Market Overview:
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.
Key Market Segmentation:
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 Protein Powder
- Hemp Seed Oil
- Hemp Seeds
- Others
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
- Convenience Stores
- Online Stores
- Others
Supermarkets and hypermarkets hold most of the total market share as they have a wider collection of products.
Breakup by Region:
- North America
- 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
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.
Competitive Landscape:
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.
Report Coverage:
| Report Features |
Details |
|---|
| Base Year of the Analysis |
2021 |
| Historical Period |
2016-2021 |
| Forecast Period |
2022-2027 |
| Units |
US$ Billion |
| 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
Five User License: US$ 3499
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) |
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Hemp-Based Food Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Product
6.1 Hemp Protein Powder
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Hemp Seed Oil
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Hemp Seeds
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Others
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Distribution Channel
7.1 Supermarkets and Hypermarkets
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Convenience Stores
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Online Stores
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Others
7.4.1 Market Trends
7.4.2 Market Forecast
8 Market Breakup by Region
8.1 North America
8.1.1 United States
8.1.1.1 Market Trends
8.1.1.2 Market Forecast
8.1.2 Canada
8.1.2.1 Market Trends
8.1.2.2 Market Forecast
8.2 Asia Pacific
8.2.1 China
8.2.1.1 Market Trends
8.2.1.2 Market Forecast
8.2.2 Japan
8.2.2.1 Market Trends
8.2.2.2 Market Forecast
8.2.3 India
8.2.3.1 Market Trends
8.2.3.2 Market Forecast
8.2.4 South Korea
8.2.4.1 Market Trends
8.2.4.2 Market Forecast
8.2.5 Australia
8.2.5.1 Market Trends
8.2.5.2 Market Forecast
8.2.6 Indonesia
8.2.6.1 Market Trends
8.2.6.2 Market Forecast
8.2.7 Others
8.2.7.1 Market Trends
8.2.7.2 Market Forecast
8.3 Europe
8.3.1 Germany
8.3.1.1 Market Trends
8.3.1.2 Market Forecast
8.3.2 France
8.3.2.1 Market Trends
8.3.2.2 Market Forecast
8.3.3 United Kingdom
8.3.3.1 Market Trends
8.3.3.2 Market Forecast
8.3.4 Italy
8.3.4.1 Market Trends
8.3.4.2 Market Forecast
8.3.5 Spain
8.3.5.1 Market Trends
8.3.5.2 Market Forecast
8.3.6 Russia
8.3.6.1 Market Trends
8.3.6.2 Market Forecast
8.3.7 Others
8.3.7.1 Market Trends
8.3.7.2 Market Forecast
8.4 Latin America
8.4.1 Brazil
8.4.1.1 Market Trends
8.4.1.2 Market Forecast
8.4.2 Mexico
8.4.2.1 Market Trends
8.4.2.2 Market Forecast
8.4.3 Others
8.4.3.1 Market Trends
8.4.3.2 Market Forecast
8.5 Middle East and Africa
8.5.1 Market Trends
8.5.2 Market Breakup by Country
8.5.3 Market Forecast
9 SWOT Analysis
9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats
10 Value Chain Analysis
11 Porters Five Forces Analysis
11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
13.3.1 Canada Hempfoods Ltd.
13.3.1.1 Company Overview
13.3.1.2 Product Portfolio
13.3.2 Fresh Hemp Foods Ltd. (Tilray Inc.)
13.3.2.1 Company Overview
13.3.2.2 Product Portfolio
13.3.3 GFR Ingredients Inc.
13.3.3.1 Company Overview
13.3.3.2 Product Portfolio
13.3.4 Hemp Foods Australia Pty Ltd. (Elixinol Global Limited)
13.3.4.1 Company Overview
13.3.4.2 Product Portfolio
13.3.5 Hempco Food and Fiber Inc. (Aurora Cannabis Inc.)
13.3.5.1 Company Overview
13.3.5.2 Product Portfolio
13.3.6 Naturally Splendid Enterprises Ltd.
13.3.6.1 Company Overview
13.3.6.2 Product Portfolio
13.3.6.3 Financials
13.3.7 Isodiol International Inc.
13.3.7.1 Company Overview
13.3.7.2 Product Portfolio
13.3.7.3 Financials
13.3.8 Navitas Organics
13.3.8.1 Company Overview
13.3.8.2 Product Portfolio
13.3.9 Nutiva
13.3.9.1 Company Overview
13.3.9.2 Product Portfolio
13.3.10 T12 Holdings Pty Ltd. (Cann Global Limited)
13.3.10.1 Company Overview
13.3.10.2 Product Portfolio
List of Figures
Figure 1: Global: Hemp-Based Food Market: Major Drivers and Challenges
Figure 2: Global: Hemp-Based Food Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Hemp-Based Food Market: Breakup by Product (in %), 2021
Figure 4: Global: Hemp-Based Food Market: Breakup by Distribution Channel (in %), 2021
Figure 5: Global: Hemp-Based Food Market: Breakup by Region (in %), 2021
Figure 6: Global: Hemp-Based Food Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 7: Global: Hemp-Based Food (Hemp Protein Powder) Market: Sales Value (in Million US$), 2016 & 2021
Figure 8: Global: Hemp-Based Food (Hemp Protein Powder) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 9: Global: Hemp-Based Food (Hemp Seed Oil) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Hemp-Based Food (Hemp Seed Oil) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Hemp-Based Food (Hemp Seeds) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Hemp-Based Food (Hemp Seeds) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Hemp-Based Food (Other Products) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Hemp-Based Food (Other Products) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Hemp-Based Food (Supermarkets and Hypermarkets) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Hemp-Based Food (Supermarkets and Hypermarkets) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Hemp-Based Food (Convenience Stores) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Hemp-Based Food (Convenience Stores) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Hemp-Based Food (Online Stores) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Hemp-Based Food (Online Stores) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Hemp-Based Food (Other Distribution Channels) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Hemp-Based Food (Other Distribution Channels) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: North America: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: North America: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: United States: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: United States: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Canada: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Canada: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Asia Pacific: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Asia Pacific: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: China: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: China: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Japan: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Japan: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: India: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: India: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: South Korea: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: South Korea: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Australia: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Australia: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Indonesia: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Indonesia: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Others: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Others: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: Europe: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: Europe: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Germany: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Germany: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: France: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: France: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: United Kingdom: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: United Kingdom: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Italy: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Italy: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Spain: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Spain: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Russia: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Russia: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Others: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Others: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Latin America: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Latin America: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Brazil: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Brazil: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Mexico: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Mexico: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Others: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Others: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Middle East and Africa: Hemp-Based Food Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Middle East and Africa: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Global: Hemp-Based Food Industry: SWOT Analysis
Figure 72: Global: Hemp-Based Food Industry: Value Chain Analysis
Figure 73: Global: Hemp-Based Food Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: Global: Hemp-Based Food Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Hemp-Based Food Market Forecast: Breakup by Product (in Million US$), 2022-2027
Table 3: Global: Hemp-Based Food Market Forecast: Breakup by Distribution Channel (in Million US$), 2022-2027
Table 4: Global: Hemp-Based Food Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 5: Global: Hemp-Based Food Market Structure
Table 6: Global: Hemp-Based Food Market: Key Players