According to a recent report by Future Market Insights, sales of hemp milk are estimated to reach a value of US$ 236.4 Mn by 2032, surging at 7.3% CAGR through the decade.
The predicted period is expected to see a growth in hemp milk sales as people become more aware of the benefits of plant-based food and drink options. There are many different kinds of hemp milk being created, including unsweetened, flavoured, and flavourless variations.
Additionally, consumers are becoming more aware of the health benefits of hemp milk. Since it contains omega-3 fatty acids, protein, vitamins, and is low in fat, it is a better option than conventional dairy milk.
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Hemp milk has become more popular among those who like physical activity as a result of being an excellent source of vitamins and minerals including calcium, iron, and others. The market will grow as a result of rising consumer demand for clean-label and organic products, as well as increased consumption of prepared foods and beverages.
“Increasing incorporation of hemp milk in the foodservice sector is expected to fuel demand in the market in the forthcoming years. Besides this, growing popularity of veganism across emerging economies will boost sales over the forecast period,” says and FMI analyst.
Key Takeaways from Market Study
- Sales of hemp milk in the U.S. are projected to increase at a 5.7% CAGR, accounting for a dominant share of the North America hemp milk market.
- Demand in the Italy hemp milk market are forecast to grow at a 11.7% CAGR over the forecast period.
- In terms of sales channel, total sales in the offline segment are projected to hold more than 3/4th of the market share in 2022.
Competition Landscape
Some of the leading players in the hemp milk market include Drink Daily Greens LLC, PACIFIC FOODS OF OREGON, LLC., Wild Harvest, Good Hemp Food, Cell-Nique Corporation, The Fix Juice Pty Ltd, Organic Hemp Milk Australia, Manitoba Harvest Hemp Foods, Goodmylk Co., Ecomil, milkadamia, and Victory Hemp Foods.
Key players operating global hemp milk market are investing in partnerships and collaborations with other manufacturers in order to expand their product manufacturing facilities. For instance:
- SunOpta announced in February that it had purchased Dream and WestHemp from the Hain Celestial Group, two of the largest and most established brands in the shelf-stable plant-based dairy products sector. SunOpta increased its beverage plant capacity in Allentown, Pennsylvania.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of hemp milk presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
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Hemp Milk Market by Category
By Form:
- Liquid
- Powder
By Flavor Type:
- Original/Unflavoured
- Flavoured
- Chocolate
- Vanilla
- Other Flavours
By End-Use:
- Dairy Products
- Cheese
- Yoghurt
- Butter
- Spreads
- Ice Cream
- Frozen Dessert
- Bakery and Confectionery
- Milk & Milk Based Beverages
- Retail Sales
By Sales Channel:
- Direct Sales
- Indirect Sales
- Modern Trade
- Convenience Store
- Departmental Store
- Traditional Store
- Specialty Store
- Online Retailers
- Other Sales Channel
By Region:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
Frequently Asked Questions
- At what rate will the hemp milk market grow?
- What are the key factors driving the hemp milk market?
- Which is the most attractive region in the global hemp milk market?
- Who are the key players in the hemp milk market?
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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