Hemp Business Projected Growth

Posted by SDIII on 2/25/2019
  • Hemp-based foods are generating significant new interest after the passage of the 2018 U.S. Farm Bill.
  • Between 2018-2020, global hemp-infused foods are forecast to grow 46%, from $353 million to $479 million.
  • The U.S. will lead, reaching $151 million by 2020, followed by China ($101 million) and Europe ($79 million).
  • Hemp foods rely on three convergent forces: more countries permitting legal cultivation and processing of hemp, surging investment fueling product innovation, and the scale and rising consumer interest in the plant's healthful nutrient profile.
  • Key to growth in the sector is how quickly mainstream retail channels will include grocery stores’ and big-box retailers’ carrying hemp-based foods. Growth will accelerate as consumers accept and gain easy access to the products.

Add Comment