Hemp-based Foods Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Hemp-based Foods Market is segmented By Product (Hemp Seed Oil, Hemp Protein Powder, Whole Hemp Seed, Hulled Hemp Seed, Others), By Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Online Retails, Others), By Region (North America, South America, Europe, Asia Pacific, Middle East, and Africa) – Size, Share, Outlook, and Opportunity Analysis, 2024-2031

Hemp-based Foods Market Overview

The Global Hemp-based Foods Market reached USD 3.2 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 6.4 billion by 2030. The market is growing at a CAGR of 9.2% during the forecast period 2024-2031. The increasing popularity of plant-based diets, including vegan and vegetarian life, is driving the demand for alternative protein assets.

Hemp seeds and hemp protein powder are considered plant-based protein options as they incorporate all important amino acids. Hemp-based protein merchandise is gaining traction as customers seek protein-rich options to animal-derived resources.

 The focus on sustainability and organic food production is influencing the hemp-based food market. Consumers are increasingly seeking products made from organically grown hemp, produced without synthetic pesticides or fertilizers. Sustainable cultivation practices, environmentally friendly packaging, and transparent supply chains are becoming important factors driving consumer choices.

Hemp-based Foods Market Scope and Summary

Hemp-based Foods Market Dynamics and Trends

Rising Vegan and Vegetarian Population is Driving the Market Growth of Hemp-Based Foods Market Growth

Hemp seeds are considered a valuable source of plant-based protein as they contain all crucial amino acids required by the human body. This makes them an appealing desire for vegans and vegetarians who searching for protein-rich options for animal-based products. The demand for plant-based protein is growing as individuals adopt vegan or vegetarian diets, and hemp-based ingredients provide a feasible and nutritious choice.

Hemp-based foods, inclusive of hemp seeds, hemp protein powder, and hemp oil, can be easily incorporated into diverse vegan and vegetarian recipes. They may be added to smoothies, salads, baked items, granola bars, and different dishes, offering a source of nutrients and flavor. The flexibility of hemp-primarily based ingredients allows individuals following plant-based diets to diversify their meals and enhance their dietary intake.

Rising Occurrences of Celiac Diseases is Driving the Market Growth of Hemp-Based Foods Market

Celiac disease is an autoimmune illness prompted by the usage of the consumption of gluten, a protein determined in wheat, barley, and rye. According to National Institute of Diabetes and Digestive and Kidney Disease, there are approximately 2 million people in the United States having celiac disease. People with celiac illness need to conform to a strict gluten-loose diet to control their condition. Hemp-primarily based ingredients, alongside hemp seeds, hemp flour, and hemp-based products, are gluten-free. This makes them the precise opportunity for people with celiac sickness who are trying to find gluten-free options.

Hemp-based food provides numerous vital nutrients, which consist of protein, fiber, wholesome fat, vitamins, and minerals. Peoples with celiac ailments frequently face worrying conditions in meeting their dietary desires because of recommendations on high-quality grains and gluten-containing foods. Hemp-based foods can help people with celiac disease diversify their diet and attain important vitamins that can be lacking in gluten-free options.

Regulatory Challenges Can Restrain the Market Growth

Regulations related to the production, processing, and labeling of hemp-based foods can vary between countries and even within different regions or states. This inconsistency creates complexity and uncertainty for manufacturers, especially those operating in multiple jurisdictions. It can increase compliance costs and hinder market expansion as companies must navigate different regulatory frameworks.

Tetrahydrocannabinol (THC) is a psychoactive compound found in cannabis, including hemp. Many regulatory bodies impose THC limits in hemp-based foods to ensure compliance with legal requirements and to prevent potential intoxication. However, the permissible THC limits can vary, with some regions setting strict thresholds. This can pose challenges for manufacturers in maintaining consistent THC levels in their products and complying with diverse regulations.

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Hemp-based Foods Market Segment Analysis

The global hemp-based foods market is segmented based on product type, distribution channel, and region.

Nutritional Profile of Hemp Seed Oil Boosts the Segment Growth

In 2022, hemp seed oil had the highest percentage inside the hemp-based foods market. Hemp seed oil is rich in vital fatty acids, which encompass omega-3 and omega-6, which can be taken into consideration as beneficial for health. The hump seed oil contains a high amount of polyunsaturated fatty acid (PUFA) (70-ninety%) and is a superb nutritional deliverer of vital fatty acids, linoleic and linolenic acids. those fatty acids play an important feature in keeping coronary heart fitness, supporting brain function, and decreasing infection. The dietary composition of hemp seed oil makes it an appealing preference for health-aware customers.

Hemp seed oil is known for its best nutty flavor, making it a versatile aspect in numerous culinary applications. It could be used as a salad dressing, added to smoothies, drizzled over cooked dishes, or included in baking recipes. Its versatility in cooking and ability to enhance flavors make hemp seed oil popular among consumers and chefs alike.

Source: DataM Intelligence Analysis (2023)

Global Hemp-based Foods Market Geographical Penetration

North America Region Held Highest Market Share

In 2022, the North American region had the highest share of the hemp-based foods market. North America, particularly the United States and Canada, has been at the forefront of hemp legalization and regulatory developments. According to United Nations Conference on Trade and Development, most hemp production in the U.S. has been “floral hemp” for CBD production: 40% of 13,189 ha, 87.5% of $712M (2021).

North American consumers have shown a growing interest in natural and plant-based food products. The region has seen widespread growth in health-conscious and environmentally aware consumers who seek nutritious and sustainable food options. Hemp-based totally meals align with these alternatives, as they are perceived as natural, plant-primarily based, and nutritionally useful, hence driving the market growth in the region.

Source: DataM Intelligence Analysis (2023)

Hemp-based Foods Market Companies 

The major global players include Compass Diversified, Nutiva Inc., Aurora Cannabis Inc., Canopy Growth, India Hemp and Co., Naturally Splendid Enterprises LTD., Mettrum Originals, Hemp Foods Australia, The Cool Hemp Company Inc., and Agroprpo

COVID-19 Impact Analysis

COVID-19 Impact on Hemp-based Foods Market

Hemp is exponentially growing in the U.S. with rapidly growing consumption and developments in terms of new formulations. All hemp-based food products witnessed growth globally. During the COVID period, demand for products such as tea coffee, milk, and snack bars increased. The rise in concerns associated with anxiety and depression among the U.S. and Europe population led to the spike in sales of hemp supplements. The prolonged work from home, ban on recreation and tourism, and health concerns associated with the virus triggered mental issues among people

By Product

• Hemp Seed Oil
• Hemp Protein Powder
• Whole Hemp Seed
• Hulled Hemp Seed
• Others

By Distribution Channel

• Hypermarket/Supermarket
• Convenience Stores
• Online Retails
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In May 2023, Hemperella, a producer of hemp superfoods, launched hemp-based superfood products. This new product line includes hemp-based protein powder, protein bars, seeds, oils, salad toppers, and flour
• In March 2023, Gaia’s Farming Co, a maker of hemp-based food and beverage products, launched hemp-based peanut, and almond butter.
• In March 2023, Planet Based Foods, a maker of innovative hemp-based meat, entered the frozen dessert category with organic hemp milk ice cream.

Why Purchase the Report?

• To visualize the global hemp-based foods market segmentation based on product, distribution channel, and region understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous hemp-based foods market-level data points all for segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The Global Hemp-based Foods Market Report Would Provide Approximately 61 Tables, 54 Figures And 102 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies