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.