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The global hemp-based food market reached a value of US$ 1.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2027, exhibiting a CAGR of 15.52% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Hemp-based food is rich in omega-3 fatty acids, vitamins, minerals, zinc, folate, calcium, iron, magnesium, potassium, fiber, and other essential nutrients. Its consumption assists in promoting joint health, improving heart health, balancing insulin levels, reducing stress and anxiety, and minimizing the risk of developing chronic ailments. At present, due to the rising adoptionof veganism, hemp-based food products are gaining traction among the masses around the world.
Hemp-Based Food Market Trends:
Hemp-based food products are used in the preparation of commercial food dishes, including burgers, tea, coffee, shakes, sauces, dips, cake, salads, bread, pasta, muffins, and ice cream. This, in confluence with the thriving food and beverage (F&B) industry, represents one of the major factors bolstering the market growth. It can also be attributed to the increasing awareness among individuals about the health benefits of consuming hemp-based food products and the rising health consciousness among the masses. In addition, the escalating demand for premium and healthy alcoholic beverages on account of the emerging trend of socializing and parties among working professionals and young adults are contributing to the market growth. Apart from this, shifting consumer preferences for convenient, packaged hemp-based snacking options, such as chips, energy bars, flavored water, granola bars, and biscuits, is propelling the market growth. Furthermore, key players are focusing on providing hemp-based food products and bakery products through online shopping apps. This, in confluence with the thriving e-commerce industry, is offering lucrative growth opportunities to industry investors.
IMARC Group provides an analysis of the key trends in each sub-segment of the global hemp-based food market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product and distribution channel.
Breakup by Product:
Hemp seeds dominate the market as they aid in improving heart health by reducing cholesterol, blood pressure, and triglycerides.
Breakup by Distribution Channel:
Supermarkets and hypermarkets hold most of the total market share as they have a wider collection of products.
Breakup by Region:
North America holds the majority of the global hemp-based food market share due to the increasing awareness among individuals about the health benefits of consuming hemp-based food products in the region.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Hempfoods Ltd., Tilray, Inc., GFR Ingredients, Hemp Foods Australia Pty Ltd, Aurora Cannabis Inc.,Naturally Splendid Enterprises Ltd.,Isodiol International Inc, Navitas LLC,Nutiva, and T12 Holdings Pty Ltd.
|Base Year of the Analysis||2021|
|Segment Coverage||Product, Distribution Channel, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Canada Hempfoods Ltd., Fresh Hemp Foods Ltd. (Tilray, Inc), GFR Ingredients Inc., Hemp Foods Australia Pty Ltd. (Elixinol Global Limited), Hempco Food and Fiber Inc. (Aurora Cannabis Inc.), Naturally Splendid Enterprises Ltd, Isodiol International Inc., Navitas Organics, Nutiva and T12 Holdings Pty Ltd. (Cann Global Limited)|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
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Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
The global hemp-based food market was valued at US$ 1.1 Billion in 2021.
We expect the global hemp-based food market to exhibit a CAGR of around 15.52% during 2022-2027.
The emerging adoption of veganism, along with the growing utilization of hemp-based food items in
several commercial food dishes, such as burgers, tea, coffee, shakes, etc., owing to their various
nutritional benefits, is primarily driving the global hemp-based food market.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from
conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of
hemp-based food products.
Based on the product, the global hemp-based food market has been segregated into hemp protein
powder, hemp seed oil, hemp seeds, and others. Currently, hemp seeds represent the largest market
Based on the distribution channel, the global hemp-based food market can be divided into supermarkets
and hypermarkets, convenience stores, online stores, and others. Among these, supermarkets and
hypermarkets currently account for the majority of the total market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global hemp-based food market include Hempfoods Ltd., Tilray, Inc.,
GFR Ingredients, Hemp Foods Australia Pty Ltd, Aurora Cannabis Inc.,Naturally Splendid Enterprises
Ltd.,Isodiol International Inc, Navitas LLC,Nutiva, and T12 Holdings Pty Ltd.
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