The U.S. industrial hemp sector experienced remarkable growth in 2024, with planted acreage rising by 64%, reaching nearly 45,300 acres. This increase reflects a significant shift in the agricultural landscape, driven primarily by the expanding market for floral hemp.
According to the latest National Hemp Report, the value of hemp production across the country surged to $445 million in 2024, marking a 40% rise compared to the previous year. The harvested area also saw a notable increase, climbing to just under 32,700 acres.
Floral hemp has become the centerpiece of this growth, with production more than doubling to 20.8 million pounds, which is a remarkable 159% increase over 2023. This segment of the market now represents 87% of the total value of hemp grown outdoors.
The rise in both acreage and yield has been pivotal in driving these numbers. The harvested area expanded by 60%, and the average yield per acre increased to 1,757 pounds, up from 669 pounds in the previous year. The report highlights that the dramatic increase in seed hemp value—nearly 500%, climbing to $16.9 million—also contributed to the overall growth in the industry.
This substantial increase in hemp production demonstrates not only the expanding acceptance of hemp as a viable crop but also the growing consumer demand for products derived from hemp, ranging from textiles to health supplements. As farmers adapt to this emerging market, the continued increase in hemp acreage and production value is expected to reshape agricultural practices in the United States.
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