NSW Industrial Hemp Investment Prospectus: What iHemp NSW Members Need to Know
iHemp NSW recently hosted a webinar on the NSW Industrial Hemp Investment Prospectus, with Karina Tyler, Investment Manager, Industry at the NSW Department of Primary Industries and Regional Development (Invest Regional NSW). Lisa Flower introduced the session on behalf of the iHemp NSW committee.
Why a prospectus?
The prospectus follows the release of the NSW Industrial Hemp Industry Development Plan, which sets out a shared vision for a profitable and sustainable industry. Where the plan sets direction, the prospectus responds to its market access and supply chain needs. It aims to lift investor and consumer awareness, identify market pathways for NSW-made hemp products, and promote the state’s competitive advantages. Hemp is a high-potential growth opportunity within Invest Regional NSW’s agribusiness priority sector, alongside its work in technology and the clean economy.
The opportunities
Karina outlined several markets, with economic modelling behind each:
- Construction: With the NSW Government committed to 377,000 new homes by 2029 under the National Housing Accord, demand for building materials is set to climb. Hempcrete held about 1.4% of the global concrete market in 2024. At a mid-range 2% share, the modelling puts the NSW opportunity at around $35 million over the next decade.
- Plant-based protein: If hemp captured 5% of the plant-based meat alternatives market, the opportunity for NSW could reach up to $25 million by 2033-34.
- Textiles: The global natural fibres market was worth over US$70 billion in 2024-25. Lower-grade fibre also suits non-apparel uses such as geotextiles and weed matting.
- Cosmetics: NSW is home to 35% of Australia’s cosmetic manufacturers, which creates scope to bring hemp-based products into existing manufacturing. NSW personal care consumption could pass $10 billion by 2035.
Across these sectors, hemp supports more than 25,000 known product applications.
Why NSW?
NSW has been Australia’s leading industrial hemp-producing state for the past three years. It also offers strong research capability through DPIRD and universities including Sydney, UTS and UNSW, an integrated logistics network, and more than $950 million invested in Special Activation Precincts, which are investment-ready industrial parks with streamlined planning.
Get the prospectus
The full prospectus can be downloaded from the Invest Regional NSW website, which also covers regional insights, site selection and investment facilitation services.
