Global Hemp Protein Market Size To Exceed Significant Share By 2033: Market Growth Report

Global Hemp Protein Market Size To Exceed Significant Share By 2033

According to a research report published by Spherical Insights & Consulting, The Global Hemp Protein Market size is expected to grow 5.06% CAGR from 2023 to 2033, is expected to reach a significant share by 2033.  

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Hemp Protein Market Size, Share, and COVID-19 Impact Analysis, By Source (Organic and Conventional), By Application (Functional Food, Functional Beverage, Dietary Supplements, Pharmaceuticals, Personal Care, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.      

The hemp protein market includes the world production, distribution, and consumption of hemp seed protein. Hemp protein is a vegan-friendly, plant-based source of protein that is a complete protein since it contains all nine essential amino acids. Hemp protein is also high in fiber, omega-3 and omega-6 fatty acids, magnesium, and iron, and thus is health and well-being. Moreover, the hemp protein market is driven by the rising demand for plant-based and sustainable protein sources, the growth of vegan and vegetarian diets, and increasing awareness of hemp's health benefits. Additionally, the shift toward clean-label, natural products in food, beverages, and supplements fuels market growth globally. However, high production costs, limited awareness, and regulatory challenges regarding hemp-based products are key restraints in the hemp protein market. Additionally, competition from other plant-based protein sources impacts market growth.    

The conventional segment accounted for the largest share of the global hemp protein market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.  

Based on the source, the global hemp protein market is divided into organic and conventional. Among these, the conventional segment accounted for the largest share of the global hemp protein market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. This surge is driven by increasing consumer demand for natural and sustainably produced products, as well as a growing preference for clean-label and chemical-free options. Organic hemp protein, cultivated without synthetic pesticides or fertilizers, appeals to health-conscious consumers seeking products aligned with organic and sustainable practices. 

The dietary supplements segment accounted for a substantial share of the global hemp protein market in 2023 and is anticipated to grow at a rapid pace during the projected period.

On the basis of the application, the global hemp protein market is divided into functional food, functional beverage, dietary supplements, pharmaceuticals, personal care, and others. Among these, the dietary supplements segment accounted for a substantial share of the global hemp protein market in 2023 and is anticipated to grow rapidly during the projected period.  This prominence is attributed to the growing consumer preference for plant-based protein sources, particularly among health-conscious individuals seeking alternatives to animal-derived proteins. Hemp protein is recognized for its complete amino acid profile, digestibility, and hypoallergenic properties, making it an attractive option in nutritional supplements.

Europe is expected to grow at the fastest CAGR of the global hemp protein market during the projected period. This position is attributed to the region's stringent regulations governing hemp cultivation and product labeling, ensuring high-quality standards in the hemp protein market. Europe sees robust demand for organic and sustainable food products, bolstering the adoption of hemp protein in dietary supplements and functional foods. Moreover, increasing investments in research and development for hemp-derived products contribute to market growth across Western and Eastern Europe.   

Company Profiling

Major vendors in the global hemp protein market are Axiom Foods, Inc., Tilray Brands, Inc., Foodcom SA, Green Source Organics, Bioway (Xi An) Organic Ingredients Co., Ltd, Cooke Inc, GFR Ingredients Ltd., ETChem, A. Costantino & C. SpA, MB-Holding GmbH & Co. KG., and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development
•    In April 2024, Burcon NutraScience Corporation ("Burcon" or the "Company") (TSX: BU), a world technology leader in the creation of plant-based proteins for foods and beverages, and HPS Food and Ingredients Inc. ("HPS") are pleased to announce a major milestone in their joint venture to commercialize the world's first high-purity hemp protein isolate. Burcon and HPS have made their initial commercial sales of hemp protein, accessing a multi-billion-dollar, rapidly expanding addressable market. 

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global hemp protein market based on the below-mentioned segments:

Global Hemp Protein Market, By Source

• Organic
• Conventional

Global Hemp Protein Market, By Application

• Functional Food
• Functional Beverage
• Dietary Supplements
• Pharmaceuticals
• Personal Care
• Others

Global Hemp Protein Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa