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The hemp-based foods market size is forecast to increase by USD 6.91 billion, at a CAGR of 16.41% between 2023 and 2028.
Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The hemp market continues to evolve, with new applications and innovations emerging across various sectors. Organic hemp, sourced from sustainable farming practices, is at the heart of this dynamic industry. From hemp seed cake used as animal feed to hemp soaps and lotions in the personal care sector, the versatility of hemp is on full display. Industrial hemp, with its long fibers, is finding its place in textiles, paper, and construction materials. Harvesting techniques and processing technologies are continually refined to optimize yield and product quality. Hemp protein powder, derived from the seeds, offers a valuable source of dietary fiber and essential amino acids.
Hemp-infused cosmetics and skincare products are gaining popularity due to their potential benefits. Sustainability remains a key focus, with a growing emphasis on bio-based polymers, packaging solutions, and hemp-based insulation. Hemp's high protein content and nutritional value make it a sought-after ingredient in food and beverage applications, from hemp granola and yogurt to hemp milk and hemp-reinforced concrete. Quality control is paramount, with food safety regulations ensuring the integrity of hemp-based products. Extraction methods for cannabidiol (CBD) oil and other compounds continue to evolve, driving innovation in the sector. The distribution channels for hemp products are expanding, with retail sales growing steadily.
Hemp's potential applications are vast, from hemp fiber in composites and apparel to hemp paper and hemp rope. The continuous unfolding of market activities and evolving patterns underscores the dynamic nature of this industry.
The hemp-based foods industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The supermarkets and hypermarkets segment is estimated to witness significant growth during the forecast period.
Hemp-based foods have gained significant traction in the organic and natural goods market, with specialty stores and natural food chains being the primary distribution channels. These retailers often dedicate specific areas for hemp products, including hemp seeds, oil, and protein powders. Upscale grocery stores may integrate hemp items into various categories, such as snacks, baked goods, or gluten-free options. Local farmers and artisanal producers also sell their hemp-based creations at farmers markets, providing an opportunity for direct consumer interaction. Hemp cultivation, a crucial aspect of the industry, adheres to stringent food safety regulations. Processing techniques for hemp seeds, oil, and protein involve cold-pressing, extraction, and various processing technologies to preserve nutritional value.
Hemp's versatility extends to various applications, such as insulation, bio-based polymers, textiles, and composites. Hemp seeds, a rich source of protein, dietary fiber, omega-6 and omega-3 fatty acids, are used in various food applications, including hemp milk, yogurt, and butter. Hemp oil, known for its health benefits, is used in culinary applications, cosmetics, and skincare. Hemp-infused cosmetics, lotions, and balms offer additional revenue streams. Sustainable hemp farming practices, including organic cultivation, are essential for the industry's growth. Hemp's versatility extends to industrial applications, such as building materials, insulation, and bioplastics. Cannabidiol (CBD) oil, derived from hemp, is a popular health supplement and ingredient in food and beverages.
Quality control is a top priority in the production of hemp-based foods, ensuring adherence to food safety regulations and maintaining the nutritional value of the final products. Packaging solutions for hemp-based foods focus on sustainability and preserving the integrity of the products. In conclusion, the market is a dynamic and evolving industry, with various applications and distribution channels. From food and beverages to industrial and consumer products, hemp's versatility and nutritional value make it a valuable commodity in the organic and natural goods market.
The Supermarkets and Hypermarkets segment was valued at USD 2.7 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 35% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in North America is experiencing significant growth and is anticipated to continue expanding during the forecast period. Factors such as increasing consumer awareness towards superfoods and the rising preference for gluten-free food products are driving the market's growth. Hemp protein, hemp shiv, and hemp seeds are popular ingredients in various food applications, including hemp snacks, granola, and yogurt. The US and Canada are major contributors to the market, with the US holding the largest market share in The market in 2023. Hemp oil, used in cold-pressed form, is another key component of the market, used in various food and beverage applications.
Sustainable hemp farming practices and food safety regulations ensure the quality and safety of these products. Hemp fibers are also used in the production of bio-based polymers, textiles, and packaging solutions. Extraction methods play a crucial role in maintaining the protein content and nutritional value of hemp-based foods. The market's growth is further fueled by the versatility of hemp, which is used in various applications, including insulation, building materials, and composites. Hemp's rich nutritional value, including omega-6 and omega-3 fatty acids, dietary fiber, and essential amino acids, adds to its popularity as a health food. The market's future potential lies in the development of new processing technologies and the expansion of distribution channels, enabling the production and availability of a wider range of hemp-based food products.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The hemp-based foods market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the hemp-based foods market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, hemp-based foods market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Ananta Hemp Works - This company specializes in producing hemp-derived food items, including Hemp Hearts, Seed Oil, and Powder, providing consumers with nutrient-rich alternatives to traditional food sources. Hemp Hearts offer a balanced omega-3 to omega-6 ratio, while Seed Oil is a cold-pressed, unrefined source of essential fatty acids. Hemp Powder adds protein and fiber to various dishes, making these products valuable additions to a health-conscious diet.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Hemp-Based Foods Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
168 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 16.41% |
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Market growth 2024-2028 |
USD 6910.9 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
13.73 |
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Key countries |
US, Malaysia, Indonesia, Germany, UK, South Korea, France, Canada, Brazil, Thailand, UAE, and Mexico |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Market Segmentation by Aplication
9 Market Segmentation by End-User
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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