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The hemp-based foods market size is projected to increase by USD 6.91 billion, at a CAGR of 16.41% between 2023 and 2028. The market's growth is influenced by various factors, including the expanding vegan population and the prevalence of celiac disease cases. Additionally, the introduction of new products in the hemp-based foods market and the increasing government approval of hemp cultivation and consumption play significant roles. The growing number of vegans and individuals with celiac disease drives demand for plant-based and gluten-free options, stimulating market expansion. Furthermore, the launch of innovative hemp-based food products caters to evolving consumer preferences for sustainable and nutritious alternatives, fueling market growth. Moreover, government support for hemp cultivation and consumption creates new opportunities, shaping regulatory landscapes and market dynamics within the burgeoning hemp sector.
The market shows an accelerated CAGR during the forecast period.
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The growing vegan population and cases of celiac disease is the key factor driving the market. Vegan food products have gained significant traction in recent years, with hemp-based food items becoming increasingly popular. The hemp plant, a rich source of protein, fiber, vitamins, minerals, and essential fatty acids, is the foundation of this market. Hemp seeds and oil are commonly used as substitutes for animal-derived products, such as cheese replacements and protein powder, in vegan diets. These plant-based alternatives cater to individuals with allergies to dairy, lactose intolerance, and those seeking phytoestrogen benefits. The hemp-based food market is expected to expand as mental health issues, including anxiety and depression, become more openly discussed. Supermarket stores, convenience stores, and hypermarket stores have started stocking a wide range of hemp-based food products, including granola bars, corn chips, pretzels, bread, cereals, and gluten-free snack bars.
Furthermore, air seeders have made hemp cultivation more efficient, ensuring a steady supply of organic hemp-based foods. The rising vegan population, driven by health consciousness and a growing awareness of chronic medical diseases, is a significant factor fueling the market's growth. Cannabidiol (CBD), a non-psychoactive compound found in hemp, is also gaining popularity for its potential health benefits. The gluten-free nature of hemp-based food products caters to individuals with celiac disease, further expanding the market's reach. Marketing tactics, such as promoting the health benefits and convenience of hemp-based food items, are also contributing to the market's growth.
Increasing demand for organic hemp-based foods is the primary trend shaping the market. Hemp-based food items have gained significant traction in the market due to the increasing preference for vegan food products and the promotion of healthier eating habits. The hemp plant, specifically its seeds and oil, is a rich source of plant-based protein, fiber, essential fatty acids, vitamins, and minerals. These nutrients make hemp-based food products an excellent alternative for individuals dealing with chronic medical diseases, allergies to dairy or gluten, or those following a vegan or vegetarian diet. Hemp seeds and protein powders are popular choices for vegans and vegetarians seeking alternative sources of protein. Hemp oil is used as a replacement for dairy products, such as cheese, in various food applications. Hemp-based food items, including granola bars, corn chips, pretzels, bread, cereals, and snack bars, cater to the gluten-free population and those with celiac disease.
Additionally, the rising vegan population and growing health consciousness have led to an increase in demand for organic hemp-based foods. Hemp seeds and oil are rich in omega-3 and omega-6 essential fatty acids, which are beneficial for heart health and mental health issues like anxiety and depression. The phytoestrogens present in hemp seeds may also contribute to overall health and wellness. Marketing tactics for hemp-based food products focus on their nutritional benefits, convenience, and availability at supermarket stores, convenience stores, and hypermarket stores. Hemp-based food products, such as nut butter and protein powder, offer a versatile range of applications and can be easily incorporated into various dishes. Air seeders are used to cultivate hemp crops, ensuring a sustainable and eco-friendly production process. In conclusion, the market for hemp-based food items is on the rise due to their nutritional benefits, appeal to various dietary needs, and convenience. Organic hemp-based foods, including hemp seeds, oil, and protein powders, are gaining popularity as consumers become more health-conscious and seek alternatives to traditional food products.
Impact of natural disasters and adverse weather conditions is the major challenge that affects the market expansion. Hemp-based food products have gained significant attention in the vegan market due to their nutritional benefits in addressing chronic medical diseases. The hemp plant is the primary source of hemp seeds, oil, and fiber, which are rich in essential vitamins, minerals, and proteins. These food items are free from allergens such as lactose and gluten, making them suitable for individuals with celiac disease or other dietary restrictions. Hemp seeds and oil are used in various food applications, including cheese replacements, protein powder, and nut butter. Hemp-based snack bars, granola bars, corn chips, pretzels, bread, cereals, and other baked goods provide fiber and essential fatty acids, contributing to a healthy diet. The rising vegan population and increasing health consciousness have led to a surge in demand for organic hemp-based foods.
However, the production of hemp is susceptible to natural disasters and adverse weather conditions, affecting the overall quality and supply of hemp-based food items. Insecticides and other chemicals used in hemp cultivation may also pose health concerns for consumers. Marketing tactics for hemp-based food products focus on their gluten-free property, organic nature, and health benefits. These food items are available in various retail outlets, including supermarket stores, convenience stores, and hypermarket stores. The market for hemp-based food products is expected to grow as more consumers seek alternatives to traditional food items for mental health issues such as anxiety and depression. Cannabidiol (CBD), a compound found in hemp, is also gaining popularity for its potential health benefits. Despite the challenges posed by natural disasters and environmental factors, the market for hemp-based food products is expected to continue growing due to their nutritional benefits and increasing consumer demand. Air seeders and other modern farming technologies are being used to mitigate the risks of crop failure and ensure a consistent supply of high-quality hemp for food production.
Hemp seed-based foods, rich in magnesium, vitamin E, zinc, iron, and hemp protein, are the foundation of hemp-based foods. These seeds offer a myriad of nutritional benefits, including essential amino acids, fiber, antioxidants, and phytosterols. Hemp protein-based foods and hemp oil-based meals have gained popularity among the vegan population and health-conscious consumers. With increasing health awareness and a growing concern for sedentary lifestyles and chronic medical conditions, insulin levels, stress, heart function, and joint health have become significant concerns. Hemp seed-based sauces, shakes, burgers, desserts, ice creams, and even hemp-flavored dishes in restaurants, cafes, and eateries cater to these needs. Misconceptions and stigma surrounding hemp, a non-psychoactive cousin of marijuana, have begun to dissipate. Hemp fiber is also gaining traction in the textile industry, further expanding its market reach. Online retail and offline retail channels have made hemp-based products accessible to households and consumers worldwide. Plant-Based Protein and Health and Wellness sectors have embraced hemp, recognizing its nutritional value. Despite its numerous benefits, it is essential to note that genetically modified organisms and pesticides are not typically used in hemp cultivation, ensuring a natural and wholesome product.
The market share growth by the offline segment will be significant during the forecast period. Hemp-based food products have gained significant attention in the market due to their vegan nature and potential health benefits for individuals dealing with chronic medical diseases. The hemp plant serves as a rich source of hemp seeds, hemp oil, and hemp protein powders, which are integral components of these foods. Hemp seeds are high in fiber, vitamins, minerals, and essential fatty acids, making them an excellent alternative for individuals with allergies to dairy, lactose intolerance, or those following a gluten-free diet due to Celiac disease. Hemp oil is a valuable ingredient in various food items, including cheese replacements, nut butters, and snack bars. Hemp protein powder is a popular choice among fitness enthusiasts and those seeking to maintain a health-conscious lifestyle. Phytoestrogens, a natural compound found in hemp, have been linked to mental health issues such as anxiety and depression.
The offline segment was valued at USD 2.70 billion in 2018.
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Supermarkets, convenience stores, and hypermarket stores have recognized the growing demand for organic hemp-based foods and have started incorporating them into their offerings. Marketing tactics for hemp-based food products emphasize their health benefits, gluten-free property, and vegan nature. The rising vegan population and increasing health consciousness have contributed to the market's growth. Hemp-based food items, such as granola bars, corn chips, pretzels, bread, cereals, and snack bars, are increasingly popular due to their nutritional value and versatility. Air seeders and other modern farming techniques have made hemp cultivation more efficient, ensuring a steady supply of high-quality hemp-based food products. Cannabidiol (CBD), a non-psychoactive compound found in hemp, is also gaining popularity for its potential health benefits.
North America is estimated to contribute 35% to the growth of the global market during the forecast period
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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. Hemp oil-based meals and seed-based sauces provide additional health advantages, contributing to improved insulin levels, stress reduction, and enhanced heart function. The hemp industry's growth can be attributed to increasing health awareness, sedentary lifestyles, and the prevalence of chronic medical conditions. Additionally, hemp seeds, free from genetically modified pesticides and organisms, offer a natural and wholesome alternative to processed foods. The nutritional benefits of hemp extend beyond protein, making it an essential component in various plant-based protein sources.
Moreover, hemp flavors have permeated the food industry, with restaurants, cafes, and eateries incorporating hemp into their menus. Online and offline retail presence has expanded, making hemp foods accessible to households and consumers. Despite misconceptions and stigma surrounding hemp, its health benefits continue to be recognized, making it a valuable addition to a balanced diet. Hemp fiber, another byproduct of the plant, offers additional benefits in textile and industrial applications.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market forecasting growth and analysis.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 10 market companies, including:
Ananta Hemp Works, C, Cann Global Ltd., Canopy Growth Corp., GFR Ingredients Ltd., HempFlax Group BV, Hemp Juice Company BV, Hempro Int. GmbH, Hudson River Foods, Isodiol International Inc., Liaoning Qiaopai Biotech Co. Ltd., Naturally Hemps LLC, Navitas LLC, North American Hemp and Grain Co., Nutiva Inc., The Hemp Corp. Pty Ltd., Victory Hemp Foods, and Yunnan Hua Fang Industrial Hemp Co. Ltd.
The market analysis and report of 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 market 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.
The market growth and trends report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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Hemp-based foods have gained significant attention in the market due to their numerous health benefits. These foods, which include hemp seeds, hemp oil, and hemp protein, are rich in essential amino acids, omega-3 and omega-6 fatty acids, and fiber. The hemp foods market is driven by the increasing consumer awareness regarding health and wellness. Hemp seeds are a popular ingredient in various food products such as granolas, energy bars, and baked goods. Hemp oil is used in salad dressings, cooking, and as a dietary supplement. Hemp protein is used in vegan and vegetarian food products. The market is expected to grow due to the rising demand for plant-based food alternatives and the expanding application areas of hemp in the food industry. Further, the hemp industry is also witnessing advancements in technology, leading to the development of new products and processing methods. The market for hemp-based foods is expected to continue its growth trajectory in the coming years.
However, misconceptions and stigma surrounding the use of hemp-derived products persist. It is essential to educate consumers about the nutritional benefits of hemp seeds, hemp oil, and other hemp-based food items to overcome these misconceptions and expand the market. In addition, as the global hemp-based food market expands, food and beverage additives such as hemp seeds are increasingly being utilized to cater to the vegan and vegetarian population, all while navigating product labeling and marketing restrictions. In summary, the market is growing due to the increasing health consciousness of consumers and the nutritional benefits of hemp seeds, hemp oil, and other hemp-based food items. Organic hemp-based foods offer a viable alternative to traditional dairy and gluten-containing products, making them an attractive option for individuals with dietary restrictions or chronic medical conditions.
Further, hemp-based foods have gained significant attention in the health and wellness sector due to their nutritional benefits. The hemp plant is the source of various food items, including hemp seeds, hemp oil, and cheese replacements. These foods are rich in fiber, vitamins, minerals, and plant-based protein, making them an excellent choice for individuals with chronic medical diseases or those conscious of their health. Hemp seeds and hemp oil are organic food items that have been gaining popularity as alternatives to dairy products and gluten-containing foods. Hemp-based food products offer various nutritional advantages, such as high fiber content, essential fatty acids, and a complete protein profile. Marketing tactics have played a crucial role in increasing the retail presence of hemp-based foods.
Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 16.41% |
Market growth 2024-2028 |
USD 6.91 billion |
Market structure |
USD Fragmented |
YoY growth 2023-2024(%) |
13.73 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, China, Germany, Canada, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ananta Hemp Works, Bombay Hemp Co. Pvt. Ltd., Boring Hemp Co., CANAH INTERNATIONAL Srl, Cann Global Ltd., Canopy Growth Corp., GFR Ingredients Ltd., HempFlax Group BV, Hemp Juice Company BV, Hempro Int. GmbH, Hudson River Foods, Isodiol International Inc., Liaoning Qiaopai Biotech Co. Ltd., Naturally Hemps LLC, Navitas LLC, North American Hemp and Grain Co., Nutiva Inc., The Hemp Corp. Pty Ltd., Victory Hemp Foods, and Yunnan Hua Fang Industrial Hemp Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market forecast report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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