Hemp Seeds Market

Hemp Seeds Market Size:

The global hemp seeds market size reached US$ 1,038.8 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 2,409.0 Million by 2032, exhibiting a growth rate (CAGR) of 9.8% during 2024-2032. The market is experiencing steady growth driven by increasing consumer awareness regarding hemp seeds' health benefits, escalating product applications across industries, rising demand in vegan and plant-based diets, rapid technological advancements in processing, expanding e-commerce channels, and the shifting preference towards sustainable and organic products.

Hemp Seeds Market Analysis:

• Market Growth and Size: The global hemp seeds market is experiencing steady growth, driven by increasing product demand from various industries and the growing awareness of the health benefits associated with hemp seeds.
• Major Market Drivers: The key drivers fueling the market growth include the surging environmental concerns, growing demand for sustainability, and the surging product incorporation into industry-specific solutions, such as adhesives and sealants, are also major drivers.
• Technological Advancements: Ongoing technological advancements have led to the development of high-performance and eco-friendly hemp seeds, meeting industry-specific requirements, which are enhancing the appeal of hemp seeds in various applications.
• Industry Applications: Hemp seeds find wide-ranging applications in umpteen formulations across industries such as construction, automotive manufacturing, aerospace assembly, electronics, healthcare, and packaging.
• Key Market Trends: Notable market trends include a growing shift towards eco-friendly formulations in various industries, increased emphasis on miniaturization in electronics, and the expansion of the market in emerging economies, particularly in Asia-Pacific, driven by urbanization and industrialization.
• Geographical Trends: Asia-Pacific is witnessing substantial growth in the hemp seeds market due to rapid urbanization and industrialization. North America and Europe continue to be key markets with a strong focus on innovation, research, and development.
• Competitive Landscape: The market is highly competitive, with several major players competing for market share. Companies are heavily investing in research and development (R&D) to stay competitive and bring innovative hemp seed products to market.
• Challenges and Opportunities: Challenges include regulatory compliance and meeting industry standards, particularly in sectors like healthcare and electronics. Opportunities abound in addressing environmental concerns by offering sustainable hemp seed solutions and creating innovative products for evolving industries like electronics and renewable energy.

Hemp Seeds Market Trends:

Increasing awareness of health benefits of the product

The global hemp seeds market is witnessing a remarkable surge due to the increasing awareness of the health benefits associated with these tiny powerhouses of nutrition. Hemp seeds are gaining recognition as a superfood owing to their high nutritional value. They are a rich source of essential nutrients, including protein, fiber, vitamins, and minerals. Particularly notable is their high omega-3 fatty acid content, which contributes to heart health and overall well-being. As consumers become more health-conscious, the demand for hemp seeds as a natural and nutrient-packed dietary addition has soared.

Expanding applications across industries

The versatility of hemp seeds in various industries, such as food and beverages (F&B), cosmetics, and pharmaceuticals, has expanded their market footprint. In the F&B sector, hemp seeds are finding their way into a plethora of products, including protein bars, snacks, and non-dairy milk alternatives, catering to diverse consumer preferences. Furthermore, the cosmetic industry is harnessing the skincare benefits of hemp seeds, incorporating them into creams, lotions, and oils for their moisturizing and anti-inflammatory properties. In the pharmaceutical sector, ongoing research into the potential health benefits of hemp compounds is opening new avenues.

Relaxation of regulatory barriers

One of the pivotal factors driving the global hemp seeds market is the relaxation of regulatory barriers surrounding hemp cultivation and trade in several countries. Hemp faced strict regulations due to its association with marijuana; however, as awareness of the distinct properties of hemp and its low tetrahydrocannabinol (THC) content spreads, many nations have eased restrictions on hemp production. This shift has led to increased cultivation and trade, providing a significant boost to the hemp seeds market. The regulatory changes reflect a broader acceptance of hemp as an industrial and agricultural commodity, encouraging investment and growth in this sector.

Rising demand for vegan and plant-based diets

Hemp seeds have found a prominent place in the diets of vegans and individuals embracing plant-based eating. As veganism and plant-based diets gain traction for their environmental and health benefits, hemp seeds have emerged as a valuable source of protein and essential nutrients. They are a complete protein, containing all essential amino acids, making them an attractive option for those seeking alternative protein sources to meat and dairy. With the growing trend towards sustainable and ethical food choices, hemp seeds have become a staple ingredient in plant-based recipes, including smoothies, salads, and protein-packed snacks. The increasing adoption of vegan and plant-based diets is a driving force behind the burgeoning demand for hemp seeds in the global market.

Hemp Seeds Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on source, form, packaging, application, and distribution channel.

Breakup by Source:

• Conventional
• Organic
   

The report has provided a detailed breakup and analysis of the market based on the source. This includes conventional and organic.

The conventional segment is driven by the increasing demand for hemp seeds in mainstream consumer products. As hemp seeds gain popularity for their nutritional value, they are integrated into various food, beverage, and cosmetic items. Moreover, the conventional segment benefits from the relaxed regulations surrounding hemp cultivation in many regions, allowing for larger-scale production and greater accessibility.

On the other hand, the organic segment is driven by the growing consumer preference for natural and chemical-free products. Health-conscious individuals seeking clean and organic options are drawn to organic hemp seeds, which are cultivated without synthetic pesticides or fertilizers. The segment also aligns with the broader trend toward sustainable and environmentally friendly choices, appealing to consumers who prioritize both their health and the planet's well-being.

Breakup by Form:

• Whole Hemp Seed
• Hulled Hemp Seed
• Hemp Seed Oil
• Hemp Protein Powder
• Others
   

Whole hemp seed holds the largest share in the industry

A detailed breakup and analysis of the market based on the form have also been provided in the report. This includes whole hemp seed, hulled hemp seed, hemp seed oil, hemp protein powder, and others. According to the report, whole hemp seed accounted for the largest market share.

The whole hemp seed segment is driven by the increasing consumer awareness of the nutritional benefits offered by hemp seeds. As people become more health-conscious, they are seeking out whole hemp seeds for their rich protein content, essential fatty acids, and vitamins. Additionally, the versatility of whole hemp seeds in various culinary applications, such as salads, smoothies, and snacks, is expanding their market appeal.

The hulled hemp seeds segment, often referred to as hemp hearts, are primarily driven by the rising demand in the health food and snacks industry. They have the outer shell removed, making them more palatable and versatile. They are an excellent source of plant-based protein and omega-3 fatty acids, making them a sought-after ingredient in health-focused products, including protein bars, cereals, and dairy alternatives.

The hemp seed oil segment growth is propelled by its diverse applications in the cosmetic, pharmaceutical, and food industries. The increasing trend toward natural and organic skincare products has led to a surge in the use of hemp seed oil for its moisturizing and anti-inflammatory properties.

The hemp protein powder segment is driven by the expanding market for plant-based protein alternatives. With the growing popularity of vegan and vegetarian diets, hemp protein powder is gaining traction as an excellent source of protein, rich in essential amino acids.

The other segments of the hemp market, including textiles, fibers, and construction materials, are primarily driven by the increasing emphasis on sustainability and eco-friendliness.

Breakup by Packaging:

• Pouches
• Jars
• Tins
• Others
   

The report has provided a detailed breakup and analysis of the market based on the packaging. This includes pouches, jars, tins, and others.

The pouches segment is driven by the increasing demand for convenience and portability. Pouches offer lightweight and flexible packaging solutions, making them ideal for on-the-go consumers. The escalating awareness regarding their resealable and single-serving options, coupled with the rising trend of portion control and reduced food wastage, is boosting the segment growth. Furthermore, pouches often come with innovative features like easy-to-open seals, enhancing their appeal to a wide range of products, including snacks, beverages, and pet food.

In contrast, the jars segment capitalizes on its premium and sustainable image. Glass and plastic jars exude quality and transparency, making them suitable for products like gourmet sauces, preserves, and cosmetics, where aesthetics and product visibility play a crucial role. Additionally, jars' durability and recyclability align with environmentally conscious consumer preferences, driving their popularity in sustainable packaging initiatives.

Tins segment, on the other hand, is driven by their robustness and shelf-stability. They are ideal for preserving the freshness and flavor of items such as canned vegetables, meats, and various non-perishable goods. Their ability to protect against light, air, and moisture ensures a longer shelf life, making them a staple in the canned food industry.

Moreover, the other packaging segment encompasses various innovative solutions tailored to specific product requirements. The segment thrives on customization and adaptability, catering to niche markets and unique packaging needs.

Breakup by Application:

• Food & Beverages
• Nutritional Supplements
• Pharmaceuticals
• Cosmetics
• Others
   

Food & beverages represents the leading market segment

The report has provided a detailed breakup and analysis of the market based on the application. This includes food & beverages, nutritional supplements, pharmaceuticals, cosmetics, and others. According to the report, food & beverages accounted for the largest market share.

The food & beverage (F&B) segment is driven by the increasing consumer awareness of the nutritional benefits and versatility of hemp seeds. With their high protein content, essential fatty acids, and vitamins, hemp seeds are becoming a popular choice for health-conscious consumers looking to incorporate nutritious ingredients into their diets. Additionally, the trend towards plant-based diets and the demand for sustainable and organic food options further boost the use of hemp seeds in the food and beverages industry.

The nutritional supplements segment is driven by the rising interest in natural and plant-based supplements among health-conscious individuals. Hemp seeds are rich in nutrients, making them an ideal ingredient for dietary supplements. As people focus on holistic wellness and preventative healthcare, hemp seed-based supplements have gained popularity for their potential health benefits, including improved heart health and overall well-being.

The pharmaceuticals segment is driven by the growing recognition of the potential therapeutic properties of hemp compounds. Research into the medicinal benefits of cannabinoids found in hemp seeds has opened new avenues in the pharmaceutical industry. With regulatory changes allowing for increased research and development (R&D) in this field, hemp seeds are becoming a key player in the pharmaceutical sector, offering potential solutions to various health challenges.

The cosmetics segment is driven by the increasing demand for natural and sustainable ingredients in skincare and beauty products. Hemp seeds' moisturizing properties and rich omega-3 fatty acids make them valuable additions to cosmetics. They are incorporated into creams, lotions, and oils for their hydrating and anti-inflammatory effects.

In the others segment, which includes industries like textiles and industrial materials, hemp seeds are driven by their eco-friendly and sustainable characteristics. Hemp fibers derived from the plant's stalks have long been used in textiles, and hemp seeds' nutritional value adds versatility to this segment.

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Stores
• Others
   

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes supermarkets and hypermarkets, convenience stores, specialty stores, online stores, and others.

The supermarkets and hypermarkets segment is driven by the increasing consumer preference for one-stop shopping destinations that offer a wide range of products under a single roof. These retail giants leverage economies of scale to provide competitive pricing and a vast selection, attracting shoppers seeking convenience and variety.

The convenience stores segment, on the other hand, is boosted by the need for quick and accessible shopping options. Their extended operating hours and strategic locations cater to customers seeking on-the-go solutions, such as snacks and last-minute essentials.

Specialty stores, with their niche focus on particular product categories, appeal to consumers with specific tastes and preferences. Their in-depth product knowledge and curated selections create a unique shopping experience.

Online stores segment has witnessed significant growth due to the digital revolution, offering convenience and a vast array of products delivered to customers' doorsteps. They cater to the tech-savvy, time-strapped, and digitally connected consumers.

The others segment encompasses various retail formats, including department stores, discount stores, and warehouse clubs, which succeed based on their distinct value propositions and target audiences.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
  • Turkey
  • Saudi Arabia
  • Others
     

Asia Pacific leads the market, accounting for the largest hemp seeds market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa (Turkey, Saudi Arabia, and Others). According to the report, Asia Pacific accounted for the largest market share.

The Asia Pacific hemp seeds market is driven by urbanization and industrialization, with an increasing population embracing healthier dietary options. As dietary trends shift towards plant-based and natural foods, hemp seeds have gained prominence as a source of protein and essential nutrients. The region's booming F&B industry is incorporating hemp seeds into a wide range of products to meet consumer demand. Furthermore, the region is witnessing a surge in hemp cultivation, as governments in countries like China and India are recognizing the economic potential of this versatile crop.

The North America hemp seeds market is driven by the increasing demand for hemp-based products, with consumers recognizing the nutritional benefits and versatility of these seeds in various applications. Moreover, the relaxation of regulations surrounding hemp cultivation in parts of the region has stimulated production and trade. The emphasis on sustainable and organic products aligns with hemp seeds' eco-friendly image, further propelling their popularity.

The Europe hemp seeds market is characterized by a growing focus on health-conscious choices, with consumers acknowledging the nutritional value of hemp seeds. The region's stringent quality and safety standards have bolstered consumer confidence in hemp seed products. Europe's well-established F&B industry has incorporated hemp seeds into an array of products, from snacks to beverages, driving market expansion.

The Latin America hemp seeds market is experiencing growth due to the region's favorable climate conditions for hemp cultivation. The increasing awareness of hemp seeds' nutritional value has led to their incorporation into traditional diets, particularly in countries like Mexico and Brazil.

The Middle East and Africa hemp seeds market is emerging as a niche market with the potential for significant growth. The region's arid climate and limited water resources pose challenges to hemp cultivation, but technological advancements in controlled environment agriculture are facilitating production.

Leading Key Players in the Hemp Seeds Industry:

In the highly competitive global hemp seeds market, key players are actively engaged in a range of strategic initiatives to maintain their market presence and drive growth. These initiatives encompass innovation in product development, expansion of distribution networks, and sustainability practices. Many major players are investing significantly in research and development (R&D) to enhance the quality and versatility of hemp seed products, meeting the evolving demands of various industries. Furthermore, companies are expanding their distribution channels, both offline and online, to reach a broader consumer base. Sustainability has become a focal point, with key players adopting eco-friendly practices in cultivation and processing to align with consumer preferences for environmentally responsible products.

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• BAFA Neu GmbH
• Canah International Srl
• Deep Nature Project GmbH
• GFR Ingredients Inc.
• Green Source Organics Inc.
• Hempco Food and Fiber Inc. (Aurora Cannabis Inc.)
• HempFlax Group B.V.
• Liaoning Qiaopai Biotech Co. Ltd.
• Manitoba Harvest Hemp Foods (Tilray Inc)
• Naturally Splendid Enterprises Ltd.
• Navitas LLC
• North American Hemp & Grain Ltd.
• Yunnan Hua Fang Industrial Hemp Co. Ltd.
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Latest News:

• In September 2022: BAFA Neu GmbH announced a strategic partnership with a leading agricultural research institution to enhance their hemp seed breeding programs. This collaboration aims to develop new hemp seed varieties with improved yield and disease resistance.
• In June 2022: Canah International Srl expanded its hemp seed cultivation operations by acquiring additional farmland in Eastern Europe. This move is in response to the increasing global demand for high-quality hemp seeds.
• In November 2022: Deep Nature Project GmbH collaborated with a leading university to conduct research on the potential health benefits of hemp seeds. Initial findings suggest promising results related to the nutritional and therapeutic properties of hemp seeds.

Hemp Seeds Market Report Scope:

Key Questions Answered in This Report:

• How has the global hemp seeds market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global hemp seeds market?
• What is the impact of each driver, restraint, and opportunity on the global hemp seeds market?
• What are the key regional markets?
• Which countries represent the most attractive hemp seeds market?
• What is the breakup of the market based on the source?
• Which is the most attractive source in the hemp seeds market?
• What is the breakup of the market based on the form?
• Which is the most attractive form in the hemp seeds market?
• What is the breakup of the market based on packaging?
• Which is the most attractive packaging in the hemp seeds market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the hemp seeds market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the hemp seeds market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global hemp seeds market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the hemp seeds market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global hemp seeds market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the hemp seeds industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.