Hexane-Free Protein Market Expected To Grow At 9.6 % CAGR Throughout The Forecast Period Of 2022-2031

The global  hexane free protein market  is expected to grow at 9.6 % CAGR throughout the forecast period of 2021-2031. Hexane was used to extract oil from oil seeds. Constant exposure to hexane damages nerves system. It also affects respiratory system and causes severe abdominal pain. Rising awareness towards health hazards related with hexane is pushing manufacturers towards adopting organic solvents for oil extraction. Government initiatives to curb the CO2 emission and reduce environmental stress due to animal farming will drive the hexane free protein market growth in upcoming years, evaluated ESOMAR-certified consulting firm Future Market Insights (FMI).

In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for hexane-free protein. The report tracks the global sales of hexane-free protein in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on the food and beverage industry in general, and hexane-free protein in particular.

American Heart Association and the American Institute for Cancer Research are advocating for the adoption of plant based food items. Consumers are demanding plant based proteins and increased spending towards organic products promotes hexane free protein market sales.

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“Researches have found that hexane free protein is beneficial in weight loss, it subsides blood sugar levels and offers relief from arthritis pain. With customer exhibiting increasing healthcare expenditure, rapid growth is on cards for hexane free protein market,” remarks the FMI analyst.

hexane free protein market price benchmark for key regions by product type segments, 2021

Key Takeaways

  • The U.S. hexane free protein market is forecast to grow at a rapid pace on the backs of rising demand of organic food items and increasing awareness regarding drawbacks of hexane on the human physiology.
  • Booming internet retailing and introduction of online payment methods has opened new avenues for hexane free protein market growth in Germany.
  • UK is expected to offer lucrative growth opportunities in hexane free protein market during the forecast period. Growth can be attributed to rising research indicating health benefits of hexane free protein consumption and surging demands for eco-friendly, chemical free food items especially among millennial population.
  • China dominates the East Asia hexane free protein market with 56% market share. The growth can be attributed to presence of leading manufacturers in the region along with growing customer preferences towards organic food products.
  • Rise in high disposable income and emergence of modern retail format makes India leader in South Asia hexane free protein market.

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Prominent Drivers

  • Increasing consumer inclination towards flexitarian diet and growing demand for meat and dairy substitutes triggers the market growth.
  • Growing awareness among customers regarding health benefits of organic and plant based proteins is expected to drive the hexane free protein market growth.
  • Hexane free protein is gaining popularity among sports and body building experts owing to its high solubility, high amino acids and no artificial preservatives fueling the market growth.

Key Restraints

  • Limited awareness and information regarding the harmful effect of hexane on human body will negatively influence the growth.
  • Lack of proper testing methods for hexane in plants hampers the market growth.
  • Allergies to certain food items hinder the hexane free protein market demand.

Competitive Landscape

Leading players profiled by FMI operating in hexane free protein market include Nutiva, Inc., Cargill, Inc., Austrade, Inc., New Protein Global Inc., Now Health Group, Inc., Form Ltd., Devansoy, Inc., Axiom Foods, Inc., Ingredion, Inc., ABF Ingredients, Merit Functional Foods, Milk Specialties Global, Healthy Hey LLP, Boomers Protein, Naked Nutrition among others.

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According to FMI, emerging economies are providing novel opportunities for hexane-free protein market expansion. Market players are also investing towards developing high quality protein and value added services to expand their product range.

For instance, Axiom Foods Inc. is a leading hexane-free protein manufacturer and offers high quality hexane-free, organic finished goods to its customers. Nutiva launched first hexane-free, US grown organic hemp seed in 2018. In doing so it became the first company in the world to achieve such feat.

Key Questions Answered in the Report

  • Which is the most lucrative market for hexane-free protein?
    Europe is the largest market for hexane-free protein, accounting for 50.6% of the total global hexane-free protein market.
  • In which form is hexane-free protein preferred more?
    Powder form of hexane-free protein accounted for US$ 102.9 Mn market value in 2021 and expected to grow at a CAGR of 9.6% during 2021-2031. It is also expected to remain the more preferred form of hexane-free protein through the course of the forecast period.
  • Which are some of the leading companies offering hexane-free protein market?
    Some of the leading companies offering hexane-free protein are Axiom Foods, Inc., Nutiva, Inc., ABF Ingredients, Cargill Inc, Ingredion Incorporated, Austrade, Inc., Now Health Group Inc., New Protein Global Inc., Merit Functional Foods, and others.
  • Who is the leading end user of hexane-free protein?
    The energy & sports nutrition account for maximum sales of the hexane-free protein. It is expected to remain the key end user through the coming years.

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