In 2023, China led global hemp seed gross production with a valuation of 164.47 million USD, despite a minor year-on-year decline of 1.25%. Russia, showing a robust growth at 13.14%, followed at 6.47 million USD. Chile maintained steady production at 2.52 million USD with a slight increase of 0.31%. Ukraine and Iran, though smaller players, had valuations of 0.969 million USD and 0.344 million USD respectively, with Ukraine experiencing a -0.53% decline while Iran grew by 0.9%. The five-year Compound Annual Growth Rate (CAGR) analysis offers insight into the average yearly variations, providing a broader perspective on market trends.
Future trends to watch include:
• The potential impact of increased global demand for hemp-derived products. • Possible regulatory changes in major producing countries that could affect production volumes. • Technological advancements in agricultural practices enhancing yield efficiencies. • The role of international trade dynamics and tariffs shaping market accessibility and competitiveness.
Top countries in Hemp Seed Gross Production by Country
| # | 5 Countries | Thousand US Dollars PPP = 2004–2006 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 China | 164,470 | 2023 | +3.8% | -1.25% | View data |
| 2 | 2 Russia | 6,470 | 2023 | +8.34% | +13.14% | View data |
| 3 | 3 Chile | 2,520 | 2023 | +0.44% | +0.31% | View data |
| 4 | 4 Ukraine | 969 | 2023 | -0.62% | -0.53% | View data |
| 5 | 5 Iran | 344 | 2023 | +0.88% | +0.9% | View data |
