Home > Food & Beverages > Proteins > Alternative Proteins > Hemp Protein Powder Market

Hemp Protein Powder Market Trends

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

Download Free Sample

Hemp Protein Powder Market Trends

The hemp protein powder industry is experiencing notable growth, driven by rising consumer demand for plant-based, sustainable protein sources. Health-conscious consumers are increasingly seeking hemp protein for its complete amino acid profile, fiber content, and nutritional benefits. This trend aligns with the expanding popularity of vegan and vegetarian diets, particularly in North America and Europe, where plant-based alternatives are in high demand.

Innovations in hemp protein processing are also improving product quality, while regulatory advancements around hemp cultivation are fostering greater market access globally. However, challenges such as regulatory variability and cost competition with other proteins may impact growth trajectories.

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.