According to the latest report by IMARC Group, titled “North America Hemp Market Size: Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026,” the north america hemp market expected to grow at a CAGR of around 18% during 2021-2026.
Hemp is a small, brown oilseed obtained from the Cannabis Sativa plant. It is rich in healthy fats, proteins, minerals, fibers and antioxidants. It is commonly used to enhance metabolism, boost immunity, reduce anxiety, and treat chronic pain. Consequently, it finds application in the production of pharmaceuticals, nutritional supplements, cosmetics, and food and beverages across the North American region.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
North America Hemp Market Trends:
At present, there is a significant rise in the prevalence of cancer in the North American region. This, in confluence with the increasing awareness among individuals about the nutritional benefits of hemp, is catalyzing the demand for hemp-based products. These products assist in relieving chemotherapy-induced nausea, fatigue and chronic pain in cancer patients. Apart from this, due to the growing vegan food trends, there is a considerable rise in the demand for plant-sourced alternatives, such as hemp-based vegan meat and hemp milk, across the region. The market is further influenced by the introduction of ready-to-eat (RTE) product variants, such as hemp-based cereals, smoothies, bars and yogurt.
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North America Hemp Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
BaFa Neu GmbH(Planete Chanvre), Dun Agro Hemp Group, Ecofibre, Gencanna, Hemp Inc., Hemp Oil Canada, Hempflax BV(Hempflax Group BV), Konoplex Group, Marijuana Company of America Inc. and U.S. HempCo.
The report has segmented the market on the basis on country, product type, application, source.
Breakup by Product Type:
- Hemp Seed
- Hemp Seed Oil
- CBD Hemp Oil
Breakup by Application:
- Snacks and Cereals
- Soup, sauces, and seasonings
- Dairy and frozen desserts
- Others (cold cereals, pasta, chocolate spreads, pet food)
- Hot Beverages
- Sports and Energy Drinks
- Others (Meal Replacement Drinks, Beverage Mixes, Beverage Concentrates, Juice Drinks)
- Personal Care Products
- Others (Paper, Automobiles, Construction and Materials, Furniture, etc.)
Breakup by Source:
Breakup by Country:
- United States
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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