Global Hemp Seed Market By Product Type (Medicinal, Auto Flowering, Feminized, Regular, Others), Form (Whole Hemp Seed, Shelled Hemp Seed, Hemp Seed Oil, Hemp Seed Protein), Packaging (Pouches, Jars, Tins, Others), Application (Food, Tea and Hemp Juice, Hemp Sacks, Hemp Fibre, Others), Distribution Channel (Direct, Indirect) – Industry Trends and Forecast to 2029
Market Analysis and Size
Hemp seed is regarded as the most nutritious seed in the world due to their numerous beneficial properties, as well as its use as an analgesic in pharmaceuticals. The global hemp seed market is expected to expand as a result of increased demand for hemp seeds over traditional herbal seeds due to their flexibility and as a core product for overall health improvement.
Data Bridge Market Research analyses that the hemp seed market was valued at USD 5.1 billion in 2021 and is expected to reach the value of USD 9.94 billion by 2029, at a CAGR of 8.70% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2014 - 2019)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Product Type (Medicinal, Auto Flowering, Feminized, Regular, Others), Form (Whole Hemp Seed, Shelled Hemp Seed, Hemp Seed Oil, Hemp Seed Protein), Packaging (Pouches, Jars, Tins, Others), Application (Food, Tea and Hemp Juice, Hemp Sacks, Hemp Fibre, Others), Distribution Channel (Direct, Indirect)
U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
Nhempco (Canada), Ecofibre (Australia), Hemp Inc. (US), GenCanna (US), HempFlax Group B.V., (Netherlands), Konoplex (Russia), Hemp Oil Canada (Canada), Hemp Poland (Poland), Dun Agro (Netherlands), Colorado Hemp Works (US), Canah International (Romania), South Hemp Tecno (Italy), Plains Industrial Hemp Processing (Canada), and MH Medical Hemp (Germany)
Hemp seeds refer to small, brown seeds of the Cannabis Sativa plant. They contain less than 1% of psychoactive drugs, whereas marijuana contains more than 20%. Hemp seeds are an excellent source of easily digestible proteins, fibres, amino acids, antioxidants, essential fats, iron, and vitamins.
Hemp Seed Market Dynamics
- Growing adoption of healthy consumables as well as agricultural benefits associated with hemp seed
The growing demand for processed and ready-to-eat food products, particularly among millennials and the urbanised population, is driving up consumption of hemp-based cereals, bars, smoothies, yoghurt, and so on. Furthermore, the prevalent vegan trend has resulted in a gradual shift away from meat and dairy products and toward hemp-based food items in order to maintain protein consumption levels.
- Growing demand for hemp based supplements and personal care products
Hemp is a versatile plant whose seeds are used to make nutritious food. It is related to Cannabis and is a member of the same family. As they contain both GLA (gamma-linoleic acid) and CLA (conjugated linoleic acid), they outperform chia and flax seeds. It also has a healthy fatty acid ratio, 10 essential amino acids, and is high in dietary fibres. The main vitamins found in hemp seeds are phosphorus, potassium, sodium, magnesium, sulphur, calcium, iron, and zinc. Furthermore, hemp is considered allergy-free when compared to other plant protein sources.
Hemp seed are used to make hemp biodiesel, which is suitable for use in any diesel-powered vehicle. Additionally, hemp can be used to produce ethanol, which is currently produced from food crops such as wheat and corn. This would result in increased food production efficiency. Another product that allows for the growth of industrial hemp is bioplastic. Hemp bioplastics are made from hemp seeds and CBD oil by-products. The growing consumer demand for sustainable goods, combined with corporate and government initiatives and support, is expected to fuel the growth of hemp-based biofuel and bioplastics.
However, the high production cost and strict regulation and policies are expected to act as a restraint on the growth of the hemp seed market, whereas the easy availability of substitute sources may pose a challenge to the market's growth.
This hemp seed market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the hemp seed market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Hemp Seed Market
The occurrence of COVID-19 has had a wide-ranging socioeconomic impact on many businesses around the world. This company has suffered greatly as a result of the coronavirus. The market's reliance on hardware manufactured entirely in China will have a significant impact. The lack of hardware will impede the production of hemp-based products, and the disruption in production will have a negative impact on their supply. The pandemic is wreaking havoc on vertically integrated businesses while also disrupting supply chains. As hemp is being used in an increasing number of environmentally friendly products, it's possible that various plant components will be used as raw materials in a variety of industries, including textiles and plastics.
- GenCanna and Atalo Holdings formed a strategic partnership in May 2019 to build a vertically integrated hemp processing and distribution facility in Kentucky.
- In May 2019, GenCanna and Thar PArocess announced a collaboration to bring the new CO2 hemp extraction technology to market.
- Hemp Inc. formed a joint venture with Hemp Healthcare in January 2019 to sell high-end CBD and hemp-based products, expanding the company's presence in Arizona.
Global Hemp Seed Market Scope
The hemp seed market is segmented on the basis of product type, form, packaging, application and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Auto Flowering
- Whole Hemp Seed
- Shelled Hemp Seed
- Hemp Seed Oil
- Hemp Seed Protein
- Modern trade format
- Convenience stores
- Departmental stores
- Tea and Hemp Juice
- Hemp Sacks
- Hemp Fibre
Hemp Seed Market Regional Analysis/Insights
The hemp seed market is analysed and market size insights and trends are provided by country, product type, form, packaging, application and distribution channel as referenced above.
The countries covered in the hemp seed market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America leads the hemp seed market due to increased consumption. Asia-Pacific is expected to grow at a significant rate from 2022 to 2029 due to high demand for hemp seeds in India and China.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Hemp Seed Market Share Analysis
The hemp seed market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hemp seed market.
Some of the major players operating in the hemp seed market are:
- Nhempco (Canada)
- Ecofibre (Australia)
- Hemp Inc. (US)
- GenCanna (US)
- HempFlax Group B.V., (Netherlands)
- Konoplex (Russia)
- Hemp Oil Canada (Canada)
- Hemp Poland (Poland)
- Dun Agro (Netherlands)
- Colorado Hemp Works (US)
- Canah International (Romania)
- South Hemp Tecno (Italy)
- Plains Industrial Hemp Processing (Canada)
- MH Medical Hemp (Germany)