Hemp Seed Peptide: Market Introduction
Hemp is a plant grown in the northern hemisphere that belongs to the same family as marijuana but is distinct from it. Marijuana is cultivated to contain high levels of tetrahydrocannabinol (THC), a chemical responsible for its psychoactive properties whereas hemp is grown for non-drug use and contains only a small amount of THC.
The hemp seeds are used to produce a variety of products such as hemp milk, hemp oil, hemp-based protein powder. These seeds compose approximately 45 percent oil, 35 percent protein, and 10 percent carbohydrate and are eco-friendly as they are cultivated without the use of herbicides, fungicides, and pesticides. These seeds are a complete source of protein, as they provide all essential amino acids required by the human body.
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The wide range of hemp seed peptide application in food and beverage, cosmetics, nutraceuticals, and pharmaceuticals has concentrated on expanding the market across the world. Hemp peptide also has a range of health benefits that increase its demand in the pharmaceutical industry.
Research has shown that eating plant-based protein can help reduce the risk of diseases such as cardiovascular disease and cancer. In addition, it has a variety of other benefits, such as an immune system booster, weight suppressant, and the ability to reduce blood pressure and cholesterol, contributing to market growth over the forecast period.
The seeds of hemp are edible and are highly nutritious with high fiber content. Hemp proteins minimize the risk of constipation, heart disease, type 2 diabetes, and diverticular disease. Health benefits of hemp proteins include anti-fatigue effects, strengthens the immune system, and protect the kidneys. These promote normal bone health, increased and sustained energy, rapid recovery from disease or injury.
The food & beverage segment is predicted to have the largest market share over the forecasted period owing to the high fiber and protein in hemp seed. Hemp proteins are easily digestible and used as an active ingredient in shakes and smoothies.
Growth in the market is motivated due to improving economic conditions, combined with a rise in household income, which has caused consumers to be able to spend on foods rich in hemp proteins to maintain their health. The cosmetics industry is also increasing the demand for hemp proteins due to the essential quality of amino acids as well as the fibers that are the main ingredients for skin and hair products.
Global Hemp Seed Peptide Market is Experiencing increasing Demand as COVID-19 Outbreak
COVID-19 has significantly impacted food and beverage industry, including hemp seed peptide. Business are affected as manufacturing industries are finding difficult to sustain.
Although the benefits of the hemp seed like, boosting the immune system, increasing metabolic rate are enabling growth in the market. The demand and supply of Hemp seed peptide products have been impacted; thus, these factors are leading to decline in the market growth.
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Segmentation Analysis of Global Hemp Seed Peptide Market
Global Hemp Seed Peptide Market is bifurcated into four major categories: application, product, form, and region.
On the basis of application, the global market for hemp seed peptide is divided into:
- Pharmaceutical
- Food & Beverages
- Cosmetics
- Industrial
- Others
On the basis of product, the global market for hemp seed peptide is divided into:
- Hemp oil
- Hemp protein
- Hemp milk
On the basis of form, the global market for hemp seed peptide is divided into:
- Powder
- Liquid
Based on the region, the global market for hemp seed peptide is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Hemp Seed Peptide Market: Regional Outlook
The United States is a leading market for hemp seed peptide in the North American region. Asia is expected to be the fastest-growing region on the hemp seed peptide market due to increased demand from China and India.
Leading producers in the hemp seed peptide industry are focused on leveraging opportunities for emerging economies like India and China to extend their revenue base.
Hemp Seed Peptide Market: Competition Outlook
Key players operating in the market include Navitas Organics, Blue Sky Hemp Ventures, Nutraonly (Xi’an) Nutritions Inc, ETChem, Manitoba Harvest Hemp Foods, Naturally Splendid Enterprises Ltd., North American Hemp & Grain Co. Ltd, Victory Hemp Foods, Trilogeneseeds, Hemp Genetics International.
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