Global Hemp-based Food Market was valued US$ XX Bn in 2019 and is expected to grow US$ 7.08 Bn by 2027, at a CAGR of 6.9% during the forecast period.
Global Hemp-based Food Market
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Global Hemp-based Food Market: Overview
Hemp-based food products are very common globally because hemp is a good source of vitamins, minerals, and fiber-containing vitamin E, magnesium, iron, and zinc. Hemp oil-based foods, hemp protein-based foods, and hemp seed-based foods are different varieties of hemp base foods which is easily available in the market. Moreover, the hemp-based food products are most preferable among individuals because it is easy to digest and free from allergens, gluten, lactose, hereditarily modified organisms, pesticides, and phytoestrogen.
Global Hemp-based Food Market: Dynamics
The growing food sector and the demand for organic hemp-based food products among individuals globally are the key factors expected to drive the growth of the global hemp-based food market in the future. Also, health awareness among individuals, for instance rising cases of celiac disease in countries, like America has led to increasing gluten-free diets. The increasing vegan populations across the globe, whereas the vegan lifestyle strongly promotes animal rights and eco-friendly lifestyles choosing to ensue in the growing demand for hemp-based food in developed and developing countries. These are additional factors expected to fuel the growth of the hemp-based food market.
The consumption of hemp oil-based foods & hemp seed-based foods, protein-based foods is demanding across the globe, and growing awareness about several benefits of hemp-based food, for example, the good source of vitamins, fiber, mineral, and easy to digest. Additionally, increasing hemp-based food products quality, variety, improvement, and rising number of promotional activities through several media channels including radio, newspaper, social media, and others by major hemp-based food producers. These are other factors expected to thrive the growth of the hemp-based food market in the future.
Nevertheless, the high price related to hemp-based food products is the main factor expected to control the growth of the global hemp-based food market.
Global Hemp-based Food Market: Segmentation Analysis
By product type segment, an increasing consumption of hemp seed-based food product across the globe, because of numerous benefits related to it, for example, easy digestion, presence of high levels of necessary fatty acids, proteins, and other is the key factor motivating revenue growth of the hemp seed-based foods segments in the global hemp-based food market.
Global Hemp-based Food Market: Regional Analysis
Region-wise, the North America hemp-based food market held the largest revenue share of the global market in 2018. This is mainly because of high health concerns among individuals, the high inclination for organic food products, and high consumption of hemp-based food products containing pretzels, granola bars, cereals, and others in the countries, like the US and Canada in the North America region. The market in the Asia Pacific is expected to observe growth in the global market followed by the market in Europe, thanks to a rising preference towards the hemp-based foods because of gluten-free, and other properties associated with it and high adoption of western food habits in the countries, such as China, India, Germany, UK, Italy, and France in these regions. Also, the high popularity of a variation of hemp-based food products among individuals in countries, like Mexico, Israel, Brazil, and South Africa in the Middle East & Africa and Latin America regions.
The objective of the report is to present a comprehensive analysis of the Global Hemp-based Food Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Hemp-based Food Market dynamics, structure by analyzing the market segments and project the Global Hemp-based Food Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Hemp-based Food Market make the report investor’s guide.
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Scope of the Global Hemp-based Food Market
Global Hemp-based Food Market, By Product Type
• Hemp Seed Oil
• Hemp Protein Powder
• Whole Hemp Seed
• Hulled Hemp Seed
• Others
Global Hemp-based Food Market, By Sales Channel
• Supermarket Stores
• Convenience Stores
• Hypermarket Stores
• Others
Global Hemp-based Food Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Hemp-based Food Market
• Manitoba Harvest
• Hemp Oil Canada
• Braham Murray
• Jinzhou Qiaopai Biotech
• Canah International
• GIGO Food
• Just Hemp Foods
• North American Hemp Grain Co.
• Yunnan Industrial Hemp
• Nutiva
• Hempco
• Agropro
• GFR Ingredients Inc.
• Naturally Splendid
• Navitas Organics
• Yishutang
• Hemp Foods Australia
• Elixinol
• Canada Hemp Foods
• Mettrum Originals
• The Hemp Corporation Pty Ltd.
• Fresh Hemp Foods Ltd
• Laguna Blends Inc.
• Compass Diversified Holdings LLC
• Naturally Hemp, LLC
• Vitahemp Pty Ltd
• Canopy Growth Corporation
• HempAmericana, Inc.
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