The new report by Expert Market Research titled, ‘Global Hemp Seeds Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global hemp seeds market, assessing the market based on its segments like forms, applications, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Forecast CAGR (2022-2027): 11.20%
The rising consumer health consciousness among consumers and the growing awareness towards several nutritional benefits of hemp seeds is primarily driving the global market. Hemp seed and its derivatives have become increasingly popular and been put to several uses as they are high in nutritional value and pharmacological properties. The increasing prevalence of different types of cancer is also propelling the consumption of hemp-based products for relieving chemotherapy-induced chronic pain, nausea, fatigue, and other reactions in cancer patients. Along with this, the changing consumer inclination from high-calorie food items towards a protein-rich diet is further augmenting the market for hemp seeds. The increasing demand for processed and ready-to-eat food products, particularly among the millennial and urbanised population, is bolstering the consumption of hemp-based cereals, bars, smoothies, and youghurt, among other products.
Industry Definition and Major Segments
Hemp seeds are small, brown seeds from the Cannabis Sativa plant that are abundant in good fats, minerals, protein, and fibre. Whole seeds, shelled seeds, hemp oil, and protein powder are all readily available.
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By form, the market is segmented into:
• Whole
• Hulled
• Seed Oil
• Protein Powder
The major applications of the market are:
• Food and Beverage
• Personal Care Products
• Industrial Products
On the basis of region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Market Trends
The market is expected to be driven by increasing legitimacy being granted to industrial hemp cultivation by authorities and reported health and medicinal benefits of hemp seed and hemp seed oil. To sustain protein consumption levels, the popular vegan trend has led to a steady shift away from meat and dairy products and toward hemp-based foods. Apart from this, the expanding pharmaceutical industry and increasing adoption of bioactive ingredients in drugs are further catalysing the use of hemp seeds based on the high content of antioxidants, vitamins, and iron, among others. In the coming years, the increasing legalisation of industrial hemp for use in food supplements and personal grooming products will continue to drive the global market for hemp seeds.
Key Market Players
The major players in the market are Manitoba Harvest, Hemp Oil Canada Inc., Canah International, Hempflax BV, BAFA neu GmbH, Liaoning Qiaopai Biotech Co., Ltd., and North American Hemp & Grain Co., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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