About Hemp-Based Food
Hemp seeds are rich in protein, vitamins, and minerals and are an excellent source of fiber. Hempseeds are the only eatable seeds with gamma-linolenic acid. This is because hempseed is made up of the ultimate balance of all eight essential fatty acids, including a near perfect balance of omega-3 to omega-6 and is filled with protein and is gluten, wheat and soy free. Hemp-based food items are rich with amino acids which made these products an ideal choice for health-conscious and vegan consumers.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 13.22% |
The global hemp-based food market is enormously competitive with the existence of a large number of large-scale and small-scale vendors who compete with each other in terms of product differentiation, quality, price, innovation and brand promotion. The companies are exploring the market in new regions by adopting mergers & acquisitions, expansions, investments and collaborations as their key strategies. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Hemp-Based Food market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Hempro International GmbH & Co. KG (Germany), Manitoba Harvest Fresh Hemp Foods Ltd (Canada), Canah International (Romania), Wholebake Ltd (United Kingdom), Hanf & Natur Ralf Buck (Germany), Braham & Murray, Ltd. (United Kingdom), Jinzhou Qiaopai Biotech (China), Naturally Splendid (Canada), Navitas Organics (United States) and Mettrum Originals (Canada) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Hemp Foods Australia (Australia), Elixinol (United States), GFR Ingredients Inc. (Canada), Hemp Oil Canada (Canada) and Yunnan Hanpu Health Products Co., Ltd. (China).
Segmentation Overview
AMA Research has segmented the market of Global Hemp-Based Food market by Type (Whole Hemp Seed, Hulled Hemp Seed, Hemp Seed Oil, Hemp Protein Powder and Others [Infusion Drinks, Hemp Milk]) and Region.
On the basis of geography, the market of Hemp-Based Food has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channels, the sub-segment i.e. Online will boost the Hemp-Based Food market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Health Awareness and Harmful Effects of Ingredients Used in Food and Rising Consumer Preference for Healthy Food Products Free of Allergens
Market Growth Drivers:
Hemp Seeds could be easily added to Baking Goods, Salad and Soups, Increasing Demand for Vegan food and Increasing Demand for Organic Hemp-Based Foods
Challenges:
Lack of Harvesting Innovations and Processing Facilities and Strict Government Regulations in Some Countries
Restraints:
Availability of Low Yield
Opportunities:
Growing Demand of Hemp Based Food in Emerging Economies
Market Leaders and their expansionary development strategies
In August 2023, Planet Based Foods Global Inc. announce that it has closed the first tranche of its previously announced non-brokered private placement of 274 convertible debenture units (the "Units") at a price of USD1,000 per Unit for gross aggregate proceeds of up to CAD USD 274,000 (the "First Tranche Closing"). The Company anticipates completing a second tranche of the Private Placement within approximately two weeks.
On July 11th 2023: Proudly crafted in Bangalore, India Hemp and Co. has become Asia's pioneer in hemp-based food products. Now, they are revolutionizing the market yet again by launching the first hemp-based kombucha in India.
Fresh Hemp Foods has determined that the intended use of Hemp Protein Powder and Hemp Protein Concentrate (“Hemp Protein Powder”) derived from whole hemp seeds and/or portion of hemp seeds is Generally Recognized as Safe (GRAS), based on section 201(s) of the Food Drug and Cosmetic Act and provisions of the related regulations (Subpart E of Part 170).
Key Target Audience
Manufacturers of Hemp-Based Food, Suppliers of Hemp-Based Food, Wholesalers, Distributers and Retailers of Hemp-Based Food, Research Firms, Food and Beverages Industry and Governmental Bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.