Global Hemp Seeds Market to Grow at a CAGR of 11.20% During the Period 2024-2032, Driven by Uses in Pharmaceuticals and Nutraceuticals

The global hemp seeds market is expected to be driven by increasing legal sanction being granted to industrial hemp cultivation by authorities, reported health and medicinal benefits of hemp seed and hemp seed oil, growing health consciousness among consumers, applications in foods and beverages, and nutraceutical and pharmacological uses. North America, Europe and Asia are expected to be key markets. France, Canada, South Korea and China are major producers of industrial hemp.

Benefits of hemp seeds include:

Better Hearth Health: Hemp seeds are believed to help maintain safe cholesterol levels and protect heart health.  Amino acids, Arginine and Gamma-Linoleic acid present in hemp help lower inflammation, reduce blood pressure, and improve cardiovascular health.

Improved Digestive Health: Hemp is a good source of insoluble and soluble fibre that stimulates bowel function and prevents constipation. The fibre also gives a feeling of fullness in the belly, slows absorption of glucose and reduces cholesterol levels.

Complete Plant Protein: Hemp seeds carry all 21 amino acids, and are a good source of complete protein.

Insomnia Relief: Hemp seeds carry significant amounts of magnesium which is believed to provide a soothing and relaxing feeling.

Help Regulate Hormones: Gamma-linolenic acid in hemp seeds is believed to help regulate hormones, and alleviate symptoms caused due to hormonal imbalances during menopause, mood swings, depression, and anxiety.

Such health benefits offered by hemp seeds are expected to contribute to the growth of the global hemp seeds market.

Key Industry Developments

In 2022, the number of CBD products with preliminary approval in UK rose to approximately 6,000.

In 2022, a new hemp variety from Italian-Dutch developer Enecta was added to the EU catalogue of common plant varieties, the first cultivar particularly bred for high cannabinoid content to emerge on the official list. The new breed, with the name Enectarol, was rich in cannabigerol (CBG), and developed through five years of research, and marked a major achievement in the company’s quest to produce a new generation of high-performing, high-cannabinoid European hemp strains to complement the fibre and seed varieties. CBG (cannabigerol), is one of 120 cannabinoids present in cannabis.

In 2019, Tilray® announced that it had entered into an agreement to acquire Manitoba Harvest, the world’s largest hemp food company. Manitoba Harvest produced, manufactured, marketed and distributed a wide range of hemp-based consumer products sold across over 16,000 stores at major retailers throughout U.S. and Canada. Products in the Manitoba Harvest portfolio included Hemp Oil™, Hemp Hearts™, Hemp Yeah!™ granola, Hemp Yeah!™ protein powder and Hemp Bliss™ milk.

In 2022, Manitoba Harvest announced that it would unveil the company’s new superfood line-up at the Natural Products Expo West (2022), to be held in Anaheim, CA.

In 2018, Hemp Oil Canada, Inc., announced that the company's entire line of hemp seeds, oil and protein powder received Food and Drug Administration (FDA) clearance as Generally Recognized as Safe (GRAS).

Key Findings of the Report:

• Applications in sectors including pharmaceuticals, nutraceuticals, and food and beverage are expected to drive the global hemp seeds market. 
• Pharmacological properties and nutritional value of hemp seeds, and increasing health consciousness of consumers are likely to stimulate market growth. 
• North America, Europe and Asia are projected to be key markets.

Market Analysis by Form, Application and Region:

• By form, the market is segmented into Whole, Hulled, Seed Oil, and Protein Powder.
• By application, the market is divided into Food and Beverage, Personal Care Products, and Industrial Products.
• By region, the market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

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