Global Hemp Protein Market - Growth, Trends and Forecasts (2020 - 2025)

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.Key Market Trends

Increased Demand for High Quality, Plant Based and Safe Protein Source

Animal based proteins has been undergoing various controversies during the past years, regarding the carcinogenicity regarding the red meat and the antibiotic residues found in meat. The emerging trend of veganism has also helped in rising the revenue of the market. In addition minimally processed and chemical-free consumption patterns has also opened an oppprtunity for the market. Studies has also shown that consuming plant based protein can help in reducing the risk of diseases such as cardiovascular diseases and cancer. Moreover it has various other benefits such as immune-system booster, weight suppressant, and its ability to lower blood pressure and cholesterol. Additionally hemp protein has the highest percentage of protein as total weight, thus it can be considered as a suitable substitute for animal protein.

North America Emerges as Major Market for Hemp Protein

The United States is leading market for hemp protein in the North American region. The major advancement for hemp industry in the United States came in 2014 with the passage of the US Farm Bill that allowed states to conduct hemp pilot programs. However the federal government permission is still the mandatory requirement. Since hemp is also from the same species of plant, Cannabis sativa, as marijuana, its production in the United States is restricted. The ease of regulations will provide further impetus to overall hemp protein market in the United States. JD Farms is one of the major and the first legal hemp farm in New York.

Competitive Landscape

Global hemp protein market is a fragmented market with the presence of various players. Leading manufacturers in the hemp protein market focus to leverage opportunities posed by emerging economies like India and China to expand their revenue base. Companies are increasingly incorporating hemp protein in their products like nutrition bars, tortilla chips, pretzels, and beer.

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