Global Hemp Based Food Market Insights Forecasts to 2033

• The Global Hemp Based Food Market Size was Valued at USD 1.42 Billion in 2023
• The Market Size is Growing at a CAGR of 13.12% from 2023 to 2033
• The Worldwide Hemp Based Food Market Size is Expected to Reach USD 4.87 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Hemp Based Food Market Size is Anticipated to Exceed USD 4.87 Billion by 2033, Growing at a CAGR of 13.12% from 2023 to 2033.

Market Overview

Hemp-based food is made from hemp seeds, which are high in protein, fiber, and healthy fats. These foods, such as hemp seeds, hemp oil, and hemp protein powder, are known for their health benefits, which include improved heart health and digestion. Hemp-based foods are becoming increasingly popular as part of a healthy diet, particularly among those seeking plant-based and natural food options. Hemp contains fiber as well as a variety of vitamins and minerals, including magnesium, vitamin E, zinc, and iron. Consumption of hemp-based food products promotes digestive health, which drives the global hemp-based food market. Hemp-based food products include nut butter, corn chips, and snack bars. This is also boosting the hemp-based food business. The food industry has seen an increase in demand for hemp-based food products, as hemp seeds are high in protein and are increasingly being used in packaged foods such as bread, pretzels, granola bars, and cereals. Increased demand in the food and beverage industry is expected to contribute to the growth and development of hemp-based foods. This is expected to drive growth in the hemp-based food market.

Report Coverage

This research report categorizes the market for the global hemp based food market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global hemp based food market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global hemp based food market.

Driving Factors

Hemp seeds are widely used as supplements and food ingredients.

Hemp seeds are widely used as supplements and food ingredients around the world. Hemp seed contains nonpsychoactive but biologically active cannabinoids, including cannabidiol (CBD), which has potent spasmolytic, anxiolytic, and anticonvulsant effects. CBD dietary supplements make up roughly one-third of the global CBD market. Hemp seed has a nutty flavor and is high in essential fatty acids, vitamins, minerals, fiber, and essential amino acids found in albumin and edestin, two highly absorbable proteins. Hempseed oil contains a high concentration of polyunsaturated fatty acids, which have been shown to have anti-inflammatory, cancer-fighting, and cardiovascular benefits.

Restraining Factors

Manufacturing Obstacles

The antioxidant properties of hemp polyphenols currently prevent their absorption in the gut. Also, there is a shortage of processing and planting facilities and a lack of harvesting equipment.

Market Segmentation

The global hemp based food market share is classified into product and distribution channel.

• The hemp seeds segment is expected to hold the largest share of the global hemp based food market during the forecast period.   

Based on the product, the global hemp based food market is categorized into hemp protein powder, hemp seed oil, hemp seeds, and others. Among these, the hemp seeds segment is expected to hold the largest share of the global hemp based food market during the forecast period. Hemp seeds contain essential nutrients such as fatty acids, protein, and fiber. Also, the balanced ratio of omega-3 and omega-6 promotes overall health. Hemp seeds are very easy to use in a variety of recipes. They appeal to a broader range of consumers because they can be consumed raw, cooked, or roasted. They have a longer shelf life than other hemp-based food products, such as hemp milk or oil. Additionally, hemp seeds are relatively easy to cultivate and harvest compared to other parts of the hemp plant, so they are a cost-effective option for farmers.

• The supermarkets and hypermarkets segment is expected to grow at the fastest CAGR during the forecast period.   

Based on the distribution channel, the global hemp based food market is categorized into supermarkets and hypermarkets, convenience stores, online stores, and others. Among these, the supermarkets and hypermarkets segment is expected to grow at the fastest CAGR during the forecast period. Supermarkets and hypermarkets are widely popular shopping destinations that prominently display hemp-based food products. These retailers use a wide range of marketing and promotional strategies, including loyalty programs, bundled offers, and discounts. Also, they make hemp-derived food products more accessible to a wider range of consumers. Supermarkets and hypermarkets offer a one-stop shopping experience, it allows customers to buy other grocery items in addition to hemp-based foods. These supermarkets & hypermarket stores also sell a variety of hemp-based products, such as oils, seeds, and ready-to-eat (RTE) snacks.

Regional Segment Analysis of the Global Hemp Based Food Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is projected to hold the largest share of the global hemp based food market over the forecast period.

North America is projected to hold the largest share of the global hemp based food market over the forecast period. The presence of a strong supply chain for sourcing, manufacturing, and distributing hemp-based food items in North America is driving market growth. This streamlines market operations and reduces disruption. Also, hemp-based food products are widely available in offline retail channels throughout the region. This retail presence makes the products more accessible to consumers. Aside from that, increasing health consciousness among North American consumers is driving demand for all-natural, nutrient-dense foods. Additionally, North America, particularly the United States, has a well-established regulatory environment for hemp cultivation and product development, making the landscape more secure for investors and manufacturers and increasing the value of the hemp-based food market.

Asia Pacific is expected to grow at the fastest CAGR growth of the global hemp based food market during the forecast period. Growing preference for hemp-based foods, owing to their gluten-free status and other health benefits. This trend is especially strong in China and India, where Western dietary habits are becoming more widely accepted. As more people become aware of the nutritional benefits of hemp-based products, such as their high protein and healthy fat content while being gluten-free, they are becoming increasingly popular. The desire to adopt Western food trends, combined with a focus on healthier eating, is driving demand for hemp-based foods in the Asia Pacific region.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global hemp based food market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Hempfoods Ltd.
• Tilray, Inc.
• GFR Ingredients
• Hemp Foods Australia Pty Ltd
• Aurora Cannabis Inc.
• Naturally Splendid Enterprises Ltd.
• Isodiol International Inc
• Navitas LLC
• Nutiva
• T12 Holdings Pty Ltd.
• Agropro
• Compass Diversified
• Canopy Growth Corporation
• Hempco Inc. 
• Cool Hemp 
• Others

Key Market Developments

• In March 2024, Manitoba Harvest, a subsidiary of Tilray Brands Inc., unveiled its new hemp-based food product at Natural Products Expo West. The company's new Superseed Oatmeal and Bioactive Fiber products promote gut health, potentially allowing the organization to gain a foothold in the Hemp-Based Food market.

• In February 2023, Hemp Foods Australia, a subsidiary of Elixinol Wellness and Australia's leading hemp food company, has announced a new nationwide distribution agreement with Woolworths, Australia's largest supermarket chain. According to the agreement, the company's certified organic hemp gold seed oil will be available in 948 Woolworths stores across the country, up from 100.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global hemp based food market based on the below-mentioned segments: 

Global Hemp Based Food Market, By Product

• Hemp Protein Powder
• Hemp Seed Oil
• Hemp Seeds
• Others

Global Hemp Based Food Market, By Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Stores
• Others

Global Hemp Based Food Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa