Hemp-based Foods Market Size to Grow by USD 3.54 Bn, Hemp Seed-based Foods to be Key Revenue-generating Product Segment - Technavio
NEW YORK, Sept. 30, 2022 /PRNewswire/ -- According to the report "Hemp-based Foods Market by Product and Geography - Forecast and Analysis 2022-2026", the market will witness a YOY growth of 10.6% in 2022 and a CAGR of 11.55% during the forecast period. The market has been segmented by product (hemp seed-based foods, hemp oil-based foods, and hemp oil-based foods) and geography (North America, Europe, APAC, South America, and the Middle East and Africa).
Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The FREE sample report is available in PDF format
Key Segment Analysis
By product, the hemp seed-based foods segment will be the largest contributor to market growth during the forecast period. Hemp seeds are a blend of protein and essential fats. Hence, they are ideal for vegans and vegetarians. These seeds are often eaten raw or added to cereals, smoothies, and other recipes.
To learn about additional highlights and key points on various market segments and their impact in coming years, View our FREE PDF Sample Report
Geographical Market Analysis
APAC will provide maximum growth opportunities in the hemp-based foods market during the forecast period. According to our research, the region will contribute 34% of the global market during the forecast period. China and Australia are the two major markets for hemp-based foods in the region. The growth of this region is attributed to factors such as rapid urbanization.
Vendor Insights
The hemp-based foods market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market vendors, including:
Aurora Cannabis Inc.
Bombay Hemp Co. Pvt. Ltd.
Boring Hemp Co.
CANAH INTERNATIONAL Srl
Cann Global Ltd.
Canopy Growth Corp.
GFR Ingredients Ltd.
Hemp Juice Company BV
HempFlax Group BV
Hudson River Foods
Isodiol International Inc.
Liaoning Qiaopai Biotech Co. Ltd.
Naturally Hemps LLC
Navitas LLC
North American Hemp and Grain Co.
Nutiva Inc.
Parkland Industrial Hemp Growers Co op. Ltd.
The Hemp Corp. Pty Ltd.
Tilray Inc.
Yunnan Hua Fang Industrial Hemp Co. Ltd.
View our FREE PDF Sample Report to find additional highlights on the growth strategies adopted by vendors and their product offerings
Key Market Drivers and Challenges
The growing vegan population and cases of celiac disease are driving the hemp-based foods market growth. Hemp seeds are good sources of protein. Several manufacturers are adding vegan labels on the packaging of hemp products to cater to the vegan consumer base. The prevalence of the celiac disease is rising across the world. Gluten-free food products such as hemp can help avoid this disease. Hence, the demand for hemp-based food ingredients is growing significantly.
The impact of natural disasters and adverse weather conditions is challenging the hemp-based foods market growth. Uncertain weather conditions can negatively impact the production of crops. Natural disasters such as earthquakes, floods, and droughts can also affect hemp plantations. These factors are challenging the growth of the market during the forecast period.
Technavio has identified key trends, drivers, and challenges in the market, which will help vendors improve their strategies to stay ahead of their competitors. View our FREE PDF Sample Report
Customize Your Report
Don't miss out on the opportunity to speak to our analyst and find more insights about this market report. Technavio can also help you customize this report according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.
Related Reports
CBD Oil Market by Product and Geography - Forecast and Analysis 2022-2026: The CBD oil market share is expected to increase by USD 3.97 billion from 2020 to 2025.
Protein Ingredients Market by Source and Geography - Forecast and Analysis 2022-2026: The protein ingredients market share is expected to increase by USD 25.76 billion from 2021 to 2026.
Hemp-based Foods Market Scope
Report Coverage
Details
Page number
120
Base year
2021
Forecast period
2022-2026
Growth momentum & CAGR
Accelerate at a CAGR of 11.55%
Market growth 2022-2026
USD 3.54 billion
Market structure
Fragmented
YoY growth (%)
10.6
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
APAC at 34%
Key consumer countries
US, Canada, China, Australia, Germany, and France
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Key companies profiled
Aurora Cannabis Inc., Bombay Hemp Co. Pvt. Ltd., Boring Hemp Co., CANAH INTERNATIONAL Srl, Cann Global Ltd., Canopy Growth Corp., GFR Ingredients Ltd., Hemp Juice Company BV, HempFlax Group BV, Hudson River Foods, Isodiol International Inc., Liaoning Qiaopai Biotech Co. Ltd., Naturally Hemps LLC, Navitas LLC, North American Hemp and Grain Co., Nutiva Inc., Parkland Industrial Hemp Growers Co op. Ltd., The Hemp Corp. Pty Ltd., Tilray Inc., and Yunnan Hua Fang Industrial Hemp Co. Ltd.
Market dynamics
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Exhibit 108: CANAH INTERNATIONAL Srl - Product / Service
Exhibit 109: CANAH INTERNATIONAL Srl - Key offerings
10.7 Canopy Growth Corp.
Exhibit 110: Canopy Growth Corp. - Overview
Exhibit 111: Canopy Growth Corp. - Business segments
Exhibit 112: Canopy Growth Corp. - Key news
Exhibit 113: Canopy Growth Corp. - Key offerings
Exhibit 114: Canopy Growth Corp. - Segment focus
10.8 Hemp Juice Company BV
Exhibit 115: Hemp Juice Company BV - Overview
Exhibit 116: Hemp Juice Company BV - Product / Service
Exhibit 117: Hemp Juice Company BV - Key offerings
10.9 HempFlax Group BV
Exhibit 118: HempFlax Group BV - Overview
Exhibit 119: HempFlax Group BV - Product / Service
Exhibit 120: HempFlax Group BV - Key offerings
10.10 Hudson River Foods
Exhibit 121: Hudson River Foods - Overview
Exhibit 122: Hudson River Foods - Product / Service
Exhibit 123: Hudson River Foods - Key offerings
10.11 North American Hemp and Grain Co.
Exhibit 124: North American Hemp and Grain Co. - Overview
Exhibit 125: North American Hemp and Grain Co. - Product / Service
Exhibit 126: North American Hemp and Grain Co. - Key offerings
10.12 Nutiva Inc.
Exhibit 127: Nutiva Inc. - Overview
Exhibit 128: Nutiva Inc. - Product / Service
Exhibit 129: Nutiva Inc. - Key offerings
11 Appendix
11.1 Scope of the report
11.2 Inclusions and exclusions checklist
Exhibit 130: Inclusions checklist
Exhibit 131: Exclusions checklist
11.3 Currency conversion rates for US$
Exhibit 132: Currency conversion rates for US$
11.4 Research methodology
Exhibit 133: Research methodology
Exhibit 134: Validation techniques employed for market sizing
Exhibit 135: Information sources
11.5 List of abbreviations
Exhibit 136: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
The First Bancshares, Inc. ("FBMS" or "the Company") , holding company for The First Bank, (www.thefirstbank.com) reported today financial results for the quarter ended March 31, 2024.
Highlights for the Quarter:
Net income available to common...
Biophytis SA (Euronext Growth Paris:ALBPS), ("Biophytis" or the "Company"), a clinical-stage biotechnology company specializing in thedevelopment oftherapeutics for age-related...
Alamos Gold Inc. ("Alamos" or the "Company") today reported its financial results for the quarter ended March 31, 2024. "We delivered another strong start to the year across a number of fronts, following a record performance in 2023. Costs...
Ball Corporation's board of directors (the "Board") today declared a cash dividend of 20 cents per share, payable June 17, 2024, to shareholders of record as of June 3, 2024. In addition, the board also approved the repurchase by the company of up...
As the final Intergovernmental Negotiating Body (INB) meeting of the World Health Organization (WHO) Pandemic Agreement approaches, the AIDS Healthcare Foundation and the AHF Global Public Health Institute are voicing significant concerns about the...