Hemp seeds are extremely nutritious, containing 20-25% protein, 25-30% oil and 10-15% insoluble fiber, as well as oil containing >90% polyunsaturated fatty acids, which are a valuable addition to the diet of humans and animals. They are gluten-free and are an excellent source of nutrients for products created for the growing flexitarian market. Hemp seeds are also used to make oil, which is consumed in food and beverage, personal care, and animal feed. The oil is also used in food supplements and medicinal and therapeutic products such as pharmaceuticals.

The hemp seed segment dominated the global hemp industrial market on the basis of type with the largest market share at 29.97% in 2023 while the hemp fabric segment dominated the market on the basis of application with 23.56%.

The global seed market is expected to grow at a CAGR of 4.95% due to increased demand from applied industries between 2020-2027, from $388.46 million in the year 2020 to $544.93 million by 2027. The international food market for hempseed is estimated at $1 billion. It costs around $2,000 a hectare for farmers to grow it, and they are paid around $3 a kilogram.

Preliminary data shows about 45,000 acres were licensed in the U.S. in 2023, with more than 21,000 acres planted, according to HempBenchmarks.com. Hemp floral varieties accounted for about 38% of total harvested acreage, fiber 37%, and grain and seed 25%.

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Hemp Fiber and Grain Cultivation Business Plan Sample (Missouri)

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