The global hemp seed market is anticipated to reach $11.72 Billion by 2032, growing from $5.12 Billion in 2022 at a CAGR of 8.9% from 2023 to 2032.
Hemp seeds are small edible seeds that are derived from the cannabis sativa plant. They are extremely nutritious, with high levels of vital fatty acids, proteins, and minerals. Hemp seeds have a mild, nutty flavor and are commonly used in cooking and baking, as well as a source of plant-based protein and omega-3 fatty acids.
There is a rising focus on health & wellness, with consumers actively seeking out functional foods and nutraceuticals. Hemp seeds, with their potential health benefits, align well with this trend. They are known for their anti-inflammatory properties, potential cardiovascular benefits, and positive impact on skin health. Consumers are Increasingly conscious of their dietary choices and actively seek out functional foods and nutraceuticals that offer health benefits beyond basic nutrition. Hemp seeds contain an optimal ratio of omega-6 to omega-3 fatty acids, which have been linked to reducing inflammation in the body. Chronic inflammation is associated with various health issues, Including cardiovascular disease, arthritis, and certain types of cancer. The anti-inflammatory properties of hemp seeds make them appealing to individuals seeking to manage or prevent such conditions. All these factors are projected to drive the market growth during the forecast period.
The hemp seed market lacks standardized quality, labeling, and certification practices. This can lead to consumer skepticism and difficulty in establishing trust and brand differentiation. The absence of consistent quality standards across different suppliers and regions can also affect the market's growth potential and hinder international trade. In addition, the hemp seed market can face challenges in terms of supply chain management, particularly related to cultivation, harvesting, and processing. Labor shortages, quality control issues, and transportation constraints can impact the availability and consistency of hemp seed supply, affecting market growth.
The hemp seed market holds immense potential as hemp production continues to be legalized and regulatory support for hemp-derived products grows. The adoption of favorable policies by more countries and regions enables Increased production, trade, and consumption of hemp seeds. With the rising demand for alternative protein sources and the popularity of plant-based diets, demand for hemp seeds is projected to Increase. Their high protein content and comprehensive amino acid profile make them an ideal choice to meet the Increasing need for plant-based protein. The market can further capitalize on this trend by developing innovative hemp seed products with high protein content.
The COVID-19 pandemic had a negative impact on various industries worldwide, Including the hemp seed market. The economic downturn caused by the pandemic led to reduced consumer spending in many areas. This decline in purchasing power resulted in a decrease in demand for premium and specialty food products, Including hemp products. Consumers shifted their spending priorities, focusing on essential items rather than discretionary purchases. The pandemic created additional regulatory challenges for the hemp seed market. Governments and regulatory authorities shifted their focus and resources to manage the health crisis, causing delays in the implementation of hemp-related regulations and licensing processes. This hindered market growth and created uncertainty for businesses operating in the hemp seeds industry.
The key players profiled in this report Include MH medical hemp, Naturally Splendid Enterprises Ltd., Manitoba Harvest Hemp Foods, NAVITAS ORGANICS, Plains Industrial Hemp Processing Ltd, Hush Brands Inc., Green Source MKT, HempFlax Group B.V., GenCanna Global USA, Inc., and Ecofibre The market players are continuously striving to achieve a dominant position in this competitive market using strategies such as collaborations and acquisitions.
Hemp seeds are small edible seeds that are derived from the cannabis sativa plant. They are extremely nutritious, with high levels of vital fatty acids, proteins, and minerals. Hemp seeds have a mild, nutty flavor and are commonly used in cooking and baking, as well as a source of plant-based protein and omega-3 fatty acids.
There is a rising focus on health & wellness, with consumers actively seeking out functional foods and nutraceuticals. Hemp seeds, with their potential health benefits, align well with this trend. They are known for their anti-inflammatory properties, potential cardiovascular benefits, and positive impact on skin health. Consumers are Increasingly conscious of their dietary choices and actively seek out functional foods and nutraceuticals that offer health benefits beyond basic nutrition. Hemp seeds contain an optimal ratio of omega-6 to omega-3 fatty acids, which have been linked to reducing inflammation in the body. Chronic inflammation is associated with various health issues, Including cardiovascular disease, arthritis, and certain types of cancer. The anti-inflammatory properties of hemp seeds make them appealing to individuals seeking to manage or prevent such conditions. All these factors are projected to drive the market growth during the forecast period.
The hemp seed market lacks standardized quality, labeling, and certification practices. This can lead to consumer skepticism and difficulty in establishing trust and brand differentiation. The absence of consistent quality standards across different suppliers and regions can also affect the market's growth potential and hinder international trade. In addition, the hemp seed market can face challenges in terms of supply chain management, particularly related to cultivation, harvesting, and processing. Labor shortages, quality control issues, and transportation constraints can impact the availability and consistency of hemp seed supply, affecting market growth.
The hemp seed market holds immense potential as hemp production continues to be legalized and regulatory support for hemp-derived products grows. The adoption of favorable policies by more countries and regions enables Increased production, trade, and consumption of hemp seeds. With the rising demand for alternative protein sources and the popularity of plant-based diets, demand for hemp seeds is projected to Increase. Their high protein content and comprehensive amino acid profile make them an ideal choice to meet the Increasing need for plant-based protein. The market can further capitalize on this trend by developing innovative hemp seed products with high protein content.
The COVID-19 pandemic had a negative impact on various industries worldwide, Including the hemp seed market. The economic downturn caused by the pandemic led to reduced consumer spending in many areas. This decline in purchasing power resulted in a decrease in demand for premium and specialty food products, Including hemp products. Consumers shifted their spending priorities, focusing on essential items rather than discretionary purchases. The pandemic created additional regulatory challenges for the hemp seed market. Governments and regulatory authorities shifted their focus and resources to manage the health crisis, causing delays in the implementation of hemp-related regulations and licensing processes. This hindered market growth and created uncertainty for businesses operating in the hemp seeds industry.
The key players profiled in this report Include MH medical hemp, Naturally Splendid Enterprises Ltd., Manitoba Harvest Hemp Foods, NAVITAS ORGANICS, Plains Industrial Hemp Processing Ltd, Hush Brands Inc., Green Source MKT, HempFlax Group B.V., GenCanna Global USA, Inc., and Ecofibre The market players are continuously striving to achieve a dominant position in this competitive market using strategies such as collaborations and acquisitions.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hemp seed market analysis from 2022 to 2032 to identify the prevailing hemp seed market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hemp seed market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global hemp seed market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Source
- Organic
- Conventional
By Form
- Shelled Hemp Seed
- Hemp Seed Protein
- Hemp Seed Oil
- Whole Hemp Seed
- Hulled Hemp Seed
- Hemp Protein Powder
- Others
By Application
- Food and Beverages
- Nutritional Supplements
- Cosmetics
- Pharmaceuticals
- Textiles
- Personal Care Products
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of LAMEA
Key Market Players
- Canah
- Colorado Hemp Works LLC
- GFR Ingredients Ltd
- Hempco Inc
- HempFlax Group B.V.
- Konoplex
- Manitoba Harvest Hemp Foods Co-operative Inc.
- MH medical hemp
- Navitas Organics
- Plains Industrial Hemp Processing Ltd
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: HEMP SEED MARKET, BY SOURCE
CHAPTER 5: HEMP SEED MARKET, BY FORM
CHAPTER 6: HEMP SEED MARKET, BY APPLICATION
CHAPTER 7: HEMP SEED MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Hemp Seed Market,' The hemp seed market was valued at $5.1 billion in 2022, and is estimated to reach $11.7 billion by 2032, growing at a CAGR of 8.9% from 2023 to 2032.Hemp seeds are small, brown seeds of the cannabis sativa plant that are abundant in healthful fats, protein, minerals, and fibers. They are commonly available in whole seed, shelled seed, hemp oil, and protein powder forms. Hemp seeds provide several health advantages such as improving metabolism, increasing immunity, and treating insomnia, inflammation, and chronic pain. They are widely used in food and drinks, nutritional supplements, medications, and cosmetics.
The rising demand for processed and ready-to-eat food goods, particularly among millennials and the urbanized population, is leading to an increasing consumption of hemp-based cereals, bars, smoothies, and yoghurt. Furthermore, the popular vegan trend has led in a progressive movement away from meat and dairy products and towards hemp-based food items in order to maintain protein consumption levels. In addition, hemp is a multipurpose plant, the seeds are utilized to produce nourishing meals. They surpass chia and flax seeds because they contain both gamma-linoleic acid and CLA conjugated linoleic acid. It also provides a health fatty acid ratio, 10 necessary amino acids, and a lot of fiber. Hemp seeds are high in phosphorus, potassium, sodium, magnesium, sulfur, calcium, iron, and zinc. Furthermore, when compared to other plant protein sources, hemp is considered allergy-free. All these factors are projected to drive the market growth during the forecast period.
One of the significant restraining factors for the hemp seeds market is the regulatory landscape about hemp and hemp-derived products. While hemp cultivation has been legalized in many regions, there are still variations in regulations, licensing requirements, and restrictions on the cultivation, sale, or use of hemp seeds. This inconsistency creates barriers for farmers, producers, and consumers, leading to challenges in the production and distribution of hemp seed products. In addition, the association of hemp with cannabis and the presence of trace amounts of THC (tetrahydrocannabinol) in hemp seeds can lead to legal and consumer perception concerns.
The increasing consumer demand for plant-based and natural food products is expected to create several growth opportunities for the hemp seeds market. With their rich nutritional profile, including high protein content, essential fatty acids, and minerals, hemp seeds are well-positioned to meet the rising demand for healthy and sustainable food options. In addition, the rising popularity of hemp-based products in the health & wellness sector offers opportunities for the key players operating in the market. The potential health benefits associated with hemp seeds, such as supporting heart health, promoting digestion, and reducing inflammation, make them attractive ingredient for functional foods, dietary supplements, and nutraceuticals.
The hemp seed market share is segmented on the basis of source, form, application, and region. By source, it is classified into conventional and organic. By form, it is classified into shelled hemp seed, hemp seed protein, hemp seed oil, whole hemp seed, hulled hemp seed, hemp protein powder, and others. By application, it is classified into food & beverages, nutritional supplements, cosmetics, pharmaceuticals, textiles, personal care products, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the hemp seed market report include MH medical hemp, Naturally Splendid Enterprises Ltd., Manitoba Harvest Hemp Foods, NAVITAS ORGANICS, Plains Industrial Hemp Processing Ltd, Hush Brands Inc., Green Source MKT, HempFlax Group B.V., GenCanna Global USA, Inc., and Ecofibre.
The report offers a comprehensive analysis of the global hemp seed market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.
Impact of COVID-19 on the Global Hemp Seed Industry
The COVID-19 pandemic has led to an increase in awareness of personal health and fitness. Therefore, there has been an increase in demand for nutrient-dense superfoods such as hemp seeds. Consumers are looking for foods that provide essential vitamins, minerals, and antioxidants to help their immune systems and overall well-being.The pandemic caused disruptions in global supply chains, including the hemp seed industry. Restrictions on movement, transportation delays, and lockdown measures affected the availability and distribution of hemp seeds.
The economic downturn caused by the pandemic has affected consumer spending patterns and disposable incomes. Some consumers faced financial constraints, leading to a shift in purchasing priorities. This impacted the demand for premium hemp seed products and discretionary spending.
Key Findings of the Study
- Based on source, the conventional sub-segment emerged as the global leader in 2022 and the organic sub-segment is anticipated to be the fastest growing during the forecast period.
- Based on form, the whole hemp seed sub-segment emerged as the global leader in 2022 and the hemp seed oil sub-segment is predicted to show the fastest growth in the upcoming years.
- Based on application, the food & beverages sub-segment emerged as the global leader in 2022 and is predicted to show the fastest growth in the upcoming years.
- Based on region, North America registered the highest market share in 2022 and Asia-Pacific is predicted to show the fastest growth in the upcoming years.
Companies Mentioned
- Canah
- Colorado Hemp Works LLC
- GFR Ingredients Ltd
- Hempco Inc
- HempFlax Group B.V.
- Konoplex
- Manitoba Harvest Hemp Foods Co-operative Inc.
- MH medical hemp
- Navitas Organics
- Plains Industrial Hemp Processing Ltd
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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