The global hemp-based food market size was worth around USD 5.48 billion in 2023 and is predicted to grow to around USD 9.98 billion by 2032 with a compound annual growth rate (CAGR) of roughly 6.9% between 2024 and 2032.
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Market Overview of Hemp-Based Food Products
Easy to digest apart from being devoid of gluten, allergies, genetically modified organisms (GMO), lactose, phytoestrogen, and pesticides, hemp-based food products have become somewhat well-known recently. Their popularity among consumers is mostly related with these features.
A good source of fibre and several minerals and vitamins including magnesium, vitamin E, zinc, and iron is hemp. Eating food products derived from hemp helps to preserve a healthy digestive system, which fuels the worldwide expansion of hemp-based food products. Nut butter, corn chips and snack bars feature hemp-based culinary items. Also driving the hemp-based food industry is this. Since hemp seeds are so rich in protein and thus employed progressively in packaged goods like bread, pretzels, granola bars, and cereals, demand for hemp-based food products in the food sector has also grown.
The development of hemp-based food markets may be hampered, though, by the great expense of raw materials. On the other hand, the rising demand in the food and beverage sector is expected to support the growth of hemp-based food by means of greater contribution. This should create chances for expansion for the food business based on hemp.
The analysis covers drivers and restraints of the hemp-based food industry together with their influence on the demand over the projected timeframe. The paper also looks at worldwide prospects for the hemp-based meal.
We have included a competitive landscape and a study of Porter’s Five Forces model for the industry so that the consumers of this report have a complete perspective of the hemp-based food market. The report includes a market attractiveness analysis in which every category is benchmarked according on their market size, growth rate, and overall appeal.
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The Global Hemp-Based Food Market is segmented based on product, application and region
Global Hemp-Based Food Market: Product Segment Analysis
● Hemp Seed Oil
● Hemp Protein Powder
● Whole Hemp Seed
● Hulled Hemp Seed
● Others
Global Hemp-Based Food Market: Application Segment Analysis
● Supermarket Stores
● Convenience Stores
● Hypermarket Stores
● Others
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The Global Hemp-Based Food market profiles key players such as:
● Agropro
● Nutiva
● Hempco
● Manitoba Harvest
● Canada Hemp Foods
● Elixinol
● Braham & Murray
● Healthy Brands Collective
● Laguna Blends
● The Cool Hemp Company
● Hemp Foods Australia
● Mettrum Originals
● Jinzhou Qiaopai Biotech
Regional Analysis of Hemp-Based Foods Market
The regional section covers the historical and projected demand for North America, Europe, Asia Pacific, Latin America, the Middle East and Africa. Along with the demand for big nations including the UK, Germany, France, the United States, India, Brazil, South Africa, and China, this segmentation also reflects In 2018, hemp-based food items dominated the Asia Pacific market. The two rising nations of China and India, who are main consumers of hemp-based food products, represent the main revenue sources in the area.
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