Industrial Hemp Regulations To Be Reviewed In New Zealand

The global industrial hemp market is already massive, and likely to continue to increase in size for the foreseeable future. According to a recent market analysis by Technavio, the worldwide industrial hemp market “is set to grow by USD 18.31 billion from 2025 to 2029” at “a CAGR of over 27% during the forecast period.”

New Zealand is a market that is largely struggling to properly get off the ground, however, a recent announcement by government officials that the nation’s hemp regulations will be reviewed could help.

“On Friday, Minister for Regulation David Seymour announced it would review what he called “outdated and burdensome regulations” surrounding industrial hemp.” reports The New Zealand Herald in its local coverage.

“It was the result of years of campaigning by hemp farmers, processors and companies that were hamstrung by regulations developed in 2006, which put licensing for cultivation into the hands of the Ministry of Health.” the outlet also reported.

In addition to the previously cited market analysis by Technavio, IMARC Group also recently published a global industrial hemp market analysis, finding that the global industrial hemp market size “was valued at USD 6.2 Billion in 2024” and will “reach USD 20.9 Billion by 2033, exhibiting a CAGR of 14.5% during 2025-2033.”

“The market is witnessing significant growth mainly driven by the extensive change in legislative landscapes facilitating a more favorable environment for hemp cultivation and processing, thereby facilitating the recognition of hemp’s environmental benefits and diversification of hemp applications across numerous end use industries.” IMARC Group also stated.