Hemp Protein Market

Hemp Protein Market by Sources (Conventional and Organic), Applications (Personal Care, Dietary Supplements, Functional Food, Pharmaceuticals, Functional Beverages, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: FB-4437
  • Author: Growth Market Reports
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  • No. Of Pages: 155
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The global hemp protein market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the growing health consciousness among consumers and increasing demand of nutritional food products across the globe.

Hemp Protein Market Key Takeaways

Hemp protein is one of the by-products of hemp seeds came from the Cannabis sativa or hemp plant. It is naturally gluten free protein as well as free from trypsin inhibitors and chemical residues, but is not a genetically modified plant. Hemp seed does not contain any amount of THC, a psychoactive compound as well as it nourishes the body in a proper way and is easily digestible. Therefore, it is widely used in the making of different protein supplements and protein-improved nourishments in the form of powder and paste. Hemp seeds contain around 45% oil, 35% protein, and 10% sugar. Hemp protein effectively replaces the meat and has nine essential amino acids that make it a total plant-protein. Consumption of hemp protein offers a several benefits to the consumer as it is rich in amino acid arginine, which has benefit for heart health. Since it is great source of essential fatty acid Omega-3, hemp protein has some amount of antioxidants, which protects the brain cells from damaging. It is a natural source of many minerals, vitamins, and fibers.

The COVID-19 pandemic outbreak had negatively impacted the global hemp protein market. During the pandemic, emergency lockdown imposed by government body had forced to temporary shutdown of manufacturing plant as part of policies to curb the virus spread. As a result, the supply chain of packaging had been completely disrupted and demand from buyers and sellers declined across the globe. Additionally, the pandemic had adversely impacted the overall trade business of hemp seeds. The market is expected to recover soon due to subsiding COVID cases.

Market Trends, Drivers, Restraints, and Opportunities

  • Rising awareness among consumers about health benefits of the hemp protein across the globe is one of the key factors driving the market.
  • Surging demand for hemp protein from vegetarian and vegan consumers is projected to boost the market during the forecast period.
  • Less awareness among consumers about nutritional benefits of hemp protein especially in developing countries act as major challenges that can restrict the market growth in the coming years.
  • Stringent government policies in developed economies regarding the use of hemp protein and other nutrients in food products is expected to hamper the market growth during the projected timeline.
  • Growing demand of hemp-based products, such as hemp seed oil is anticipated to create significant growth opportunities for the market.

Scope of the Report

The report on the global hemp protein market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

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

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Sources (Conventional and Organic) and Applications (Personal Care, Dietary Supplements, Functional Food, Pharmaceuticals, Functional Beverages, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Aurora Cannabis (Hempco Food and Fiber Inc.); Hemp Oil Canada Inc.; North American Hemp & Grain Co. Ltd.; and Navitas LLC

Market Segment Insights

Organic segment to grow at rapid pace

Based on sources, the global hemp protein market is bifurcated into conventional and organic. The organic segment is expected to grow at a rapid pace during the forecast period due to the growing inclination of consumers towards the minimally processed and chemical free hemp-based products. However, the conventional segment is projected to expand at a substantial growth rate in the coming years attributed to the increasing use of the conventional hemp as superfood as it is rich in insoluble fibers and vitamins.

Growing consumption of hemp protein drives the functional beverages segment

On the basis of applications, the market is segmented into personal care, dietary supplements, functional food, pharmaceuticals, functional beverages, and others. The functional beverages segment is anticipated to expand at robust growth rate during the forecast period owing to the growing consumption of hemp protein by the consumers on beverages such as smoothies and breakfast toppings. On the other hand, the supplements segment is anticipated to expand at a substantial CAGR during the forecast period owing to the high adoption of hemp protein as a supplement instead of animal-based protein.

Hemp Protein Market By Applications

North America to constitute a key market share

In terms of geography, the global hemp protein market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key share of the market during the projected period attributed to the increasing consumer awareness about health benefits of hemp protein. Moreover, supportive government initiative, such as US Farm Bill that allowed states to conduct hemp pilot programs presents another key factor for boosting the regional market. However, the market of Asia Pacific is anticipated to grow at a rapid pace during the forecast period due to the changing lifestyle of consumer, rapidly increasing consumer base for hemp protein, especially younger generation, and changing consumers’ preference towards plant-based protein over dairy protein in the region.

Segments

The global hemp protein market has been segmented on the basis of

Sources
  • Conventional
  • Organic
Applications
  • Personal Care
  • Dietary Supplements
  • Functional Food
  • Pharmaceuticals
  • Functional Beverages
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players

Competitive Landscape

Key players competing in the global hemp protein market are Aurora Cannabis (Hempco Food and Fiber Inc.); Hemp Oil Canada Inc.; North American Hemp & Grain Co. Ltd.; and Navitas LLC. Companies are focusing on the manufacturing of more hemp-based products to maintain their competitive position in the market. Companies have been widely engaged in collaborations, strategic partnership, new product launch, and merger & acquisition to boost their market share and acquire new buyers.

For instance, in August 2019, Aurora Cannabis, a Canada-based licensed cannabis cultivator announced the acquisition of all remaining and issued common shares of Hempco Food and Fiber Inc. as a part of the previously announced plan of arrangement. As a part of their agreement, Hempco agreed to provide Aurora with high-volume and low-cost raw hemp material for the extraction of primarily cannabidiol. In July 2019, Aurora Cannabis announced that it entered into a partnership with UFC, the world's premier mixed martial arts organization for the joint clinical research program. The announced research program aimed at focusing on the use of hemp-based cannabidiol, as an effective treatment for recovery, pain, wound-healing, and inflammation on mixed martial arts athletes.

Hemp Protein Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Hemp Protein Market Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Hemp Protein Market Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Hemp Protein Market Market - Supply Chain
  4.5. Global Hemp Protein Market Market Forecast
     4.5.1. Hemp Protein Market Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Hemp Protein Market Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Hemp Protein Market Market Absolute $ Opportunity
5. Global Hemp Protein Market Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Hemp Protein Market Market Size and Volume Forecast by Applications
     5.3.1. Personal Care Dietary Supplements Functional Food Pharmaceuticals Functional Beverages Others
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Hemp Protein Market Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Hemp Protein Market Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Hemp Protein Market Demand Share Forecast, 2019-2026
7. North America Hemp Protein Market Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Hemp Protein Market Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Hemp Protein Market Market Size and Volume Forecast by Applications
     7.4.1. Personal Care Dietary Supplements Functional Food Pharmaceuticals Functional Beverages Others
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Hemp Protein Market Demand Share Forecast, 2019-2026
8. Latin America Hemp Protein Market Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Hemp Protein Market Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Hemp Protein Market Market Size and Volume Forecast by Applications
     8.4.1. Personal Care Dietary Supplements Functional Food Pharmaceuticals Functional Beverages Others
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Hemp Protein Market Demand Share Forecast, 2019-2026
9. Europe Hemp Protein Market Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Hemp Protein Market Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Hemp Protein Market Market Size and Volume Forecast by Applications
     9.4.1. Personal Care Dietary Supplements Functional Food Pharmaceuticals Functional Beverages Others
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Hemp Protein Market Demand Share Forecast, 2019-2026
10. Asia Pacific Hemp Protein Market Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Hemp Protein Market Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Hemp Protein Market Market Size and Volume Forecast by Applications
     10.4.1. Personal Care Dietary Supplements Functional Food Pharmaceuticals Functional Beverages Others
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Hemp Protein Market Demand Share Forecast, 2019-2026
11. Middle East & Africa Hemp Protein Market Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Hemp Protein Market Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Hemp Protein Market Market Size and Volume Forecast by Applications
     11.4.1. Personal Care Dietary Supplements Functional Food Pharmaceuticals Functional Beverages Others
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Hemp Protein Market Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Hemp Protein Market Market: Market Share Analysis
  12.2. Hemp Protein Market Distributors and Customers
  12.3. Hemp Protein Market Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Aurora Cannabis (Hempco Food and Fiber Inc.) Hemp Oil Canada Inc. North American Hemp & Grain Co. Ltd. Navitas LLC
The global hemp protein market has been segmented on the basis of

Sources
  • Conventional
  • Organic
Applications
  • Personal Care
  • Dietary Supplements
  • Functional Food
  • Pharmaceuticals
  • Functional Beverages
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players

Key players competing in the global hemp protein market are Aurora Cannabis (Hempco Food and Fiber Inc.); Hemp Oil Canada Inc.; North American Hemp & Grain Co. Ltd.; and Navitas LLC. Companies are focusing on the manufacturing of more hemp-based products to maintain their competitive position in the market. Companies have been widely engaged in collaborations, strategic partnership, new product launch, and merger & acquisition to boost their market share and acquire new buyers.

For instance, in August 2019, Aurora Cannabis, a Canada-based licensed cannabis cultivator announced the acquisition of all remaining and issued common shares of Hempco Food and Fiber Inc. as a part of the previously announced plan of arrangement. As a part of their agreement, Hempco agreed to provide Aurora with high-volume and low-cost raw hemp material for the extraction of primarily cannabidiol. In July 2019, Aurora Cannabis announced that it entered into a partnership with UFC, the world's premier mixed martial arts organization for the joint clinical research program. The announced research program aimed at focusing on the use of hemp-based cannabidiol, as an effective treatment for recovery, pain, wound-healing, and inflammation on mixed martial arts athletes.

Hemp Protein Market By Key Players

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