by Plismo, via Wikimedia Commons
U.S. industrial hemp production surged in 2024, with total crop value reaching $445 million, a 40% increase over the previous year, according to the latest National Hemp Report. Planted acreage grew to nearly 45,300 acres, up 64% from 2023, while harvested acreage rose 60% to just under 32,700 acres.
The gains reflect both expanded planting and higher yields, which climbed from 669 to 1,757 pounds per acre. Floral hemp drove the growth, with production more than doubling to 20.8 million pounds — a 159% year-over-year increase. It accounted for 87% of the total value of hemp grown in the open, solidifying its role as the industry’s main economic force.
Seed hemp also posted strong gains, with its value soaring nearly 500% to $16.9 million, the largest percentage jump across hemp categories.
The report points to renewed momentum in the hemp sector after several years of market instability following the crop’s legalization under the 2018 Farm Bill.