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United States Hemp Protein Market Size

The United States Hemp Protein Market is experiencing growth, with its market size expanding over the forecast period. The market's expansion is influenced by a shift in consumer preferences towards hemp protein, particularly in the food and beverage sector, which has gained prominence due to decreased demand for protein-based supplements during the pandemic. Hemp protein's appeal as a natural sports supplement, rich in fiber and healthy fats, contributes to its increasing popularity. The market's dynamics are shaped by the rising interest in protein-rich foods and a healthy lifestyle, driving the demand for hemp protein products.

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Market Size of united states hemp protein Industry

United States Hemp Protein Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 13.98 Million
svg icon Market Size (2029) USD 17.9 Million
svg icon Largest Share by End User Food and Beverages
svg icon CAGR (2024 - 2029) 5.06 %
svg icon Fastest Growing by End User Supplements
svg icon Market Concentration Medium

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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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

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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

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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

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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

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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

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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.
United States Hemp Protein 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.
End User
Food and Beverages
By Sub End User
Bakery
Beverages
Snacks
Supplements
By Sub End User
Elderly Nutrition and Medical Nutrition
Sport/Performance Nutrition
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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.

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United States Hemp Protein Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 End User

      1. 1.1.1 Food and Beverages

        1. 1.1.1.1 By Sub End User

          1. 1.1.1.1.1 Bakery

          2. 1.1.1.1.2 Beverages

          3. 1.1.1.1.3 Snacks

      2. 1.1.2 Supplements

        1. 1.1.2.1 By Sub End User

          1. 1.1.2.1.1 Elderly Nutrition and Medical Nutrition

          2. 1.1.2.1.2 Sport/Performance Nutrition

United States Hemp Protein Market Size FAQs

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.

In 2024, the United States Hemp Protein Market size is expected to reach USD 13.98 million.

United States Hemp Protein Market Report Snapshots

United States Hemp Protein Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029

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