Hemp Protein Market Size, Share, Growth Insights and Report 2024-2031 | Herbalife International, GNC Holdings, Amway, Glanbia

Hemp Protein Market Research Report By DataM Intelligence: A comprehensive analysis of current and emerging trends provides clarity on the dynamics of the Hemp Protein market. The report employs Porter's Five Forces model to assess key factors such as the influence of suppliers and customers, risks posed by different entities, competitive intensity, and the potential of emerging entrepreneurs, offering valuable insights. Additionally, the report presents research data from various companies, including their benefits, gross margins, and strategic decisions in the global market, all conveyed through tables, charts, and infographics.

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What is the projected growth rate (CAGR) of the Global Hemp Protein market from 2024 to 2031, and what is the market value expected to change by 2031?

Hemp Protein Market is expected to grow at a CAGR of 14.1% during the forecast period 2024-2031

What is Hemp Protein Market?

Hemp protein is a high-quality plant-based protein derived from hemp seeds, which are the seeds of the hemp plant. It is rich in essential amino acids, making it a complete protein source suitable for vegetarians and vegans. Additionally, hemp protein contains beneficial nutrients such as fiber, omega-3 and omega-6 fatty acids, vitamins, and minerals. Its easily digestible nature and nutty flavor make it a popular ingredient in smoothies, protein bars, and various health foods, contributing to muscle repair, overall nutrition, and a balanced diet.

Growth Driver

Increasing Demand for Plant-Based Protein Drives Market Growth

The rising awareness of the health benefits associated with vegan diets is fueling consumer interest in plant-based proteins. As dietary choices become more conscious, the demand for hemp protein is expected to surge. Hemp protein contains essential amino acids vital for human health, making it an appealing option for health-conscious consumers seeking a balanced protein source.

The focus on health and wellness, alongside a preference for nutritious and sustainable food options, is propelling the plant-based protein market, particularly hemp protein. Consumers are increasingly opting for protein-rich, plant-based alternatives to traditional animal-derived products, contributing to the growth of the hemp protein market.

In response to this trend, manufacturers are innovating to meet market demands. For example, on February 17, 2022, Vejii Holdings Ltd. launched a range of innovative hemp protein products from Planet Based Foods on its US platform. This new product line includes items such as the HEMP Burger, HEMP Crumble, and HEMP Sausage Patty, further expanding the options available to consumers looking for plant-based protein sources.

Key Players:

Profiles of some of the major players in the global Hemp Protein market, which include: Herbalife International, GNC Holdings, Amway, Glanbia, Bayer, Abbott Laboratories, NutraClick, Nature's Sunshine Forms, Bionova Lifesciences, and PowerBar Europe GmbH.

Industry Development:

On June 20, 2022, Applied Food Sciences, a Texas-based company, introduced a new hemp seed protein ingredient known as PurHP-75. This organic ingredient is derived from hemp hearts and boasts an impressive protein content of 75%, encompassing all nine essential amino acids. Innovatively, AFS has addressed the challenge of bitter taste and gritty texture often associated with traditional hemp ingredients.

In March 2020, a significant partnership was established between Victory Hemp Foods in Kentucky's Louisville and Applied Food Sciences (AFS) in Texas, Austin. Their strategic agreement aimed to substantially expand the application of hemp grains as a versatile ingredient across a wide range of products. AFS is renowned for being a supplier of botanical extracts used in the food, beverage, and supplement industries, and it also serves as a reliable supply partner for various top food and beverage brands.

The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global Hemp Protein market.

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Market Segments:

The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.

By Nature (Organic, Conventional)

By Application (Food and Beverages, Pharmaceuticals, Dietary Supplements, Personal Care, Others)

Regional Break out:

☞ North America - US, Canada, Mexico

☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe

☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific

☞ South America- Brazil, Argentina, Colombia, Rest of South America

☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel

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Key Features

➧ Gain deep insights into market dynamics, trends, and opportunities to stay ahead in a competitive landscape.

➧ Track competitor's movements in real time, allowing you to swiftly adapt strategies and remain competitive.

➧ Compare your performance with industry leaders to identify gaps, strengths, and areas for improvement.

➧ Stay updated with emerging market trends, technological advancements, and customer behaviour to refine your strategy.

➧ Receive actionable insights and recommendations to drive your business toward growth and long-term success.

➧ Tailor competitive intelligence to your unique business needs, ensuring relevant and focused analysis.

➧ Evaluate supply chain efficiency and logistics strategies to optimize operations and minimize disruptions.

➧ Understand key players, stakeholders, and partnerships to navigate the competitive landscape more effectively.

➧ Identify and target specific market segments with detailed intelligence on customer preferences and behaviours.

➧ Stay informed on regulatory changes and legal requirements impacting your industry to ensure compliance and mitigate risks.

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