Unlocking Potential: Hemp & Medicinal Cannabis in Aotearoa – A $2 Billion Opportunity
New Zealand’s hemp and medicinal cannabis industry is on the brink of remarkable growth. According to a 2020 investor-focused report, the sector could generate up to NZ$2 billion by 2030, along with creating tens of thousands of jobs, especially in regional areas. With the right regulatory environment and investment, Aotearoa has the opportunity to become a global player in this high-value industry.
Why Now?
Medicinal cannabis is already legal in over 40 countries and 33 U.S. states, with the global industry projected to reach US$62.6 billion by 2024. Closer to home, there’s rising demand for natural, plant-based therapeutics — and New Zealand is uniquely placed to meet that demand.
The report emphasizes that the economic, environmental, and health benefits of hemp and medicinal cannabis are substantial — from sustainable building materials and textiles to high-value pharmaceutical products.
Māori and Iwi Leading the Way
Many Māori entities are already involved in cultivation and product development for both export and domestic markets. Their participation not only brings cultural leadership but also reinforces the values of sustainability, innovation, and long-term intergenerational wellbeing.
The report highlights that unlocking the sector’s full potential will require clearer regulatory frameworks, better access to capital, and support for iwi and regional communities to participate meaningfully in the value chain.
What’s Next?
With strategic alignment between government, iwi, and investors, New Zealand could become a global hub for hemp and medicinal cannabis. But we need to act now to ensure a fair and thriving industry for all.
Download the full report HERE
