Sarasota, FL -- (SBWIRE) -- 03/16/2019 -- Global Hemp-based Food Market: Overview
Hemp-based food products have gained immense popularity due to their easy digestibility by dint of being free from gluten, allergens, genetically modified organisms (GMO), lactose, phytoestrogen, and pesticides.
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Global Hemp-based Food Market: Growth Factors
Hemp is a good source of fiber and vitamins &minerals including magnesium, vitamin E, zinc, and iron. Consumption of hemp-based food market products aids the maintenance of a healthy digestive system which further drives the overall hem-based food market growth. Massive application of the product in nut butter, corn chips, and snack bars will proliferate the hemp-based food market growth trends over the forthcoming years.
Apart from this, hemp-based food items are rich with amino acids which made these products an ideal choice for health-conscious and vegan consumers. Hemp-based food is emerging as the ultimate source of protein for vegans due to its better digestibility than that of other plant proteins. Apart from this, hemp seeds could be easily added to baking goods or incorporated into salads or soups. This will further drive the hemp-based food market size over the years to come.
Global Hemp-based Food Market: Segmentation
The global hemp-based food market is divided by ingredients into the product type and application. Based on the product type, the market is sectored into hemp seed oil, hemp protein powder, whole hemp seed, hulled hemp seed, and others. On the basis of application, the hemp-based food market is classified into supermarket stores, convenience stores, hypermarket stores, and others.
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Global Hemp-based Food Market: Regional Analysis
Based on regions, the global hemp-based food market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North American market is anticipated to witness a lucrative growth, owing to massive consumer preference for healthy food products free of allergens in the region. Apart from this, their gluten-free property has propelled several gluten-sensitive consumers to change their inclination toward these products. Additionally, the large presence of players competing against each other in terms of product innovation, price, quality, and brand promotion activities is likely to spur the regional market growth over the years ahead.
The Asia Pacific is a highly attractive market, owing to the adoption of western food habits among the regional population. Massive investments in R& D activities and launching of innovation centers to expand the production capacity of the product in countries such as China will steer the regional market expansion. Latin American market has huge growth prospects with its share likely to rise over the estimated timeline. The European market is likely to witness an escalating surge over the coming decade, subject to humungous demand for the product among its population.
Global Hemp-based Food Market: Competitive Players
Some of the major players operating in hemp-based food market include Agropro, Hempco, Nutiva, Manitoba Harvest, Braham & Murray, Canada Hemp Foods, Braham and Murray, Elixinol, Nutiva, Healthy Brands Collective, Laguna Blends, Hemp Foods Australia, and The Cool Hemp Company. Elixinol, Mettrum Originals, and Jinzhou Qiaopai Biotech.
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Global Hemp-based Food Market: Regional Segment Analysis
The Asia Pacific
The Middle East and Africa