Hemp protein powder market to exceed $530 million by 2032 due to growing demand

From GlobeNewswire: 2024-12-11 06:00:00

The hemp protein powder market is projected to surpass USD 530 million by 2032. This growth is driven by the demand for plant-based protein options, particularly among health-conscious consumers. Hemp protein powder is known for its nutritional benefits and eco-friendly nature, appealing to those focused on fitness and sustainability.

The market for hemp protein powder is expanding beyond health supplements to include a wide range of products like smoothies, baked goods, and personal care items. This versatility is driving its adoption among various consumer segments globally, as more people recognize the health benefits and sustainability of hemp protein.

In the conventional hemp protein powder segment, valued at USD 108.2 million in 2023, a 14% CAGR is expected from 2024 to 2032. This segment dominates due to established farming practices and widespread consumer recognition. Conventional hemp protein is sought after for its affordability, quality, and nutritional benefits, making it popular among fitness enthusiasts and health-conscious individuals.

The U.S. hemp protein powder market, valued at USD 39.2 million in 2023, is set to grow at a 14% CAGR. The country’s advanced agricultural infrastructure and increasing awareness of plant-based nutrition are driving this growth, establishing the U.S. as a leader in the industry.

The offline retail segment, valued at USD 91.6 million in 2023, is also expected to grow at a 14% CAGR. Physical retail remains popular due to personalized shopping experiences, in-store promotions, and trusted brand selections that enhance consumer confidence and loyalty.



Read more at GlobeNewswire: Hemp Protein Powder Market to reach $530 Mn by 2032, Says