Hemp Protein Market Trend & Forecast | 2028

Market Insights

The Hemp Protein Market estimated to grow at a healthy CAGR of 5.1% during the forecast period.

What is Hemp Protein?

Hemp protein is defined as a protein seed. The protein in hemp is made up of edestin and 2S albumin. Based on form, it can be categorized as power and paste.

Covid-19 Impact Analysis

The outbreak of COVID-19 significantly impacted the materials supply chains, international trade, and manufacturing operations across the world. The production of hemp protein declined amidst the COVID-19 pandemic as the market players had to shut production facilities or operate the facilities below the optimal production capacities to avoid the spread of the coronavirus.

Key Players

Key players operating in the Hemp Protein Market are-

• Hemp Oil Canada (Canada)
• Navitas Naturals (US)
• North American Hemp & Grain (Canada)
• Hempco LLC (US)
• Fresh Hemp Foods Ltd. (Canada)
• GFR Ingredients Inc. (Canada)
• Green Source Organics Inc. (US)
• The Raw Chocolate Company (UK)
• Onni Group (US)

Market Dynamics

The global growth of hemp protein market size is primarily driven by widespread product usage in various applications including bakery, confectionary and beverages among others. Increasing consumption of beverages and bakery products is expected to add to the market growth substantially. In addition to this, growing product demand in infant foods is likely to create lucrative opportunities for the players operating in the global market during the review period.

Segment’s Analysis

Application Trends

Based on application, the hemp protein market has been divided into bakery and confectionery, meat alternatives, beverages, infant foods and other.  The bakery and confectionery application segment accounted for the largest market share in 2020. The segment growth can be attributed to increasing demand for bakery products.

Regional Trends

By region, the Asia-Pacific Hemp Protein market accounted for the largest share in 2020 and is expected to grow at a significant CAGR during the review period. The regional market growth can be attributed to strong presence of food & beverage industry coupled with rising demand for nutritious infant food products. The market growth in North America region is expected to grow at a considerable CAGR during the review on account of high product adoption rate and presence of key market players such as Navitas Naturals (US) and Green Source Organics Inc. (US).

Critical Questions Answered in the Report

This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the hemp protein market. Following are the critical questions answered in the report.

• What are the key trends in the Hemp Protein market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on Hemp Protein market?
• What are the key strategies adopted by the major vendors to lead in the Hemp Protein market?
• What is the market share of the top vendors?

Target Audience

The target audience of Hemp Protein Market includes-

• Hemp Protein Vendors
• Hemp Protein Manufacturers
• Hemp Protein Distributors
• Organizations
• Government Bodies

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