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The global hemp-based food market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 15% during 2021-2026. 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, 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.
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 2021-2026. Our report has categorized the market based on product and distribution channel.
Breakup by Product:
Breakup by Distribution Channel:
Breakup by Region:
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).
|Base Year of the Analysis||2020|
|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 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)|
|Customization Scope||10% Free Customization|
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|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)|
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