Global Hemp Seeds Market to Grow at 9.8% During 2024-2032, Spurred by Growing Health Consciousness Among Masses

August 05, 2021 | Agriculture

According to the latest report by IMARC Group, titled "Hemp Seeds Market Report by Source (Conventional, Organic), Form (Whole Hemp Seed, Hulled Hemp Seed, Hemp Seed Oil, Hemp Protein Powder, and Others), Packaging (Pouches, Jars, Tins, and Others), Application (Food & Beverages, Nutritional Supplements, Pharmaceuticals, Cosmetics, and Others), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, and Others), and Region 2024-2032," the global hemp seeds market reached a value of US$ 1,038.8 Million in 2023. 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 9.8% during 2024-2032.

Market Summary:

  • 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Segment Coverage Source, Form, Packaging, Application, Distribution Channel, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico, Turkey, Saudi Arabia
Companies Covered 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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Global Hemp Seeds Market to Grow at 9.8% During 2024-2032, Spurred by Growing Health Consciousness Among Masses
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