This market research report segments the global hemp-based foods market into the following product type (hemp seed-based foods, hemp protein-based foods, and hemp oil-based foods) and key regions (the Americas, APAC, and EMEA).
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers
In this report, Technavio analysts highlight the growing vegan population and cases of celiac disease as a key factor contributing to the growth of the global hemp-based foods market:
Growing vegan population and cases of celiac disease
Vegan lifestyle strongly supports animal rights and environment-friendly lifestyle choices. A vegan diet consists of fruits, vegetables, whole grains, legumes, nuts, and seeds as substitutes for meat, dairy, and other traditional sources of protein. In countries such as the US, approximately 2.5% of the population follow vegan diet and lifestyle. This number is expected to grow during the forecast period which will foster the demand for hemp-based foods such as hemp seeds. Hemp seeds are good sources of protein. Several players in the market are adding vegan labels on the packaging of the hemp products to attract the vegan consumer base. It is projected that with the rise in the vegan population, the demand for hemp seeds and hemp proteins will also increase during the forecast period.
According to a senior analyst at Technavio for food, “It is estimated that more than 75% of Americans suffer from celiac disease and most of the cases are still undiagnosed. Presently, there is no medication available to cure this disease and the only way to avoid it is to switch to gluten-free diet. The increase in the number of digestive health problems, weight management issues, and demand for nutritious food is also encouraging the demand for gluten-free food items. Hemp is a natural, gluten-free substance, and this is driving the demand for hemp-based food ingredients such as hemp seed, oil, and proteins in the packaged food and beverage, at a high rate. It is expected that with the rise in the cases of celiac disease, the demand for hemp seeds and hemp oil will further increase.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global hemp-based foods market segmentation
Of the three major product types, the hemp seed-based foods segment held the largest market share in 2017, accounting for nearly 81% of the market. The market share for this product type is expected to increase nearly 1% by 2022.
The Americas was the leading region for the global hemp-based foods market in 2017, accounting for a market share of 57%, followed by EMEA and APAC. By 2022, EMEA is expected to witness a growth of nearly 2%.
Big savings with Technavio this February!
Get 20% OFF on all Education Technology reports. This offer is valid only till the 28th of this month.
Celebrate winter sports with 23% OFF on all reports in the Outdoor Gear library (Offer valid from Feb 9-25).
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 10,000 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.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.