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The global allergen free food market size is anticipated to reach US$ 75.67 Bn by the end of 2030. According to a study by Future Market Insights (FMI), the market is expected to depict a strong positive growth trajectory at 8.6% CAGR between 2020 and 2030.

As per the FMI report, the global allergen-free food market is estimated to surpass the valuation of US$ 46.4 Bn by the end of 2020. The industry is well positioned to register at least a 4% higher growth rate than the overall food & beverage sector.

The combined attribute of behemoth size and rapid growth has captivated leading companies in the global food & beverages sector as well as new entrants. This has created perplexed consumer preferences, and brands experience challenges in creating a differentiator in the global allergen-free food market.

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It includes in-depth insights into the allergen free food market. Some of these are:

• The estimated value of the market was at US$ 31,967.7 Mn in 2020. Through the course of the report’s forecast period, the market is projected to show an exceptional pace of growth.
• North America accounts for a dominant share in the allergen free food market. Europe also holds a sizable market share. East Asia is bound to offer business opportunities to emerging market players.
• Key players are likely to focus on product innovations and manufacturing technologies to widen their reach in emerging markets.
• Digital advertising and adoption of online sales channel to attract the millennial and Gen Z consumers are some of the key strategies of market players.

“The demand for allergen free food is expected to rise amidst the COVID-19 outbreak as consumers are striving to maintain a strong immunity to tackle the disease. Furthermore, revival of world economy would also result in increase of per capita income, which in turn will give impetus to market,” said a lead analyst at FMI.

Growing Health and Wellness Trend and Rise in Food Fortification will Drive Growth

Consumers have become quite health conscious and majority of them spend a significant portion of their disposable income on fitness and well-being. They have also become increasingly aware that along with exercise, a proper diet is necessary to achieve physical fitness.

Food fortification is enrichment of everyday foods with essential proteins, vitamins, and minerals. Consumer preference for such foods is a result of various factors such as rising incidence of lifestyle-related diseases and weight management.

High protein foods aid in maintaining consumer health. Gluten-free bakery products and snacks comprising protein and vitamin ingredients are gaining popularity among consumers. Thus, the trend food fortification is rising, which will in turn support the expansion of the allergen free food market.

The demand for organic food products is rising at a higher pace than supply, creating a gap between the demand and supply of organic food. Consumers are looking for produced without the use of any kind of fertilizers, pesticides, and chemical processing. Such farming and manufacturing practices are linked to deterioration of human health and environment.

The organic vegetables and fruits market happens to be the fastest growing one in the global food market. This is indicative of rising prospects for the sales of preservative-free, GMO-free and other allergen free food products.

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Who is Winning?

Some of the key players operating in the allergen free food market are Abbott Laboratories, Nestle SA, Danone SA, General Mills, Kellogg Co., Kraft Heinz Company, Mead Johnson Nutrition Company, and Boulder Brands,  Inc.

Due to the increasing competition, manufacturers are focusing on product portfolio expansion and improving product traceability. Besides this, some of the leading companies are focusing on entering into collaborations with regional/local manufacturers in the growing markets.

Get Valuable Insights into Allergen Free Food Market

Future Market Insights, in its new report, presents an unbiased analysis of the global allergen free food Market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the market. In terms of type, the market can be segmented into salad dressing, & mayonnaise. Based on applications, the market can be classified into food service, home-usage, and industrial. Regionally, the market can be segmented into North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East and Africa.

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Allergen Free Food Market Outlook & Key Findings

• FMI forecasts the market for allergen free food  to grow at an impressive 8.6% CAGR between 2020 and 2030
• Weaker brick & mortar retail inventory in first half of 2020, pushed consumers to online stores, which witnessed over 60% amplified demand for allergy-friendly food products
• Ad Spend in the first half of 2020 on three leading social media platforms increased by an average of 32% by top 50 brand, comparing against the first half of 2019
• Consumers evaluated brand familiarity, labelling and price of at least three brands before making the final purchase decision, revealed in Buyer’s Journey section of the FMI report
• Surprisingly, peanut free products were among top three sought after allergen free food product categories, apart from gluten free, dairy free
• Finding niches and frequent product launch are strategic priority of new entrants in the market, whereas established brands leverages on existing portfolio

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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According to the report, the market is expected to post impressive gains, expanding staggeringly at a CAGR exceeding 10% throughout the forecast period. Increasing construction and infrastructure development activities are spurring demand. ESOMAR-certified consulting firm Future Market Insights (FMI) has recently published a report on the global ceiling tiles market for the forecast period 2021-2031.

The market posed some lucrative gains in the historical forecast, surpassing US$ 26 billion in revenue as of 2018. Residential and commercial construction industries remain the primary application areas for ceiling tiles. Modern ceiling tiles are also equipped with features such as acoustic and thermal insulation, attributes which shall greatly enhance prospects for key manufacturers.

A major trend gripping the ceiling tiles landscape is the drive toward attaining sustainability in construction. The advent of green buildings is a notable development in this regard, with key players emphasizing attributes including sustainably sourced raw materials as well as using recycled substances to manufacture their products.

For instance, Celiume Tiles use 75% less raw material during the manufacturing process and produces 98% post-industrial recycled tiles.

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Key Takeaways from FMI’s Ceiling Tiles Market Study

• Mineral fiber/gypsum ceiling tiles accounted for over two-fifths of revenue share in 2020
• Commercial applications to account for over nine out of ten sales through 2021 and beyond
• By installation, drop/suspended ceiling tiles to enjoy heightened demand in forthcoming years
• By form, laminated ceiling tiles are expected to surge in popularity, amid their ease of installation on lightweight
• US to generate attractive growth prospects, underpinned by a flourishing housing sector
• Stringent government regulations to periodically upgrade ceiling material to spearhead UK market growth
• Growing infrastructure development projects to spur sales across India and China

“Mounting environmental concerns are prompting key construction companies to incorporate environmentally-friendly ceiling tiles, providing ample opportunities for manufacturers to expand their product lines,” remarks the FMI analyst.

Key Companies Profiled

• Armstrong World Industries
• USG Corporation
• Hunter Douglas
• SAS International
• CertainTeed
• Rockfon LLC
• Odenwald Faserplattenwerk GmbH
• Knauf, Georgia-Pacific LLC
• Saint-Gobain Gyproc

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Competitive Landscape

Prominent manufacturers are effectively deploying a slew of expansion strategies, ranging from customized product offerings to collaborations, mergers, and other capacity expansion initiatives. The market is highly competitive, given the presence of a wide range of regional and global level players.

In October 2020, CertainTeed launched its Unified Ceilings Solution, a newly realigned ceilings resource focused on the commercial architecture and design industry. The initiative unites the full ceiling and wall product portfolios of CertainTeed, Hunter Douglas, Ceiling & Wall Products, Norton Industries, and Decoustics under the umbrella of CertainTeed Architectural.

In March 2021, Rockfon LLC launched its loyalty program for suspended ceiling installers titled MyRockfon through which loyalty club members can earn rewards while purchasing Rockfon products, completing surveys, or sharing photos of their projects. This will provide the company with an opportunity to show that its products are for everyday projects across all sectors, including shops, offices, restaurants, and leisure facilities.

Ceiling Tiles Market Key Segments Covered

Material

• Aluminum
• Fiber Glass
• PVC
• Mineral Fiber/Gypsum
• Wood
• Steel

Application

• Residential
• Commercial
• Hospitality
• Industrial
• Institutional

Installation

• Surface Mount
• Drop/Suspended

Form

• Laminated
• Fissured
• Patterned
• Plain
• Textured
• Coffered

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More Insights on the Global Ceiling Tiles Market

In its latest report, FMI offers an unbiased analysis of the global ceiling tiles market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031.

In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of material (aluminum, fiberglass, PVC, mineral fiber/gypsum, wood, and steel), application (residential, commercial, hospitality, industrial and institutional), installation (surface mount and drop/suspended) and form (laminated, fissured, patterned, plain, textured and coffered) across five major regions.

About Future Market Insights, Inc.

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

Contact Us:

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The vegan and flexitarian population is increasing rapidly across the globe. Plant-based yogurts are being perceived as more sustainable and better for the environment as compared to dairy-based yogurts. Plant-based yogurt products are either made from nut-based milk or cereals, legumes, or seeds-based milk.

Nutritional value remains a key factor encouraging the purchase of plant-based yogurts; hence, customers tend to be more on the lookout for ingredients they don’t want in their food. This includes excess sugar or chemical-sounding ingredients. Manufacturers of plant-based yogurt are conducting various research for innovation in flavors, taste, and texture. They are making yogurt from several new bases, such as hemp or oat to exclusive flavors like mango and blueberry.

These yogurts are gaining traction in the plant-based food industry, leading to the market’s well-positioned growth.

In 2019, Springfield Creamery, Inc. based in Europe launched oat milk plant-based yogurt, which is gluten-free and delivers billions of probiotics per serving, the product contains 30-50% less sugar than competitors’ brands. In 2016, Anita’s Yogurt based in U.S. launched plant-based coconut milk yogurt with three flavors such as mango, blueberry, and plain. All the products are free of added sugar, preservatives, or additives.

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The FMI study delves deeper into the prevailing dynamics to offer interesting insights into the plant-based yogurt market. Some of these are:

Plant-based yogurt is available in many flavors such as vanilla, blueberry, raspberry, strawberry, and peach among others. The strawberry flavor is expected to grow at the highest CAGR of 14.7% over the forecast period. Europe and North America are expected to remain the dominant markets for plant-based yogurts. Acquisitions and partnerships by big giants will give significant impetus to the plant-based yogurt market across these regions. Consumers are seeing organic plant-based yogurts as a nutritious and healthy option to conventional yogurts. Organic plant-based yogurts are expected to witness high CAGR of 13.1% over the forecast period.

Consumers are becoming more aware of healthier ways of living. As a result, they prefer eating healthy and spending more on functional food than to spending on medical treatments. Increasing focus on health and wellness among consumers due to COVID-19 outbreak is expected to provide pace to plant-based yogurt market over the forecast period.

“Plant-based diet is trending and manufacturers are capitalizing on this opportunity by offering delicious plant-based yogurts in the market. The plant-based yogurt is becoming a promising alternative to conventional yogurts and are likely to witness significantly high demand in the coming years. Manufacturers are focussing on product quality, product innovations, and consistent product availability. They are also partnering with various retailers to make their products available across the world.” said a lead analyst at FMI

Increasing Demand for Plant-based Products Boosts Growth Prospects 

Plant-based yogurts are manufactured from sources such as legumes, seeds, nuts and grains, especially from soy, coconut, almond, and oats, which are all plant-based. Since the demand for plant-based ingredients and products is skyrocketing in the food and beverage industry, the non-dairy yogurt market is expected to witness significant growth.

Besides this, the increasing incidences of health issues associated with dairy products, increasing vegan and flexitarian population, and growing concern about animal welfare is leading to increasing market prospects for plant-based yogurts.

According to the Plant-based Food Association, in 2019 plant-based yogurts generated maximum sales in U.S. than other plant-based products such as milk, cheese, and butter among others. According to a Forbes report, animal milk and dairy products sales are declining rapidly with almost 11% drop as predicted in sales between 2015 and 2020.

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Market Segmentation

The global plant-based yogurt market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.

Nature

Conventional Organic

Product Type

Cereal Type Oat Rice Corn Spelt Legume Soy Pea Peanut Lupin Chick Pea Nut Almond Coconut Hazelnut Pistachio Walnut Cashew Pili Nut Seed Sesame Flax Hemp Sunflower Pseudo Cereal Quinoa Teff Amarnath Cassava

Flavour

Regular Vanilla Strawberry Blueberry Cherry Peach Raspberry Coconut Coffee Others

Price Range

Economic Mid-Range Premium

Sales Channel

Food Service Retail Modern Trade Convenience Stores Specialty Stores Discounters Independent Small Groceries E-commerce Others

Global

North America Latin America Europe East Asia South Asia Oceania MEA

Who is winning?

The plant-based yogurt market is consolidated with ~70%of its share belonging to tier 1 players. Although several new manufacturers have entered in the market, largest share of the market remains with top manufacturers, mostly belonging from the Europe and U.S. Manufacturers are engaging in increasing their product portfolio by expanding their operations to other regions by strengthening their distribution channels.

Furthermore, multinational companies are focusing on expansion of their manufacturing facilities, partnerships, and acquiring local players that would complement their product offerings.

In 2018, The Oatly AB opened its first production plant in U.S. to offer dairy-free products made from oats such as Oatgurt Natural, Oatgurt Vanilla, and Oatgurt Blueberry Raspberry among others to increase its revenue. In 2019, Valsoia S.p.A made a partnership with Nordic food to distribute its plant-based products in Europe. Nordic Foods will distribute 34 products in Romania through hypermarket and supermarket chains. In 2017, Danone S.A. acquired WhiteWave Foods to expand its plant-based product portfolio and strengthen its position in the U.S. plant-based product market.

Get Valuable Insights into Plant-based Yogurt Market

Future Market Insights, in its new report, presents an unbiased analysis of the global plant-based yogurt market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the market. Based on nature the market can be segmented into conventional and organic.

In terms of flavour, the market can be segmented into regular, vanilla, strawberry, blueberry, cherry, peach, raspberry, coconut, coffee, and others. Based on product type the market can be segmented into cereal type, legume, nut, seed, and pseudo cereal. Based on price range the market can be segmented into economic, mid-range, and premium. Based on sales channel the market can be segmented into food service and retail. Regionally, the market covers North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA.

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Plant-based Yogurt Market Outlook & Key Findings

Future Market Insights (FMI) forecasts a positive outlook for global plant-based yogurt market and projects a CAGR of 10% between 2020 and 2030 Plant-based snacks will secure hot-selling tag as consumers tilt in favor of healthy and vegan diet Over 50% of plant-based yogurt produced last year was derived from nut, finds FMI Despite availability in various flavors, regular plant-based yogurt will remain consumer favorites, accounting for nearly one-fourth of the market Other factors cited by FMI includes rising prevalence of lactose intolerance and a strong desire to align one’s food choices with environmental sustainability

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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As per the latest market research conducted by FMI, the global CBD oil market is expected to record a CAGR of 31% from 2023 to 2033. In 2023, the market size is projected to reach a valuation of US$ 389 million. By 2033, the valuation is anticipated to reach US$ 5,980.6 million.

The primary reasons propelling the market’s growth include rising demand and expanding legalization of cannabis, emerging applications of cannabis in cancer treatment, and the health advantages provided by products infused with cannabis. In the upcoming years, there are likely to be considerable development prospects for market participants due to the inclusion of cannabis in pet food and the rising demand for beverages with cannabis flavoring.

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Cannabis is also the illicit substance that is grown, transported, and misused the most extensively worldwide. Broad cannabis use, both for recreational and therapeutic purposes, has received increasing acceptability across the United States, as indicated by legislative actions, ballot measures, and public opinion polls. In particular, a recent Quinnipiac University poll found that 55% of the United States people surveyed supported cannabis legalization without any new restrictions. Comparatively, 82% of survey participants supported the decriminalization of cannabis for medical use. Demand will progressively rise as legalization continues to spread globally, boosting the expansion of the CBD-infused products market as a whole.

Competitive Background:

The key players operating in the CBD oil market are investing in mergers and acquisitions in order to gain a significant market share. The manufacturers are also investing in research and development, and are introducing innovative methods to boost production capacity. Product development and market expansion are significant aspects of the CBD oil market. As a result, market participants are likely to have a better overall revenue share in the global CBD oil market.

Key Takeaways:

• The CBD oil market is anticipated to reach a valuation of US$ 389 million in 2023.
• The high efficacy of CBD produced from hemp for various medical uses, including developing a therapy for Parkinson’s disease, is what drives demand for this market.
• The CBD oil market is predicted to record a CAGR of 31% through 2033.
• The CBD oil market is expected to surpass US$ 5,980.6 million by 2033.
• The CBD oil for pets market is being driven by entrepreneurs who are focusing on developing lotions, skin care, pet care, and textile products using cannabidiol.

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Significant Players in the Market Include:

• CV Sciences
• Medical Marijuana
• Aurora Cannabis
• Canopy Growth Corporation
• Canntrust
• Tilray
• Kazmira LLC

As the CBD oil market is in a nascent stage, market players are focusing on gaining maximum share by expanding their product portfolio through new product launches.

Recent Developments:

• CV Sciences Inc. launched “Plus CBD Gummies” at Natural Product Expo East 2018. These gummies are available in citrus punch and cherry mango flavors. These products comply with strict regulatory standards and are gluten-free and vegan-friendly.
• One Leaf, one of the top face mask manufacturers in China, has started executing social media and online marketplace promotional efforts for its CBD products.

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Key Segments Covered in CBD oil Market Study

Product Type:

• Hemp Oil
• Marijuana Oil

Application:

• Pharmaceuticals
• Food & Beverages
  • Gummies
  • Chewing Gums
  • Chocolate bars
  • Candies
  • Beverages
  • Dairy Products
  • Bakery Products
  • Snacks
• Cosmetics
• Others

Distribution Channel:

• Direct/B2B
• Indirect/B2C
• Hospital Pharmacy
• Retail Pharmacy
• Hypermarkets/Supermarkets
• Convenience Store
• Online Retail
• Others

Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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The global Coffee Grounds market is set to witness growth at a CAGR of 5.1% and is anticipated to reach a valuation of around USD 23.3 Bn by 2032.

Coffee grounds are a source of nitrogen that can aid in improving soil structure. To boost the fertility of the soil, they can be dispersed or mixed in. Adding coffee to the compost or worm bin is a common practice. This method aids in the creation of nitrogen-rich soil that is more fruitful for farming.

The benefits of coffee grounds for pest control and fertilization, as well as producers’ adoption of competitive pricing strategies, are propelling the coffee grounds industry ahead. Aside from that, the development of enticing packages and appropriate investment in coffee grounds advertising also helps to grow the business.

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Coffee, on the other hand, if consumed regularly, can boost cholesterol levels and cause hearing difficulties. As a result, the market for coffee grinds will be limited. Rising demand in the cosmetics industry is expected to drive up demand for coffee grounds in the near future.

The application of coffee beans in the pharmaceutical industry is boosting the global coffee bean market. Coffee bean intake has expanded as a result of the health advantages linked with it in the form of dietary supplements. Because green coffee beans are not roasted, they have a higher level of chlorogenic acid than other roasted and ordinary coffee beans. As a result, the use of green coffee beans in the form of weight-loss supplements has become increasingly popular among customers.

Key Takeaways from Market Study

• The market is segmented based on product type, wherein, Classic Roast Ground Coffee is anticipated to account for around 24.4% of the market share over the forecast period.
• The North American Coffee Grounds market is expected to witness a lucrative growth rate of 6.8% during the forecast period.
• East Asia is inferred to account for 16.9% of the global Coffee Grounds consumption through 2032.

“An increasing number of consumers expecting their products to be sustainable, organic and carbon-neutral the market of coffee grounds is projected to grow in the forecast period.” According to the FMI analyst.

Competitive Landscape

Businesses all over the world are focused on zero waste and circular economy concepts, which has led to the introduction of fresh coffee grounds. To strengthen their position in the coffee grounds industry, several of the biggest corporations are focused on product development and strategic alliances with developing enterprises. Aside from that, new introductions are projected to remain a priority during the forecast period.

Some of the key players operating in the Coffee Grounds market are Starbucks, USS, Death Wish Coffee Company, Foglers Coffee, Royal Kona, Jo Coffee, Hills Bros. Coffee, Peet’s, The Kraft Heinz Company, Kicking Hourse, Red Thread and others

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Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global Coffee Grounds market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

The study offers compelling insights based on the Coffee Grounds market by product type (drip ground coffee, classic roast ground coffee, sumatra ground coffee, others) by application (food and beverage, agriculture, cosmetic and personal care, insecticides and pesticides) & region across seven major regions of the world.

Coffee Grounds Market by Category

By Type, Coffee Grounds Market is Segmented as:

• Drip Ground Coffee
• Classic Roast Ground Coffee
• Sumatra Ground Coffee
• Others

By Application, Coffee Grounds Market is Segmented as:

• Food and Beverage
• Agriculture
• Cosmetic and Personal care
• Insecticides
• Pesticides

By Regional, Coffee Grounds Market is Segmented as:

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

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Frequently Asked Questions

• How Big is the Coffee Grounds Market?
• What is the CAGR of the Coffee Grounds Market for the period 2022- 2032?
• What is the North America Coffee Grounds Market share?
• What Are the Key Trends Shaping the Coffee Grounds Market?
• What are the key players in the Coffee Grounds Market?

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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By 2022, the hemp seed oil market is projected to be worth US$ 85 million, growing at a 7.6% CAGR between 2022 and 2032. Over the previous five years, the value of the worldwide hemp seed oil market increased at a CAGR of nearly 4.1%. The demand for hemp seed oil is anticipated to increase between 2022 and 2032 at a CAGR of around 7.6%.

According to the report, the rising demand for sustainable products will drive growth in the market. The report offers a holistic market overview intended to help stakeholders get a better look and the prevailing trends and opportunities. Besides examining investment feasibility across key segments, the study also analyses threats to the market.

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Hemp seed oil is gaining popularity due to its rich content of omega-3 and omega-6, which offer numerous health benefits. Hemp seed oil helps in reducing inflammation, causing diseases related to the heart and cancer. The rising awareness about hemp seed oil and its various health benefits have resulted in its increased application in cooking oils, sauces and salad oil, baked foods, and nutritional supplements.

Hemp seed oil has started gaining traction recently owing to approvals by regulatory bodies for human consumption. This, coupled with its health benefits of hemp seed oil, has led to the higher demand in the market.

It includes in-depth insights into the hemp seed oil market. Some of these are:
• The estimated value of the market was at US$ 61.6 Mn in 2020.
• Region wise, the East and South Asia emerged as a key markets for hemp seed oil.
• North America and Europe will continue leading the global market for hemp seed oil.
• Food & beverage segment is expected to remain dominant in terms of application.
• Key players are likely to focus on product innovations and expansion through merger to retain their positions in developed markets.

“Increasing use of hemp seed oil as active ingredient in various products is expected to bolster growth of hemp seed oil market. Health-conscious consumers are looking for botanicals and botanical ingredients that offer several health benefits compared to products containing synthetic ingredients. Hemp seed oil is naturally extracted from hemp seeds and is considered suitable for application in various food products, which is aiding the market’s expansion,” said a lead analyst at FMI.

Increasing Demand for Baked and Ready-to-Eat Products due to COVID-19 Outbreak will Support Growth

The demand for salads, soup, and baked foods is increasing as consumers are looking for healthier diet options. This is one of the key factors driving the market for hemp seed oil. Due to the sudden outbreak and unrestrained spread of COVID-19, consumers have become more vigilant about their food consumptions. Even their purchase decisions are influenced by the need of healthiness and wellbeing. Such fluctuating consumer preferences with changing trends are likely to reshape the overall hemp seed oil market.

Hemp seed oil has rich content of nutrients and essential fatty acids. It has vast application in food and beverage industry. For instance hemp seed oil is used in making of sauces, dessert toppings, salad oil. Owing to its numerous benefits for heart and brain health it is popularly used as cooking oil. The growing trend for organic products is further paving way for expansion of hemp seed oil market. Further wide application in cosmetics and personal care products is also bolstering market demand for hemp seed oil.

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Who is winning?

Some of the key players operating in the hemp seed oil market are Hemp oil Canada, Agropro, Maverik Oils, Nutiva Inc., Canopy Growth Corporation , Connolis, NP Nutra, 13 Seeds Hemp Farm, Eco fiber Limitged, Elixinol Global Limited, BOHECO.

Due to the increasing competition, manufacturers are focusing on expanding their product portfolio and filtering their process of extraction. Some of the major players like Canopy Growth, Hemp oil Canada, Ecofiber, Nutiva and others operate globally and manage their marketing activities such as promotion, product design, branding, packaging, pricing, and market research at a global scale. This helps them in developing the distribution network for goods and services in overseas markets, thus allowing these enterprises to earn higher profits.

Furthermore, manufacturers and suppliers of hemp seed oil target their customers based on their age, region, medical condition, spending power, dietary habits, and lifestyle. This is helping manufacturers and suppliers to position their products and is driving the hemp seed oil market. In addition to this, the common strategy adopted by market players includes acquisition and merging and they intend to expand their regional footprint through partnerships.

Market Segmentation

The Global hemp seed oil market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
Nature
• Conventional
• Organic
Grade
• Food grade
• Pharmaceutical grade
Extraction process
• Cold pressed hemp seed oil
• Refined hemp seed oil

End use
• Food & beverages
o Sauces and salad dressings
o Dessert toppings
o Baked foods
o Margarine
o Cooking oil
• Nutraceuticals
• Cosmetics & personal care
• Pharmaceuticals
• Industrial products
Region
• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa

Get Valuable Insights into Hemp seed oil Market

Future Market Insights, in its new report, presents an unbiased analysis of the global hemp seed oil market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into the growth witnessed in the market. In terms of nature, the market can be segmented into organic and conventional. Based on grade, the market can be classified into food grade and pharmaceutical grade. On the basis of the extraction process market is segmented as cold-pressed hemp seed oil and refined hemp seed oil. By the end use, the market is classified as food & beverages, nutraceuticals, cosmetics & personal care, pharmaceuticals, and industrial products. Regionally, the market can be segmented into North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East and Africa.

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Market Outlook& Key Findings
• Hemp seed oil market is anticipated to grow at nearly 19.5% in 2020 owing to rising awareness about its health benefits
• New product launches by key players, especially in the sanitizer segment will aid the expansion of the market. For instance, recently SinglePoint Inc. launched a hand sanitizer Klein, which is infused with hemp seed oil
• Key manufacturers are likely to invest in hemp seed oil as the market presents impressive growth opportunities backed by increasing applications of hemp seed oil
• The inclusion of hemp seed oil in vegan products is further boosting its demand
• Changes in the regulatory framework legalizing the use of hemp seed oil for human consumption is likely to create growth opportunities for market players

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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