Global Hemp Seed Market is valued at approximately USD 5.5 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 8.70% over the forecast period 2023-2030. Hemp seeds also known as “hemp hearts” are a nutrient-dense dietary source it is high in good fats, protein, and several minerals. Essential fatty acids, especially omega-3 and omega-6 fatty acids, are rich in hemp seeds and regarded as a natural gift and are acknowledged as the world’s most nutritious seed, containing full protein. The Hemp Seed market is rising Due to its many health benefits as improving heart health by reducing cholesterol, blood pressure, and triglycerides. However, increasing nutrient intake and benefits of hemp seed for agriculture are growing as demand for processed and ready-to-eat food goods are increasing, particularly among millennials and the urbanized population, is driving increasing consumption of hemp-based cereals, smoothies, yoghurt, and other food items. Hemp seed is used to produce hemp biodiesel, which can be used in any vehicle powered by diesel.
Growing acceptance of the healthful foods and agricultural benefits connected with hemp seed to maintain intake of protein levels, the booming vegan shift has resulted in a steady shift away from meat and dairy products and towards hemp-based nutrition items. According to Veganuary, 4 million people signed up for the campaign in 2020, which increased to over 5 million in 2021, which is a non-profit organization in the United Kingdom that encourages participants to adopt a vegan diet and lifestyle for the entire month of January. In 2022, the number of signups climbed to 6.29 million. As a result, growth in the vegan population with drive the hemp-based food industry forward. Additionally, the rising trend of buying on online platforms as well as Ready-to-drink variations in order to widen the range of their goods. However, high production costs, strict regulations and policies are expected to limit the growth of the hemp seed market.
The key regions considered for the Global Hemp Seed Market stud4y includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market over the forecast period as it is anticipated to be driven by growing public knowledge of the potential advantages and opportunities provided by industrial hemp, evolving governmental options, and rising consumer demand for goods derived from hemp. It is followed by the food and beverage segment. This is due to the food sector’s extensive use of industrial hemp for salad dressing and cooking as well as for snack food in order to reap the high nutritional benefits. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as Growing demand for skin care products and more funding from private organizations are expected to drive the market’s growth rate. The hemp seed oil provides flavor to the vegan diet, which is thought to increase demand for the industrial hemp industry.
Major market player included in this report are:
BAFA Neu GmbH
Canah International Srl
Deep Nature Project GmbH
Fresh Hemp Foods Ltd
Hemp Oil Canada Inc.
Hemp flax Group B.V
North American Hemp & Grain Co Ltd.
GFR Ingredients Inc.
Hempco Food and Fiber Inc.
Liaoning Qiaopai Biotech Co Ltd.
Recent Developments in the Market:
Ø In January 2023, Hemp Foods Australia (HA) has a new nationwide distribution deal with Woolworths. The company is a subsidiary of Elixinol.
Ø In Feb 2022 PepsiCo to launch a hemp seed-infused drink under Rockstar Energy as Pepsi is hoping to attract younger, female consumers with the drink
Global Hemp Seed Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product Type, Form, Packaging, Application, Distribution Channel, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product type:
Whole Hemp Seed,
Shelled Hemp Seed
Hemp Seed Oil
Hemp Seed Protein
Tea and Hemp Juice
By Distribution Channel:
Middle East & Africa
Rest of Middle East & Africa