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Market for Hemp Food to Increase Over 20% by 2020

Research and Markets has announced a new report titled Global Hemp-Based Foods Market 2016-2020, which estimates the growth rate of the hemp food market over the next several years.

“Scientists believe that humans have been cultivating hemp for over ten thousand years, owing to its nutritional, medicinal, and industrial properties”, begins the report. “As a crop, hemp is known to be one of humanity’s first domesticated crops. Over the years, hemp-based foods have emerged as “superfoods” in the health and wellness food category in North American and European markets.”

 

The analysts forecast the global hemp-based foods market “to grow at a CAGR [compound annual growth rate] of 20.3% during the period 2016-2020.”

The report was prepared “based on an in-depth market analysis with inputs from industry experts”, and covers “the market landscape and its growth prospects over the coming years”. It also includes a discussion of the key vendors operating in this market, which are listed below:

Key vendors
– Hempco
– Manitoba Harvest
– Mettrum Originals
– Naturally Splendid

Other prominent vendors
– Braham and Murray
– Canada Hemp Foods
– Elixinol
– Healthy Brands Collective
– Hemp Foods Australia
– Laguna Blends
– Nutiva
– The Cool Hemp Company

According to the report, the biggest driver for the hemp market is its emergence as a superfood. The biggest challenge is “stringent government regulations regarding cultivation and human consumption of hemp”

The full report can be found by clicking here.