Hemp Seed Market Research, 2032
The global hemp seed market was valued at $5.1 billion in 2022, and is projected to reach $11.7 billion by 2032, growing at a CAGR of 8.9% from 2023 to 2032. Industrial hemp, also known as cannabis sativa, is a plant used primarily for industrial and therapeutic purposes. It is used to create a variety of culinary and pharmaceutical items. It is processed into a variety of commercial items, including rope, textiles, apparel, food, and animal feed.
Hemp seeds are generally consumed uncooked or used as dry sprout powder. Hemp seeds are ground to form a slurry that is used in baking or beverages such as hemp milk. Hemp oil is extracted from the seed and offers several health advantages.
The rising consumer health consciousness, as well as the increasing understanding of many nutritional advantages of hemp seeds, is largely driving the global market growth. Furthermore, the rising prevalence of various forms of cancer is boosting the usage of hemp-based products to treat chemotherapy-induced nausea, chronic pain, exhaustion, and other symptoms in cancer patients. Furthermore, the shifting consumer preference away from high-calorie foods and towards a protein-rich diet is expanding the market for hemp seeds. In accordance with this, rising demand for processed and ready-to-eat food products, particularly among the millennial and urbanized populations, is growing consumption of hemp-based cereals, bars, smoothies, and yoghurt. Furthermore, the rising popularity of veganism is resulting in a gradual shift away from meat and dairy products and towards hemp-based food items in order to maintain protein intake levels. Apart from that, the developing pharmaceutical sector and increasing usage of bioactive compounds in medications are further driving the use of hemp seeds due to their high number of antioxidants, vitamins, iron, and other nutrients. The rising legalization of industrial hemp for usage in food supplements and personal grooming products will continue to drive the global hemp seed market growth in the upcoming years.
One of the significant factors restraining the hemp seeds market is the regulatory landscape about its cultivation and distribution. While hemp has gained legal recognition in many regions, there are still areas with strict regulations, licensing requirements, or restrictions on the cultivation, sale, or use of hemp seeds. Inconsistencies and ambiguity in the legal framework can create barriers for farmers, producers, and consumers, limiting the availability and accessibility of hemp seed products. In addition, concerns about potential THC contamination and the need for standardized testing protocols may raise uncertainty and caution among certain consumer groups.
Consumers are becoming increasingly worried about their health, and they are carefully evaluating how their food affects their health & wellbeing. Hemp seed oil has recently gained recognition as a product with culinary and alimentary features, as well as medicinal and nutraceutical possibilities. Hemp seed oil is used as a natural health product for skin care, salad dressing oil, and as a nutritional supplement. Milled hemp seed has been used as a source of vegetable protein and nutritional fiber in energy bars, flavored yoghurt, baked goods, and other culinary products. Consumer knowledge of hemp products and their advantages has grown in recent years. This increased consumer awareness is projected to drive the hemp seed market demand expansion in the future.
The key players profiled in this report include MH medical hemp, Naturally Splendid Enterprises Ltd., Manitoba Harvest Hemp Foods, NAVITAS ORGANICS, Plains Industrial Hemp Processing Ltd, Hush Brands Inc., Green Source MKT, HempFlax Group B.V., GenCanna Global USA, Inc., and Ecofibre. Investment and agreement are common strategies followed by major market players. For instance, in May 2020, HempFlax BV, located in the Netherlands, acquired Thermo-Natur, a German manufacturer of natural fiber insulation, and started a building supplies section. Thermo-Natur's current activities, as well as licensing, brand, and product certifications, are included in the transaction. The purchase of certificates, which can take up to 18 months to get independently, allows HempFlax to instantly run a ‘seed to shell’ business model in order to capitalize on Europe's growing consumer demand for sustainable building materials.
The hemp seed market is segmented on the basis of source, form, application, and region. By source, the market is divided into conventional and organic. By form, the market is classified into shelled hemp seed, hemp seed protein, hemp seed oil, whole hemp seed, hulled hemp seed, hemp protein powder, and others. By application, the market is classified into food & beverages, nutritional supplements, cosmetics, pharmaceuticals, textiles, personal care products, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The hemp seed market is segmented into Source, Form and Application.
By source, the conventional sub-segment dominated the market in 2022. The conventional segment plays a vital role in driving the growth of the hemp seeds market. Conventional hemp seeds appeal to a larger market audience that may not prioritize organic or specialist items. Conventional hemp seeds are a more accessible and inexpensive choice than organic hemp seeds, appealing to price-conscious consumers seeking the nutritious advantages of hemp seeds without the premium price tag. The conventional segment benefits from the wider availability and distribution channels. Conventional hemp seeds can be found in mainstream supermarkets, grocery stores, and online marketplaces, ensuring their accessibility to a larger consumer base. This wider reach and visibility contribute to increased market penetration and adoption. These are predicted to be the major factors driving the hemp seed market size during the forecast period.
By form, the whole hemp seed sub-segment dominated the global hemp seed market share in 2022. Whole hemp seeds are highly valued for their nutritional composition. They are rich in plant-based protein, dietary fiber, essential fatty acids, vitamins, and minerals. As consumers become more health-conscious and seek nutrient-dense food options, whole hemp seeds provide a natural and sustainable source of essential nutrients. The rising demand for plant-based and vegan diets has boosted the adoption of whole hemp seeds. With their impressive nutritional profile, whole hemp seeds serve as an excellent alternative protein source for individuals looking to reduce their reliance on animal-based products. In addition, the increasing availability of whole hemp seeds in supermarkets, health food stores, and online platforms has boosted their accessibility to consumers. With a wider range of distribution channels, individuals have more opportunities to discover and incorporate whole hemp seeds into their daily diets. All these factors are projected to drive the segment growth during the forecast period.
By application, the food & beverages sub-segment dominated the global hemp seed market share in 2022. Hemp is increasingly being utilized in food items as it includes vital fatty acids, vitamin E, and minerals such as phosphorus, zinc, potassium, salt, calcium, zinc, and protein. Hemp is most commonly consumed as hemp seed, either raw or roasted. The rising intake of plant-based protein due to the global popularity of veganism is predicted to boost demand for hemp-based processed food products such as bars, flour, snacks, and cheese. Furthermore, the presence of highly digestible fiber in hemp seeds can play a positive role in promoting digestion and supporting overall digestive health. A high-fiber diet, including foods like hemp seeds, has been associated with a lower risk of various digestive disorders, including diverticulosis, hemorrhoids, and irritable bowel syndrome (IBS). . Hemp tortilla chips, hemp corn chips, and hemp hearts are some of the popular hemp-based foods. Hemp is utilized as a breakfast cereal due to its nutrient-rich profile of vital fatty acids, which are necessary for optimum bodily functioning. Furthermore, the rising demand for hemp snacks as post-exercise nourishment is likely to increase in the upcoming years due to their high protein content.
By region, North America dominated the global market in 2022. North America has emerged as a key market for hemp seeds, driven by several factors. The region's increasing acceptance of hemp as a versatile crop and the rising demand for plant-based and sustainable products have contributed to the popularity of hemp seeds. In addition, the legalization of hemp cultivation and the rising awareness of its nutritional benefits have driven the regional market growth. With a strong emphasis on health & wellness, North American consumers are adopting hemp seeds for their rich protein content, essential fatty acids, and other valuable nutrients. The region's favorable regulatory environment and robust distribution networks further support the developing North America hemp seed market forecast period.
Impact of COVID-19 on the Global Hemp Seed Industry
- The occurrence of COVID-19 has had an extensive economic impact on various businesses throughout the world. The pandemic increased the focus on health & wellness, leading to an increase in consumer interest in functional foods and ingredients that support immune health. Hemp seeds, with their nutritional profile and potential health benefits, have witnessed a surge in demand as consumers look for natural and nutritious options..
- The pandemic also presented challenges for the hemp seeds industry. Disruptions in the global supply chain, including transportation and logistics, impacted the availability and distribution of hemp seeds and related products. In addition, economic uncertainties and financial constraints affected consumer spending, potentially impacting the purchasing power and demand for hemp seeds.
- The COVID-19 pandemic disrupted global supply chains, affecting the availability and distribution of hemp seed products. Restrictions on transportation, temporary closures of processing facilities, and delays in international trade have impacted the smooth flow of hemp seed products. This led to some challenges in meeting the increasing demand and maintaining consistent supply.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hemp seed market analysis from 2022 to 2032 to identify the prevailing hemp seed market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hemp seed market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global hemp seed market trends, key players, market segments, application areas, and market growth strategies.
Hemp Seed Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 11.7 billion |
 Growth Rate | CAGR of 8.9% |
 Forecast period | 2022 - 2032 |
 Report Pages | 300 |
 By Source |
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 By Form |
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 By Application |
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 By Region |
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 Key Market Players | Manitoba Harvest Hemp Foods Co-operative Inc., Canah, Plains Industrial Hemp Processing Ltd, HempFlax Group B.V., Navitas Organics, Hempco Inc, Colorado Hemp Works LLC, GFR Ingredients Ltd, MH medical hemp, Konoplex |
As the demand for alternative protein sources increases, hemp seeds are expected to emerge as a valuable option due to their high protein content and complete amino acid profile. The rising popularity of plant-based diets and the need for sustainable protein sources drive the demand for hemp seeds. In addition, the health & wellness industry is experiencing rapid growth, and hemp seeds align well with this trend. The nutritional benefits and potential health advantages of hemp seeds make them an ideal ingredient for functional foods, supplements, and nutraceutical products catering to the health-conscious consumers.
The major growth strategies adopted by hemp seed market players are strategic partnerships and collaborations.
Asia-Pacific is projected to provide more business opportunities for the global hemp seed market in future.
MH medical hemp, Naturally Splendid Enterprises Ltd., Manitoba Harvest Hemp Foods, NAVITAS ORGANICS, Plains Industrial Hemp Processing Ltd, Hush Brands Inc., Green Source MKT, HempFlax Group B.V., GenCanna Global USA, Inc., and Ecofibre are the major players in the hemp seed market.
The food & beverages sub-segment of the application acquired the maximum share of the global hemp seed market in 2022.
The food & beverage manufacturers are the major customers in the global hemp seed market.
The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global hemp seed market from 2022 to 2032 to determine the prevailing opportunities.
The versatility of hemp seeds offers opportunities to explore and develop new product applications. Hemp seeds can be used in a wide range of food & beverage products, including snacks, energy bars, smoothies, and plant-based milk alternatives. In addition, hemp seed oil can be utilized in the personal care and cosmetics industry, offering potential opportunities for skincare, haircare, and other beauty products.
The legalization of hemp and its derived products, such as hemp seeds, varies across different countries and regions. Continued efforts toward legalization, particularly in key markets, can significantly impact the hemp seeds market. Changes in regulations, such as the removal of hemp-related restrictions or the introduction of new guidelines, can drive market growth by expanding the availability and consumer acceptance of hemp products.
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