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Hemp Protein Powder Market Size

Report ID: GMI11999
Published Date: Oct 2024
Report Format: PDF

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Hemp Protein Powder Market Size

The global hemp protein powder market size was valued at USD 165.5 million in 2023 and is estimated to grow at a CAGR of over 13.8% from 2024 to 2032, driven by rising consumer demand for plant-based protein alternatives, particularly among health-conscious individuals, vegans, and vegetarians. Its high nutritional profile rich in amino acids, fiber, and essential fatty acids makes it attractive for fitness enthusiasts and individuals focused on muscle growth, weight management, and overall wellness. Additionally, increased awareness of sustainable and eco-friendly products bolsters hemp protein’s appeal, as it has a lower environmental impact compared to animal-based proteins.

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The market is also seeing expanded applications beyond traditional health supplements, with uses in smoothies, baked goods, personal care and functional foods. Overall, hemp protein powder’s versatility and health benefits are propelling its growth across diverse consumer segments globally.

Hemp Protein Powder Market Report Attributes
Report Attribute	Details
Base Year:	2023
Hemp Protein Powder Market Size in 2023:	USD 165.5 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	13.8%
2032 Value Projection:	USD 530 Million
Historical Data for:	2021 - 2023
No. of Pages:	235
Tables, Charts & Figures:	165
Segments covered:	Nature, Application, Distribution channel
Growth Drivers:	Rising consumer preference for plant-based protein sources Increased awareness of hemps nutritional benefits, including high fiber and amino acid content Growth in health-conscious consumer segments globally Expansion of vegan and vegetarian diets
Pitfalls & Challenges:	Regulatory restrictions on hemp in various regions High production costs relative to other plant-based proteins

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For instance, in March 2022, Lotus Organics+ introduced hemp into its beauty product range with the launch of its new Hemp Youth Glow line. This new collection included a variety of skincare solutions such as the Hemp Youth Glow Blissful Serum, Hemp Youth Glow Soothing Cleanser, Hemp Youth Glow Crème, Hemp Youth Glow Facial Oil, and Hemp Youth Glow Sleep Crème.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of hemp protein powder reached USD 165.5 million in 2023 and is set to grow at a 13.8% CAGR from 2024 to 2032, driven by rising consumer demand for plant-based protein alternatives.

The conventional segment recorded USD 108.2 million in 2023 and is expected to expand at a 14% CAGR from 2024 to 2032 due to established cultivation practices and broad consumer familiarity.

The offline retail segment held over USD 91.6 million in 2023 and is projected to grow at a 14% CAGR through 2032, propelled by consumer preference for physical shopping experiences and immediate product availability.

The U.S. market recorded around USD 39.2 million in 2023 and is poised to witness 14% CAGR until 2032, led by advanced agricultural infrastructure and increasing consumer awareness of plant-based nutrition.

The major players in the industry include Anthonys Goods, Evo Hemp, Health Horizons, India Hemp Organics, Manitoba Harvest, Navitas Organics, Nutiva, Sunwarrior, and Terrasoul Superfoods.