Market Size of Global Hemp Protein Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 15.20 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Hemp Protein Market Analysis
The global hemp protein market is projected to grow at a CAGR of 15.2% during the forecasted period 2019-2024.
- Hemp has many special characteristics that makes it different in the plant industry. One of them is,Its DNA structure is closely aligned with human DNA and hence, as a food source, it nourishes the body in a perfect proportion.
- Hemp is naturally gluten free, non GMO, free of trypsin inhibitors, and virtually free of any form of residual chemicals. Hemp protein is highly nutritious and easily digested.
- Hemp protein is the industrial by- product of hemp seeds.
- The hemp protein in powdered form is having high demand as compared to the liquid form due to increased shelf life, convenience, and other associated factors.
Hemp Protein Industry Segmentation
Global hemp protein market is segmented by source into organic ad conventional;by application into functional food, functional beverage, dietary supplements, pharmaceutical, personal care and other industrial uses.Also, the study provides an analysis of the functional flour market in the emerging and established markets across the globe, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
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| Organic | |
| Conventional |
| By Application | |
| Functional Food | |
| Functional Beverge | |
| Dietary Supplements | |
| Pharmaceuticals | |
| Personal Care | |
| Other Industrial uses |
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Global Hemp Protein Market Size Summary
The hemp protein market is experiencing significant growth, driven by its unique nutritional profile and the rising trend of plant-based diets. Hemp protein, derived from hemp seeds, is highly nutritious, gluten-free, non-GMO, and easily digestible, making it an attractive alternative to animal-based proteins. The increasing awareness of the health benefits associated with plant-based proteins, such as reducing the risk of cardiovascular diseases and cancer, along with their immune-boosting and weight-suppressing properties, is contributing to the market's expansion. The demand for powdered hemp protein is particularly high due to its extended shelf life and convenience. The market is further bolstered by the growing veganism trend and the shift towards minimally processed, chemical-free food consumption.
In North America, the United States leads the hemp protein market, supported by regulatory advancements like the US Farm Bill, which has facilitated hemp cultivation. However, production remains restricted due to its association with marijuana, necessitating federal approval. The fragmented global market sees various players capitalizing on opportunities in emerging economies such as India and China. Companies are increasingly integrating hemp protein into a diverse range of products, including nutrition bars, tortilla chips, pretzels, and beer, to expand their market presence. Key players in the industry include North American Hemp & Grain Co. Ltd, Aurora Cannabis (Hempco Food and Fiber Inc.), Navitas LLC, and Hemp Oil Canada Inc.
Global Hemp Protein Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Source
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2.1.1 Organic
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2.1.2 Conventional
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2.2 By Application
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2.2.1 Functional Food
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2.2.2 Functional Beverge
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2.2.3 Dietary Supplements
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2.2.4 Pharmaceuticals
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2.2.5 Personal Care
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2.2.6 Other Industrial uses
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 Germany
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2.3.2.3 France
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2.3.2.4 Russia
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2.3.2.5 Italy
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2.3.2.6 Spain
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 India
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2.3.3.2 China
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2.3.3.3 Japan
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East & Africa
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2.3.5.1 South Africa
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2.3.5.2 Saudi Arabia
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2.3.5.3 Rest of MEA
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Global Hemp Protein Market Size FAQs
What is the current Global Hemp Protein Market size?
The Global Hemp Protein Market is projected to register a CAGR of 15.20% during the forecast period (2024-2029)
Who are the key players in Global Hemp Protein Market?
North American Hemp & Grain Co. Ltd, Aurora Cannabis (Hempco Food and Fiber Inc.), Navitas LLC and Hemp Oil Canada Inc are the major companies operating in the Global Hemp Protein Market.
