Global Hemp Seeds Market - 2023-2030

Global Hemp Seeds Market - 2023-2030

Global Hemp Seeds Market reached US$ 4.8 billion in 2022 and is expected to reach US$ 8.7 billion by 2030 growing with a CAGR of 7.8% during the forecast period 2023-2030. The growing awareness of the beneficial properties of hemp-based food products and snacks is helping in driving the global hemp seeds market growth.

Increasing awareness of the various nutritional benefits of hemp seeds creates opportunities for various new product launches. For instance, in May 2023, Hamperella announced the launch of hemp-based superfood products, including hemp-based protein powder, protein bars, seeds, oils, salad toppers, and flours.

The rich nutritional benefits of hemp seeds are attracting the attention of manufacturers and consumers. The hemp seeds have the ability to protect the brain, boost heart health, reduce inflammation, improve skin conditions, relieve rheumatoid arthritis, and other health benefits. All the nutritional and health benefits provided by hemp seeds are driving market growth.

Market Dynamics
The Growing Demand for Hemp Seeds Due to Various Benefits is Driving the Global Hemp Seeds Market Growth.
Hemp is a versatile plant of the Cannabis sativa family. These hemp seeds are used to make nutritious food. It belongs to the same family as Cannabis. The hemp seeds contain both gamma-linoleic acid and conjugated linoleic acid. They outperform the chia and flax seeds. It also has healthy fatty acids, essential amino acids, minerals, vitamins, and high dietary fiber.

The hemp seeds contain specific properties that help in reducing the risk of various illnesses. It helps in overcoming cardiovascular disease and Alzheimer's disease. In addition, it is used as a remedy for a wide range of conditions, such as stress and skin-related issues. All these beneficial factors of the hemp seed are driving the market’s growth.

New Product Launches Drive the Global Hemp Seeds Market Growth.
The manufacturers are updating with various innovative product launches with the changing consumer preferences and requirements. With the rising health awareness, people are preferring healthy food habits. The industrially used hemp must have less than 0.3 % THC. The various forms of hemp are used in making healthy products for health-conscious consumers.

The new product developments are driving the market growth. Hemp flour, oil, and protein is used in producing hemp-based food products. For instance, in April 2020, QEMP announced the launch of qemp ZERO, a pure hemp seed oil with no THC and a blend of organic herbs. The product has various benefits, including non-GMO, vegan, antioxidant support, and others. Similarly, in Feb 2022, PepsiCo announced the launch of the Rockstar Energy drink that is infused with hemp seed, with legal restrictions as those made with cannabis compound.

The High Cost and the Strict Regulations Restrains Market Growth.
The high production costs and strict regulations and policies are restraining the growth of the hemp seeds market. In addition, the easy availability of substitute sources may pose a challenge to the market's growth. The production is associated with a high cost, which is anticipated to challenge the market growth. Moreover, sourcing raw materials for hemp seed oil from the cannabis sativa plant is a significant factor hindering market growth.

The various potential risks, such as digestive issues, and skin irritation, may occur or be associated with the usage of hemp seed oil which is also anticipated to hamper the market growth. As per many food regulating agencies across the world, the THC content present in hemp-based products should not exceed 0.3% level. Thus, the ever-changing legal and regulatory scenario for hemp and its usage acts as a significant restraint for the growth of the market.

COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis
The global hemp seeds market is segmented based on form, application, distribution channel, and region.
In the Global Hemp Seeds Market, the Whole Hemp Seed Segment Holds the Largest Market Share.

The global hemp seeds market has been segmented by form into whole hemp seed, hulled hemp seed, hemp protein powder, and others. The whole hemp seed segment held the largest hemp seeds market share of 38.8% in 2022 in the hemp seeds market analysis report. The good nutrient content of the whole hemp seeds drives the segment’s growth.

These whole hemp seeds provide a natural and sustainable source of essential nutrients. The whole hemp seeds are an excellent source of minerals and some insoluble fibres. The hull of the whole hemp seed helps cleanse the colon and eliminate the toxins from the intestine. The whole hemp seeds are the best alternative for animal protein. The nutritional benefits drive the target segment’s growth.

Geographical Analysis
The North America Region Held the Largest Hemp Seeds Market Share.
The global hemp seeds market is segmented into five parts based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The North American hemp seeds market held the largest market share of 38.6% in 2022 in the hemp seeds market analysis. The growing use of hemp seeds in food and personal care products production drives market growth in this region.

The growing consumption and production of hemp seeds in the U.S. and Canada are increasing the hemp seeds market in this region. The consumers of this region are adopting hemp seeds for their rich protein content, essential fatty acids, and other valuable nutrients. North America’s favourable regulatory environment and distribution networks help in the expansion of the market in this region.

Competitive Landscape
The major global players in the market include Manitoba Harvest, Hemp Oil Canada Inc., Canah International, Hempflax BV, BAFA neu GmbH, Liaoning Qiaopai Biotech Co., Ltd., North American Hemp & Grain Co., Yunnan HuaFang Industrial Hemp Co Ltd., GFR Ingredients Inc., and Naturally Splendid Enterprises Ltd.

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:
Covid-19 Impact:
The unprecedented COVID-19 pandemic in 2020 profoundly affected the food support and services industry. Covid-19 has considerably impacted the global food supply chain phases involving hemp seeds production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments.

Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.

The COVID-19 pandemic issue has had an impact on the food support and services industry as well. The COVID-19 pandemic is upending life, and the food support and service sector is seeing increased trends like hemp seeds. The food support and services businesses are launching innovative programs, including hemp seeds, that are straightforward to utilize.

Why Purchase the Report?
• To visualize the global hemp seeds market segmentation based on form, application, distribution channel, and region and understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of hemp seeds market-level with all segments.
• The PDF report includes a comprehensive market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.
The Global Hemp Seeds Market report would provide approximately 61 tables, 61 figures and 165 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies