Industrial hemp in the food market is expected to grow due to aggressive marketing strategies adopted by manufacturers to fuel the consumption of hemp-based food products
Industrial hemp is a kind of agricultural product, used in the creation of a large number of products, including building materials, yarns and spun fibers, paper, nutritional supplements, personal care products, cosmetics. , food and beverage, fabrics and textiles. Industrial hemp is a different variety from Cannabis Sativa L. A large number of countries allow the cultivation of hemp.
The increasing applications of industrial hemp in the food and beverage sector will drive the growth of global industrial hemp in the food market. In addition, the transformation of the sedentary lifestyle of the population is at the root of several chronic medical conditions. Hemp oil is known to have a high content of essential fatty acids which elevates and prevents various ailments. Hemp oil supports joint health, improves heart function, and reduces anxiety and stress. Hence, there is a significant increase in the consumption of hemp oil around the world. Hemp crops consist of a high yield of edible protein after harvest. In addition, the demand for industrial hemp is increasing every day due to the growing awareness of people about their health. Industrial hemp has several dietary benefits.
Low prices encourage farmers to expand their growing options. Nowadays, restaurants and cafes are experimenting with innovative flavor combinations in hemp-based food products to deliver unique and healthy dishes to customers. In addition, the premiumization of organic food and drink as well as gluten-free meals are among the aggressive marketing strategies adopted by manufacturers to increase the consumption of hemp-based food products globally.
The global industrial hemp in food market can be segmented into distribution channels, products, and regions.
By distribution channels, the market can be segmented into online stores, convenience stores, supermarkets, hypermarkets and others.
By products, the market can be segmented into Hemp Seeds, Hemp Seed Oil, Hemp Protein Powder, and Seeds.
North America accounts for the largest share of the global industrial hemp market in the food market due to increasing investments in the cultivation of different varieties of industrial hemp containing tetrahydrocannabinol (THC). Moreover, its growing demand due to the growing awareness of the population regarding the health benefits associated with hemp oil will also accentuate the growth of the regional market. The transformation of government policies in the region for the cultivation of hemp is also likely to support the growth of the regional market in the coming years.
Asia-Pacific is expected to experience a significant growth rate in the coming years due to the fact that China is the largest exporter of processed and raw hemp-based food products.
Some of the important players in the global industrial hemp market in the food market are Yunnan Industrial Hemp, Jinzhou Qiaopai Biotech, Nutiva and T12 Holdings Pty Ltd., Navitas Organics, Isodiol International Inc., Naturally Splendid Enterprises, Hempco Food and Fiber Inc., Hemp. Foods Australia Pty Ltd., GFR Ingredients Inc., Fresh Hemp Foods Ltd., Canada Hemp Foods Ltd. and Deep Nature Project. To quote, Tilray Inc. in February 2019 announced the acquisition of Manitoba Harvest. The initiative will strengthen the position of Nanaimo, a British Columbia-based pot producer in the US market as a manufacturer of hemp-based foods.
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With a Masters Degree in Brewing Technology and 6 years of global editorial experience, Jerri has been one of the most workaholic and dedicated members of the thefoodbeveragenews.com portal team. She has been part of this portal for 4 years now. Jerri started a career in writing as a freelance writer and the trip was worth watching and reviewing. She manages the beverage industry area of the portal and, together with her team, provides readers with all the essential and breaking news and reports in an easy and understandable way.