REPORT SCOPE & OVERVIEW
The Hemp Seed Market size was USD 975.9 million in 2022 and is expected to Reach USD 2248.9 million by 2030 and grow at a CAGR of 11% over the forecast period of 2023-2030.
Hemp seed is a nutrient-rich food that offers a variety of health benefits. It is a good source of protein, fiber, omega-3 fatty acids, and vitamins and minerals. Hemp seed is also a sustainable and eco-friendly crop.
Based on form, the whole hemp seed segment dominated the hemp seed market share in 2022. Whole hemp seeds are the intact seeds of the hemp plant. They are small, brown seeds with a nutty flavor. Whole hemp seeds are a good source of protein, fiber, omega-3 fatty acids, and vitamins and minerals. Whole hemp seeds provide a natural and sustainable supply of critical nutrients as consumers become more health-conscious and seek nutrient-dense dietary options. The growing popularity of plant-based and vegan diets has encouraged the use of entire hemp seeds. Manufacturers have more opportunities to find and include whole hemp seeds in their everyday meals to a larger variety of distribution outlets. All of these elements are anticipated to fuel segment growth during the forecast period.
Rising Health Consciousness among Consumers
Hemp seed and its derivatives are becoming increasingly popular and have a variety of applications. Hemp seeds have significant nutritional value as well as medicinal effects. Pharmaceuticals, meals and drinks, alternative nutritional supplements, and protein sources have all used hemp seed products. Hemp seed has been linked to a variety of health benefits and potential cures. Hemp seed, for example, contains an optimum ratio of omega-6 to omega-3 PUFA, which may improve cardiovascular health, reduce osteoporosis symptoms, and alleviate eczema-related disorders. Cannabidiol (CBD) has pharmacological features that make it a promising treatment for central nervous system illnesses such as neurodegenerative diseases, epilepsy, and multiple sclerosis.
Strict regulatory framework
The stringent regulatory structure that oversees the manufacturing and sale of hemp seed products is one of the constraints. Hemp is still categorized as a restricted substance in many countries, and enterprises must seek specific licenses and permits to produce and sell hemp seed products. These stringent laws have the potential to significantly increase the cost and complexity of the hemp seed sector. Businesses, for example, may need to invest in costly testing equipment and pay expert personnel to comply with all applicable rules. Small firms may find it challenging to compete in the market as a result of this. Furthermore, tight restrictions can cause customer confusion and uncertainty. Customers may be skeptical about the legality of hemp seed goods, or they may be apprehensive about the safety of hemp seed products.
Industrial applications of hemp seeds
Since hemp seed oil is a renewable and sustainable source of energy, it can be utilized to create biofuel. Hemp seeds are used to produce bioplastics that may be composted and biodegraded. Additionally, building products like insulation and composites can be made from hemp seed. Building materials made of hemp are renewable and economical to use. Furthermore, hemp seeds its wide applications in the cosmetic and personal care sector shampoos, conditioners, and lotions among other products using hemp seed oil. Hemp seed oil is well known for its hydrating and calming qualities. Governments from all around the world are encouraging the growth of the industrial hemp sector. Businesses are now able to invest in new technology and increase their production capacity thanks to this.
Lack of awareness of hemp seeds
The advantages of hemp seeds for health and the variety of hemp seed products are not widely known among customers. Consumers aren't attempting hemp seed goods because of the lack of knowledge, which is causing the market to grow. Because they are unfamiliar with hemp seed products, businesses and consumers may be cautious to try them. Hemp seeds are unfamiliar to many customers, and many have never even tried them. Because they are unaware of what to expect, consumers may be reluctant to try hemp seed products as a result.
High Production Cost
IMPACT OF RUSSIA-UKRAINE WAR
Russia and Ukraine are both significant producers of hemp seeds and fertilizers, the war has increased the cost of producing hemp seeds. Additionally, the war has raised demand for goods made from hemp, including CBD oil and hemp fiber. Some farmers who were considering cultivating hemp are now planting more wheat and corn as a result of rising commodity prices. Despite the fighting, a Canadian hemp company buys seeds from Ukraine in 2023. It was intended to cultivate hemp for bast fiber, which is utilized in a variety of goods, including clothing, packaging, and textiles.
IMPACT OF ONGOING RECESSION
The recession has impacted the hemp seeds market. The disruption in the supply chain of hemp seeds decreased the demand for the industrial applications of hemp seeds. Due to the recession, consumers may spend less on hemp seed products as they look for other alternatives of hemp seeds with the same nutritional content. Since the beginning of the war, the cost of hemp seeds has grown by up to 50%. Other food and beverage manufacturers may become more competitive with companies in the hemp seed sector as they aim to draw customers looking for inexpensive and wholesome food options. During a recession, governments might boost the hemp seed sector. This might lessen the recession's detrimental effects on the sector.
Hemp Seed Oil
Hemp Seed Protein
Whole Hemp Seed
Hulled Hemp Seed
Hemp Protein Powder
Food and Beverages
Personal Care Products
The Asia-Pacific region dominated the hemp seeds market. China is the biggest hemp seed exporting country, with over USD 116 million in global imports. India was another Asia-Pacific country that ranked ninth in terms of hemp seed exports, with over USD 26.5 million in exports. In terms of total imports of more than USD 57 million, South Korea dominated the Asia-Pacific region.
The European region held the second-largest hemp seed market with a CAGR rate of 14% in 2022. Germany imports hemp seed worth more than US$ 124 million, followed by the Netherlands, which imports hemp seed worth US$ 63 million. The Netherlands was also responsible for being the leading exporter of hemp seeds in the European Region with US$ 72 million worth of exports followed by Austria with US$ 59 million worth of exports.
The United States was the world's largest importer of Hemp Seeds in the year 2022 with USD 172 million worth of imports. This can be attributed to the healthcare and cosmetics industry in the US making more investments to develop the dermatological applications of hemp seeds in healthcare and cosmetics products.
Rest of Eastern Europe
Rest of Western Europe
Rest of Asia Pacific
Middle East & Africa
Rest of the Middle East
Rest of Africa
Rest of Latin America
Some major key players in the Torpedo Market are Deep Nature Project GmbH, GFR Ingredients Inc., Hempco Food and Fiber Inc., HempFlax Group B.V., Liaoning Qiaopai Biotech Co. Ltd., BAFA Neu GmbH, Manitoba Harvest Hemp Foods, Green Source Organics Inc., Naturally Splendid Enterprises Ltd., Canah International Srl, North American Hemp & Grain Ltd., Navitas LLC and Yunnan Hua Fang Industrial Hemp Co. Ltd. and other key players.
GFR Ingredients Inc-Company Financial Analysis
In April 2023, Manitoba Harvest, the top hemp food company in the world and a subsidiary of Tilray Brands, Inc., will launch its first Regenerative Organic CertifiedTM Hemp Hearts exclusively in a few Whole Foods Market locations around the country. Following the exclusive time, Whole Foods Market and other stores across the United States and Canada will still carry the product.
In July 2022, Applied Food Sciences introduced PurHP-75TM, a hemp seed protein component for "Juicy, Firm, & Authentic" Alt-Meats. The organic ingredient is made from hemp hearts and includes 75% protein, containing all nine essential amino acids.
In Feb 2022, PepsiCo launched Rockstar Energy-branded hemp seed beverage. Pepsi hopes that its new beverage, which contains only 80 milligrams of caffeine and is infused with hemp seed oil, spearmint, and lemon balm, will draw in younger, more feminine consumers.
|Market Size in 2022||US$ 975.9 Million|
|Market Size by 2030||US$ 2248.9 Million|
|CAGR||CAGR of 11 % From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Form (Hemp Seed Oil, Hemp Seed Protein, Whole Hemp Seed, Hulled Hemp Seed, Hemp Protein Powder, and Others)
• By Application (Food and Beverages, Cosmetics, Nutritional Supplements, Industrial products, Pharmaceuticals, Personal Care Products, and Others)
|Regional Analysis/Coverage||North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)|
|Company Profiles||Deep Nature Project GmbH, GFR Ingredients Inc., Hempco Food and Fiber Inc., HempFlax Group B.V., Liaoning Qiaopai Biotech Co. Ltd., BAFA Neu GmbH, Manitoba Harvest Hemp Foods, Green Source Organics Inc., Naturally Splendid Enterprises Ltd., Canah International Srl, North American Hemp & Grain Ltd., Navitas LLC and Yunnan Hua Fang Industrial Hemp Co. Ltd.|
|Key Drivers||• Rising Health Consciousness among Consumers|
|Market Opportunity||• Industrial applications of hemp seeds|
Ans: Hemp Seed Market is anticipated to expand by 11% from 2023 to 2030.
Ans: USD 2248.9 million is expected to grow by 2030.
Ans: Industrial uses of hemp seeds are the opportunities of the Hemp Seed Market.
Ans: Lack of awareness of hemp seeds and high production of hemp seeds are the challenges of the Hemp Seed Market.
Ans: The Asia Pacific region dominate the Hemp Seed market in 2022.
TABLE OF CONTENT
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 Impact of Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.3.1 Impact on Major Economies
22.214.171.124 United Kingdom
126.96.36.199 South Korea
188.8.131.52 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Hemp Seed Market Segmentation, By Form
8.1 Hemp Seed Oil
8.2 Hemp Seed Protein
8.3 Whole Hemp Seed
8.4 Hulled Hemp Seed
8.5 Hemp Protein Powder
9. Hemp Seed Market Segmentation, By Application
9.1 Food and Beverages
9.3 Nutritional Supplements
9.4 Industrial products
9.6 Personal Care Products
10. Regional Analysis
10.2 North America
10.2.1 North America Hemp Seed Market by Country
10.2.2 North America Hemp Seed Market by Form
10.2.3 North America Hemp Seed Market by Application
10.2.4.1 USA Hemp Seed Market by Form
10.2.4.2 USA Hemp Seed Market by Application
10.2.5.1 Canada Hemp Seed Market by Form
10.2.5.2 Canada Hemp Seed Market by Application
10.2.6.1 Mexico Hemp Seed Market by Form
10.2.6.2 Mexico Hemp Seed Market by Application
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Hemp Seed Market by Country
10.3.1.2 Eastern Europe Hemp Seed Market by Form
10.3.1.3 Eastern Europe Hemp Seed Market by Application
10.3.1.4.1 Poland Hemp Seed Market by Form
10.3.1.4.2 Poland Hemp Seed Market by Application
10.3.1.5.1 Romania Hemp Seed Market by Form
10.3.1.5.2 Romania Hemp Seed Market by Application
10.3.1.6.1 Hungary Hemp Seed Market by Form
10.3.1.6.2 Hungary Hemp Seed Market by Application
10.3.1.7.1 Turkey Hemp Seed Market by Form
10.3.1.7.2 Turkey Hemp Seed Market by Application
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Hemp Seed Market by Form
10.3.1.8.2 Rest of Eastern Europe Hemp Seed Market by Application
10.3.2 Western Europe
10.3.2.1 Western Europe Hemp Seed Market by Country
10.3.2.2 Western Europe Hemp Seed Market by Form
10.3.2.3 Western Europe Hemp Seed Market by Application
10.3.2.4.1 Germany Hemp Seed Market by Form
10.3.2.4.2 Germany Hemp Seed Market by Application
10.3.2.5.1 France Hemp Seed Market by Form
10.3.2.5.2 France Hemp Seed Market by Application
10.3.2.6.1 UK Hemp Seed Market by Form
10.3.2.6.2 UK Hemp Seed Market by Application
10.3.2.7.1 Italy Hemp Seed Market by Form
10.3.2.7.2 Italy Hemp Seed Market by Application
10.3.2.8.1 Spain Hemp Seed Market by Form
10.3.2.8.2 Spain Hemp Seed Market by Application
10.3.2.9.1 Netherlands Hemp Seed Market by Form
10.3.2.9.2 Netherlands Hemp Seed Market by Application
10.3.2.10.1 Switzerland Hemp Seed Market by Form
10.3.2.10.2 Switzerland Hemp Seed Market by Application
10.3.2.11.1 Austria Hemp Seed Market by Form
10.3.2.11.2 Austria Hemp Seed Market by Application
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Hemp Seed Market by Form
10.3.2.12.2 Rest of Western Europe Hemp Seed Market by Application
10.4.1 Asia Pacific Hemp Seed Market by Country
10.4.2 Asia Pacific Hemp Seed Market by Form
10.4.3 Asia Pacific Hemp Seed Market by Application
10.4.4.1 China Hemp Seed Market by Form
10.4.4.2 China Hemp Seed Market by Application
10.4.5.1 India Hemp Seed Market by Form
10.4.5.2 India Hemp Seed Market by Application
10.4.6.1 Japan Hemp Seed Market by Form
10.4.6.2 Japan Hemp Seed Market by Application
10.4.7 South Korea
10.4.7.1 South Korea Hemp Seed Market by Form
10.4.7.2 South Korea Hemp Seed Market by Application
10.4.8.1 Vietnam Hemp Seed Market by Form
10.4.8.2 Vietnam Hemp Seed Market by Application
10.4.9.1 Singapore Hemp Seed Market by Form
10.4.9.2 Singapore Hemp Seed Market by Application
10.4.10.1 Australia Hemp Seed Market by Form
10.4.10.2 Australia Hemp Seed Market by Application
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Hemp Seed Market by Form
10.4.11.2 Rest of Asia-Pacific Hemp Seed Market by Application
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Hemp Seed Market by Country
10.5.1.2 Middle East Hemp Seed Market by Form
10.5.1.3 Middle East Hemp Seed Market by Application
10.5.1.4.1 UAE Hemp Seed Market by Form
10.5.1.4.2 UAE Hemp Seed Market by Application
10.5.1.5.1 Egypt Hemp Seed Market by Form
10.5.1.5.2 Egypt Hemp Seed Market by Application
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Hemp Seed Market by Form
10.5.1.6.2 Saudi Arabia Hemp Seed Market by Application
10.5.1.7.1 Qatar Hemp Seed Market by Form
10.5.1.7.2 Qatar Hemp Seed Market by Application
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Hemp Seed Market by Form
10.5.1.8.2 Rest of Middle East Hemp Seed Market by Application
10.5.2.1 Africa Hemp Seed Market by Country
10.5.2.2 Africa Hemp Seed Market by Form
10.5.2.3 Africa Hemp Seed Market by Application
10.5.2.4.1 Nigeria Hemp Seed Market by Form
10.5.2.4.2 Nigeria Hemp Seed Market by Application
10.5.2.5 South Africa
10.5.2.5.1 South Africa Hemp Seed Market by Form
10.5.2.5.2 South Africa Hemp Seed Market by Application
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Hemp Seed Market by Form
10.5.2.6.2 Rest of Africa Hemp Seed Market by Application
10.6 Latin America
10.6.1 Latin America Hemp Seed Market by Country
10.6.2 Latin America Hemp Seed Market by Form
10.6.3 Latin America Hemp Seed Market by Application
10.6.4.1 Brazil Hemp Seed Market by Form
10.6.4.2 Brazil Hemp Seed Market by Application
10.6.5.1 Argentina Hemp Seed Market by Form
10.6.5.2 Argentina Hemp Seed Market by Application
10.6.6.1 Colombia Hemp Seed Market by Form
10.6.6.2 Colombia Hemp Seed Market by Application
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Hemp Seed Market by Form
10.6.7.2 Rest of Latin America Hemp Seed Market by Application
11. Company Profile
11.1 Deep Nature Project GmbH
11.1.1 Company Overview
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 GFR Ingredients Inc.
11.2.1 Company Overview
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Green Source Organics Inc.
11.3.1 Company Overview
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 Hempco Food and Fiber Inc.
11.4 Company Overview
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 BAFA Neu GmbH
11.5.1 Company Overview
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Canah International Srl
11.6.1 Company Overview
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 HempFlax Group B.V.
11.7.1 Company Overview
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Liaoning Qiaopai Biotech Co. Ltd.
11.8.1 Company Overview
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 Manitoba Harvest Hemp Foods
11.9.1 Company Overview
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Naturally Splendid Enterprises Ltd.
11.10.1 Company Overview
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
11.11 Navitas LLC
11.11.1 Company Overview
11.11.3 Product/Services Offered
11.11.4 SWOT Analysis
11.11.5 The SNS View
11.12 North American Hemp & Grain Ltd.
11.12.1 Company Overview
11.12.3 Product/Services Offered
11.12.4 SWOT Analysis
11.12.5 The SNS View
11.13 Yunnan Hua Fang Industrial Hemp Co. Ltd.
11.13.1 Company Overview
11.13.3 Product/Services Offered
11.13.4 SWOT Analysis
11.13.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
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