Hemp-based Foods Market

Hemp-based Foods Market - Overview

The global hemp-based foods market is estimated to rise at a healthy rate from 2021 to 2031 (forecast period). The rising demand for organic hemp-based foods is a major factor projected to drive the global hemp-based foods market during the forecast period. The growing health consciousness and the detrimental impacts of food and beverage additives have increased the demand for organic food items. This trend is ideal for hemp-based food products. Moreover, several leading market players are introducing organic hemp-based food items to meet the growing customer demand. As a result, the global hemp-based foods market is expected to experience considerable growth during the forecast period.

Hemp-based Foods Market - Competitive Landscape

Leading players in the hemp-based foods market are Hemp Foods Australia Pty Ltd, Agropro, Cool Hemp, Elixinol Wellness Limited, Nutiva Inc., Hempco Inc., Canopy Growth Corporation, Compass Diversified, Naturally Splendid Enterprises Ltd., CANADA HEMPFOODS LTD., Elixinol., NAVITAS ORGANICS, Liaoning Qiaopai Biotech Co., Ltd., Yunnan Hua Fang Industrial Hemp Co. Ltd., Mettrum Originals, and Hemp & Co.

To develop their global appeal, key market players are continuing to pursue marketing tactics such as investments, technological innovations, collaborations, R&D activities, and acquisitions.

Hemp-based Foods Market - Trends and Opportunities

Hemp-based food items are widely used around the world since hemp contains minerals, vitamins, and fiber-containing magnesium, vitamin E, zinc, and iron. Hemp protein-based foods, hemp oil-based meals, and hemp seed-based foods are three types of hemp-based foods that are widely accessible on the market. Furthermore, hemp-based food items are popular among consumers since they are simple to digest and free of gluten, allergies, lactose, genetically modified pesticides, phytoestrogen, and organisms.

The growing preference for hemp-based foods, increasing cases of celiac disease, a bourgeoning vegan population worldwide, and increased health awareness among the public are some of the main factors projected to drive the sales of hemp-based foods market during the forecast period. People's sedentary lifestyles are raising the incidence of many chronic medical conditions. Hemp-based food items help to balance insulin levels, reduce anxiety and stress, improve heart function, and promote joint health.

Moreover, the steady development of new product variations, such as hemp seed-based sauces, shakes, burgers, desserts, and ice creams, is another important factor expected to boost the global hemp-based foods market. As a consequence, restaurants, cafes, and other eateries are trying out various hemp flavors and mixtures in order to offer their customers innovative and unique cuisine. Other factors, such as the premiumization of organic and gluten-free foods and beverages and strong marketing efforts by producers via multiple online retail channels, are likely to propel the global hemp-based foods market.

Furthermore, increasing demand for organic hemp-based foods is anticipated to accelerate the growth of the global hemp-based foods market. Organic foods are in high demand due to growing health awareness and the negative effects of food and beverage additives. To appeal to the growing consumer base, many significant market companies are introducing organic hemp-based food items.

Hemp-based Foods Market - Regional Landscape

The hemp-based foods market in North America is projected to expand during the forecast period. This is primarily due to increasing health concerns among people, a preference for organic food goods, and widespread intake of hemp-based food products such as cereals, granola bars, pretzels, and others in North American countries such as Canada and the United States.

The hemp-based foods market in Asia Pacific is anticipated to grow owing to a growing preference for hemp-based foods due to gluten-free and other qualities linked with it, as well as high acceptance of western food habits in nations like China and India.