LONDON--(BUSINESS WIRE)--According to the latest market research report released by Technavio, the global hemp-based foods market is expected to accelerate at a CAGR of over 24% during the forecast period. The growing vegan population and increasing cases of celiac disease are key factors triggering the growth of the market.
This research report titled ‘Global Hemp-based Foods Market 2018-2022’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global hemp-based foods market into the following products:
- Hemp seed-based foods
- Hemp protein-based foods
- Hemp oil-based foods
In 2017, the hemp seed-based foods segment accounted for 80.62% of the global market and is projected to reach 81.08% by 2022, exhibiting almost 0.46% increase in market share.
Global hemp-based foods market: Top emerging trend
The growing demand for organic hemp-based foods is an emerging trend in the food industry. The demand for organic food products is increasing at a fast pace. However, organic food products are usually priced higher than conventional ingredients. The premium price is due to the comparatively higher production costs as well as consumers’ willingness to pay extra for the organic food products. With growing health awareness about the harmful effects of ingredients used in the food and beverage industry, the demand for organic food products is increasing. This trend is even applicable to hemp-based food products, and currently, many players are selling organic hemp food products to cater to this consumer base.
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Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Technavio’s report provides expert market research on the following topics:
- Market Outline
- Global Hemp-based Foods Market Overview
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (APAC, Americas, EMEA)
- Key leading countries
- Market segmentation by product (hemp seed-based foods, hemp protein-based foods, hemp oil-based foods)
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (Compass Diversified Holdings, Hempco, Hemp Foods Australia, Canopy Growth, Naturally Splendid Enterprises, Nutiva)
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