The 2018 Farm Bill and subsequent explosion in delta-9 products has been one of the most disruptive pieces of legislation to the cannabis industry in the past decade — and many traditional marijuana companies are taking advantage of the broad opportunities available to hemp-derived products.
Marijuana Venture spoke with several entrepreneurs and operators in the cannabis space to get their predictions for 2025. Part 3 of this four-part series will cover hemp, with regards to the products, the trends and the uncertain future of rules and regulations.
Part 3: Hemp
Part 4: Products
Adam Terry
CEO
The hemp beverage industry will continue to grow, while THCA flower will be banned in more states. New states will adopt regulations for hemp products, especially beverages. We will see a much more widespread acceptance by distributors and retailers of hemp beverages. We will see our first $50 million acquisition of a hemp THC beverage company.
Jeff Applegate
President
This past year showed many areas where the supply chain can be trimmed down for the hemp industry. We learned the importance of leaving industry brokers behind, and in the interest of streamlining costs across the supply chain and for the end consumer, see value for manufacturers having direct relationships with farmers and product formulators. The hemp market must mature and have each business find one another unfettered to break loose from the high costs in the entire supply chain. We’re looking forward to seeing greater collaboration between like-minded professional hemp operators across the supply chain with excellence and more predictable ROI top of mind.
Shauntel Ludwig
CEO
We’re going to see a huge shift in product standardization, testing and reporting accuracy — driven directly by descheduling. Many players won’t be prepared, and this will trigger mass consolidation across the industry. I also expect to see changes to the Farm Bill. If the legal THC content limit increases to 1% from 0.3%, it will unleash a surge in D8, D9 and THCA products in states where they’re allowed. The derivative market could even surpass the legal cannabis market — maybe that’s the future we’re heading toward.
Co-founder and chief revenue officer
The biggest fear we have heading into 2025 is a rise in bad actors and fraud — especially as it relates to hemp-derived cannabis. While we’re comfortable with the future outlook for our state-regulated business, there is room for concern if there are federal attempts to deregulate the hemp industry. Once bad actors are certain that less attention is being paid, if any at all, the door is wide open for cash grabs. Without any enforcement, the industry may spiral. Throughout 2025, I hope to see cannabis businesses operate like any legitimate company in another industry — rather than functioning simply as a business that works in cannabis.
Ryan Oquin
Vice president of sales
First off, the market has spoken and consumers love hemp-derived products. More than anything, the increased options available to consumers show that there is room for more diverse products. That said, 2025 could be a tough year for the entire cannabis market (hemp and marijuana) if current trends leaning toward more restrictions and prohibition continue. I expect to see more hemp (and marijuana) companies offering beverages in different sizes and strengths. It’s also likely that the hemp industry will face continued challenges from the marijuana sector as well as pushback in states considering adding either medical or recreational initiatives. Products will continue to evolve and refine to meet the demands of the market.