Hemp has been utilized as a source of oil and an exceptional source of fiber. Hemp seeds are loaded with vitamins, proteins, and minerals. Hemp seeds are the only edible seeds with GLA (gamma-linolenic acid). Hemp seeds and oil are utilized in other nations, counting in Canada, Europe, and the U.S., in many foods. Hemp products are even being integrated into automotive modernizations, for instance, BMW at present experimenting with utilizing hemp in biodegradable plastic for fittings and dashboards. The hemp-based food products have obtained enormous popularity owing to their easy digestibility by dint of being gluten-free, allergen-free, GMO-free (genetically modified organisms), phytoestrogen, lactose, and pesticides. Hemp is an ideal source of vitamins, minerals—such as magnesium, zinc, and iron. The intake of hemp-based food products helps in the maintenance of a strong digestive system that further constrains the global market across emerged regions like Europe and North America.
Hemp seeds are a very nutritious source of protein and are being utilized in packaged foods like pretzels, granola bars, cereals, and bread. Their increased use in different foods like corn chips, nut butter, and snack bars is likely to spur the market in the upcoming years. Also, hemp seeds are loaded with amino acids that made such products a good choice for vegan and health-conscious customers. Hemp-based food is thriving as the vital source of protein for vegans owing to its enhanced digestibility compared to other plant proteins. Other than that, hemp seeds can be easily added to baked food items, salads or soups.
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The vegan lifestyle powerfully supports animal rights & environment-friendly lifestyle preferences. The vegan diet includes vegetables, fruits, legumes, whole grains, seeds, and nuts as alternates for dairy, meat, and other conventional sources of protein. The increasing vegan population and celiac disease patients will be one of the key aspects that will have a constructive impact on the global market in the upcoming years. Hemp seeds are considered to be fine protein sources and many manufacturers have begun to add vegan tags on the packaging of the hemp products to increase the vegan consumer base. In addition, the augmenting celiac diseases in nations such as the U.S. have resulted in increasing gluten-free diets. This increases the demand for hemp since it is naturally gluten-free and products like hemp oil, seed, and proteins in the packaged food & beverage are surging at a significant rate.
The augmenting demand for organic hemp-based foods is one of the major movements that will contribute to market development in the upcoming years. The increasing health consciousness and the damaging effects of ingredients utilized in the food & beverage industry have lifted the demand for organic food products. This movement is extremely apt for hemp food products, and several players are manufacturing organic hemp food products to serve the increasing consumer base.
The global hemp-based food market is tremendously competitive with the incidence of several small-scale and large-scale vendors who contend with each other about product differentiation, price, quality, distribution, innovation, and brand promotion. On a related note, MYKU Biosciences obtained the USDA (United States Department of Agriculture) organic certification for the hemp-based CBD (cannabidiol) products.