Hemp Seeds Market Outlook:
Hemp Seeds Market size is projected to reach USD billion by 2029, and it is growing at a significant growth rate during the forecast period 2022-2029.
Hemp seeds are rich in minerals, protein, and fiber and hence, they are measured as one of the utmost nutritious organic foods. They deliver excellent ingredients for the human body as they hold high levels of vitamins A, C, and E. Furthermore, when related to other plant protein bases, hemp is measured allergy-free.
Rising consumer consciousness concerning health assistance is a key aspect driving the growth of the hemp seed market. Additionally, dissimilar forms of these seeds such as hulled hemp seed, seed oil, and protein powder are progressively favored in dissimilar businesses such as food & beverage, nutritional supplements, personal care products, industrial products, and animal feed. The growing application from these businesses is pushing the growth of the hemp seeds market.
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The incidence of COVID-19 has affected several businesses over the globe owing to its several financial impacts. With no exclusion, the new coronavirus has also stood a negative effect on the hemp seed industry. The substantial reliance on hardware will have significant effects on the market as this hardware is manufactured completely in China.
From the medicinal viewpoint, both the seed and oil help to lesser fat as well as fight blood clots molded as a consequence of high cholesterol. Additionally, clinical trials have exposed those fatty acids in the hemp oil to help to treat dry skin and are helpful for the handling of situations such as eczema and psoriasis. Owing to these helpful effects, hemp oil is considered a good ingredient for usage in skin care products.
Whole Hemp Seed
Hulled Hemp Seed
Hemp Seed Oil
Hemp Protein Powder
Food & Beverage
Personal Care Products
By Distribution Channel:
Middle East and Africa
The Europe Hemp Seeds Market will record the fastest CAGR of 12.01% during 2020-2027. This is credited to the rising consumption of these seeds as food and their use along with other food products such as yogurt, smoothies, and cereals bars, particularly in nations such as Germany, Netherlands, Italy, and the United Kingdom.
Presently, Asia Pacific grasps the major hemp seed market share register for 33.6% in the global market and this is credited to its high consumption in nations such as China, India, Japan, and Australia. Moreover, the growing market for personal care products in the region and the legalization of industrial hemp in food supplements is also driving the regional market growth.
The growth of the North American market is driven by the rising consumption and production of hemp seeds in the United States and Canada, correspondingly. Similarly, the 2018 USA implement Bill has additionally cleared the path for hemp-based products by authorizing the use of the seed protein powder, hulled seed, and seed oil in the United States food supply.
Some of the Major Companies Covered in the global market:
The global hemp seeds market is fragmented with the presence of several players across various regions. The most active companies across the globe are Tilray Inc, Hemp Oil Canada, Canah International and Hempflax BV among others. Market players are constantly innovating by developing new products to optimum share in the market.
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