How Has the Hemp Seed Market Size Evolved in Recent Years?
The hemp seed market has seen considerable growth due to a variety of factors.
• In recent years, there's been a swift expansion in the size of the hemp seed market. The market, which is predicted to surge from $7.48 billion in 2024 to $8.38 billion in 2025, will encounter a compound annual growth rate (CAGR) of 11.9%.
Various contributing factors to this growth during the historical period include the burgeoning demand for plant-oriented proteins, heightened awareness surrounding health benefits, increased utilization in cosmetics and personal care items, widened industrial applications, and the escalating popularity of organic and natural products.
What are the Market Size and Expected Growth Rates for the Hemp Seed Market?
The hemp seed market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of hemp seed is projected to undergo a fast-paced expansion in the upcoming years, escalating to $13.02 billion in 2029 with a compound annual growth rate (CAGR) of 11.7%.
The predicted rise during the forecast period is linked to the growing consumer preference for sustainable food items, increased usage in nutraceuticals and dietary enhancements, the spread of hemp seed oil in skincare and cosmetic products, regulatory modifications favoring cultivation and manufacturing, and a rising trend of vegan and vegetarian diets. Significant trends during the forecast period encompass extension of hemp seed uses in functional foods and beverages, technological advancements in the extraction and processing of hemp seed, creation of new snacks and protein bars based on hemp seed, and the development of hemp seed as a green ingredient in food packaging.
Which Key Drivers Are Propelling The Hemp Seed Market's Growth?
The growth of the hemp seed market is anticipated to be fueled by the surging preference for vegan and plant-based diets. These diets emphasize the consumption of food purely from plant sources, excluding any animal products or by-products. This shift towards vegan and plant-based diets is motivated by increased awareness of health, considerations for animal welfare, and environmental sustainability. Hemp seeds play a significant role in these diets as they are a rich source of protein, essential fats, and vitamins. As an example, a report released by the Plant Based Foods Association, a food and beverage organization based in the US, stated that in 2022, plant-based food sales saw a 6.6% increase from the prior year's 5.9%, coupled with a 10% surge in average retail prices. Consequently, the growing preference for vegan and plant-based diets is set to boost the hemp seed market.
What Are The Key Segments Within The Global Hemp Seed Market?
The hemp seedmarket covered in this report is segmented –
1) By Type: Whole Hemp Seed, Hulled Hemp Seed, Hemp Seed Oil, Hemp Protein Powder, Other Types
2) By Source: Conventional, Organic
3) By Packaging: Pouches, Jars, Tins, Other Packaging Types
4) By Distribution Channel: Supermarkets And Hypermarkets, Convenience Stores, Specialty Stores, Online Stores, Other Distribution Channels
5) By Application: Food And Beverages, Nutritional Supplements, Cosmetics, Pharmaceuticals, Textiles, Personal Care Products, Other Applications
Subsegments:
1) By Whole Hemp Seed: Organic Whole Hemp Seeds, Conventional Whole Hemp Seeds
2) By Hulled Hemp Seed: Organic Hulled Hemp Seeds, Conventional Hulled Hemp Seeds
3) By Hemp Seed Oil: Cold-Pressed Hemp Seed Oil, Refined Hemp Seed Oil, Unrefined Hemp Seed Oil
4) By Hemp Protein Powder: Organic Hemp Protein Powder, Conventional Hemp Protein Powder, Flavored Hemp Protein Powder
5) By Other Types: Hemp Seed Snacks, Hemp Seed Butter, Hemp Seed Flour
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Which Emerging Market Trends Are Altering The Hemp Seed Industry?
Prominent entities in the hemp seed market are emphasizing prepared-to-consume seed-based variations, like energy drinks, to broaden their market influence with an exclusive mix of hemp concoctions. Hemp seed-enhanced energy drinks offer a natural protein source, omega-3 fatty acids, and vital nutrients, proffering improved energy and potential health advantages. Take, for example, in February 2022, PepsiCo Inc., a company based in the US specializing in food and beverages, introduced a new hemp seed-enhanced energy drink, Rockstar 'Unplugged', in the US after a successful run in Germany. Here, hemp seed oil merges with spearmint, lemon balm, and reduced caffeine content (80 mg per 12-ounce can), promoting relaxation without leading to sleep. It contains no CBD, unlike certain hemp products. This innovation aims to present a more soothing energy surge compared to conventional Rockstar drinks, which often contain higher caffeine quantities (160-300 mg).
Who Are the Key Players In The Hemp Seed Market?
Major companies operating in the hemp seed market are:
• Nutiva Inc.
• Konoplex Group
• Liaoning Qiaopai Biotech Co Ltd.
• Manitoba Harvest Fresh Hemp Foods Ltd.
• Ecofibre Limited
• Navitas Organics
• PharmaHemp
• Z-Company BV
• Canah International
• GFR Ingredients Inc.
• North American Hemp & Grain Co
• Dun Agro BV
• Naturally Splendid Enterprises Ltd.
• Global Hemp Group Inc.
• Entoura Inc.
• HempLand USA
• CBD Living
• The Hemp Mine
• Cannabis Sativa Inc.
• Valley Bio Ltd.
• Green Source Organics
What Are The Regional Insights Into The Hemp Seed Market?
North America was the largest region in the hemp seed market in 2024. The regions covered in the hemp seed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
