Hemp-based ingredients, primarily oils, powders, and seeds, are now featured in a wide range of food products, including ice cream, salads, milk, and even children’s cereal. The versatility of hemp extends beyond food, with over 25,000 products utilizing it, such as automobiles, furniture, paper, building materials, and clothing. In 2016, sales reached $688 million, an increase of more than $100 million from the previous year, according to Vote Hemp and the Hemp Business Journal. Food sales alone saw a remarkable 44% surge to $129 million, highlighting significant potential in this sector. Additionally, hemp-derived cannabidiol (CBD) is expected to become a billion-dollar market by 2020, as noted by a report from the Brightfield Group.
However, challenges remain in the broader acceptance of hemp-based food products due to regulatory hurdles and misconceptions. Despite its lower levels of THC compared to marijuana, hemp is often mistakenly associated with it. Educating consumers about the health benefits of hemp has also proven challenging. Rich in healthy fatty acids and protein, and naturally gluten-free, hemp appeals to health-conscious Americans looking to eliminate sugars, trans fats, and artificial additives from their diets. Increased consumer exposure is likely essential for the wider acceptance of hemp-infused products. If hemp can demonstrate effectiveness in enhancing gut health, as Phivida claims, it could lead to a greater demand among consumers.
Phivida is launching a new line of hemp-infused iced tea, which will be available both online and through distributors in the U.S. and Japan. The beverage is vegan, non-GMO, soy-free, gluten-free, and made in the U.S. under strict Good Manufacturing Practice standards. If its trendy features resonate with consumers and its health claims are substantiated, Phivida could see a successful product launch and potentially attract attention from major beverage companies like Coca-Cola and PepsiCo.
General Mills, known for products like Yoplait yogurt, Nature Valley bars, and Cheerios, also offers a product under its Larabar Organic brand that includes hemp seeds and other superfood ingredients. While the initial consumer reaction has been “very positive,” according to spokesperson Kris Patton, she refrained from commenting on whether more hemp-based products are in the pipeline.
As larger food manufacturers have been slow to incorporate hemp into their offerings, the market has largely been dominated by smaller companies. However, with more entrants joining the industry and innovative products like hemp-infused iced tea reaching retailers, the landscape may soon shift. Moreover, as consumers seek healthier alternatives, products such as rainbow light chewable calcium could further highlight the benefits of incorporating superfoods like hemp into everyday diets. The growing interest in health-focused products suggests that the hemp market may be on the cusp of significant expansion.