Global Hemp-based Foods Market Overview
Hemp-based Foods Market Size was estimated at 0.93 (USD Billion) in 2022. The Hemp-based food industry is expected to grow from 1.19 (USD Billion) in 2023 to 10.56 (USD Billion) by 2032. The Hemp-based Foods Market CAGR (growth rate) is expected to be around 27.47% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Hemp-based Foods Market Trends Highlighted
The hemp-based foods market is rapidly expanding due to growing awareness of the health benefits associated with hemp consumption. Increasing demand for plant-based and sustainable food options is driving the market growth. Moreover, government regulations in various regions are becoming more favorable towards the cultivation and Processing of hemp for food purposes.
Key market drivers include the rising prevalence of chronic diseases, increasing disposable income, and shifting consumer preferences towards healthier and more sustainable diets.
The market is also witnessing the emergence of new product categories, such as hemp-infused beverages, bakery products, and snacks, which are gaining popularity among health-conscious consumers.
Recent trends in the hemp-based foods market include the development of innovative extraction technologies that enhance the bioavailability of hemp compounds. Additionally, the growing adoption of online retailing platforms is providing new avenues for market expansion.
The market is expected to continue its upward trajectory in the coming years, driven by the increasing demand for hemp-based products and the expanding regulatory landscape.
Hemp-based Foods Market Drivers
Rising Demand for Plant-based Foods
The growing popularity of plant-based diets is a major driver of the hemp-based Food market. Consumers are increasingly seeking out alternatives to animal-based products due to concerns about health, sustainability, and animal welfare.
Hemp-based Foods offer a nutritious and sustainable option that meets these consumer demands. They are a rich source of protein, fiber, and essential fatty acids, and they have a low carbon footprint compared to animal-based foods.
The increasing availability of Hemp-based Foods in retail and food service outlets is also making them more accessible to consumers, further driving market growth.
Growing Awareness of the Health Benefits of Hemp
Hemp has been used for centuries for its medicinal properties, and modern research is increasingly supporting these traditional uses. Hemp-based Foods are a rich source of cannabinoids, which have been shown to have a variety of health benefits, including reducing inflammation, improving sleep, and relieving pain.
As consumers become more aware of the health benefits of hemp, they are increasingly seeking out Hemp-based Foods to improve their overall well-being.
Government Support for Hemp Cultivation
Governments around the world are increasingly recognizing the potential of hemp as a sustainable and versatile crop. This is leading to increased support for hemp cultivation, which is making it more affordable for farmers to grow hemp and for food manufacturers to source hemp ingredients.
In the United States, for example, the 2018 Farm Bill removed hemp from the list of controlled substances, which has led to a significant increase in hemp cultivation.
Similar changes are happening in other countries around the world, which is creating a more favorable environment for the growth of the hemp-based Food market.
Hemp-based Foods Market Segment Insights
Hemp-based Foods Market Product Type Insights
The Hemp-based Foods Market segmentation by product type reveals a diverse range of products, each catering to specific consumer needs and preferences. Hemp seeds, a key segment, are projected to maintain their dominance in the market, accounting for a significant share of the overall revenue.
Their nutritional value, rich in protein, fiber, and essential fatty acids, drives their popularity among health-conscious consumers. Hemp seed oil, another prominent segment, is gaining traction due to its numerous health benefits, including its anti-inflammatory and antioxidant properties.
It finds applications in various industries, such as food, cosmetics, and pharmaceuticals. Hemp protein powder, a plant-based alternative to traditional protein sources, is witnessing a surge in demand from fitness enthusiasts and vegans.
Its high protein content and digestibility make it an ideal choice for muscle growth and recovery. Hemp milk, a dairy-free alternative, is gaining popularity among lactose-intolerant individuals and those seeking a healthier option. Its creamy texture and nutty flavor make it a versatile ingredient in various beverages, smoothies, and culinary dishes.
Hemp flour, derived from ground hemp seeds, is another notable segment in the Hemp-based Foods Market. Its high fiber content and nutty flavor profile make it a sought-after ingredient in gluten-free baking and various culinary preparations.
The 'Others' segment encompasses a range of other hemp-based food products, including hemp snacks, hemp granola bars, and hemp-infused beverages. These products cater to the growing demand for convenient and healthy on-the-go options.
Overall, the Hemp-based Foods Market segmentation by product type highlights the diverse applications and functionalities of hemp-based products.
As consumer awareness of the health benefits and versatility of hemp continues to grow, the market is poised for significant growth in the years to come.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Hemp-based Foods Market Application Insights
The application segment plays a crucial role in shaping the Hemp-based Foods Market. Food and Beverages, Dietary Supplements, Cosmetics and Personal Care, Animal Feed, Bioplastics, Pharmaceuticals, and Others are the key application segments driving the market growth.
Among these, food and beverage dominate the market, accounting for a significant share of the hemp-based food market revenue. The rising demand for plant-based food products and the growing popularity of hemp-infused functional foods contribute to the dominance of this segment.
Dietary supplements also hold a notable share, driven by the increasing consumer awareness of the health benefits associated with hemp-based products. Cosmetics and Personal Care is another promising segment, as hemp-derived ingredients gain recognition for their nourishing and rejuvenating properties.
Animal Feed, Bioplastics, Pharmaceuticals, and Others are emerging segments with growing potential, supported by the versatile applications of hemp in these industries.
Hemp-based Foods Market Distribution Channel Insights
The Hemp-based Foods Market is segmented by distribution channels into supermarkets/hypermarkets, convenience stores, e-commerce, specialty stores, health food stores, and others. Supermarkets/Hypermarkets held the largest share in 2023 and are expected to continue to dominate the market during the forecast period.
The growth of this segment can be attributed to the increasing number of consumers shopping for groceries at supermarkets and hypermarkets. E-commerce is expected to witness the fastest growth during the forecast period due to the convenience and ease of purchase offered by online platforms.
Hemp-based Foods Market End-Use Sector Insights
The Hemp-based Foods Market is segmented into Household, Commercial, Industrial, Bioenergy, and Others based on End-Use Sector. Among these segments, the Household segment held the largest market share of 45% in 2023, owing to the increasing demand for hemp-based food products for personal consumption.
The Commercial segment is projected to witness the highest growth rate of 29% during the forecast period, driven by the rising popularity of hemp-based food products in restaurants, cafes, and other food service establishments.
The Industrial segment is expected to account for a significant market share of 20% in 2023 due to the growing demand for hemp-based food products in the manufacturing industry. The Bioenergy segment held a market share of 10% in 2023, owing to the increasing use of hemp-based food products for biofuel production.
The Others segment, which includes applications in pharmaceuticals, cosmetics, and personal care, accounted for a market share of 5% in 2023.
Hemp-based Foods Market Processing Method Insights
The Hemp-based Foods Market is segmented by processing methods such as cold press, solvent extraction, mechanical processing, and others. Among these segments, Cold Pressed accounts for the largest market share due to its ability to preserve the nutritional value and flavor of the hemp seeds.
Solvent Extraction is another popular method due to its efficiency and ability to extract a wide range of cannabinoids. Mechanical Processing is a cost-effective method that involves crushing or grinding hemp seeds to extract the oil.
Others include methods such as ultrasonic extraction and enzymatic extraction, which are gaining traction due to their ability to extract specific compounds and improve the quality of the final product.
As the demand for hemp-based foods continues to grow, the market for Processing Methods is expected to witness significant growth in the coming years.
Hemp-based Foods Market Regional Insights
The regional segmentation of the Hemp-based Foods Market offers valuable insights into the market dynamics and growth potential across different regions. North America held the largest market share in 2023, owing to increasing consumer awareness and the presence of well-established players.
Europe follows closely, with growing demand for plant-based alternatives and favorable regulatory frameworks. APAC is anticipated to witness significant growth over the forecast period, driven by rising disposable incomes and changing dietary patterns.
South America and MEA are expected to contribute to the market growth, albeit at a slower pace, due to emerging economies and increasing urbanization.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Hemp-based Foods Market Key Players and Competitive Insights
Major players in the Hemp-based Foods Market are adopting various strategies to maintain their position in the market. These strategies include product innovation, mergers and acquisitions, and geographical expansion.
Leading Hemp-based food market players are investing in research and development to create new and innovative products that meet the evolving needs of consumers. Mergers and acquisitions are also a common strategy used by Hemp-based Foods Market players to expand their product portfolio and gain access to new markets.
Additionally, Hemp-based Foods Market players are expanding their geographical presence by establishing new production facilities and distribution channels in emerging markets.
Manitoba Harvest is a leading Canadian company that produces and sells hemp-based foods. The company offers a wide range of products, including hemp seeds, hemp oil, and hemp protein powder. Manitoba Harvest has a strong presence in the North American market and is expanding its operations into Europe and Asia.
Eviana is another major player in the hemp-based foods market. The company is headquartered in the United States and offers a variety of hemp-based products, including hemp seeds, hemp oil, and hemp protein powder.
Eviana has a strong online presence and is expanding its distribution network through partnerships with major retailers.
Key Companies in the Hemp-based Foods Market Include
- Medterra
- Receptra Naturals
- The Alkaline Water Company
- Aurora Cannabis
- Valens GroWorks Corp.
- NuLeaf Naturals
- Canopy Growth Corporation
- Trulieve Cannabis Corp.
- Isodiol International Inc.
- Hemp Inc.
- Tilray
- PureKana
- WeedMD
- Cronos Group
Hemp-based Foods Market Developments
Recent developments in the hemp-based foods market indicate a surge in demand for plant-based and sustainable food options. This growth is attributed to increasing consumer awareness about the nutritional benefits of hemp seeds and the legalization of hemp cultivation in several countries.
Additionally, the rising popularity of vegan and vegetarian diets and the growing demand for gluten-free products are driving the market expansion.
Hemp-based Foods Market Segmentation Insights
- Hemp-based Foods Market Product Type Outlook
- Hemp Seeds
- Hemp Seed Oil
- Hemp Protein Powder
- Hemp Milk
- Hemp Flour
- Others
- Hemp-based Foods Market Application Outlook
- Food and Beverages
- Dietary Supplements
- Cosmetics and Personal Care
- Animal Feed
- Bioplastics
- Pharmaceuticals
- Others
- Hemp-based Foods Market Distribution Channel Outlook
- Supermarkets/Hypermarkets
- Convenience Stores
- E-commerce
- Specialty Stores
- Health Food Stores
- Others
- Hemp-based Foods Market End-Use Sector Outlook
- Household
- Commercial
- Industrial
- Bioenergy
- Others
- Hemp-based Foods Market Processing Method Outlook
- Cold Pressed
- Solvent Extraction
- Mechanical Processing
- Others
- Hemp-based Foods Market Regional Outlook
- North America
- Europe
- South America
- Asia-Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
0.93(USD Billion) |
| Market Size 2023 |
1.19(USD Billion) |
| Market Size 2032 |
10.56(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
27.47% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Medterra, Receptra Naturals, The Alkaline Water Company, Aurora Cannabis, Valens GroWorks Corp., NuLeaf Naturals, Canopy Growth Corporation, Trulieve Cannabis Corp., Isodiol International Inc., Hemp Inc., Tilray, PureKana, WeedMD, Cronos Group |
| Segments Covered |
Product Type, Application, Distribution Channel, End-Use Sector, Processing Method, Regional |
| Key Market Opportunities |
1 Rising health awareness 2 Legalization in various countries 3 Increasing vegan population 4 Growing demand for plant-based protein 5 Innovations in hemp-based food products |
| Key Market Dynamics |
Rising consumer awareness of hemp nutritional benefits  Expanding retail distribution channels  Increasing government legalization  Growing popularity of plant-based diets  Technological advancements enhancing processing capabilities |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Hemp-based Foods Market is expected to reach a valuation of USD 10.56 billion by 2032, exhibiting a CAGR of 27.47% during the forecast period (2024-2032).
North America and Europe are the prominent regions driving the growth of the Hemp-based Foods Market. The increasing demand for plant-based food products, coupled with the legalization of hemp cultivation in several countries, is fueling the market growth in these regions.
The food and beverage segment is anticipated to account for a substantial share of the Hemp-based Foods Market. The rising popularity of hemp-based milk, protein powders, and other food products is contributing to the segment's growth.
Some of the prominent players in the Hemp-based food market include Hemp Foods Australia, Elixinol Limited, Manitoba Harvest Hemp Foods, and Canah International.
The growing awareness of the health benefits associated with hemp-based foods, such as its rich protein content and omega fatty acid profile, is propelling the market growth. Additionally, the increasing adoption of vegan and plant-based diets is further fueling the demand for hemp-based food products.
The stringent regulatory landscape surrounding hemp cultivation and the limited availability of certified organic hemp seeds pose challenges to the growth of the Hemp-based Foods Market.
The COVID-19 pandemic had a positive impact on the Hemp-based Foods Market. The increased demand for plant-based food products during the pandemic, coupled with the rising awareness of the health benefits of hemp-based foods, contributed to the market's growth.
The growing popularity of functional foods and the increasing demand for sustainable and eco-friendly food products are key trends shaping the Hemp-based food market.
The expansion of the food service industry and the growing demand for hemp-based food products in developing countries present significant growth opportunities for the Hemp-based Foods Market.
Key strategies adopted by players in the Hemp-based Foods Market include product innovation, strategic partnerships, and mergers and acquisitions to expand their market presence and cater to the evolving consumer demand.
