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U.S. Hemp protein market by Form (Powder, Liquid), by Application (Dietary Supplements, Food & beverage products, Cosmetic products) and Geography - Forecast to 2023

10-29-2020 08:18 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: i2i Research LLP

U.S. Hemp protein market by Form (Powder, Liquid),

The market in U.S. for Hemp protein was valued at USD 207.2 Million in 2018 and is expected to reach USD 434.3 Million by 2023, growing at a CAGR of 16.0% during the forecast period. The market for powder form is expected to be the largest during the forecast period, however the market for hemp protein in liquid form is expected to grow the fastest during the forecast period. Increase in health concerns such as obesity is driving the need for the hemp protein market in the U.S.
Based on form, the powder segment accounted for 66.7% share of the hemp protein market. It is expected to grow at a CAGR of 15.4% over the forecast period. The increasing adoption of hemp-based food products and dietary supplements is expected to drive the growth of the powder segment of the market. Based on application, the dietary supplements segment accounted for 48.9% of the share, and is expected to grow at a CAGR of 16.2% over the forecast period. Due to its high fiber content, the demand for hemp protein in dietary supplements has increased significantly. The growing health-conscious population in the US is accelerating the usage of hemp protein over the forecast period.

Recent key developments in the industry
1. In April 2019, Tilray acquired Manitoba Harvest for approximately US$ 316 Mn. This acquisition allowed Tilray to make use of Manitoba’s extensive distribution network in the U.S., thereby gaining access in the country.

2. In April 2019, Evo Hemp partnered with Honeydrop and Bayside Distributing LLC for the distribution of its hemp seeds

3. In October 2018, Victory Hemp Foods purchased a facility from the Full Sun Company. The purchase allowed the company to expand its production capacity to 8,000 gallons per month. The resulting byproduct turned into approximately 50,000 pounds of hemp protein powder, which is used in several end-products.
Report Link
For more details on “U.S. Hemp protein” Market Report:
https://i2iresearch.com/report/hemp-protein-market-report-u-s-regional-industry-forecast-2019-2026/

What this report Offers

This report covers an in-depth analysis of the U.S. Hemp protein market including statistical and qualitative data points with emphasis on the market dynamics including the drivers, opportunities & restraints.
There is a coverage of market dynamics at country level in the respective regional segments. The report comprises competitive analysis with focus on key players and participants of U.S. Hemp protein market covering in-depth data related to competitive landscape, positioning, company profiles, key strategies adopted and product-profiling with focus on market growth and potential.

To avail a copy of the sample of the U.S. Hemp protein Market Report:
https://i2iresearch.com/report/hemp-protein-market-report-u-s-regional-industry-forecast-2019-2026/

Key Segmentations in this report
1. U.S. Hemp Protein Market, by Form
‒ Powder
‒ Liquid
2. U.S. Hemp Protein Market, by Application
‒ Dietary Supplements
‒ Food & beverage products
‒ Cosmetic products
For a detailed table of content of the U.S. Hemp protein Market Report:
https://i2iresearch.com/report/hemp-protein-market-report-u-s-regional-industry-forecast-2019-2026/

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