Hemp Seed Market Report 2024

This Hemp Seed market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The hemp seed market size has grown rapidly in recent years. It will grow from $6.71 billion in 2023 to $7.48 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth observed during the historical period can be linked to the increasing demand for plant-based protein, heightened awareness of health advantages, growing use in cosmetics and personal care items, an expansion of industrial uses, and the rising popularity of organic and natural products.

The hemp seed market size is expected to see rapid growth in the next few years. It will grow to $11.67 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The anticipated growth during the forecast period can be attributed to the increasing consumer preference for sustainable food sources, greater adoption in nutraceuticals and dietary supplements, the expanding use of hemp seed oil in skincare and cosmetics, regulatory shifts that encourage cultivation and production, and a rising trend toward vegan and vegetarian diets. Key trends expected in the forecast period include the increased use of hemp seeds in functional foods and beverages, technological advancements in hemp seed extraction and processing, the creation of new hemp seed-based snacks and protein bars, and the development of hemp seeds as a sustainable ingredient in food packaging.

The growing interest in vegan and plant-based diets is expected to significantly boost the hemp seed market in the future. These diets prioritize foods that come solely from plants, completely excluding animal products and by-products. The increasing popularity of vegan and plant-based diets is fueled by rising health awareness, concerns about animal welfare, and environmental sustainability. Hemp seeds serve as a nutrient-rich source of protein, essential fatty acids, and vitamins in these diets. For example, a January 2023 report from the Plant Based Foods Association, a U.S.-based organization, noted that plant-based food sales grew by 6.6% in 2022, up from 5.9% in 2021, along with a 10% increase in average retail prices. Thus, the demand for vegan and plant-based diets is set to drive growth in the hemp seed market.

Key players in the hemp seed market are concentrating on creating ready-to-use products infused with seeds, such as energy drinks, to broaden their market reach with distinctive hemp formulations. These hemp-infused energy drinks offer a natural source of protein, omega-3 fatty acids, and essential nutrients, providing increased energy along with potential health benefits. For instance, in February 2022, PepsiCo Inc. launched a new hemp seed-infused energy drink, Rockstar ‘Unplugged,’ in the U.S., following its success in Germany. This beverage blends hemp seed oil with spearmint and lemon balm, and features reduced caffeine (80 mg per 12-ounce can) to promote relaxation without causing drowsiness. Unlike some hemp products, it does not contain CBD, aiming to provide a more calming energy boost compared to traditional Rockstar drinks, which usually have higher caffeine levels (160-300 mg).

In July 2024, Fresh Hemp Foods Ltd., a Canadian food production company, acquired The Humble Seed for an undisclosed sum. This acquisition is intended to enhance Fresh Hemp Foods' wellness product offerings, integrate The Humble Seed brand into its manufacturing and distribution framework, and improve consumer awareness of the benefits of hemp and other super seeds. The Humble Seed specializes in producing hemp seed-based crackers.

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.

North America was the largest region in the hemp seed market in 2023. The regions covered in the hemp seed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the hemp seed market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Hemp seeds are highly nutritious seeds sourced from the cannabis sativa plant, known for their rich content of essential fatty acids, protein, and vitamins. They are widely used in various food products, dietary supplements, and health-oriented formulations due to their positive effects on nutrition and wellness. As a complete source of protein, they promote heart health and are abundant in essential fatty acids, making them an important addition to many diets.

The primary varieties of hemp seed include whole hemp seed, hulled hemp seed, hemp seed oil, hemp protein powder, and more. Whole hemp seeds are the unprocessed seeds of the hemp plant, retaining the entire seed along with its shell. They are nutrient-dense, providing a rich source of protein, fiber, and essential fatty acids, which are recognized for their health benefits, including enhancing heart health and aiding digestion. These seeds come from both conventional and organic sources and are available in various packaging options, such as pouches, jars, and tins. Distribution channels include supermarkets, hypermarkets, convenience stores, specialty shops, online retailers, and others, with applications spanning food and beverages, nutritional supplements, cosmetics, pharmaceuticals, textiles, personal care products, and more.

The hemp seed market research report is one of a series of new reports that provides hemp seed market statistics, including hemp seed industry global market size, regional shares, competitors with an hemp seed market share, detailed hemp seed market segments, market trends and opportunities, and any further data you may need to thrive in the hemp seed industry. This hemp seed market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The hemp seed market consists of sales of hemp seed-based meals, hemp-based snacks, and hemp seed-based dietary supplements. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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