Hemp, Inc. Reports

Hemp-Based Foods Market Set to Reach $8.36 Billion by 2028

LAS VEGAS, NV, Feb. 22, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire - Romaine calm! Hemp, Inc. (OTC:HEMP) is to report that the global hemp-based foods market is showing strong indicators of growth, fueled by the rising vegan population, advancements in processing technology, and the increasing number of health-conscious consumers seeking plant-based and gluten-free alternatives. The hemp-based foods market is set to reach $8.36 billion by 2028 according to The Business Research Company’s (TBRC) latest report, “Hemp Based Foods Global Market Report 2024”.

The report unveils a comprehensive overview of the hemp-based foods sector. Projected to achieve a robust compound annual growth rate (CAGR) of 8.9%, the market is anticipated to burgeon from its current standing to an impressive $8.36 billion by 2028. This surge is attributed primarily to the expanding vegan population across the globe. (Great things happen when olive our friends stick together.) Anyway, TBRC's analysis provides an excellent in-depth look at the hemp-based foods market, breaking it down into critical segments:

·       Products: Hemp Seed Oil, Hemp Protein Powder, Whole Hemp Seed, Hulled Hemp Seeds
·       Distribution Channels: Supermarket Stores, Convenience Stores
·       Geography: North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East, and Africa

Hemp-based foods, derived from the seeds of the hemp plant, are celebrated for their nutritional completeness, featuring all the essential amino acids required by the human body. The report highlights hemp milk, hemp oil, hemp cheese substitutes, and hemp-based protein powders as key products fueling the market's growth. Notably, hemp seed oil emerges as a versatile product, finding utility in both culinary applications and as a valued ingredient in cosmetic formulations.

The report underscores the diverse uses of hemp seeds and oils, highlighting their nutritional profile rich in omega fatty acids and gamma-linolenic acid. Their therapeutic properties, bolstered by high antioxidant content, make hemp-based foods an attractive option for health-conscious consumers.

Distributed primarily through supermarkets and convenience stores, hemp-based foods are becoming increasingly accessible to consumers worldwide, further propelling market growth. And with a robust infrastructure for hemp cultivation and a steadily growing demand for plant-based food from our vegan slayers here, North America is poised to dominate the market share, according to the Report. Yes, the forks have spoken and Hemp, Inc. is one of the companies at the forefront listening!