Organic hemp protein is a plant-based protein derived from the seeds of the hemp plant, Cannabis sativa. Hemp protein is rich in essential amino acids, dietary fiber, omega-3 and omega-6 fatty acids, antioxidants, minerals, and phytochemicals. It has many health benefits such as improving digestion, lowering cholesterol and blood pressure, boosting immunity, reducing inflammation, and supporting muscle growth and recovery.
Market Size and Growth
The global market for organic hemp protein is expected to grow at a compound annual growth rate (CAGR) of 15.2% from 2019 to 2024, reaching USD 7.08 billion by 2027. The main factors driving this growth are:
- The increasing demand for high-quality, plant-based, and safe protein sources among consumers who are concerned about animal welfare, environmental sustainability, and health issues related to animal-based proteins.
- The growing popularity of veganism and vegetarianism as lifestyle choices that promote ethical and ecological values.
- The rising awareness of the nutritional and functional benefits of hemp protein among various segments such as functional food, functional beverage, dietary supplements, pharmaceuticals, and personal care products.
- The supportive government policies and regulations facilitate the cultivation and processing of industrial hemp in various countries such as Canada, China, and Australia.
Market Segmentation by Region
Among the different regions of the world, Europe is expected to be the fastest-growing market for organic hemp protein during the forecast period due to its favorable regulatory environment for hemp production and consumption. North America is expected to be the largest market for organic hemp protein due to its high consumer awareness and preference for natural and organic products. Asia-Pacific is also expected to grow significantly due to its large population base and increasing disposable income.
Organic hemp protein is a promising product that offers multiple advantages for consumers who are looking for healthy alternatives to animal-based proteins. With its growing demand across various applications and regions, organic hemp protein has a huge potential to become a mainstream ingredient in the food industry.