Hemp-based Foods Market Size to Grow by USD 3.54 Bn, Hemp Seed-based Foods to be Key Revenue-generating Product Segment – Technavio – PR Newswire

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).

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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.

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Geographical Market Analysis

APACwill 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:

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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

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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.

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Product

6 Customer Landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

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.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email:[emailprotected]Website:www.technavio.com/

SOURCE Technavio

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Hemp-based Foods Market Size to Grow by USD 3.54 Bn, Hemp Seed-based Foods to be Key Revenue-generating Product Segment - Technavio - PR Newswire