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Hemp based foods market trends, hemp based foods market growth, hemp based foods market forecast, hemp based foods market size, hemp based foods market overview.
What Is The Forecast For The Hemp Based Foods Global Market By 2025?
The hemp based foods market size has grown robustly in recent years and will expand from $5.94 billion in 2024 to $6.49 billion in 2025 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to legalization of hemp cultivation and increased consumer demand for plant-based and natural products, along with increased awareness about hemp’s nutritional benefits. The market is expected to continue its strong growth, reaching $9.08 billion in 2029 at a compound annual growth rate (CAGR) of 8.8% driven by regulatory support, market penetration in emerging economies, and high consumer interest in sustainable and eco-friendly products.
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What Is Driving The Growth Of The Hemp-Based Foods Market?
The rising number of vegans is a key growth driver for the hemp-based food market. An increase in people adopting vegan diets out of concerns for health, weight control, animal welfare, and the environment has led to increased demand for plant-based products such as hemp which contains all nine essential amino acids, fiber, healthy fats, and minerals. In particular, the vegan population in the UK grew by 1.1 million between 2023 and 2024, indicating a positive trend for the hemp-based food market.
What Are The Key Segments In The Global Hemp Based Foods Market?
1) By Product: Hemp Seed Oil, Hemp Protein Powder, Whole Hemp Seed, Hulled Hemp Seed
2) By Distribution Channel: Supermarket Stores, Convenience Stores
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Which Major Players Are Operating In The Global Hemp Based Foods Market?
Major companies include Nutiva Inc., Compass Group Management LLC, Canopy Growth Corporation, Hempco Inc., Terra Tech Corp., Manitoba Harvest, Braham Murray, Liaoning Qiaopai Biotech Co. Ltd., and many others.
What Are The Emerging Trends In The Hemp-Based Foods Market?
Strategic partnerships play a crucial role in driving the hemp-based food market as major companies partner with hemp-based food businesses to expand into new markets and leverage resources. For example, in July 2022, Victory Hemp Foods collaborated with Applied Foods Sciences (AFS) to expand their range of hemp grain products.
Which region Is Expected To See The Most Growth In The Hemp-Based Foods Market?
North America outranked all other regions in the hemp-based food market in 2024 and is expected to be the fastest-growing region in the forecast period.
What Is The Definition Of The Hemp Based Foods Market?
Hemp-based foods are derived from hemp plant seeds which are known to contain all the essential amino acids required by our bodies. Commonly, hemp seeds and oils are used to make a variety of food products such as hemp milk, hemp oil, hemp cheese substitutes, and hemp-based protein powder. The Hemp Based Foods Market from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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