Investor Report Industrial Hemp Sector New Zealand ’ s New Export Opportunity 2020
49
7 . HEMP GROWTH SCENARIOS - A $ 2 BILLION INDUSTRY BY 2030
The NZ industrial hemp industry is a commercial start-up which , despite cultivation and research activity since 2006 , has in fact only been able to develop since the Industrial Hemp Regulations were amended at the end of 2018 .
As shown in chapter 4 of this Report , even in that short time a substantial industry has built up particularly around hemp seeds and oil , along with an increasing consumer awareness of the health benefits of hemp food and other products .
As indicated in Chapter 3 discussing the global hemp industry , those countries where law changes were made some time ago , have shown substantial growth .
The nature of that growth ( for example , the different products and market segments that have been developed ), is helpful when considering a likely “ scenario ” which could exist in New Zealand in ten years ’ time .
However , any strategy for future growth in the hemp industry must consider New Zealand ’ s own unique circumstances .
New Zealand ’ s small population is a case in point , and it has long been recognised here that substantial industry growth will only be achieved through an aggressive export strategy , and this has certainly been seen in the horticultural sector .
Exporting has been central to the success of horticultural industries in New Zealand . Such as kiwifruit and wine . These industries have played to the country ’ s strengths and built profitable niches in global markets .
The hemp industry has much to learn from the wine Industry , which has implemented a high value export strategy , with products aimed at discerning customers .