Cannabis
Global Refurbished and Used Mobile Phones Market Size/Share Worth 146.43 Billion by 2030 at an 11.45% CAGR: Custom Market Insights (Analysis, Outlook, Leaders, Report, Trends, Forecast, Segmentation, Growth)
Sandy, Utah, USA, Oct. 25, 2022 (GLOBE NEWSWIRE) — Custom Market Insights has published a new research report titled “Refurbished and Used Mobile Phones Market Size, Trends and Insights By Type (Refurbished Phones, Used Phones), By Pricing Range (Low-priced, Mid-priced, Premium), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” in its research database.
“According to the latest research study, the demand for global Refurbished and Used Mobile Phones Market size & share was valued at approximately USD 52.34 Billion in 2021 and is expected to reach a value of around USD 146.43 Billion by 2030, at a compound annual growth rate (CAGR) of about 11.45% during the forecast period 2022 to 2030.”
A used smartphone that has been returned to the manufacturer is refurbished. After testing and inspecting the devices’ internal and external states, the business remanufactures them into new-looking gadgets.
Once a smartphone has some damage, it gets discarded and dumped in landfills. However, if it is repaired and sold, it will have had an opportunity to live. Any smartphone with even a few dings or scrapes should never be discarded since it is incredibly harmful to the environment. Many smartphone components are made of plastic, and we all know how difficult it is to harm lithium-ion batteries. Therefore, it would be preferable to sell these as refurbished phones that could be offered at a lower cost while still being in excellent shape.
Click Here to Access a Free Sample Report of the Global Refurbished and Used Mobile Phones Market @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=18409
Additionally, individual farmers have the option of setting greater requirements, even going so far as to have the amounts of CBC and CBG in their samples evaluated. Only accredited laboratory technicians and chemists are qualified to conduct these tests. Until recently, cannabis cultivation and sales were prohibited on a global scale. Today, several nations are eliminating their bans on cannabis because they understand its medicinal benefits.
(A free sample of the Refurbished and Used Mobile Phones report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
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- Provide detailed chapter-by-chapter guidance on the Request
- Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Custom Market Insights (CMI) research methodology
(Please note that the sample of the Refurbished and Used Mobile Phones report has been modified to include the COVID-19 impact study prior to delivery.)
Beginning with attracting internet commerce, facilitating correspondence, and completing the growth of digitalization, cell phones have become an essential component of people’s life. Modern buyers who are well-informed gravitate toward high-quality, advanced mechanical hardware. Unfortunately, due to the short upgrade cycle, many buyers are unwilling to commit much time to their new devices.
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Market Dynamics
Drivers.
Modern shoppers who are well-educated gravitate toward high-quality, advanced mechanical hardware. Due to the short upgrade cycle, many buyers prefer to commit more time to their new devices. As a result, a sizable portion of the population is demonstrating a preference for secondhand mobile phones, which have their desired features at an affordable price. It is widely acknowledged that factors driving the global market for refurbished and used mobile phones include increasing economies, growing demand for low-priced commodities, and growing consumer acceptance of smartphones.
In addition, increasing consumer dependency on electronic devices in developing countries is necessary to support demand in the global market for refurbished and used mobile phones. Manufacturers of smartphones in developing nations are investing resources in new work to produce high-quality mobile phones that will quickly satisfy customer mechanical demands. Additionally, such a factor is anticipated to promote the global market for refurbished and used mobile phones.
The market for used mobile devices is more minor than first thought. But, on the contrary, it is progressively becoming the new standard and moving into the mainstream electronics retail arena.
The growth has been exploding as the demand has been increasing. Across all regions, the practicality of used gadgets has equally infiltrated and opened up new use-case possibilities. For several reasons, including a lack of precious metals, cost-conscious consumers, increased access to high-quality refurbished devices, the availability of quality assurance and warranty, and environmental concerns, Asia is predicted to be one of the top markets for refurbished smartphones in the coming years.
A reconditioned product will generate more interest and build the ecosystem if it can give the customer the best possible value, establish a reputation, and offer proactive after-sales services. Hence, this is driving the market for used smartphones market.
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Due to the massive smartphone adoption in emerging nations, the demand for refurbished smartphones has increased significantly in recent years. As a result, there is a greater emphasis on developing distribution channels and acquiring customers to preserve a competitive edge and market share. It is believed that increasing emerging markets in developing nations, increased consumer desire for low-cost items, and rising smartphone penetration all impact the worldwide market for refurbished and used mobile phones.
Key questions answered in this report:
- What is the size of the Refurbished and Used Mobile Phones market and what is its expected growth rate?
- What are the primary driving factors that push the Refurbished and Used Mobile Phones market forward?
- What are the Refurbished and Used Mobile Phones Industry top companies?
- What are the different categories that the Refurbished and Used Mobile Phones Market caters to?
- What will be the fastest-growing segment or region?
- In the value chain, what role do essential players play?
- What is the procedure for getting a free copy of the Refurbished and Used Mobile Phones market sample report and company profiles?
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Restraints
The availability of low-quality mobile phones and growing customer security concerns are the main factors limiting industry expansion. The low-quality products also threaten the environment as they contain a high quantity of plastics in them.
Opportunities
Consumers’ growing reliance on inexpensive, high-quality smartphones is opening up new market expansion prospects. In addition, consumers are technology-oriented and do not want to invest in a lump sum, creating new opportunities for the Refurbished and Used Mobile Phones market.
Challenges
The market for refurbished smartphones faces challenges throughout the forecast period due to the widespread availability of smartphones in online stores. Online stores, including Walmart Inc., eBay Inc., and Amazon.com, Inc. (Amazon), provide a variety of cell phones at a discount. Additionally, they collaborate with nearby banks to offer discounts via credit and debit cards. They also provide discounts during holidays and the summer, attracting many customers. As a result, the growth of e-commerce companies might have a detrimental effect on the market for refurbished cell phones.
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Report Highlights
Based on type, the refurbished phones category is expected to grow at the most significant CAGR and will be in a dominant position in the future. This is because many buyers are drawn in by the low prices and discounts sellers offer on refurbished phones. This is driving the market.
Based on the pricing range, the mid-priced segment is leading and is expected to contribute to the refurbished smartphone market. This is attributed to the fast-expanding e-Commerce platforms and the good EMI alternatives for customers purchasing old mobile phones in the midrange price band. On the other hand, the widespread usage of semiconductors and the entrance of new competitors have reduced the cost of producing portable reconditioned gadgets.
Regional Snapshots
Asia-Pacific held a dominant position and is predicted to dominate during the forecast period in the refurbished smartphones market due to the area’s increasing infrastructure development. The demand for refurbished and used mobile phones in this region may also be driven by rising urbanization, a growing number of tech-savvy people, and quick technical improvements. In China, the usage of reconditioned and used mobile phones has become very popular over time.
China is now one of the nations making significant investments in reselling old and refurbished cell phones. Many buyers and resellers find selling or renovating mobile devices through conventional channels challenging. E-Commerce is proving to be the most refined platform for buyers and shoppers under these circumstances. These reasons are driving the refurbished smartphone market in this region.
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Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 52.34 billion |
| Projected Market Size in 2030 | USD 146.43 billion |
| CAGR Growth Rate | 11.45% CAGR |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Prominent Players | Apple Inc., Amazon, Samsung, Verizon Communications Inc., Cashify, Walmart, eBay, Paytm, Huawei, Yaantra, AT&T Inc., and Others |
| Key Segment | By Type, Pricing Rang, and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. Buying Options |
Key Players
- Apple Inc.
- Amazon
- Samsung
- Verizon Communications, Inc.
- Cashify
- Walmart
- eBay
- Paytm
- Huawei
- Yaantra
- AT&T Inc.
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Recent Developments
Around 30 of Walmart’s physical locations now offer refurbished iPhones, iPads, and other Apple gadgets as part of the company’s In-Store test program. The program’s member retailers provide goTRG-certified refurbished Apple goods with a 12-month guarantee.
Segments covered in the report
By Type
- Refurbished phones
- Used phones
By Pricing Range
- Low-priced
- Mid-priced
- Premium
Click Here to Access a Free Sample Report of the Global Refurbished and Used Mobile Phones Market @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=18409
On the basis of Geography
North America
- The U.S.
- Canada
- Mexico
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
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This Refurbished and Used Mobile Phones Market Research/Analysis Report Contains Answers to the following Questions.
- Which Manufacturing Technology is used for Refurbished and Used Mobile Phones? What Developments Are Going on in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This Refurbished and Used Mobile Phones Market? What are Their Company Profile, Their Product Information, and Contact Information?
- What Was the Global Market Status of the Refurbished and Used Mobile Phones Market? What Was the Capacity, Production Value, Cost and PROFIT of the Refurbished and Used Mobile Phones Market?
- What Is the Current Market Status of the Refurbished and Used Mobile Phones Industry? What’s Market Competition in This Industry, Both Company and Country Wise? What’s Market Analysis of Refurbished and Used Mobile Phones Market by Considering Applications and Types?
- What Are Projections of the Global Refurbished and Used Mobile Phones Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
- What Is Refurbished and Used Mobile Phones Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact on Refurbished and Used Mobile Phones Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are the Market Dynamics of the Refurbished and Used Mobile Phones Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Refurbished and Used Mobile Phones Industry?
Directly Purchase a copy of the Refurbished and Used Mobile Phones report [220+ Pages] @ https://www.custommarketinsights.com/report/refurbished-used-mobile-phones/
Reasons to Purchase Refurbished and Used Mobile Phones Market Report
- Refurbished and Used Mobile Phones Market Report provides qualitative and quantitative market analysis based on segmentation involving economic and non-economic factors.
- Refurbished and Used Mobile Phones Market report outlines market value (USD) data for each segment and sub-segment.
- This report indicates the region and segment expected to witness the fastest growth and dominate the market.
- Refurbished and Used Mobile Phones Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
- The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
- Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
- The Industry’s current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
- Refurbished and Used Mobile Phones Market Includes in-depth market analysis from various perspectives through Porter’s five forces analysis and provides insight into the market through Value Chain.
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Reasons for the Research Report
- The study provides a thorough overview of the global Refurbished and Used Mobile Phones market. Compare your performance to that of the market as a whole.
- Aim to maintain competitiveness while innovations from established key players fuel market growth.
What does the report include?
- Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Refurbished and Used Mobile Phones market analysis.
- The competitive environment of current and potential participants in the Refurbished and Used Mobile Phones market is covered in the report, as well as those companies’ strategic product development ambitions.
- According to the component, application, and Industry Vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.
- For each segment mentioned above, actual market sizes and forecasts have been given.
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Who should buy this report?
- Participants and stakeholders worldwide Refurbished and Used Mobile Phones market should find this report useful. The research will be useful to all market participants in the Refurbished and Used Mobile Phones Industry.
- Managers in the Refurbished and Used Mobile Phones sector are interested in publishing up-to-date and projected data about the worldwide Refurbished and Used Mobile Phones market.
- Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Refurbished and Used Mobile Phones products’ market trends.
- Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.
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Cannabis
Europe Medical Cannabis Market Forecast 2024-2032: Tilray, Aurora Cannabis, and GW Pharmaceuticals Dominate the Market Landscape
Dublin, Aug. 29, 2024 (GLOBE NEWSWIRE) — The “Europe Medical Cannabis Oil Market Size, Industry Dynamics, Opportunity Analysis and Forecast 2024-2032.” report has been added to ResearchAndMarkets.com’s offering.
The Europe Medical Cannabis Oil market is poised for significant growth, projected to escalate from US$ 0.91 billion in 2023 to US$ 2.40 billion by 2032, advancing at a CAGR of 12.08%. In this comprehensive research report, the market is analyzed by:
- Derivatives;
- Source;
- Application;
- Route of Administration;
- End-user;
- Distribution Channel; and
- Country.
Market Highlights Identified in the Report
- Progressive legalization across Europe is creating a favorable regulatory environment, enhancing market expansion for medical cannabis oil products.
- Germany leads the market with a robust infrastructure and supportive regulations, while other countries like the UK, Italy, and Spain show significant growth potential based on evolving regulatory landscapes and market dynamics.
- Key players such as Tilray, Aurora Cannabis Inc., and GW Pharmaceuticals dominate the market, emphasizing research, strategic partnerships, and innovation to maintain competitive edge amidst evolving industry dynamics.
The medical cannabis oil market has experienced substantial growth as legalization and acceptance of cannabis-based treatments expand globally. Cannabis oil, derived from the cannabis plant through extraction methods, contains cannabinoids such as THC and CBD, known for their therapeutic properties. Increasing recognition of cannabis oil’s potential in alleviating symptoms of various medical conditions, including chronic pain, epilepsy, and anxiety disorders, has driven its adoption in medical settings.
Governments in several countries are progressively legalizing medical cannabis, creating a conducive regulatory environment for market expansion. Additionally, growing consumer awareness about alternative and natural therapies has fueled the demand for cannabis oil products. The market is characterized by diverse product offerings, including full-spectrum and CBD-isolate oils, catering to different therapeutic needs and preferences.
Despite regulatory challenges and stigma associated with cannabis, the medical cannabis oil market continues to evolve, driven by ongoing research, favorable legislative changes, and shifting attitudes toward cannabis-based therapies in healthcare.
Regional Insights
Germany is likely to maintain its leadership position in the European medical cannabis oil market due to its established infrastructure, supportive regulations, and strong healthcare system. Germany legalized medical cannabis in 2017, giving the market a head start compared to many other European countries. This established infrastructure and experience position Germany as a leader in the field. As awareness and acceptance of medical cannabis increase, the number of patients seeking treatment in Germany is steadily rising. This fuels market growth and incentivizes further investment in research and development.
Germany’s regulatory framework for medical cannabis is considered relatively patient-friendly compared to some other European countries. This facilitates access for patients with qualifying conditions. The UK legalized medical cannabis in 2018 and is experiencing an increase in patient access programs. This, coupled with ongoing research, could lead to significant market growth. Italy legalized medical cannabis in 2006 but has faced challenges with availability. As regulations become more streamlined and patient access expands, the Italian market holds significant growth potential. Spain has a well-established medical cannabis industry with a focus on domestic production. As regulations evolve and export opportunities increase, the Spanish market could see a boost.
Competitive Landscape
The Medical Cannabis Oil market is characterized by a vigorous competitive landscape, with prominent entities like Tilray, Aurora Cannabis Inc., GW Pharmaceuticals, Almiral, Bedrocan, and others at the forefront, collectively accounting for approximately 41 % of the overall market share. This competitive milieu is fueled by their intensive efforts in research and development as well as strategic partnerships and collaborations, underscoring their commitment to solidifying market presence and diversifying their offerings.
The primary competitive factors include pricing, product caliber, and technological innovation. As the Medical Cannabis Oil industry continues to expand, the competitive fervor among these key players is anticipated to intensify. The impetus for ongoing innovation and alignment with evolving customer preferences and stringent regulations is high. The industry’s fluidity anticipates an uptick in novel innovations and strategic growth tactics from these leading corporations, which in turn propels the sector’s comprehensive growth and transformation.
Key Topics Covered
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Europe Medical Cannabis Oil Market
Chapter 4. Europe Medical Cannabis Oil Market Overview
Chapter 5. Europe Medical Cannabis Oil Market Analysis, by Derivatives
Chapter 6. Europe Medical Cannabis Oil Market Analysis, by Source
Chapter 7. Europe Medical Cannabis Oil Market Analysis, by Application
Chapter 8. Europe Medical Cannabis Oil Market Analysis, by Route of Administration
Chapter 9. Europe Medical Cannabis Oil Market Analysis, by End-user
Chapter 10. Europe Medical Cannabis Oil Market Analysis, by Distribution Channel
Chapter 11. Europe Medical Cannabis Oil Market Analysis, by Country
Chapter 12. The UK Medical Cannabis Oil Market Analysis
Chapter 13. Germany Medical Cannabis Oil Market Analysis
Chapter 14. The Netherlands Medical Cannabis Oil Market Analysis
Chapter 15. Italy Medical Cannabis Oil Market Analysis
Chapter 16. Spain Medical Cannabis Oil Market Analysis
Chapter 17. Poland Medical Cannabis Oil Market Analysis
Chapter 18. Rest of Europe Medical Cannabis Oil Market Analysis
Chapter 19. Company Profiles (Company Overview, Financial Matrix, Key Product Landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
A selection of companies mentioned in this report includes, but is not limited to:
- Aurora Cannabis Inc.
- Bedrocan
- Biocann
- BIOTA Biosciences LLC
- Cannamedical
- Mary Jane CBD
- Sanity Group GmbH
- Tilray
- Valcon Medical
For more information about this report visit https://www.researchandmarkets.com/r/dh7q46
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Cannabis
Cannabis Cultivation Market – Global Food Additives, Oils, Tinctures, Cannabis Indica, Cannabis Sativa Forecast 2024-2030
Dublin, Aug. 28, 2024 (GLOBE NEWSWIRE) — The “Global Cannabis Cultivation Market by Product (Food Additives, Oils, Tinctures), Type (Cannabis Indica, Cannabis Sativa), Source, Application – Forecast 2024-2030” report has been added to ResearchAndMarkets.com’s offering.
The Cannabis Cultivation Market grew from USD 3.64 billion in 2023 to USD 4.15 billion in 2024. It is expected to continue growing at a CAGR of 14.09%, reaching USD 9.17 billion by 2030.
This process requires careful attention to the plant’s life cycle, from germination to harvesting, including the control of environmental factors such as light, temperature, humidity, soil pH, and nutrients. The proliferation in cannabis cultivation has been primarily fueled by the expanding legalization of cannabis for both medical and recreational use, which has driven demand and facilitated the establishment of a legal market. Innovations in cultivation technology, such as hydroponics and LED lighting, have also contributed to the sector’s growth, alongside an increasing social acceptance of cannabis consumption.
However, compliance with diverse state and federal laws and the financial burden of taxation and licensing fees add complexity for cultivators, impeding their development. Thus, the industry is investing in more sustainable practices, such as the use of renewable energy and water recycling systems. Advancements in genetic modification and breeding may lead to new cannabis strains with unique properties, catering to a wider range of consumers. The integration of artificial intelligence and data analytics could further optimize cultivation processes and yield management, enhancing both efficiency and profitability.
Regional Insights
In the Americas, cannabis cultivation has undergone significant transformation, especially in regions where legislation has shifted towards legalization. Canada and certain states of the USA have established robust legal frameworks that govern the production, sale, and consumption of cannabis. These regions host some of the world’s largest cannabis companies, which are heavily regulated, publicly traded, and adhere to strict quality controls. Cannabis cultivation is largely illegal and associated with significant stigma in many APAC countries.
However, locations, including Australia and Thailand, are initiating medical cannabis programs, and there is growing interest in hemp production, typically for CBD oil and industrial uses, in countries such as China. The EMEA region is witnessing a burgeoning medical cannabis market, with countries such as Germany, Israel, and the UK implementing medical programs that have opened doors for cultivation under strict regulations.
Cannabis companies in EMEA often focus on medical-grade products, adhering to pharmaceutical standards such as Good Manufacturing Practices (GMP). The production environment tends towards highly controlled indoor or greenhouse settings. Some African countries, including Lesotho and South Africa, are exploring cannabis cultivation for both medical and economic development purposes, aiming to supply both domestic markets and exports primarily to European countries.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 185 |
| Forecast Period | 2024 – 2030 |
| Estimated Market Value (USD) in 2024 | $4.15 Billion |
| Forecasted Market Value (USD) by 2030 | $9.17 Billion |
| Compound Annual Growth Rate | 14.0% |
| Regions Covered | Global |
Market Dynamics
Market Drivers
- Cannabis Legalization and Rise in Trend of Indoor Cultivation
- Potential Use of Cannabis for Medical Treatment and Scientific Research
- Government Support for Legal Cannabis Cultivation and Education Program
Market Restraints
- Environmental Downside of Cannabis Cultivation and Existence of Illegal Cultivation Practices
Market Opportunities
- Use of AI and ML in Cannabis Cultivation
- Growing Application of Marijuana and Hemp in Various Industries
Market Challenges
- Challenges to Scaling Cannabis Cultivation and Regulatory Pressure
Market Segmentation Analysis
- Product: Availability of high-potency CBD oils for patients with specific therapeutic needs
- Type: Preference for Indica in colder climates and for individuals seeking pain relief and relaxation
- Source: Exponential use of CBD flowers for recreational and medicinal use
- Application: Emerging legalization of cannabis to accelerate its industrial consumption
Industry Insights
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
Key Company Profiles
- ABcann Medicinals, Inc.
- Acreage Holdings
- AgMedica Bioscience Inc.
- Aleafia Health Inc.
- Atlas Growers Ltd.
- Aurora Cannabis Inc.
- Better Group Holdings
- C3 Industries, Inc.
- Cannabis Sativa, Inc.
- Cannatrek Limited
- Canopy Growth Corporation
- Cresco Labs, LLC
- Cronos Group
- Curaleaf Holding Inc.
- Ecofibre Limited
- Gilead Sciences, Inc.
- Green Thumb Industries Inc.
- Harvest Health & Recreation, Inc
- HEXO Operations Inc.
- Jazz Pharmaceuticals PLC
- Lexaria Bioscience
- Mammoth Farms
- Maricann Inc.
- Medical Marijuana, Inc.
- Organigram Holdings Inc.
- SNDL Inc
- Tilray, Inc.
- Trulieve Cannabis Corp
- Ultra Health
- Verano Holdings LLC
- Village Farms International Inc.
Market Segmentation & Coverage
Product
- Food Additives
- Oils
- Tinctures
Type
- Cannabis Indica
- Cannabis Sativa
Source
- Flower/Buds
- Leaves
Application
- Industrial Consumption
- Medical Consumption
- Recreational Consumption
Region
Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
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New York, United States , Aug. 28, 2024 (GLOBE NEWSWIRE) — The Global Hemp Based Food Market Size is to Grow from USD 1.42 Billion in 2023 to USD 4.87 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 13.12% during the projected period.
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Hemp-based food is derived from hemp seeds, which are high in protein, fiber, and healthy fats. These foods, including hemp seeds, hemp oil, and hemp protein powder, have been linked to improved heart health and digestion. Hemp-based foods are gaining popularity as part of a healthy diet, especially among those looking for plant-based and natural food options. Hemp contains fiber as well as a number of vitamins and minerals, such as magnesium, vitamin E, zinc, and iron. Consumption of hemp-based food products improves digestive health, propelling the global hemp-based food market. Hemp-based foods include nut butter, corn chips, and snack bars. This is also benefiting the hemp-based food industry. Hemp seeds are commonly used as supplements and food ingredients all over the world. Hemp seed contains nonpsychoactive but biologically active cannabinoids, including cannabidiol (CBD), which has strong spasmolytic, anxiolytic, and anticonvulsant properties. CBD dietary supplements represent roughly one-third of the global CBD market. Hemp seed has a nutty flavor and contains essential fatty acids, vitamins, minerals, fiber, and the amino acids found in albumin and edestin, two highly absorbable proteins. Hempseed oil is high in polyunsaturated fatty acids, which have been shown to have anti-inflammatory, cancer-fighting, and cardiovascular properties. However, the antioxidant properties of hemp polyphenols currently prevent their absorption in the gut. Also, there is a shortage of processing and planting facilities and a lack of harvesting equipment.
Browse key industry insights spread across 204 pages with 110 Market data tables and figures & charts from the report on the “Global Hemp Based Food Market Size, Share, and COVID-19 Impact Analysis, By Product (Hemp Protein Powder, Hemp Seed Oil, Hemp Seeds, and Others), By Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Stores, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.”
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The hemp seeds segment dominates the market with the highest market share of the global hemp based food market during the projected period.
Based on the product, the hemp based food market is divided into hemp protein powder, hemp seed oil, hemp seeds, and others. Among these, the hemp seeds segment dominates the market with the highest market share of the hemp based food market during the projected period. Hemp seeds contain essential nutrients like fatty acids, protein, and fiber. Furthermore, a balanced ratio of omega-3 and omega-6 promotes overall health. Hemp seeds are versatile and can be used in a wide range of recipes. They appeal to a broader audience because they can be eaten raw, cooked, or roasted. They last longer than other hemp-based food products like hemp milk or oil. Furthermore, hemp seeds are easier to cultivate and harvest than other parts of the hemp plant, making them a cost-effective option for farmers.
The supermarkets and hypermarkets segment is anticipated to grow at the fastest pace during the projected period.
Based on the distribution channel, the global hemp based food market is categorized into supermarkets and hypermarkets, convenience stores, online stores, and others. Among these, the supermarkets and hypermarkets segment is anticipated to grow at the fastest pace during the projected period. Supermarkets and hypermarkets are popular shopping destinations that prominently feature hemp-based food products. These retailers use a variety of marketing and promotional strategies, such as loyalty programs, bundled offers, and discounts. Furthermore, they make hemp-derived food products more accessible to a broader range of customers. Supermarkets and hypermarkets provide a one-stop shopping experience, allowing customers to purchase other grocery items as well as hemp-based foods. These supermarkets and hypermarkets sell a variety of hemp-based products, including oils, seeds, and ready-to-eat snacks.
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North America is expected to hold the largest share of the global hemp based food market over the forecast period.
North America is expected to hold the largest share of the global hemp based food market over the forecast period. The presence of a strong supply chain for sourcing, manufacturing, and distributing hemp-based food items in North America is driving market growth. This streamlines market operations and reduces disruption. Also, hemp-based food products are widely available in offline retail channels throughout the region. This retail presence makes the products more accessible to consumers. Apart from that, increasing health consciousness among North American consumers is driving demand for all-natural, nutrient-dense foods.
Asia Pacific is predicted to grow at the fastest pace in the global hemp based food market during the projected period. The growing popularity of Western diets and the rising demand for hemp-based foods. This surge in popularity is primarily due to hemp products’ gluten-free status, which appeals to health-conscious consumers. As more people in this region adopt Western food trends, they are also looking for healthier, alternative options such as hemp-based foods. This shift in consumer preferences is expected to significantly increase the demand for hemp-based products in Asia-Pacific in the coming years.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global hemp based food market are Hempfoods Ltd., Tilray, Inc., GFR Ingredients, Hemp Foods Australia Pty Ltd, Aurora Cannabis Inc., Naturally Splendid Enterprises Ltd., Isodiol International Inc, Navitas LLC, Nutiva, Planet Based Foods Global Inc., T12 Holdings Pty Ltd., Agropro, Compass Diversified, Canopy Growth Corporation, Hempco Inc., Cool Hemp, and Other key vendors.
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Recent Developments
- In March 2023, Planet Based Foods Global Inc. announced that its wholly-owned subsidiary Planet Based Foods has expanded into the non-dairy frozen dessert category by introducing new hemp-based and organic vegan ice cream at Natural Products EXPO West.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global hemp based food market based on the below-mentioned segments:
Global Hemp Based Food Market, By Product
- Hemp Protein Powder
- Hemp Seed Oil
- Hemp Seeds
- Others
Global Hemp Based Food Market, By Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Stores
- Others
Global Hemp Based Food Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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