Hemp is also identified as industrial hemp, native to the northern hemisphere. It is a variety of cannabis Sativa plant species that is particularly grown for the industrial uses of its products. Hemp is refined into paper, textiles, biodegradable plastics, biofuel, paint, clothing, food and animal feed. It contains a tiny amount of naturally occurring tetrahydrocannabinol (THC) with unique phytochemical compositions and uses. Hemp seed is most nutritious seed in the globe and a huge source of protein & minerals. It has a concentrated balance of essential fats, proteins, vitamins and enzymes combined with a relative absence of starches, sugar, and saturated fats. Its protein provides optimal health and well-being of life. Fresh hemp helps in lower cholesterol & blood pressure, weight loss, recovery from injury, sustain energy, immune system, reduced inflammation, improved circulation, and control sugar level in the body. Hemp seed is generally used for both industrial and pharmaceuticals purposes and is driving the hemp market worldwide.
As per analysis, “Hemp Seeds Market : Segmented By Application Type (Food, Beverages, Personal Care Products, Textiles, and Pharmaceuticals); by Product Type (Seeds, Fiber, Shives) and Region – Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030” some of the key companies operating in the global hemp seeds market include Konoplex Group, South Hemp Tecno, Ecofibre, Plains Industrial Hemp Processing, BAFA, MH Medical Hemp, GenCanna, Canah International, HempFlax BV, Hemp Oil Canada and among others. Leading players have adopted various acquisitions and blooming strategy to hike productivity and reinforce their foothold in the hemp seed market worldwide.
Based on application type, hemp seeds market is bifurcated as textiles, food & beverages, pharmaceuticals and personal care products. In addition, based on product type, market is bifurcated as fiber, seeds and shives.
The hemp seeds market is driven by increase in legalization in the cultivation of industrial hemp, followed by diverse vital properties as well as its use as analgesic in medicines, surge in demand for hemp seeds over the traditional herbal seeds and growth in demand of cosmetics, personal care products, protein supplements and various other health products. Apart from this, stringent regulation & policies and high production cost are hindering factor for market. Moreover, high demand for hemp fiber is a key trend for market.
Based on geography, the North-America region holds major share in global hemp seeds market owing to rise in awareness about health, growth in consumption & production of hemp seeds and presence of major players across the region. The Asia-Pacific and Europe regions are estimated to witness higher growth rate due to rise in disposable income and growth in demand for cosmetics & personal care products over the forecast period. It is expected that future of the global hemp seeds market will be bright as a result of increase in consumption of hemp seeds as food as well as their full application in other food products for instance smoothies, cereals, yogurt, and bar during the forecast period.
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Ankur Gupta, Head Marketing & Communications