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Global Hemp-Based Foods Market 2016 - Industry to rise at a CAGR of 20.3% over Forecast period 2016-2020

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Published on : Sep 27, 2016

ALBANY, New York, September 27, 2016: ResearchMoz.us has announced the addition of a new report, titled “Global Hemp-Based Foods Market 2016-2020,” to its offerings. Players in the global hemp-based foods market compete in terms of quality, price, innovation, product differentiation, and promotion. Top players in the market have the advantage of a vast geographic presence and large production facilities across the globe. The hemp-based foods industry also has several small and regional manufacturers which lead the market in countries such as China and the UK. Key vendors in the market are focusing on merger and acquisition activities to enhance their production capacity through new product formulations. Key players profiled in the report are Hempco, Naturally Splendid, Manitoba Harvest, and Mettrum Originals.

The first section of the report gives the definition and classification of hemp-based foods. It also presents the industry chain structure analysis and the development overview. The global hemp-based foods market is driven by an increasing number of consumers on the lookout for alternative sources of healthy oils and proteins. The growing trend among dieticians and doctors recommending people to consume hemp-based foods is also encouraging the global hemp-based foods market to grow. Moreover, food specialists are stressing on the importance of consuming hemp oil to cure depression, anxiety, and even terminal cancer. Hemp seeds are increasingly being used in packaged foods such as bread, cereals, granola bars, and pretzels. Their capacity to blend with other common food ingredients in terms of taste and functionality makes them easy to use, thus driving their demand. 

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In the next part of the study, factors driving and restraining the development of the overall hemp-based foods industry have been detailed. As per analysts, the global hemp-based foods market is growing owing to the emergence of hemp as a superfood. This is because hemp-based foods have high content of essential fatty acids such as omega-3 and omega-6. The growing income levels of people in the developing regions of Asia Pacific and also the increasing number of health conscious consumers are boosting the global market. In addition, the rising urbanization and the influence it has on consumer lifestyle has impacted dietary preferences and is benefitting the global hemp-based foods market.

One of the major challenges faced by the global hemp-based foods market is the stringent government regulations regarding the cultivation and human consumption of hemp. For instance, some governments regulate the concentration of tetrahydrocannabinol (THC) and permit hemp that is bred to be low in THC content. Such regulations may hamper the growth of the market to a certain extent. However, rise in the demand for hemp-based foods from Asia Pacific in the near future is expected to emerge as an opportunity for growth in the market. 

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