Hemp Protein Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

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Hemp Protein Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019 - 2029

Status : October, 2020 | Food and Beverages | PPT format

Report Digest


Global Hemp Protein Market: Overview

Hemp refers to a wide variety of the cannabis sativa plant and it is grown to optimize the use of fibers in the stalk of the plant or to maximize production of seed. In addition to its medical uses, hemp is also used in the production of a large number of products. It comes with a very high tensile strength, which makes it ideal for use in the making of thread, rope, and string. It is also used in the making of fiberglass like material, which is light yet strong and safe. Such multiple uses of hemp support growth of the global Hemp Protein market.

Source, application, and region are the three key parameters based on which the global hemp protein market has been divided. The objective of such segmentation is to offer a clearer, 360-degree view of the market.

Global Hemp Protein Market: Notable Developments

The global hemp protein market has come across some major developments over the last few years. One of such developments that have played an important role in influencing the course of the market is mentioned below:

  • In February 2019, Canada-based cannabis and pharmaceutical firm, Tilray, Inc, acquired Manitoba Harvest, hemp food maker. The acquisition is likely to diversify and expand the product portfolio of Tilray into the category of natural food items. It will bring forth the knowledge and skill of Manitoba Harvest when working with cannabinoids in Tilray.

Some of the key players in the global hemp protein market comprise the below-mentioned:

  • North American Hemp & Grain Co. Ltd
  • Navitas LLC, Hemp Oil Canada Inc
  • Cosucra Groupe Warcoing SA
  • Aurora Cannabis (Hempco Food and Fiber Inc.)
  • Tilray, Inc.
  • CHII Naturally Pure Hemp

Global Fragrances Market: Key Trends

The following drivers, restraints, and opportunities characterize global hemp protein market over the assessment period, from 2019 to 2027.

Demand to Ride on the Back of Burgeoning Demand from Food and Beverage Industry

The global hemp protein market is likely to observe notable growth in the times to come, thanks to its burgeoning demand from the food and beverage industry. This increased demand for hemp protein is ascribed to the rising consumer awareness about the benefits associated with the use of hemp-based products. Some of the hemp protein-based products are hemp seed oil, whole hemp seed, hemp protein powder, and hulled hemp seed.

Hemp protein finds use in an extensive range of industries such as personal care, nutraceuticals, pharmaceuticals, beverages, cosmetics, and food industries. The prominent players in the food and beverage sector are relentlessly targeting the recent trends in consumption of food items that come with hemp protein. These players are capitalizing on these trends to come up with products that would cater to the needs of both domestic and national players. The growing imports and exports of hemp products are foreseen to support expansion of the global hemp protein market.

Global Hemp Protein Market: Geographical Analysis

In the global hemp protein market, the US is one of the most promising regions and is expected to retain its lucrativeness throughout the tenure of analysis, from 2019 to 2027. With the introduction of the US Farm Bill in 2014, states were empowered with the ability to run hemp pilot programs. The permission of the federal government, however, is needed to conduct such programs. This bill is likely to work in favor of the hemp protein market in the region.

The global hemp protein market is segmented as:

Source

  • Organic
  • Conventional

Application

  • Functional Food
  • Functional Beverage
  • Dietary Supplements
  • Pharmaceutical
  • Personal Care

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?