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Growth Trends of the Global Hemp Nutraceutical Market

12/03/2021 | hempmarket
heading_title

In 2020, the global hemp nutraceutical market, estimated at $ 2.9 billion, will reach $ 11.8 billion by 2027. Of the above amount, $ 9.2 billion will be accounted for by solid food products, the total production of which will increase by 22.5% on average annually over the next five years.

One of the American consulting companies tried to analyze the global hemp nutraceutical market in order to determine the dominant trends in it, as well as to create a predictive model for the development of this segment of modern cannabis growing. Taking into account the interest of consumers in the most simple, cheap and effective use of the therapeutically active properties of the hemp plant in our country, the predictive information obtained in the course of the research of our American colleagues is sure to be of interest to the representatives of the Ukrainian hemp market.

In 2020, the global hemp nutraceutical market, estimated at $ 2.9 billion, will reach $ 11.8 billion by 2027. Of the above amount, $ 9.2 billion will be accounted for by solid food products, the total production of which will increase by 22.5% on average annually over the next five years. On average, the global market for food products, which will be based on the leaves and inflorescences of the hemp plant, will grow by 21.9% annually over the next six years.

The market for food products made from cannabis leaves and inflorescences in the United States reached $ 863.1 million in 2020. The second largest Chinese economy in the hemp nutraceutical segment will grow annually over the next 6 years with an average annual growth rate of 21. 8% and by 2027 will reach values ​​of $ 2.1 billion. Markets of hemp nutraceuticals, according to forecasts of American analysts, will grow in Canada and Japan, respectively, by 19 and 19.9 percent annually. In Europe, the average annual growth rate of this market is projected at 15.6%.

Commentary of the specialists of the Association "Ukrainian technical hemp"

Hemp nutraceuticals are food products or food / dietary / biologically active additives made on the basis of therapeutically active elements of the hemp plant. These products are not only tasty and healthy products, but also having significant therapeutic properties have a positive effect on both the physiological and mental state of consumers, in a significant number of cases, effectively influencing the treatment of a huge range of diseases or providing a powerful healing effect on the consumer's body. Within the framework of the 6th stream of listeners of "Hemp University" , this topic will be revealed in maximum detail during the round table " Problems and prospects of using therapeutically active elements of hemp as a basis for nutraceuticals, medicinal cosmetics, animal feed or other products with healing properties of the plant. ".