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Hemp-Based Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

March 2023 | 142 pages | ID: H79EC33F75C2EN
IMARC Group

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Market Overview:

The global hemp-based food market size reached US$ 1.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.1 Billion by 2028, exhibiting a growth rate (CAGR) of 15.1% during 2023-2028.

Hemp-based food is rich in omega-3 fatty acids, vitamins, minerals, zinc, folate, calcium, iron, magnesium, potassium, fiber, and other essential nutrients. Its consumption assists in promoting joint health, improving heart health, balancing insulin levels, reducing stress and anxiety, and minimizing the risk of developing chronic ailments. At present, due to the rising adoptionof veganism, hemp-based food products are gaining traction among the masses around the world.

Hemp-Based Food Market Trends:

Hemp-based food products are used in the preparation of commercial food dishes, including burgers, tea, coffee, shakes, sauces, dips, cake, salads, bread, pasta, muffins, and ice cream. This, in confluence with the thriving food and beverage (F&B) industry, represents one of the major factors bolstering the market growth. It can also be attributed to the increasing awareness among individuals about the health benefits of consuming hemp-based food products and the rising health consciousness among the masses. In addition, the escalating demand for premium and healthy alcoholic beverages on account of the emerging trend of socializing and parties among working professionals and young adults are contributing to the market growth. Apart from this, shifting consumer preferences for convenient, packaged hemp-based snacking options, such as chips, energy bars, flavored water, granola bars, and biscuits, is propelling the market growth. Furthermore, key players are focusing on providing hemp-based food products and bakery products through online shopping apps. This, in confluence with the thriving e-commerce industry, is offering lucrative growth opportunities to industry investors.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global hemp-based food market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product and distribution channel.

Breakup by Product:

Hemp Protein Powder
Hemp Seed Oil
Hemp Seeds
Others

Hemp seeds dominate the market as they aid in improving heart health by reducing cholesterol, blood pressure, and triglycerides.

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Convenience Stores
Online Stores
Others

Supermarkets and hypermarkets hold most of the total market share as they have a wider collection of products.

Breakup by Region:

North America

United States
Canada

Asia Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

North America holds the majority of the global hemp-based food market share due to the increasing awareness among individuals about the health benefits of consuming hemp-based food products in the region.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Hempfoods Ltd., Tilray, Inc., GFR Ingredients, Hemp Foods Australia Pty Ltd, Aurora Cannabis Inc., Naturally Splendid Enterprises Ltd., Isodiol International Inc, Navitas LLC, Nutiva, and T12 Holdings Pty Ltd.

Key Questions Answered in This Report:

What was the size of the global hemp-based food market in 2022?
What is the expected growth rate of the global hemp-based food market during 2023-2028?
What are the key factors driving the global hemp-based food market?
What has been the impact of COVID-19 on the global hemp-based food market?
What is the breakup of the global hemp-based food market based on the product?
What is the breakup of the global hemp-based food market based on the distribution channel?
What are the key regions in the global hemp-based food market?
Who are the key players/companies in the global hemp-based food market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL HEMP-BASED FOOD MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY PRODUCT

6.1 Hemp Protein Powder
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Hemp Seed Oil
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 Hemp Seeds
  6.3.1 Market Trends
  6.3.2 Market Forecast
6.4 Others
  6.4.1 Market Trends
  6.4.2 Market Forecast

7 MARKET BREAKUP BY DISTRIBUTION CHANNEL

7.1 Supermarkets and Hypermarkets
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Convenience Stores
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 Online Stores
  7.3.1 Market Trends
  7.3.2 Market Forecast
7.4 Others
  7.4.1 Market Trends
  7.4.2 Market Forecast

8 MARKET BREAKUP BY REGION

8.1 North America
  8.1.1 United States
    8.1.1.1 Market Trends
    8.1.1.2 Market Forecast
  8.1.2 Canada
    8.1.2.1 Market Trends
    8.1.2.2 Market Forecast
8.2 Asia Pacific
  8.2.1 China
    8.2.1.1 Market Trends
    8.2.1.2 Market Forecast
  8.2.2 Japan
    8.2.2.1 Market Trends
    8.2.2.2 Market Forecast
  8.2.3 India
    8.2.3.1 Market Trends
    8.2.3.2 Market Forecast
  8.2.4 South Korea
    8.2.4.1 Market Trends
    8.2.4.2 Market Forecast
  8.2.5 Australia
    8.2.5.1 Market Trends
    8.2.5.2 Market Forecast
  8.2.6 Indonesia
    8.2.6.1 Market Trends
    8.2.6.2 Market Forecast
  8.2.7 Others
    8.2.7.1 Market Trends
    8.2.7.2 Market Forecast
8.3 Europe
  8.3.1 Germany
    8.3.1.1 Market Trends
    8.3.1.2 Market Forecast
  8.3.2 France
    8.3.2.1 Market Trends
    8.3.2.2 Market Forecast
  8.3.3 United Kingdom
    8.3.3.1 Market Trends
    8.3.3.2 Market Forecast
  8.3.4 Italy
    8.3.4.1 Market Trends
    8.3.4.2 Market Forecast
  8.3.5 Spain
    8.3.5.1 Market Trends
    8.3.5.2 Market Forecast
  8.3.6 Russia
    8.3.6.1 Market Trends
    8.3.6.2 Market Forecast
  8.3.7 Others
    8.3.7.1 Market Trends
    8.3.7.2 Market Forecast
8.4 Latin America
  8.4.1 Brazil
    8.4.1.1 Market Trends
    8.4.1.2 Market Forecast
  8.4.2 Mexico
    8.4.2.1 Market Trends
    8.4.2.2 Market Forecast
  8.4.3 Others
    8.4.3.1 Market Trends
    8.4.3.2 Market Forecast
8.5 Middle East and Africa
  8.5.1 Market Trends
  8.5.2 Market Breakup by Country
  8.5.3 Market Forecast

9 SWOT ANALYSIS

9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats

10 VALUE CHAIN ANALYSIS

11 PORTERS FIVE FORCES ANALYSIS

11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes

12 PRICE ANALYSIS

13 COMPETITIVE LANDSCAPE

13.1 Market Structure
13.2 Key Players
13.3 Profiles of Key Players
  13.3.1 Hempfoods Ltd.
    13.3.1.1 Company Overview
    13.3.1.2 Product Portfolio
  13.3.2 Tilray, Inc.
    13.3.2.1 Company Overview
    13.3.2.2 Product Portfolio
  13.3.3 GFR Ingredients
    13.3.3.1 Company Overview
    13.3.3.2 Product Portfolio
  13.3.4 Hemp Foods Australia Pty Ltd
    13.3.4.1 Company Overview
    13.3.4.2 Product Portfolio
  13.3.5 Aurora Cannabis Inc.
    13.3.5.1 Company Overview
    13.3.5.2 Product Portfolio
  13.3.6 Naturally Splendid Enterprises Ltd.
    13.3.6.1 Company Overview
    13.3.6.2 Product Portfolio
    13.3.6.3 Financials
  13.3.7 Isodiol International Inc
    13.3.7.1 Company Overview
    13.3.7.2 Product Portfolio
    13.3.7.3 Financials
  13.3.8 Navitas LLC
    13.3.8.1 Company Overview
    13.3.8.2 Product Portfolio
  13.3.9 Nutiva
    13.3.9.1 Company Overview
    13.3.9.2 Product Portfolio
  13.3.10 T12 Holdings Pty Ltd.
    13.3.10.1 Company Overview
    13.3.10.2 Product Portfolio

LIST OF TABLES

Table 1: Global: Hemp-Based Food Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Hemp-Based Food Market Forecast: Breakup by Product (in Million US$), 2023-2028
Table 3: Global: Hemp-Based Food Market Forecast: Breakup by Distribution Channel (in Million US$), 2023-2028
Table 4: Global: Hemp-Based Food Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 5: Global: Hemp-Based Food Market Structure
Table 6: Global: Hemp-Based Food Market: Key Players


LIST OF FIGURES

Figure 1: Global: Hemp-Based Food Market: Major Drivers and Challenges
Figure 2: Global: Hemp-Based Food Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Hemp-Based Food Market: Breakup by Product (in %), 2022
Figure 4: Global: Hemp-Based Food Market: Breakup by Distribution Channel (in %), 2022
Figure 5: Global: Hemp-Based Food Market: Breakup by Region (in %), 2022
Figure 6: Global: Hemp-Based Food Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 7: Global: Hemp-Based Food (Hemp Protein Powder) Market: Sales Value (in Million US$), 2017 & 2022
Figure 8: Global: Hemp-Based Food (Hemp Protein Powder) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 9: Global: Hemp-Based Food (Hemp Seed Oil) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Hemp-Based Food (Hemp Seed Oil) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Hemp-Based Food (Hemp Seeds) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Hemp-Based Food (Hemp Seeds) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Hemp-Based Food (Other Products) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Hemp-Based Food (Other Products) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Hemp-Based Food (Supermarkets and Hypermarkets) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Hemp-Based Food (Supermarkets and Hypermarkets) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Hemp-Based Food (Convenience Stores) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Hemp-Based Food (Convenience Stores) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Hemp-Based Food (Online Stores) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Hemp-Based Food (Online Stores) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Hemp-Based Food (Other Distribution Channels) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Hemp-Based Food (Other Distribution Channels) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: North America: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: North America: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: United States: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: United States: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Canada: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Canada: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Asia Pacific: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Asia Pacific: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: China: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: China: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Japan: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Japan: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: India: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: India: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: South Korea: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: South Korea: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Australia: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Australia: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Indonesia: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Indonesia: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: Others: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: Others: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: Europe: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: Europe: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Germany: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Germany: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: France: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: France: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: United Kingdom: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: United Kingdom: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: Italy: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: Italy: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: Spain: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: Spain: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Russia: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Russia: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Others: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Others: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Latin America: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Latin America: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Brazil: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Brazil: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Mexico: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Mexico: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Others: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Others: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Middle East and Africa: Hemp-Based Food Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Middle East and Africa: Hemp-Based Food Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Global: Hemp-Based Food Industry: SWOT Analysis
Figure 72: Global: Hemp-Based Food Industry: Value Chain Analysis
Figure 73: Global: Hemp-Based Food Industry: Porter’s Five Forces Analysis


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