Hemp Protein Market Outlook
Hemp protein is one of the industrial by-products of hemp seeds and is very widely used in the production of various protein-enriched foods, and protein supplements. Hemp seeds approximately contain 35% protein, 10% carbohydrates and 45% of oil. Hemp plants can be cultivated very easily they do not require any other fertilizers, pesticides or herbicides apart from that they also absorb the atmospheric carbon dioxide. Hemp protein is the best substitute for meat and has 9 vital amino acids that make it a complete plant-protein source for those who follow a vegetarian or vegan diet. Hemp protein has the same amount of protein as compared to lamb or beef products.
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Hemp protein is being very widely used in various sectors like food, cosmetics, beverages, pharmaceuticals, nutraceuticals, and personal care industries. The major players of the food & beverage industries are constantly targeting the recent consumer trends in food consumption based on the hemp protein to develop them as prominent players in their domestic as well as international markets. The growing exports and imports of hemp are stimulating the growth of the hemp protein market. North America followed by Western Europe has very strong market demand for the hemp protein. Though the Asia-Pacific region has the fastest developing hemp protein market due to the rising demand for hemp protein from India, China, and other Asian countries. Prominent players in the hemp protein market are aiming at emerging countries for their business expansion.
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Rise in Protein Requirement among Vegetarians and Vegans has Resulted in Demand for Hemp Protein to Grow
Hemp protein is a one of the plant-based product, hence, vegetarians, as well as vegans are opting it for the protein alternatives for the proteins derived from meats, dairies such as casein and whey and eggs. The market demand for hemp protein is also driven by the lactose intolerant population as it is free from lactose or also by the consumers who are allergic to peanuts, soybeans, and other legumes. There are several applications of hemp protein in food, cosmetics, nutraceuticals, pharmaceuticals, and the beverage sector has directed to the development of the global hemp protein market.
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Based on nature, the hemp protein market can be segmented as –
Based on form, the global hemp protein market can be segmented as-
Based on grade type, the hemp protein market can be segmented as –
- Food Grade
- Pharmaceutical Grade
- Industrial Grade
Based on application, the global hemp protein market can be segmented as –
- Infant Food
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