How much is the hemp foods market worth in the United States?
The HIA estimates that the total value of annual sales of hemp foods in the United States is in the range of $20-33 million. If soaps and cosmetics are included the range is $100-120 million. Sales of all hemp products is estimated to be around $360 million. Market research obtained by the Hemp Industries Association (HIA), collected by the market research firm SPINS, shows that hemp grocery sales grew in the sampled stores by 65% over the previous year (from August 2007 to August 2008), or by $2.4 million, to a total of $6.12 million. Based on the representative growth of this sample, the HIA Food and Oil Committee now estimates that the total retail value of hemp foods sold over the past 12 months in North America grew from $20 million last year to approximately $33 million this year. In addition, the SPINS data show that sales of hemp body care products grew 10% over the past 12 months in the sampled stores to $12.24 million.
