The global industrial hemp market is on an impressive trajectory, with its estimated value reaching USD 6.8 billion in 2022 and projected to soar to USD 18.1 billion by 2027, marking a remarkable CAGR of 21.6% in terms of value. What’s driving this growth? Let’s dive in!
Hemp in the Food & Beverage Industry
One of the prime catalysts for this surge is the surging usage of hemp seeds in a wide array of food and beverage products. From cereals to yogurts, protein powders to hemp milk, the versatility of hemp as a nutrient-rich ingredient is turning heads in the F&B sector.
Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=84188417
Key Features of the Industrial Hemp Market
Behind this flourishing market lie several key features:
- Legalization and Deregulation: Many countries are easing restrictions on hemp cultivation, ensuring a steady supply of raw materials.
- Demand for Hemp-based Products: Textiles, paper, and building materials crafted from hemp are experiencing a high demand.
- Technological Advancements: Innovations in cultivation and processing are reducing costs and boosting efficiency.
- Sustainability: Hemp’s minimal water and pesticide requirements make it an eco-friendly alternative to traditional crops.
- Food & Beverage Marvel: Hemp’s journey into the F&B industry, particularly through hemp seeds and hemp oil, is reshaping menus worldwide.
Hemp in Food & Beverage: A Versatile Player
Within this sector, hemp is taking the lead in food and beverage applications. Here’s why:
- Nutrient Powerhouse: Hemp packs essential fatty acids, vitamins, and minerals, making it a valuable addition to various food products.
- Plant-based Protein: The global rise of veganism is boosting demand for hemp-based processed foods like bars, snacks, and cheese.
- Digestive Health: Hemp’s digestible fiber content is enhancing its role in food products, promoting better digestion.
- Hemp Snacking: Popular products like hemp tortilla chips, corn chips, and hemp hearts are making waves in the snacking world.
- Breakfast of Champions: Nutrient-rich hemp cereal is gaining traction, offering a wholesome start to the day.
- Post-exercise Fuel: Hemp snacks, with their high protein content, are becoming favored post-workout options.
Europe Leads the Way
When it comes to growth in the industrial hemp market, Europe takes the spotlight. Here’s why:
- Hemp in F&B: Hemp seed and hemp seed oil are making their mark in European food, beverages, dietary supplements, and personal care products.
- Diverse Applications: Hemp fiber finds applications in automotive and construction materials for insulation and soundproofing.
- Popular Food Choice: The consumption of hemp seeds in food products such as smoothies, yogurt, cereals, and bars is thriving.
- Regional Demand: Countries like Germany and the Netherlands are witnessing soaring demand for hemp-based products.
- The industrial hemp market is not just a rising star; it’s a transformative force shaping industries and menus. Stay tuned as this journey unfolds, offering sustainable and innovative solutions to the world!