The global hemp milk market size was worth around USD 125.79 million in 2023 and is predicted to grow to around USD 214.33 million by 2032 with a compound annual growth rate (CAGR) of roughly 6.1% between 2024 and 2032.
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Market Analysis of Hemp Milk
Comprising various beneficial fats and minerals, hemp is a good source of nutrition. Regarding colour and texture, hemp milk is somewhat comparable to dairy milk. Still, its nutritional value is somewhat different from dairy milk. Rich in several nutrients, hemp milk is top quality non-dairy milk.
Low cost of production and an eco-friendly fast-growing crop are hemp’s qualities. The demand for hemp milk from different end users has driven production of hemp milk rising. This is the main driver behind the worldwide hemp milk industry. certain 50 nations worldwide, including Canada, China, and certain members of the EU, are now manufacturing notable volumes of hemp milk. The consumers are choosing non-dairy milk products because of their inexpensive cost and great nutritional value. Furthermore, rising knowledge of the advantages of organic food is predicted to rise especially over the next years. According to a recent poll, about forty-three percent of customers worldwide choose food with natural components free of any form of genetically modified organisms (GMOs).
Moreover, certain well-known sportsmen, celebrities, and some top businesses are supporting the use of plant-based products. This has changed the makers’ emphasis to target the niche market by introducing hemp milk in several flavours with low-calorie content or is unsweethered. Over the projected period, these elements are expected to drive the worldwide hemp milk market.
But the low-calorie content and almost equal fat content of hemp plant-based products over cow milk help to explain their increasing demand and influence on the development of this sector. Conversely, the growing customer taste for better food products is expected to support the hemp milk business worldwide.
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The Global Hemp Milk Market is segmented based on product, application and region
Global Hemp Milk Market: Product Segment Analysis
● Plain
● Low-Sugar
● Sweetened Flavor
● Unsweetened Flavored
Global Hemp Milk Market: Application Segment Analysis
● Supermarket Stores
● Convenience Stores
● Hypermarket Stores
● Others
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The Global Hemp Milk market profiles key players such as:
● Healthy Brands Collective
● Drink Daily Greens
● Pacific Foods of Oregon
● Waska Farms
● Wild Harvest Organics
● Braham & Murray
Analysis of the Regional Hemp Milk Market
The regional section covers the past and projected demand for North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa constitute the regional component of the global hemp milk market. By 2023 North America will have the biggest hemp milk market. Key users of hemp milk, such the United States and Canada, have significant income pockets in the area.
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