The
report titled, “Hemp-based
Food Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2016 - 2024” provides insights on the major
factors accelerating and preventing the growth of the market,
alongside key trends and developments. The competitive landscape and
the regional segments have been assessed in details.
By
virtue of their easy digestibility and gluten-free properties, a
number of gluten intolerant people have been embracing hemp-based
food products. These products are also free from genetically modified
organisms, phytoestrogen, allergens, and pesticides. As a result, a
growing number of health conscious population has been consuming
hemp-based food of late. Another key benefit of these products is
their high mineral, vitamin, and fiber content. Rich in vitamin E,
magnesium, iron, and zinc, hemp seeds aid in the maintenance of a
trouble-free, healthy digestive system.
Moreover,
being a rich source of protein, hemp seeds are being increasingly
used in the manufacturing of packaged foods including pretzels,
cereals, bread, and granola bars. By ingredient, the market can be
divided into seeds, oil, and protein. Of these, the hemp seeds
segment is gaining traction, propelled by the convenience of
incorporating the seeds in various recipes and food products. For
instance, hemp seeds are being added to food products such as corn
chips, snack bars, and nut butter. These products are witnessing high
popularity among global consumers.
By
geography, the global market for hemp-based foods can be segmented
into Asia Pacific, North America, Latin America, the Middle East and
Africa, and Europe. Europe and North America have been displaying
greater degree of demand when compared with other regions.
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However,
with the growing disposable incomes of people in the developing
economies and the rising sense of awareness about the benefits
offered by hemp-based food, countries such as China, India,
Singapore, Malaysia, Brazil, and Nigeria are likely to represent a
major share in the global market for hemp-based foods. The growth of
these regions can also be attributed to the growing adoption of
western food trends among the people.
The
global market for hemp-based food is fragmented in terms of
competition. A number of small and large vendors have been competing
with each other by adopting strategies such as product innovation and
product differentiation. Higher quality, newer flavors, and healthier
ingredients are the key concerns of these companies.
Mettrum
Originals, Braham and Murray, Hemp co, Manitoba Harvest, Naturally
Splendid, Healthy Brands Collective, The Cool Hemp Company, Laguna
Blends, Elixinol, Canada Hemp Foods, Nutiva, and Hemp Foods Australia
are some of the major companies operating in the global market for
hemp-based food.
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