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.
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.