Hemp-Based Food Market Share, Size, Growth, Opportunity and Forecast 2020-2025

Press Release:

Global Hemp-Based Food Market to Witness Moderate Growth During 2020-2025, Spurred by Significant Growth in Food and Beverages Sector

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Hemp-Based Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025

Market Overview:

The global hemp-based food market grew at a CAGR of around 7% during 2014-2019. Hemp-based food, such as hemp seeds, milk and hemp oil, cheese substitutes and protein powder, is obtained by harvesting the hemp plant and hulling whole hemp seeds to separate oil-rich kernels. Both the shells and hulled hemp seeds are rich sources of fiber, vitamins and minerals, including magnesium, phosphorus, potassium, vitamin A, B, C and E, zinc and iron. They are also free from gluten, allergens, lactose, phytoestrogens and pesticides. They are commonly used to manufacture granola bars, corn chips, pretzels, bread and cereals.

The growing food and beverage industry and increasing consumer preferences for vegan food products, represent as the key factors creating a positive outlook for the market. Furthermore, rising health consciousness and consumer awareness regarding the nutritional benefits of hemp-based food products is also driving the market growth. Due to the sedentary lifestyle of the masses, there is an escalating prevalence of various chronic-medical ailments. Hemp-based food products aid in balancing insulin levels, improving cardiac function, reducing stress and anxiety and promoting joint health, thereby favoring the market growth. Additionally, the continual launch of innovative product variants, such as hemp seed-based sauces, burgers, shakes, ice creams and desserts, is acting as another growth-inducing factor. In line with this, cafes, restaurants and other eateries are experimenting with a variety of flavors and combinations of hemp to offer unique and innovative dishes to their customers. Other factors, including the premiumization of gluten-free and organic food and beverages, along with aggressive promotional activities by manufacturers through various online retail channels, are anticipated to drive the market further. Looking forward, IMARC Group expects the global hemp-based food market to continue its moderate growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global hemp-based food market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, product and distribution channel.

Breakup by Product:

Hemp Protein Powder
Hemp Seed Oil
Hemp Seeds
Others

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Convenience Stores
Online Stores
Others

Breakup by Region:

North America
- United States
- Canada
Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Canada Hemp Foods 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, Isodiol International Inc., Navitas Organics, Nutiva and T12 Holdings Pty Ltd. (Cann Global Limited).

Key Questions Answered in This Report:

How has the global hemp-based food market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global hemp-based food market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the distribution channel?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global hemp-based food market and who are the key players?
What is the degree of competition in the industry?