Hemp Seed Market

The global hemp seed market increased demand for hemp seeds due to their flexibility and as a core product for overall health improvement.

PUNE, MAHARASHTRA, INDIA, August 18, 2022 /EINPresswire.com/ -- Data Bridge Market research has recently published the comprehensive business research on “Global Hemp Seed Market” includes historic data, present market trends, future product environment, marketing strategies, technological innovation, upcoming technologies, emerging trends or opportunities, and the technical progress in the related industry. This Hemp Seed market report comprises of the most recent market information with which companies can have in depth analysis of Hemp Seed industry and future trends. By applying market intelligence for this report, industry experts assess strategic options, outline successful action plans and support companies with critical bottom-line decisions. Competitive analysis studies of this market report helps to get ideas about the strategies of key players in the market. Not to mention, the scope of this market report can be broadened from market scenarios to comparative pricing between major players, cost and profit of the specified market regions.

Data Bridge Market Research analyses that the hemp seed market was valued at USD 5.1 billion in 2021 and is expected to reach the value of USD 9.94 billion by 2029, at a CAGR of 8.70% during the forecast period of 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behavior.

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Market Summary:-

Hemp seed is regarded as the most nutritious seed in the world due to their numerous beneficial properties, as well as its use as an analgesic in pharmaceuticals. The global hemp seed market is expected to expand as a result of increased demand for hemp seeds over traditional herbal seeds due to their flexibility and as a core product for overall health improvement.

Hemp seeds refer to small, brown seeds of the Cannabis Sativa plant. They contain less than 1% of psychoactive drugs, whereas marijuana contains more than 20%. Hemp seeds are an excellent source of easily digestible proteins, fibres, amino acids, antioxidants, essential fats, iron, and vitamins.

Hemp Seed Market Dynamics

Drivers

Growing adoption of healthy consumables as well as agricultural benefits associated with hemp seed

The growing demand for processed and ready-to-eat food products, particularly among millennials and the urbanised population, is driving up consumption of hemp-based cereals, bars, smoothies, yoghurt, and so on. Furthermore, the prevalent vegan trend has resulted in a gradual shift away from meat and dairy products and toward hemp-based food items in order to maintain protein consumption levels.

Growing demand for hemp based supplements and personal care products

Hemp is a versatile plant whose seeds are used to make nutritious food. It is related to Cannabis and is a member of the same family. As they contain both GLA (gamma-linoleic acid) and CLA (conjugated linoleic acid), they outperform chia and flax seeds. It also has a healthy fatty acid ratio, 10 essential amino acids, and is high in dietary fibres. The main vitamins found in hemp seeds are phosphorus, potassium, sodium, magnesium, sulphur, calcium, iron, and zinc. Furthermore, hemp is considered allergy-free when compared to other plant protein sources.

Opportunity

Hemp seed are used to make hemp biodiesel, which is suitable for use in any diesel-powered vehicle. Additionally, hemp can be used to produce ethanol, which is currently produced from food crops such as wheat and corn. This would result in increased food production efficiency. Another product that allows for the growth of industrial hemp is bioplastic. Hemp bioplastics are made from hemp seeds and CBD oil by-products. The growing consumer demand for sustainable goods, combined with corporate and government initiatives and support, is expected to fuel the growth of hemp-based biofuel and bioplastics

Recent Industry Development

GenCanna and Atalo Holdings formed a strategic partnership in May 2019 to build a vertically integrated hemp processing and distribution facility in Kentucky.
In May 2019, GenCanna and Thar PArocess announced a collaboration to bring the new CO2 hemp extraction technology to market.
Hemp Inc. formed a joint venture with Hemp Healthcare in January 2019 to sell high-end CBD and hemp-based products, expanding the company's presence in Arizona.

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The countries covered in the hemp seed market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America leads the hemp seed market due to increased consumption. Asia-Pacific is expected to grow at a significant rate from 2022 to 2029 due to high demand for hemp seeds in India and China.

Some of the major players operating in the hemp seed market are:

Nhempco (Canada)
Ecofibre (Australia)
Hemp Inc. (US)
GenCanna (US)
HempFlax Group B.V., (Netherlands)
Konoplex (Russia)
Hemp Oil Canada (Canada)
Hemp Poland (Poland)
Dun Agro (Netherlands)
Colorado Hemp Works (US)
Canah International (Romania)
South Hemp Tecno (Italy)
Plains Industrial Hemp Processing (Canada)
MH Medical Hemp (Germany)

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The hemp seed market is segmented on the basis of product type, form, packaging, application and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

Medicinal
Auto Flowering
Feminized
Regular
Others

Form

Whole Hemp Seed
Shelled Hemp Seed
Hemp Seed Oil
Hemp Seed Protein

Packaging type

Pouches
Jars
Tins
Others

Distribution channel

Direct
Indirect
Online
Modern trade format
Convenience stores
Departmental stores
Retails
Others

Application

Food
Tea and Hemp Juice
Hemp Sacks
Hemp Fibre
Others

The investment made in the study would provide you access to information such as:

Photoresist Market [Global – Broken-down into regions]
Regional level split [North America, Europe, Asia Pacific, South America, Middle East & Africa]
Country wise Market Size Split [of important countries with major market share]
Market Share and Revenue/Sales by leading players
Market Trends – Emerging Technologies/products/start-ups, PESTEL Analysis, SWOT Analysis, Porter’s Five Forces, etc.
Market Size)
Market Size by application/industry verticals
Market Projections/Forecast

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