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Add to CartGlobal Hemp Seeds Market Growth, Share, Size, Trends and Forecast (2024 - 2030)
By Form;
Whole, Hulled, Seed Oil and Protein Powder.By Application;
Food & Beverage, Personal Care Products, Industrial Products and Others.By Geography;
North America, Europe, Asia Pacific, Middle East and Africa, and Latin America - Report Timeline (2020 - 2030).Introduction
Global Hemp Seeds Market (USD Million), 2020 - 2030
In the year 2023, the Global Hemp Seeds Market was valued at USD 1,062.45 million. The size of this market is expected to increase to USD 2,319.53 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 11.8%.
Hemp seeds are renowned for their nutritional richness, boasting high levels of protein, minerals, fiber, and vitamins A, C, and E. Recognized as a highly nutritious natural food, hemp seeds offer an ideal balance of omega-6 to omega-3 fatty acids, with additional compounds aiding in the management of high blood pressure, as per a 2014 study by the University of Seville, Spain. Given these health benefits and their rich nutritional profile, the utilization of hemp seeds is expected to surge, particularly in the food & beverage and nutritional supplements sectors.
A key driver propelling market growth is the increasing consumer awareness regarding the health advantages of hemp seeds. Moreover, various forms of hemp seeds, including hulled seeds, seed oil, and protein powder, are witnessing growing preference across multiple industries such as food & beverage, personal care products, nutritional supplements, animal feed, and industrial products. This expanding application spectrum is fueling the growth of the hemp seeds market.
The outbreak of COVID-19 has introduced challenges to numerous industries worldwide, and the hemp seeds market is no exception. The heavy reliance on hardware, predominantly manufactured in China, has led to significant disruptions in the supply chain. Shortages in hardware availability have consequently hindered the production of hemp-based products, exacerbating the supply chain disruption. Additionally, vertically integrated companies are grappling with the impact of the pandemic on their operations.
Despite these challenges, the hemp industry remains resilient, with potential for growth driven by the increasing adoption of sustainable products utilizing hemp. Industries such as textiles and plastics are exploring the use of hemp as raw material, which may partially mitigate the impact of COVID-19 on the hemp seeds market.
Global Hemp Seeds Market Report Snapshot
| Parameters | Description |
|---|---|
| Market | Global Hemp Seeds Market |
| Study Period | 2020 - 2030 |
| Base Year (for Hemp Seeds Market Size Estimates) | 2023 |
| Drivers |
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| Restraints |
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| Opportunities |
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Segement Analysis
The global hemp seeds market is projected to experience significant growth, share expansion, and size amplification, alongside evolving trends, throughout the forecast period from 2024 to 2030.In terms of form, the market is segmented into whole seeds, hulled seeds, seed oil, and protein powder. Whole hemp seeds are expected to maintain a prominent position in the market, driven by their inherent stability and nutritional richness. Hulled seeds, renowned for their versatility and convenience, are also anticipated to witness substantial growth. Additionally, the demand for hemp seed oil and protein powder is projected to escalate, fueled by their diverse applications in various industries.
Regarding application, the market is segmented into food & beverage, personal care products, industrial products, and others. The food & beverage segment is expected to dominate the market, propelled by the increasing consumer preference for nutritious and functional foods. The personal care products segment is forecasted to experience significant growth, driven by the rising demand for natural and sustainable skincare solutions. Moreover, hemp seeds' utilization in industrial products, including textiles, plastics, and construction materials, is anticipated to contribute to market expansion.Overall, the global hemp seeds market is characterized by emerging trends such as increasing consumer awareness of health benefits, expanding legalization and regulatory changes, and growing acceptance of hemp-derived products. These factors, coupled with the diverse applications and nutritional richness of hemp seeds, are expected to drive market growth, share expansion, and size amplification over the forecast period.
Global Hemp Seeds Segment Analysis
In this report, the Global Hemp Seeds Market has been segmented by Form, Application and Geography.
Global Hemp Seeds Market, Segmentation by Form
The Global Hemp Seeds Market has been segmented by Form into Whole, Hulled, Seed Oil and Protein Powder.
The global market for whole hemp seeds is poised to maintain its leadership position, expected to persist throughout the forecast period. This dominance is attributed to the inherent stability of whole hemp seeds, particularly in terms of denaturation and oxidative stability when exposed to air, which surpasses that of hulled seeds. Moreover, whole hemp seeds serve as an excellent source of essential minerals and contain rare insoluble fiber, further enhancing their nutritional value.One notable advantage of whole hemp seeds is their ability to cleanse the colon and gently flush toxins from the intestine, primarily attributed to the presence of hulls. This cleansing property adds to the overall health benefits associated with consuming whole hemp seeds, appealing to health-conscious consumers seeking natural remedies for digestive health and overall well-being.
The versatility of whole hemp seeds extends beyond their nutritional benefits. They serve as a versatile ingredient in various culinary applications, contributing texture, flavor, and nutritional value to a wide range of dishes. From salads and smoothies to baked goods and snack bars, whole hemp seeds offer culinary flexibility and appeal to consumers seeking nutritious and flavorful food options.Whole hemp seeds find applications in the personal care and wellness sectors. Extracts derived from hemp seeds are incorporated into skincare products for their hydrating and nourishing properties, catering to the growing demand for natural and sustainable skincare solutions.The stable nature, nutritional richness, and diverse applications of whole hemp seeds position them as a preferred choice among consumers and industries worldwide. As awareness of their health benefits continues to grow, the demand for whole hemp seeds is expected to soar, driving market growth and expansion across various sectors.
Global Hemp Seeds Market, Segmentation by Application
The Global Hemp Seeds Market has been segmented by Application into Food & Beverage, Personal Care Products, Industrial Products and Others.
The food and beverage segment is anticipated to secure the largest share in the global hemp seeds market, primarily driven by the exceptional nutritional profile of hemp seeds. In 2019, this segment accounted for a significant share of 44.52%. Hemp seeds are highly valued for their rich array of essential nutrients, making them a popular choice for incorporation into a diverse range of food and beverage products.Hemp seeds are commonly consumed in their raw form or as additions to various food items such as smoothies, salads, and breakfast toppings. Their nutty flavor and crunchy texture make them a versatile ingredient in culinary creations, appealing to consumers seeking nutritious and flavorful dietary options.Hemp seed oil is widely utilized in numerous food applications, adding both flavor and nutritional benefits. It is commonly used as a dressing for salads, a substitute for margarine or butter, and an ingredient in various culinary preparations such as milk and granola bars. The high levels of omega-3 and omega-6 fatty acids in hemp seed oil make it a sought-after choice for enhancing the nutritional profile of food products.
Hemp seeds find applications in the brewing industry, where they are used for beer brewing to impart unique flavors and nutritional benefits. Additionally, hemp seed flour is utilized in baking as a gluten-free alternative, adding protein and fiber to baked goods while catering to the growing demand for healthier food options.The food and beverage segment of the hemp seeds market is poised for significant growth due to the widespread utilization of hemp seeds and hemp seed oil in various food and beverage applications. Their rich nutritional profile, versatility, and culinary appeal make them a valuable ingredient for manufacturers and consumers alike, driving the segment's share in the global market.
Global Hemp Seeds Market, Segmentation by Geography
In this report, the Global Hemp Seeds Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Global Hemp Seeds Market Share (%), by Geographical Region, 2023
The European market is anticipated to exhibit the fastest compound annual growth rate (CAGR) of 12.01% during the period from 2020 to 2027. This significant growth is primarily attributed to the increasing consumption of hemp seeds as a food source and their incorporation into various food products such as smoothies, yogurt, and cereal bars. Notably, countries like the Netherlands, Italy, Germany, and the U.K. are leading the way in embracing hemp seeds as a nutritious dietary supplement, driving market expansion across the region. Currently, the Asia Pacific region commands the largest share of the global hemp seed market, accounting for 33.6% of the total market share. This dominance is fueled by high consumption levels observed in countries such as China, Japan, Australia, and India. In addition to their use as a dietary staple, hemp seeds are increasingly utilized in personal care products, contributing to the growing market demand in the region. Furthermore, the legalization of industrial hemp for use in food supplements is acting as a catalyst for market growth, propelling the Asia Pacific region to the forefront of the global hemp seed market landscape. The burgeoning market for hemp seeds in both Europe and Asia Pacific underscores the increasing recognition of their nutritional benefits and versatile applications across various industries. As consumer awareness continues to rise and regulatory barriers are gradually lifted, these regions are poised to experience significant market growth and drive the global expansion of the hemp seed industry.
Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Global Hemp Seeds Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Drivers, Restraints and Opportunity Analysis
Drivers
- Increasing Demand for Nutritious Foods
- Expanding Applications in Various Industries
- Legislation and Legalization
- Rising Demand from Personal Hygiene -
The global hemp seeds market is experiencing a surge in growth, driven in part by rising demand from the personal hygiene sector. Hemp seeds and hemp-derived products are increasingly recognized for their beneficial properties in personal care and hygiene products, contributing to the expansion of this market segment.
One key driver behind the rising demand for hemp seeds in personal hygiene products is their rich composition of essential fatty acids, vitamins, and minerals. Hemp seed oil, extracted from hemp seeds, is known for its moisturizing and nourishing properties, making it a popular ingredient in skincare and haircare products. Hemp seed oil is rich in omega-3 and omega-6 fatty acids, which help maintain skin hydration and promote skin elasticity. These fatty acids also possess anti-inflammatory properties, making them effective in soothing irritated skin conditions such as eczema and psoriasis.
Moreover, hemp seed oil contains antioxidants such as vitamin E, which help protect the skin from free radical damage and premature aging. This makes hemp seed oil a valuable ingredient in anti-aging skincare formulations, where it can help reduce the appearance of fine lines and wrinkles while promoting overall skin health.
In addition to skincare products, hemp seeds and hemp-derived ingredients are increasingly being incorporated into haircare products such as shampoos, conditioners, and hair treatments. Hemp seed oil helps nourish and strengthen the hair follicles, promoting healthy hair growth and reducing breakage. It also helps balance the scalp's natural oil production, making it suitable for all hair types, including dry, oily, and sensitive scalps.
Furthermore, the growing consumer preference for natural and sustainable ingredients in personal care products is driving the demand for hemp seeds and hemp-derived ingredients. Hemp cultivation is known for its minimal environmental impact, as it requires fewer pesticides and herbicides compared to other crops. As consumers become more conscious of the environmental footprint of their personal care products, they are increasingly seeking out natural and eco-friendly alternatives, further fueling the demand for hemp-based ingredients.
Restraints
- Regulatory Uncertainty
- Limited Consumer Awareness
- Stigmatization and Misconceptions
- Strict Regulatory Framework May Pose Restrictions -
The stringent regulatory framework surrounding hemp products presents a significant challenge to market growth. Hemp, being part of the Cannabaceae family, shares similarities with Cannabis, necessitating stringent regulations enforced by entities such as the FDA and the European Food Safety Authority. Obtaining approvals for hemp-based products can be a protracted process due to regulatory hurdles. Many food regulatory agencies worldwide stipulate that the Tetrahydrocannabinol (THC) content in these products must not exceed 0.3%. Consequently, the dynamic and evolving legal landscape governing hemp and its applications pose a major constraint on market expansion.
The complex and evolving regulatory environment surrounding hemp products introduces uncertainty for manufacturers, distributors, and consumers alike. Compliance with stringent regulations requires substantial resources and expertise, potentially deterring market players from investing in hemp-related ventures. Moreover, the inconsistency in regulations across different regions adds further complexity to the market landscape, hindering seamless market access and growth opportunities. As a result, navigating the regulatory framework becomes a significant challenge for stakeholders in the hemp industry, impeding the market's potential for expansion.
Opportunity
- Expanding Legalization and Regulatory Changes
- Increasing Acceptance of CBD Products
- Diverse Applications in Various Industries -
The opportunity presented by diverse applications of hemp seeds in various industries is significant and multifaceted. Hemp seeds, renowned for their nutritional richness and versatility, offer a wide range of applications across industries, driving market growth and expansion.
In the food and beverage industry, hemp seeds are increasingly recognized as a valuable ingredient due to their high protein content, essential fatty acids, and abundance of vitamins and minerals. They are used in a variety of products, including health bars, snacks, beverages, and baking goods. The seeds can be consumed whole, hulled, or processed into hemp seed oil, protein powder, or flour, providing manufacturers with ample opportunities for innovation and product development. Additionally, the growing demand for plant-based and organic foods further enhances the market potential for hemp seeds in the food and beverage sector.
Beyond food, hemp seeds find applications in the personal care and cosmetics industry. Hemp seed oil is valued for its moisturizing, nourishing, and anti-inflammatory properties, making it a sought-after ingredient in skincare products such as lotions, creams, serums, and balms. It helps hydrate and soothe the skin, alleviate irritation, and promote overall skin health. Furthermore, hemp seed oil is rich in antioxidants, which can protect the skin from environmental damage and premature aging, adding to its appeal in the personal care market.
Moreover, hemp seeds are utilized in the textile and clothing industry for their strong and durable fibers. Hemp fibers are eco-friendly and sustainable, requiring fewer pesticides and water compared to conventional fibers like cotton. They are used to produce a variety of textile products, including clothing, bags, shoes, and accessories. With increasing consumer awareness of sustainability and environmental conservation, there is a growing demand for eco-friendly and ethically sourced textile materials, presenting a significant opportunity for hemp seeds in the textile industry.
Competitive Landscape Analysis
Key players in Global Hemp Seeds Market include:
- Manitoba Harvest (Winnipeg, Canada)
- Hemp Oil Canada Inc. (Manitoba, Canada)
- Canah International (Salonta, Romania)
- Hempflax BV (Oude Pekela, Netherlands)
- BAFA neu GmbH (Malsch, Germany)
- Liaoning Qiaopai Biotech Co., Ltd. (Jinzhou, China)
- North American Hemp & Grain Co. (Vancouer, Canada)
- Yunnan HuaFang Industrial Hemp Co. Ltd. (Kunming, China)
- Panxchange
- GFR Ingredients Inc. (Alberta, Canada)
- Naturally Splendid Enterprises Ltd. (Pitt Meadows, Canada)
- Tilray Inc.(Canada)
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Form
- Market Snapshot, By Application
- Market Snapshot, By Region
- Global Defense Budget Analysis Dynamics
- Drivers, Restraints and Opportunities
- Drivers
- Increasing Demand for Nutritious Foods
- Expanding Applications in Various Industries
- Legislation and Legalization
- Rising Demand from Personal Hygiene
- Restraints
- Regulatory Uncertainty
- Limited Consumer Awareness
- Stigmatization and Misconceptions
- Strict Regulatory Framework May Pose Restrictions
- Opportunities
- Expanding Legalization and Regulatory Changes
- Increasing Acceptance of CBD Products
- Diverse Applications in Various Industries
- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Global Hemp Seeds Market Growth, By Form, 2020 - 2030 (USD Million)
- Whole
- Hulled
- Seed Oil
- Protein Powder
- Global Hemp Seeds Market Growth, By Application, 2020 - 2030 (USD Million)
- Food & Beverage
- Personal Care Products
- Industrial Products
- Others
- Global Hemp Seeds Market Growth, By Geography, 2020 - 2030 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Global Hemp Seeds Market Growth, By Form, 2020 - 2030 (USD Million)
- Competitive Landscape
- Company Profiles
- Manitoba Harvest (Winnipeg, Canada)
- Hemp Oil Canada Inc. (Manitoba, Canada)
- Canah International (Salonta, Romania)
- Hempflax BV (Oude Pekela, Netherlands)
- BAFA neu GmbH (Malsch, Germany)
- Liaoning Qiaopai Biotech Co., Ltd. (Jinzhou, China)
- North American Hemp & Grain Co. (Vancouer, Canada)
- Yunnan HuaFang Industrial Hemp Co. Ltd. (Kunming, China)
- Panxchange
- GFR Ingredients Inc. (Alberta, Canada)
- Naturally Splendid Enterprises Ltd. (Pitt Meadows, Canada)
- Tilray Inc.(Canada)
- Company Profiles
- Analyst Views
- Future Outlook of the Market
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