Hemp protein is the industrial byproduct of hemp seeds. Hemp seeds are composed of 35 percent protein, 10 percent carbohydrates, and 45 percent oil. At the same time, hemp seeds are grown without any pesticides, fungicides, and herbicides, which make them eco-friendly. Hemp protein is a rich source of amino acids that are essential to fulfil the protein need of the human body. It also lowers the risk of diabetes, heart diseases, diverticular disease, and constipation.
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In 2018, the US hemp protein market stood at 5.2 KT and is expected to reach xx KT by the end of 2026; growing at a significant CAGR during the forecast period. In terms of value, the US hemp protein market was US$ 207.2 Mn and is expected to reach US$ xx Mn by 2026, growing at a significant CAGR during the forecast period. An increase in health concerns such as obesity, rising application of hemp protein in food & beverage products, and Farm Bill 2018 are some of the major factors that are driving the growth of the market. However, allergies caused due to the excess use of hemp proteins, and the availability of substitutes such as soy protein and whey protein, are expected to impede the growth of the market.
The US hemp protein market is segmented into form and application. Based on form, the powder form segment holds the highest share during the forecast period, owing to healthy fatty acid content which stimulates energy generation & strengthens the immune system.
On the basis of application, the dietary supplements segment holds the highest share in the market, owing to the products containing proteins & healthy fiber & fats, which are essential for a healthy heart, brain, and skin.
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