Market Size of united states hemp protein Industry
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 13.98 Million |
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Market Size (2029) | USD 17.9 Million |
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Largest Share by End User | Food and Beverages |
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CAGR (2024 - 2029) | 5.06 % |
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Fastest Growing by End User | Supplements |
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Market Concentration | Medium |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
United States Hemp Protein Market Analysis
The United States Hemp Protein Market size is estimated at 13.98 million USD in 2024, and is expected to reach 17.9 million USD by 2029, growing at a CAGR of 5.06% during the forecast period (2024-2029).
13.98 Million
Market Size in 2024 (USD)
17.9 Million
Market Size in 2029 (USD)
5.40 %
CAGR (2017-2023)
5.06 %
CAGR (2024-2029)
Largest Market by End User
50.45 %
value share, Food and Beverages, 2023
The F&B segment is the leading end user segment for hemp protein. The bakery, snacks, and beverages sub-segments account for the surging demand from the F&B segment.
Fastest Growing Market by End User
6.14 %
Projected CAGR, Supplements, 2024-2029
The supplements segment is witnessing the fastest growth due to their ability to boost immunity and support recovery after exercise, gaining acceptance in post-workout diets.
Leading Market Player
45.22 %
market share, Tilray Inc., 2021
Tilray Inc. dominates the hemp protein market. It constantly invests in research and product launches to enhance the protein content and improve the texture of its products.
Second Largest Market Player
16.90 %
market share, ETChem, 2021
Higher quality product offerings as well as multiple certifications received by the company with its hemp protein are key factors driving ETChem's expansion in the market.
Third Largest Market Player
0.59 %
market share, Axiom Foods Inc., 2021
Axiom Foods Inc. focused on increasing supply in order to strengthen its market position. As a result, it teamed with Brenntag Food & Nutrition in North America.
Growing interest in protein-rich, high-fiber protein is impacting the application of hemp protein largely in supplements sector
- As COVID-19 hit the country, consumers focused on vitamin and mineral supplements to boost their immunity. The preference for vitamin and mineral supplements has increased drastically from 76% in 2019 to almost 95% in 2020. In 2020, 91% of Americans increased their consumption of immunity-boosting supplements, and about 98% consumed multivitamins during the COVID-19 pandemic. The scenario weakened the protein-based supplement demand, further affecting the market.
- Over the review period, supplements remained the most dominant segment in the US hemp protein market. Supplements hold the second major share in the market, it is projected to register a CAGR of 5.04% by value in the forecasted period. In recent years, hemp protein has gained popularity as a natural sports supplement or a protein-rich boost that is high in fiber, and healthy fats (omega 3 and 6), and does not cause bloating. Specifically, omega 3, 6, and 9 fatty acids are included in the product. Hemp protein also constantly boosts energy levels over time.
- The market for food and beverages possesses a major market share, it is projected to register a CAGR of 3.27% by value in the forecasted period. However, the scenario changed in 2020, as the F&B sector claimed its top position due to the weakened protein-based supplement demand in the base year. The rising interest in protein foods and the rise in a healthy lifestyle, with 63% trying to eat healthy most or all of the time. In snacks, organically sourced hemp protein is mainly used in the form of flakes that add a crunch to the product, along with providing protein fortification.
Understand The Key Trends Shaping This Market
United States Hemp Protein Industry Segmentation
Food and Beverages, Supplements are covered as segments by End User.
- As COVID-19 hit the country, consumers focused on vitamin and mineral supplements to boost their immunity. The preference for vitamin and mineral supplements has increased drastically from 76% in 2019 to almost 95% in 2020. In 2020, 91% of Americans increased their consumption of immunity-boosting supplements, and about 98% consumed multivitamins during the COVID-19 pandemic. The scenario weakened the protein-based supplement demand, further affecting the market.
- Over the review period, supplements remained the most dominant segment in the US hemp protein market. Supplements hold the second major share in the market, it is projected to register a CAGR of 5.04% by value in the forecasted period. In recent years, hemp protein has gained popularity as a natural sports supplement or a protein-rich boost that is high in fiber, and healthy fats (omega 3 and 6), and does not cause bloating. Specifically, omega 3, 6, and 9 fatty acids are included in the product. Hemp protein also constantly boosts energy levels over time.
- The market for food and beverages possesses a major market share, it is projected to register a CAGR of 3.27% by value in the forecasted period. However, the scenario changed in 2020, as the F&B sector claimed its top position due to the weakened protein-based supplement demand in the base year. The rising interest in protein foods and the rise in a healthy lifestyle, with 63% trying to eat healthy most or all of the time. In snacks, organically sourced hemp protein is mainly used in the form of flakes that add a crunch to the product, along with providing protein fortification.
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United States Hemp Protein Market Size Summary
The United States hemp protein market is experiencing a steady growth trajectory, driven by increasing consumer interest in plant-based diets and natural supplements. The market is characterized by a shift in consumer preferences towards hemp protein as a natural sports supplement, known for its high fiber content and healthy fats, including omega 3, 6, and 9 fatty acids. This trend is supported by a growing number of consumers adopting vegan and flexitarian diets, motivated by concerns over animal welfare and health benefits. The market is moderately consolidated, with key players like Axiom Foods Inc., Cooke Inc., ETChem, Martin Bauer Group, and Tilray Inc. leading the industry. These companies are actively involved in research and innovation to enhance the nutritional profile of hemp and pea protein products.
The market's growth is further bolstered by the rising demand for protein-rich foods and beverages, with hemp protein gaining traction in the food and beverage sector. This sector has claimed a significant market share, driven by the increasing per capita consumption of plant proteins and the popularity of snacks fortified with organically sourced hemp protein. The COVID-19 pandemic initially impacted the demand for protein-based supplements, but the food and beverage industry adapted by focusing on health-conscious consumers. The market is expected to continue its upward trend, supported by investments and innovations in plant-based protein sources, as well as strategic partnerships and acquisitions among major industry players.
United States Hemp Protein Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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1.1 End User
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1.1.1 Food and Beverages
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1.1.1.1 By Sub End User
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1.1.1.1.1 Bakery
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1.1.1.1.2 Beverages
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1.1.1.1.3 Snacks
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1.1.2 Supplements
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1.1.2.1 By Sub End User
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1.1.2.1.1 Elderly Nutrition and Medical Nutrition
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1.1.2.1.2 Sport/Performance Nutrition
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United States Hemp Protein Market Size FAQs
How big is the United States Hemp Protein Market?
The United States Hemp Protein Market size is expected to reach USD 13.98 million in 2024 and grow at a CAGR of 5.06% to reach USD 17.90 million by 2029.
What is the current United States Hemp Protein Market size?
In 2024, the United States Hemp Protein Market size is expected to reach USD 13.98 million.
