The report covers forecast and analysis for the hemp juice market on a global and regional level. The study provides historic data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the hemp juice market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities and various trends in the hemp juice market on a global level.
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As per the report, the global demand for hemp juice market was valued at approximately USD 216 million in 2018 and is expected to generate revenue of around USD 380 billion by end of 2025, growing at a CAGR of around 8.4% between 2019 and 2025.
Hemp is a type of plant species of Cannabis sativa specifically grown for industrial purposes. It is cultivated for its nutritional and healing properties. Most manufacturers of hemp juice use specialized low-speed juicers for the extraction of hemp juice, preserving cellular structure of hemp plant, and eliminate oxidation that conserves the precious nutrients and enzymes in hemp. Hemp juice is a functional food which, over and above basic nutrition, has a positive effect on health such as it speeds up cellular recovery and acts as a building material.
Consuming hemp juice improves well-being and restores people’s healthy lifestyle, which, in turn, is driving the market. The hemp juice market is also driven by health benefits as it boosts the body’s immune system by providing antioxidants, enhance energy levels, improve health, and deliver a strong combination of omega acids, vitamins, minerals, and other essential nutrients. Increasing spending on lifestyle in developed countries is likely to create more opportunities for global hemp juice market. Less awareness about hemp juice and its benefits in developing regions such as Latin America and Africa is expected to be a challenge for the hemp juice market.
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The global hemp juice market is classified into nature, form, end-use, and distribution channel. By nature type, the global hemp juice market is classified into organic and conventional. By form type, the global hemp juice market is segmented into powder and liquid. By end-use, the global hemp juice market is divided into household and commercial. Further, the commercial segment is divided into pharmaceutical, cosmetics, personal care, and others. By distribution channel, the global hemp juice market is divided into direct sales and indirect sales. Indirect sales segment is classified into hypermarket/supermarket, specialty stores, online retailers, and others.
North America is anticipated to have the largest share in the global hemp juice market. Increasing hemp juice demand due to increased consumer spending on quality lifestyle has been a major driving factor for hemp juice market. Asia Pacific is anticipated to witness the highest CAGR over the forecasted period. Rising awareness about hemp juice benefits among young population dealing with health problems and hectic lifestyle is expected to attract a majority of population in South Asia Pacific region. Europe accounted for a considerable share of global hemp juice market. Further, the increase in chronic disease prevalence is likely to boost the demand for hemp juice in the European region. Moreover, in the course of the forecast period, the presence of various hemp producers who strive to introduce hemp juice in Europe should further stimulate industry growth. Latin America and the Middle East and Africa regions are expected to have slower growth in hemp juice market due to lack of awareness about hemp and hemp-based products.
Some major players operating in the global hemp juice market include Blue Moon Hemp, Cloud 9 Hemp, Sana Hemp Juice, HANOJU Deutschland, Portland Juice, Hemp CBD, and Palmetto Harmony Limited.
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Global Hemp Juice Market: Nature Analysis
Global Hemp Juice Market: Form Analysis
Global Hemp Juice Market: End-Use Analysis
- Personal Care
Global Hemp Juice Market: Distribution Channel Analysis
- Direct Sales
- Indirect Sales
- Specialty Stores
- Online Retailers
Global Hemp Juice Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa