According to the latest report by IMARC Group, titled "Hemp Seeds Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global hemp seeds market reached a value of US$ 935 Million in 2022. Hemp seeds are brown colored seeds that are obtained from the hemp plant, Cannabis sativa L. They are extremely rich in proteins, fibers, antioxidants, essential fats, amino acids, iron, minerals and vitamins and are known to be one of the most nutritional food products available across the globe. Their consumption aids in boosting metabolism, improving immunity, treating inflammation, alleviating chronic pain and enhancing blood circulation. Widely available in the form of whole seeds, shelled seeds, hemp oil, and protein powder, they find extensive applications across the pharmaceuticals, cosmetic, and food and beverages sectors.
Global Hemp Seeds Market Trends:
The global market is majorly driven by the growing health consciousness among the masses. The rising awareness regarding the numerous health benefits offered by the consumption of hemp seeds has provided an impetus to the market growth. Moreover, the shifting preference of individuals toward the consumption of high-protein foods has also provided a boost to the sales of hemp seeds. The market is further driven by the launch of hemp-based cereals, bars, and yogurt by numerous key players. Coupled with the easy product availability across online and offline organized retail channels, this is acting as a major growth-inducing factor. Furthermore, the increasing utilization of bioactive ingredients in the formulation of numerous drugs is creating a positive outlook for the market. Some of the other factors contributing to the market include inflating disposable income levels of the masses and the numerous initiatives undertaken by several organizations for the legalization of industrial hemp for use in food supplements. On account of the aforementioned factors, the market is expected to grow at a CAGR of 11.1% during 2023-2028.
- Based on the source, the market has been bifurcated into conventional and organic.
- On the basis of the form, the market has been classified into whole hemp seed, hulled hemp seed, hemp seed oil, hemp protein powder, and others.
- Based on the packaging, the market has been divided into pouches, jars, tins, and others.
- On the basis of the application, the market has been categorized into food and beverages, nutritional supplements, pharmaceuticals, cosmetics and others.
- Based on the distribution channel, the market has been segmented into supermarkets and hypermarkets, convenience stores, specialty stores, online stores, and others.
- On the geographical front, the market has been segregated into 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 Middle East and Africa (Turkey, Saudi Arabia and others).
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players 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. and Yunnan Hua Fang Industrial Hemp Co. Ltd.
|Base Year of the Analysis
||Source, Form, Packaging, Application, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico, Turkey, Saudi Arabia
||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. and Yunnan Hua Fang Industrial Hemp Co. Ltd.
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