Global Hemp Based Foods Market Expects 8.9% CAGR through 2028, with Increasing Vegan Population and Technological Advancements
Dublin, Jan. 31, 2024 (GLOBE NEWSWIRE) — The “Hemp Based Foods Global Market Report 2024” has been added to ResearchAndMarkets.com’s offering.
The global hemp based foods market is showing strong indicators of growth, fueled by the rising vegan population, advancements in processing technology, and the increasing prevalence of health-conscious consumers seeking plant-based and gluten-free alternatives.
This comprehensive market analysis report details these trends and market behaviors through to 2024 presenting in-depth insights into the dynamic hemp-based foods landscape.
The latest research intelligently segments the market into various products, such as hemp seed oil, hemp protein powder, and whole and hulled hemp seeds, and scrutinizes their distribution through channels such as supermarkets and convenience stores. The report dissects the impact of various factors contributing to the market’s growth, including regulatory support, consumer preferences, and strategic industry partnerships.
Hemp Based Foods Market Expects Accelerated 8.9% CAGR through 2028
An auspicious projection for the market sees a sustained compound annual growth rate (CAGR) of 8.9% from 2024 to 2028, pointing towards burgeoning opportunities for stakeholders within the hemp-based foods industry. The market trends suggest an increasing inclination towards incorporating hemp in everyday diets due to its rich nutritional profile and diverse culinary applications.
Innovative Product Launches and Strategic Partnerships Characterizing Market
Key market players are exhibiting an eagerness to innovate, evidenced through novel product developments such as hemp-based peanut butter and CBD-infused food items. These innovations demonstrate the market’s versatility and ability to cater to evolving consumer tastes.
Simultaneously, strategic partnerships among industry giants are carving new avenues for the distribution and enhancement of hemp-based foods. North America stands out as the leading region in the hemp-based foods market, underpinned by its substantial consumer base, well-established regulatory framework, and thriving health and wellness industry.
The region promises to maintain its dominance and pace of growth through the next several years. Moreover, the analysis delves into other high-growth geographical areas and the reasons behind their market potential.
Impact of Lifestyle Choices on Market Dynamics
- The surging global vegan population, which demands high-quality plant-based proteins, significantly propels the market.
- Celiac disease’s prevalence has guided consumers toward nutrient-rich, gluten-free substitutes offered by the hemp-based foods industry.
This report constitutes a key resource for entities seeking to understand and navigate the complex hemp based foods market. It delivers actionable insights that can effectively inform strategic business decisions and long-term investment plans.
The market research underscores the strength and adaptability of the hemp based foods sector and its alignment with current consumer health trends and ecological considerations. It offers a bird’s-eye view of the kind of innovation and strategic thought leadership driving the industry to new heights.
Key Markets Covered:
- By Product: Hemp Seed Oil; Hemp Protein Powder; Whole Hemp Seed; Hulled Hemp Seed
- By Distribution Channel: Supermarket Stores; Convenience Stores
- Nutiva Inc.
- Compass Group Management LLC
- Canopy Growth Corporation
- Hempco Inc.
- Terra Tech Corp.
- Manitoba Harvest
- Braham Murray
- Liaoning Qiaopai Biotech Co. Ltd.
- Canah International SRL
- GIGO Food
- Just Hemp Foods
- North American Hemp Grain Co.
- Yunnan Hua Fang Industrial Hemp Co. Ltd.
- GFR Ingredients Inc.
- Naturally Splendid Enterprises Ltd.
- Navitas Organics
- Hemp Foods Australia Pty Ltd.
- Elixinol Wellness Limited
- Canada Hemp Foods Ltd.
- Mettrum Originals
- The Hemp Corporation Pty Ltd.
- Fresh Hemp Foods Ltd.
- Laguna Blends Inc.
- Ecofibre Limited
- Beyond Meat
- Impossible Foods Inc.
- Good Hemp Inc.
For more information about this report visit https://www.researchandmarkets.com/r/dp4748
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