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Oceania Industrial Hemp Market to Reach USD 130 Million by 2034, Driven by Sustainable Demand and Government Support
Oceania Industrial Hemp Market
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Australia currently leads the market in both revenue and production, while New Zealand is the fastest-growing market, driven by favorable policies and expanding cultivation. Key applications of industrial hemp include biodegradable plastics, eco-friendly textiles, food and beverages, pharmaceuticals, and personal care products.
One of the major growth drivers is the growing shift toward environmentally responsible products. With global demand for sustainable materials increasing by 20% year over year, hemp is gaining popularity for its versatile uses and low environmental impact. Hemp is increasingly being used in biodegradable plastics and sustainable fashion, aligning well with global environmental goals.
Government support is playing a key role in expanding the hemp industry. In Australia, programs encouraging sustainable farming practices, including subsidies and grants for hemp farmers, have made it easier for businesses to enter and grow in the market. These initiatives are reducing production costs and encouraging innovation.
Health benefits associated with hemp are also drawing attention. The plant's use in food and health-related products has grown due to its rich nutritional profile and potential health applications. More consumers are turning to hemp-based options as natural, plant-based alternatives in their diets and wellness routines.
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However, the market still faces challenges. Regulatory differences across Oceania and a lack of modern processing infrastructure remain barriers. Complex compliance requirements have driven up regulatory costs, making it harder for some producers to expand. In addition, only around 40% of hemp producers currently have access to advanced processing facilities, creating supply bottlenecks and increasing operational expenses. Consumer awareness also remains an issue, with many still unfamiliar with hemp's benefits. Addressing this through education and outreach is key to future growth.
In terms of volume, the market is expected to produce around 12,000 tons of hemp in 2024, growing to approximately 20,000 tons by 2034. While production is increasing steadily, the focus is shifting toward value-added and premium products to support revenue growth.
Price trends have shown fluctuations due to rising raw material and energy costs. A 7% increase in raw material expenses was observed recently, largely due to supply chain disruptions. New Zealand benefits from lower production costs thanks to local demand and government incentives, while Australia faces higher prices due to logistics and tariffs. More companies are now adopting AI-based pricing systems to respond to market changes, which has helped improve margins by nearly 2% in some cases.
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In terms of product segmentation, hemp seeds currently lead the market, valued at USD 30 million in 2024 and expected to reach USD 55 million by 2034. The food and beverages sector is the fastest-growing application, with consumers increasingly choosing hemp-based foods for their health benefits. On the end-user side, consumer goods - particularly personal care products - hold the largest market share and are projected to grow further in the coming decade.
Online retail is becoming the preferred distribution channel due to the convenience of e-commerce and increasing digital presence of hemp-based brands. This channel is growing at a CAGR of 6.5%, faster than traditional offline retail.
Oceania Industrial Hemp Competitive Strategies & Notable Developments
Ecofibre
Hemp Foods Australia
Elixinol Global
Hemp Inc.
Canopy Growth Corporation
Tilray
Charlotte's Web Holdings
Medical Marijuana Inc.
CV Sciences
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Oceania Industrial Hemp Market Segmentation
By Product Type
Hemp Seeds
Hemp Oil
Hemp Fiber
By Application
Food and Beverages
Textiles
Pharmaceuticals
Personal Care Products
By End User
Industrial
Consumer Goods
Healthcare
By Distribution Channel
Online Retail
Offline Retail
By Product Type Segmentation
Chart with 4 data points.
View as data table, By Product Type Segmentation
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