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Hemp Seeds Market

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Hemp Seeds Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The global hemp seeds market grew at a CAGR of around 7% during 2015-2020. Looking forward, IMARC Group expects the market to exhibit continuous growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

Hemp seeds refer to small, brown seeds of the Cannabis Sativa plant that contain a high amount of healthy fats, minerals, protein, and fibers. They are widely available in the form of whole seed, shelled seed, hemp oil, and protein powder. Hemp seeds offer numerous health benefits in enhancing metabolism, boosting immunity, and treating insomnia, inflammation, chronic pain, etc. As a result, they are extensively used in food & beverages, nutritional supplements, pharmaceuticals, cosmetics, etc.

The rising consumer health consciousness along with the growing awareness towards several nutritional benefits of hemp seeds is primarily driving the global market. Furthermore, the increasing prevalence of different types of cancer is also propelling the consumption of hemp-based products for relieving chemotherapy-induced nausea, chronic pain, fatigue, etc., in cancer patients. Additionally, the changing consumer inclination from high-calorie food items towards a protein-rich diet is further augmenting the market for hemp seeds. In line with this, increasing demand for processed and ready-to-eat food products, particularly among the millennial and urbanized population, is bolstering the consumption of hemp-based cereals, bars, smoothies, yogurt, etc. Furthermore, the prevalent trend of veganism has led to a gradual shift from meat and dairy products towards hemp-based food items to maintain protein consumption levels. Apart from this, the expanding pharmaceutical industry and increasing adoption of bioactive ingredients in drugs are further catalyzing the use of hemp seeds based on the high content of antioxidants, vitamins, iron, etc. In the coming years, the increasing legalization of industrial hemp for use in food supplements and personal grooming products will continue to drive the global market for hemp seeds.

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Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global hemp seeds market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on source, form, packaging, application and distribution channel.

Cannabis Seeds Market worth US$ 4,642.6 million by 2028 – Exclusive Research by The Insight Partners

NEW YORK, UNITED STATES, November 12, 2021 / — According to The Insight Partners study on “Cannabis Seeds Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Regular Seeds, Feminized Seeds, and Autoflowering Seeds), Category (Organic and Conventional), Strain (Hybrid, Sativa, and Indica), and Distribution Channel (Specialty Stores, Online Retail, and Others),” The market is projected to reach US$ 4,642.6 million by 2028; it is expected to grow at a CAGR of 18.7% from 2021 to 2028

Report Coverage Details

Market Size Value in- US$ 1,217.4 million in 2020
Market Size Value by- US$ 4,642.6 million by 2028
Growth rate- CAGR of 18.7% from 2021 to 2028
Forecast Period- 2021-2028
Base Year- 2020
No. of Pages- 145
No. Tables- 74
No. of Charts & Figures- 72
Historical data available- Yes
Segments covered- Type, Category, Strain and Distribution Channel
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Cannabis is a genus of flowering plants in the Cannabaceaem family. Cannabis seeds are rich in protein; fiber; and healthful fatty acids, such as omega-3s and omega-6s. The seeds are high in arginine (amino acid) and gamma-linolenic acid (fatty acid) content. These substances help reduce the risk of heart diseases, cure chronic pain, and improve neurological and other conditions. Other nutrients found in these seeds are calcium, potassium, vitamin E, sulphur, phosphorous, magnesium, and zinc. These are rich in vitamin E and can be eaten by those who are unable to tolerate nuts, gluten, lactose, or sugar. The rising demand for cannabis from the medical industry and for recreational use drive the growth of the cannabis seeds market.

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The medical application of cannabis is witnessing tremendous growth as consumers are becoming more aware of the medicinal benefits of cannabis. Cannabis helps cure chronic pain and improves neurological and other conditions. It also helps with chemotherapy-induced nausea and vomiting. Nausea and vomiting associated with chemotherapy are a significant burden for affected patients. Cannabinoids have been shown to be useful as antiemetics for cancer patients undergoing chemotherapy. While the exact mechanisms of action are not well understood, researchers believe that the ability of cannabinoids to act on non-serotonergic receptors such as the CB1 receptor is responsible for their ability to delay nausea and vomiting in patients. In addition, cannabis has been used as a possible treatment for several neurological disorders, including epilepsy, amyotrophic lateral sclerosis (ALS), Huntington's disease, Parkinson's disease, dementia, and traumatic brain injury.

Impact of COVID-19 Pandemic on Cannabis Seeds Market

The ongoing COVID-19 pandemic has had a relatively moderate impact on the cannabis seeds market. For instance, according to the 2021 World Drug Report, during the pandemic in 2020, more than half (56%) of people who had used cannabis in the past 12 months said that they had used the same amount of cannabis before the pandemic. Almost a third (31%) of cannabis users aged 24 and under reported using more cannabis than those aged 25 and above (19%).

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Cannabis Seeds Market: Product Type

Based on type, the cannabis seeds market is segmented into regular seeds, feminized seeds, and autoflowering seeds. Based on category, the market is bifurcated into organic and conventional. Based on strain, the cannabis seeds market is segmented into hybrid, sativa, and indica. Based on distribution channel, the market is segmented into wholesalers and distributors, specialty stores, and online retail. Based on geography, the cannabis seeds market is segmented into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America (SAM).

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Cannabis Seeds Market: Competitive Landscape and Key Developments

Christiania Seeds, Barney’s Souvenirs Bv, Mountain Top Seed Bank, Paradise Seeds Family, Seed Supreme, Sensi Seeds, Serious Seeds, Sweet Seeds, The Seed Cellar, and Dutch Passion are among the key players in the global Cannabis Seeds market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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