Agricultural biomass is one of the major pillars for the supply of increasingly needed renewable resources for the growing bioeconomy. However, minimal additional pressure should be put on the environment. The approach of this thesis to interlink political frameworks and their objectives with those of the bioeconomy and the traits of hemp cultivation, processing and the scope of substitution is a genuinely new one. This thesis provides further genuinely new evidence and findings in regard to the inclusion of a hemp utilization scenario in the context of a EU bioeconomy. 1. The Material Flow Analysis can help to better understand, quantify and illustrate the "Hempland" scenario. Hence, a new approach with an adequate illustration of the flows and processes is incorporated. These are part of a scenario where multifunctional hemp is grown for its specific purpose in an average EU region. 2. Water is the most important mass flow in the system. Followed, by the sequestration and release of CO2 and O2. Besides, flue gas, waste and debris are crucial in the "Hempland" scenario. 3. In a EU average region with 10 million people, where 10% of the cropland is cultivated with hemp, the first harvest can contribute to the production of 1.48 Mt/year of biocomposites. Additionally 0.16 Mt/year of animal feed, 0.35Mt/year of insulation material and 1.38 Mt/year of hempcrete would result from this region. 4. The hemp crop is able to provide the bioeconomy with crucial amounts of sustainably produced biomass in order to cover quantities of demand of various productlines in the bioeconomy, without foiling the environmental objectives of the EWFD and the CAP. Against this background, the thesis has reveiled that the demand for composites and insulation material can be satisfied by far. About one third of the EU demand for soybean meal feed imports can be substituted. Also in regard to the respective EU concrete demand, more precisely the demand for non-load bearing concrete which was assumed to contribute 25% to the total demand for concrete, more than the half can in the long run be substituted by hempcrete.