“Global Hemp Seeds Market Report and Forecast 2022-2027”
The global hemp seeds market size is expected to grow at a CAGR of 11.20% during the forecast period 2022-2027
Expert Market Research’s ‘Global Hemp Seeds Market Size, Report and Forecast 2022-2027’ provides an in-depth view of the global hemp seeds market, evaluating on the basis of its segments such as shape, the application and the main regions.
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Key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 11.20%
Hemp seeds are widely used mainly in textiles, fabrics in the form of fibers, automotive parts, building materials and other products. Hemp seeds have many health benefits, including increasing metabolism, boosting immunity, and reducing inflammation and chronic pain. The hemp seed market is expected to be driven by the growing demand for hemp oil in the food, pharmaceutical and personal care markets over the forecast period.
Some of the key regions in the global hemp seeds market are expected to be Europe and North America. North America is one of the major consumers in the global market, due to its numerous application industries. Additionally, the North American personal care market is expected to witness an increase in demand for hemp oil. This is due to high levels of consumer disposable income, a growing geriatric population, and growing concerns about skin disease and UV protection.
Hemp Seed Industry Definition and Major Segments
Part of the Cannabis Sativa plant, hemp seeds refer to the small, brown seeds of the plant that contain a significantly high volume of healthy fats, proteins, minerals, and fiber. In the hemp seed market, hemp seeds are readily available as whole seeds, hemp oil, shelled seeds, and protein powders.
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Based on form, the market is segmented into:
• Seed oil
• Protein powder
Based on Application, the market is split into:
• Food and drink
• Personal care products
• Industrial products
Major regional markets include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Hemp Seed Market Trends
Rising awareness of the nutritional qualities of hemp seeds is one of the major factors driving the growth of the global hemp seeds market. Additionally, hemp seeds are used by patients with chronic diseases owing to their medicinal benefits, which is helping the market grow. The increasing shift of people towards vegan lifestyles is expected to propel the demand for hemp seed-rich food products, which, in turn, would drive the growth of the hemp seed market.
However, many countries do not promote the use of hemp seeds or hemp products and have imposed restrictions on the use of industrial hemp due to its similarities to the narcotic of cannabis. This might hamper the growth of the market over the forecast period. Nevertheless, growing demand from sectors such as food and beverage, personal care, animal feed, and other industrial applications is expected to propel the market in the coming years.
The growing demand for processed and ready-to-eat food products, especially among young people and urban populations, is driving the consumption of hemp-based food products such as cereals, bars, smoothies and yogurts. Additionally, the prevailing vegan trend has resulted in a gradual shift from meat and dairy to alternatives such as hemp-based foods in order to meet recommended levels of protein consumption.
Main market players
Major Players Covered in the Global Hemp Seeds Market Report Include:
- Manitoba Harvest
- Hemp Oil Canada Inc
- Canah International
- Hemplin B.V.
- BAFA neu GmbH
- Liaoning Qiaopai Biotech Co.,Ltd
- North American Hemp and Grain Company
The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments from major market players.
The report studies the latest market updates along with their impact on the market. It also analyzes market demand, along with its price and demand indicators. The report also tracks the market based on SWOT and Porter’s Five Forces models.
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