2025 Hemp Based Foods Market Outlook: Key Indicators Shaping Growth Through 2034

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What Will the Hemp Based Foods Industry Market Size Be by 2025?
In the past few years, the market size of hemp-based foods has seen a robust growth. It is anticipated that it will rise from $5.94 billion in 2024 to $6.47 billion in 2025, with a compound annual growth rate (CAGR) of 8.8%. Factors contributing to this growth in the historical period include the legalization of hemp farming and usage in certain areas, surge in consumer demand for natural and plant-based items, increased recognition of the nutritional advantages of hemp, and the expansion of health and wellness trends. Additionally, there has been a rise in the popularity of hemp seeds and oil in culinary uses.

What's the Long-Term Growth Forecast for the Hemp Based Foods Market Size Through 2029?
The market size of foods derived from hemp is anticipated to experience substantial growth in the coming years, reaching an estimate of $9.04 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 8.7%. Factors contributing to this growth during the forecast period include legal approval for foods and ingredients made from hemp, rising market reach in evolving economies, growing customer interest in products that are sustainable and environmentally conscious, broadening uses in functional foods and nutraceuticals, and increasing consumer understanding of the possible health advantages of hemp. Notable trends in the forecast period are technological progression in hemp processing, innovation of hemp-based product recipe (for example, snacks and drinks), hemp products infused with CB*D, alternatives to dairy products based on hemp, and options that are gluten-free and friendly to allergens.

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What Are the Key Growth Drivers Fueling the Hemp Based Foods Market Expansion?
The escalating number of vegans is fuelling the expansion of the hemp-based food industry. Vegans are individuals who strictly avoid all animal-derived products including leather, and food items such as meat, dairy, eggs, and honey. Moreover, they generally avoid products that have undergone animal testing whenever possible. The switch towards veganism is majorly influenced by factors like health, weight management, animal well-being, and environmental issues. Hemp serves as an exceptional vegan protein source as it encompasses all the nine essential amino acids along with fiber, healthy fats, and minerals. For instance, Finder, a US-based personal finance comparison platform, reported that in April 2024, around 2.5 million people, or 4.7% of the UK's population identified as vegans. This figure was a significant increase from the 1.4 million vegans, comprising 2.5% of the population, in 2023. Thus, a surge of 1.1 million vegans was observed in the UK between 2023 and 2024. As a consequence, the growing vegan populace is propelling the hemp-based food market's growth.

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What Are the Key Trends Driving Hemp Based Foods Market Growth?
One of the most notable trends in the hemp-based food market is strategic collaborations. To boost their market presence and make use of shared resources, leading corporations are forming collaborations with hemp-based food manufacturers. Victory Hemp Foods, an American company manufacturing hemp-based food, partnered with Applied Foods Sciences (AFS) in July 2022. This alliance is set to escalate the sales and marketing of two proprietary elements of Victory Hemp Foods, V-70TM Hemp Heart Protein and V-ONETM Hemp Heart Oil, and the rest of its food and beverage components. It will also extend the variety of products that can include hemp grain as an ingredient. AFS, a US-based company, supplies innovative, functional, and organic materials. In a similar move, Burcon NutraScience Corporation, a Canadian firm concentrating on crafting and fabricating plant-based proteins, collaborated with HPS Food and Ingredients Inc. in July 2023. Through this partnership, Burcon plans to tap into the growing trend of hempseed protein and offer internationally superior plant-based protein alternatives. The collaboration between Burcon and HPS is expected to speed up the market acceptance of Burcon's hempseed protein isolate. The goal of this collaboration is to develop a new category of hempseed-based protein elements and explore new market opportunities. The specializing areas of HPS Food and Ingredients Inc., a US-based company, include food and components.

How Is the Hemp Based Foods Market Segmented?
The hemp based foodsmarket covered in this report is segmented -

1) By Product: Hemp Seed Oil, Hemp Protein Powder, Whole Hemp Seed, Hulled Hemp Seed
2) By Distribution Channel: Supermarket Stores, Convenience Stores

Subsegments:
1) By Hemp Seed Oil: Cold-Pressed Hemp Seed Oil, Refined Hemp Seed Oil
2) By Hemp Protein Powder: Organic Hemp Protein Powder, Conventional Hemp Protein Powder
3) By Whole Hemp Seed: Raw Whole Hemp Seeds, Roasted Whole Hemp Seeds
4) By Hulled Hemp Seed: Raw Hulled Hemp Seeds (Hemp Hearts), Flavored Hulled Hemp Seeds

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Which Companies Are Leading the Charge in Hemp Based Foods Market Innovation?
Major companies operating in the hemp based foods market include Nutiva Inc., Compass Group Management LLC, Canopy Growth Corporation, Hempco Inc., Terra Tech Corp., Manitoba Harvest, Braham Murray, Liaoning Qiaopai Biotech Co. Ltd., Canah International SRL, GIGO Food, Just Hemp Foods, North American Hemp Grain Co., Yunnan Hua Fang Industrial Hemp Co. Ltd., GFR Ingredients Inc., Naturally Splendid Enterprises Ltd., Navitas Organics, Yishutang, Hemp Foods Australia Pty Ltd., Elixinol Wellness Limited, Canada Hemp Foods Ltd., Mettrum Originals, The Hemp Corporation Pty Ltd., Fresh Hemp Foods Ltd., Laguna Blends Inc., Ecofibre Limited, Beyond Meat, Impossible Foods Inc., Good Hemp Inc.

Which Regions Are Leading the Global Hemp Based Foods Market in Revenue?
North America was the largest region in the hemp based food market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the hemp based foods market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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