North America And Oceania Industrial Hemp Market To Reach $7.23 Billion By 2030

North America And Oceania Industrial Hemp Market Growth & Trends

The North America and Oceania industrial hemp market size is estimated to reach USD 7.23 billion by 2030, registering a CAGR of 20.5% from 2025 to 2030, according to a new report by Grand View Research, Inc. Increasing R&D activities in the agricultural sector to advance new genetics and agronomy of the product to get high yield is likely to have a positive impact on the production of industrial hemp in North America and Oceania.

The political link between marijuana and industrial hemp has led to several restrictions on consumption, cultivation, distribution, and processing of the product in North America and Oceania. However, growing legalization and liberalization for the cultivation of industrial hemp with tetrahydrocannabinol (THC) content not more than 0.3 in countries such as the U.S. is expected to have a positive impact on the market growth in North America and Oceania. Seed oil and seedcakes are witnessing increasing demand owing to high nutritional value and fatty acid content of seeds, which, in turn, is expected to drive the growth of seeds segment.

Processing facilities extract required components from crops with the help of processing and manufacturing equipment. However, low yield, lack of harvesting innovations, and processing facilities, and difficulties in the transportation of industrial hemp in highly regulated markets are the factors hampering the market growth in North America and Oceania. Major players in the market are investing heavily in the research & development activities to achieve high yields and to maintain high-quality products at minimum prices to gain a competitive edge.

Industrial hemp is used in over 25,000 products across numerous end-use industries. These include automotive, construction, personal care, cosmetics, food & beverages, food supplements, textiles, and paper, among others. This is owing to the inherent advantageous characteristics of industrial hemp such as strength, durability, biodegradability, light weight, and low production costs.

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North America And Oceania Industrial Hemp Market Report Highlights

• he seeds segment dominated the industry and accounted for the largest revenue share in 2024, primarily driven by increasing demand for plant-based and sustainable products.

• The shivs segment is expected to progress at a CAGR of 17.2% in terms of revenue over the forecast period, owing to its rising use in animal bedding materials due to its high absorption ability.

• Automotive is expected to be the fastest growing segment with a significant CAGR over the forecast period, owing to hemp's potential to reduce vehicle weight and carbon footprint.

• North America accounted for the largest revenue share in 2024, driven by the rising demand for sustainable products, especially in textiles and construction.

North America And Oceania Industrial Hemp Market Segmentation

Grand View Research has segmented the North America and Oceania industrial hemp market based on product, application, and region:

North America And Oceania Industrial Hemp Market Segmentation

North America & Oceania Industrial Hemp Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Seeds

• Fiber

• Shives

North America & Oceania Industrial Hemp Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Animal care

• Textiles

• Automotive

• Furniture

• Food & Beverages

• Paper

• Construction Materials

• Personal Care

• Other

North America & Oceania Industrial Hemp Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Oceania

  • Australia

  • New Zealand

List of Key Players in the North America And Oceania Industrial Hemp Market

• Fresh Hemp Foods Ltd.

• IND HEMP, LLC.

• Blue Sky Hemp Ventures

• Panda Biotech, LLC

• Marijuana Company of America Inc.

• Kazmira LLC

• The Cannabis Co.

• Hemp Foods Australia

• Hemptech

• Valley Bio Limited

• Parkland Industrial Hemp Growers Co-Op. Ltd. (PIHG)

• Elixinol LTD.

• Terra Tech Corp.