Market Overview

The Global Hemp Protein Market was valued at USD 707.9 million in 2023 and is expected to reach USD 2,105.9 million by 2031 while growing at a CAGR of 14.6% during the forecast period (2024-2031).

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Market Dynamics

This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global hemp protein market growth. Hemp protein, a dietary supplement derived from hemp seeds, is extracted from the Cannabis sativa plant. Unlike marijuana, hemp has minimal THC, the psychoactive compound. It has gained popularity as a plant-based protein source due to its nutritional benefits.

Increasing demand for plant-based proteins and growing awareness of health benefits drive the growth of the hemp protein market. However, regulatory challenges and the perceived association with cannabis may hinder market expansion.

Furthermore, the global hemp protein industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.

Segmentation – By Source Analysis

The Global Hemp Protein Market is segmented among Organic, and Conventional, based on Source. In 2023, Organic accounted for the majority of the market share*.

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Segmentation – By Application Analysis

The Global Hemp Protein Market is segmented among Functional Food, Functional Beverage, Dietary Supplements, Pharmaceuticals, Personal Care, and Other Industrial uses, based on Application. In 2023, Pharmaceuticals accounted for the majority of the market share*.

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Global Hemp Protein Market: Regional Analysis

Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, North America dominated the market with the highest market share, while Asia Pacific is expected to grow with the highest CAGR during the forecast period (2024 – 2031).

*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report

Competitive Landscape

Some of the key players operating in the market are Hemp Oil Canada Inc, Navitas LLC, North American Hemp & Grain Co. Ltd, Aurora Cannabis (Hempco Food and Fiber Inc.), Fresh Hemp Foods Ltd. (Manitoba Harvest Hemp Foods, Naturally Splendid Enterprises Ltd., GFR Ingredients Ltd., and Green Source Organics.

Table of Contents:

1. Research Methodology and Market Scope

• Research Methodology

• Market Scope

2. Executive Summary

3. Global Hemp Protein Market Dynamics

• Drivers

• Restraints

• Opportunity

4. Global Hemp Protein Industry Analysis

• PEST Analysis

• Porter's Five Force Analysis

• Recent Deals Analysis

5. Global Hemp Protein Market Segmentation, By Source

• Global Hemp Protein Market Share Analysis, By Source

• Global Hemp Protein Market Growth Analysis, By Source

• Global Hemp Protein Market Trends, By Source

o Organic

o Conventional

6. Global Hemp Protein Market Segmentation, By Application

• Global Hemp Protein Market Share Analysis, By Application

• Global Hemp Protein Market Growth Analysis, By Application

• Global Hemp Protein Market Trends, By Application

o Functional Food

o Functional Beverage

o Dietary Supplements

o Pharmaceuticals, Personal Care

o Other Industrial uses

7. Global Hemp Protein Market Segmentation, By Region

• Global Hemp Protein Market Share Analysis, By Region

• Global Hemp Protein Market Growth Analysis, By Region

• Global Hemp Protein Market Trends, By Region

o North America

o Europe

o Asia Pacific

o Latin America

o Middle East

o Africa

8. Competitive Landscape

• Hemp Oil Canada Inc*

o Company Overview

o Financial Performance

o Key Development/Strategies

o SWOT Analysis

• Navitas LLC

• North American Hemp & Grain Co. Ltd

• Aurora Cannabis (Hempco Food and Fiber Inc.)

• Fresh Hemp Foods Ltd

• Manitoba Harvest Hemp Foods

• Naturally Splendid Enterprises Ltd.

• GFR Ingredients Ltd.

• Green Source Organics  

 *Similar analysis will be provided for each company listed above.