Industrial hemp market to reach $20 billion by 2030

The industrial hemp market is projected to grow from $8.72 billion in 2025 to $10.32 billion in 2026, then nearly double again to $20.02 billion by 2030, according to a new Business Research Company report. The forecast points to rising demand for sustainable materials, hemp-based construction products, and expanded industrial uses across North America and other regions. Why it matters: - Industrial hemp is moving from a niche crop into a broader industrial input for textiles, food, construction, personal care and composites. - The market’s projected rise to $20.02 billion by 2030 signals growing commercial demand for lower-impact, renewable raw materials. - Faster hemp production can affect supply chains tied to natural fibers, plant-based nutrition and bio-based manufacturing. What happened: - The Business Research Company released its industrial hemp market report covering market size, trends and global forecasts for 2026-2035. - The report estimates the market at $8.72 billion in 2025 and $10.32 billion in 2026. - The report forecasts the market will reach $20.02 billion by 2030. - North America held the largest market share in 2025. - The coverage includes Asia-Pacific, South East Asia, Western Europe, Eastern Europe, South America, the Middle East and Africa. - The report includes a free sample available here . - The full report is available here . The details: - The report links early growth to legalization efforts, rising awareness of hemp’s sustainability, textile adoption, demand for plant-based nutrition and broader use of natural fibers. - Forecast growth is tied to hemp-derived construction materials, pharmaceutical applications, organic hemp farming, hemp composite technology and hemp-based personal care products. - Expected trends include more hemp use in textiles, stronger demand for hemp seeds, wider use of hemp hurd in animal bedding and greater industrial adoption of hemp bio-composites. - Industrial hemp is a Cannabis sativa variety grown for fiber, seed and oil. - Industrial hemp contains only trace levels of THC, the psychoactive ingredient found in marijuana. - The crop is positioned as a sustainable agricultural option because it grows quickly and typically requires fewer pesticides and herbicides than traditional crops. - The USDA National Agricultural Statistics Service reported in April 2025 that open-field hemp fiber production in 2024 reached an estimated 60.4 million pounds, up 23% from 2023. Between the lines: - The report frames hemp growth as part of a wider shift toward materials that reduce waste, rely on renewable inputs and support lower-carbon production. - The strongest near-term opportunities appear to be in products that can scale quickly from agricultural feedstock into manufactured goods. - North America’s lead suggests the region may have an early advantage in cultivation, processing and commercial adoption. What’s next: - The market is expected to keep expanding through 2030 as demand grows for hemp-based materials and products. - The 2026 report edition adds market attractiveness scoring, TAM analysis, company scoring matrix graphics and tables, Excel-based forecasting dashboards, market hotspot infographics and updated trend analysis. - The Business Research Company says it will continue updating forecasts through its Global Market Model platform and broader research coverage.