Global Hemp Protein Market – Growth, Trends, and Forecast (2018 - 2023)
Hemp Protein Market
Hemp is considered to be a protein that packs a punch, it is also as one of the most nutritious and beneficial proteins available for vegetarians and vegans. Hemp is called super food, as it contains a good balance of essential fatty acids, amino acids, protein and fiber.
Changing Source of Consumer Perception
Consumer perception is everything for the growth of a nutritive product. Over time, due to various studies published, the product gained an immense reputation among consumers.
Carpathian Journal of Food Science & Technology published a study examining the effect of hemp food consumed in the morning and evening. After three weeks, the group receiving hemp protein had significantly higher levels of hemoglobin, serum protein and prealbumin.
Professional athletes also endorsed the product and mentioned it was a vital product to maintain their fitness.
MMA fighters like Ronda Rousey and Kyle Kingsbury have discussed the role of hemp protein in their regimens.
Hemp is a variety of the cannabis plant and is derived from cannabis sativa L species. Initially, it had negative consumer perception as it was a byproduct of cannabis, a flowering plant that is commonly known by its street name marijuana or weed.
An Underdog that is Expected to Change the Nutritive Food Market
Traditionally, conventional go-to protein powder has been whey protein, for the past two decades. However, over time, consumers who used the product have seen its side-effects. Consumers in the health & fitness field often referred whey protein as “Gas & Blast” due to the unfortunate effects of causing more bloat, digestive distress, and gassiness. Few consumers prefer soy proteins, but it also has few defects as most of the soy proteins are hexane extracted. Consumers are looking for plant-based protein products that are high in nutrients and safe to consume. Over time, hemp protein is expected to capture the whey protein, soy protein and other proteins market. Hemp protein stands head and shoulders above all other conventional protein powders in digestibility, assimilation, safety, and nutrient density, making it the most sort after product.
Many health food manufacturers understand that hemp is the future of the nutritive market and have started investing in the product
Hempco raised about USD 4 million last year, most of which was funneled back into the growing business. Hmpco put out a bold statement that investing in hemp means investing in the future, revenue generated by the company validates the statement.
Based on geography, the hemp protein market is segmented into five different regions, namely North America, Europe, Asia-Pacific, South America and Africa.
North America is expected to have the highest market share for hemp protein during the forecast period. The high market share can be attributed to the strong demand from the United States.
Asia-Pacific is expected to be the fastest-growing region for the hemp protein market, owing to the high demand from China and India.Major Players - BIOORIGINAL FOOD AND SCIENCE CORP., CHII NATURALLY PURE HEMP, GFR INGREDIENTS INC., GREEN SOURCE ORGANICS, HEMP OIL CANADA, HEMPCO, MANITOBA HARVEST HEMP FOODS, NAVITAS NATURALS, NORTH AMERICAN HEMP & GRAIN CO., Z COMPANY, among others.
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