Global Hemp Seeds Market Report and Forecast 2024-2032

Global Hemp Seeds Market Outlook

The global hemp seeds market is expected to grow at a CAGR of 11.20% during the period 2024-2032. The market is expected to be driven by increasing legitimacy 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.

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Global Market Likely to be Driven by Applications in Sectors Including Pharmaceuticals, Nutraceuticals, and Food and Beverage

Industrial hemp (Cannabis sativa L., Cannabaceae) originated from Central Asia and has traditionally been a multi-use crop, appreciated for its fibre, food, and medicinal uses. While several countries prohibited the production of industrial hemp due to similarity between industrial hemp and medical/narcotic type of Cannabis, many nations have legalized the production of industrial hemp in the last two decades. France, Canada, South Korea and China are major producers of industrial hemp.

Hemp is considered to offer several nutritional and medicinal benefits. The hemp seed - raw, cooked, or pressed into oil - has been recognized as a primitive source of fibre, fat, and protein, with high nutritive value. Properties of hemp have been employed in treatment and prevention of diseases and ailments for a long time in traditional oriental medicine. In recent times, there has been growing interest in the potential use of industrial hemp in nutraceuticals and food.

Pharmacological Properties and Nutritional Value of Hemp Seeds Likely to Boost Global Hemp Seeds Market

Hemp seed and its derivatives have become increasingly popular and been put to several uses. Hemp seeds are high in nutritional value and pharmacological properties. Hemp seed products have been included in pharmaceuticals, foods and beverages, alternative protein sources, and nutritional supplements.

Hemp seed is associated with multiple health benefits and potential therapies. For example, hemp seed carries an appropriate ratio of omega-6 to omega-3 PUFA, which may enhance cardiovascular health, decrease symptoms of osteoporosis, and lessen conditions associated with eczema. Cannabidiol (CBD) exhibits pharmacological properties, making it a potential therapeutic agent for diseases of the central nervous system, like epilepsy, neurodegenerative diseases, and multiple sclerosis.

Consumption of hemp seed oil has been shown to exhibit positive changes in the serum lipid profile.

Phyto-, endo-, and synthetic cannabinoids exhibit properties that have been suggested to aid in the treatment of cancer related to the prostate, breast, brain, skin, colon, and pancreas.

Hemp seed oil has been traditionally employed to relieve chronic knee pain in patients with rheumatoid arthritis and improve blood circulation.

Concentrated CBD from hemp has exhibited anxiolytic or antianxiety characteristics, suggesting its use in anxiety-related disorders.

Increasing Health Consciousness of Consumers Likely to Drive Global Hemp Seeds Market

Consumers today are becoming increasingly concerned about their health and seriously consider how their diet affects their health and wellbeing. Hemp seed oil has, in recent years, gained prominence as a substance that provides cooking and alimentary services, as well as medicinal and nutraceutical potential. Hemp seed oil is consumed as a natural health product for body care, as oil for salad dressings, or as a dietary supplement. Hemp Seed has been used in milled form as a source of vegetable protein and dietary fibre; it has come to be incorporated into energy bars, flavoured yogurt, baked goods, and other food products.  Recent years have witnessed increasing consumer awareness of hemp products and their benefits. This rise in consumer awareness is expected to drive the market.

Hemp breeding has been taken up by several universities and breeding centres across North America and Europe to develop high-yielding varieties for fibre and oil seed production.

Market Segmentation

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By form, the market is segmented into:

• Whole
• Hulled
• Seed Oil
• Protein Powder

By application, the market is divided into:

• Food and Beverage 
• Personal Care Products 
• Industrial Products

By region, the market is classified into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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Key Industry Players in the Global Hemp Seeds Market

The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Manitoba Harvest
• Hemp Oil Canada Inc.
• Canah International
• Hempflax BV
• BAFA neu GmbH
• Liaoning Qiaopai Biotech Co., Ltd.
• North American Hemp & Grain Co.
• Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report