In the forecast period of 2023 to 2033, the worldwide hempseed milk market is estimated to develop at a CAGR of 7.7%. The market is expected to be worth US$ 254.60 million by 2033, up from US$ 121.49 million in 2023.
Plant-based diets are both healthier and safer than animal-based diets. The growing global popularity of veganism is propelling the hempseed milk market. The growing consumer attractiveness of hempseed milk, as well as the product’s versatility in a range of applications, are also reasons in its expanded adoption.
Hemp milk has been linked to a number of health benefits, including improved heart health and reduced inflammation. Hempseed milk is abundant in protein, essential fatty acids, vitamins, and minerals, making it an ideal alternative to cow’s milk for those looking for a nutritional alternative.
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Hempseed milk has been demonstrated in studies to help lower cholesterol levels and reduce inflammation, both of which are risk factors for heart disease, leading to an increasing public preference for hempseed milk. These factors will, in turn, propel the hempseed milk market forward during the coming decade.
Another element increasing hempseed milk sales is its numerous health advantages. Hemp milk has been shown to improve heart health, reduce inflammation, and promote immunity. It is also a good source of vitamins and minerals, making it a nutritious choice for individuals looking for a dairy alternative to cow’s milk. Several manufacturers are creating unique ways to include their product into various processed foods in order to keep up with numerous trends in the hempseed milk market.
Key Takeaways: Hempseed Milk Market
- India currently holds a hempseed milk market share of around 31.0% in South Asia.
- By flavor, the regular hempseed milk segment is expected to generate a global market share of about 76.9% in 2022.
- The vanilla hemp seed milk segment is set to account for nearly 34.3% of the global market share in 2022.
- During the forecast period, the hempseed milk market in the U.K. is expected to grow at a rapid CAGR of 13.2%.
- During the forecast period, the France hempseed milk market is expected to grow at a high CAGR of 8.2%.
- The U.K. hempseed milk market is set to generate a lucrative share of about 29.4% in the next decade.
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“Hempseed milk is a versatile ingredient that has a wide array of applications, right from bakery products to foodservice industry. With rising health awareness and increasing cases of lactose intolerance, consumers are rapidly shifting towards hempseed milk owing to its organic, natural, and plant-based characteristics,” says a lead analyst at Future Market Insights.
Competitive landscape: Hempseed Milk Market
Top 5 manufacturers of hempseed milk are SunOpta, Pacific Foods of Oregon, Living Harvest Foods, Manitoba Harvest Hemp Foods, and Z-company Bizerba. They are currently holding about 20% to 30% of the global hempseed milk market share.
Many companies are using hempseed milk in their products as it is a nutritious and environmentally friendly option. Hempseed milk is high in protein, essential fatty acids, and minerals. It is also low in calories and cholesterol. These factors make hempseed milk an ideal choice for many health conscious consumers. With increasing research & development activities and technological advancements, key players are finding new techniques to effectively use hempseed milk in the bakery industry.
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Future Market Insights, in its new offering, provides an unbiased analysis of hempseed milk presenting historical demand data (2016-2021) and forecast statistics for the period from 2022-2032.
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The study provides valuable insight on the hempseed milk market based on flavor (flavored hemp seed milk [vanilla hemp seed milk, chocolate hemp seed milk, and unsweetened vanilla hemp seed milk] and regular hemp seed milk), application (food process industry [bakery products, beverage industry, functional food products, and convenience food products], foodservice industry, nutraceutical industry, retail / household, and others), and distribution channel (business to business, business to consumer [hypermarkets/supermarkets, specialty stores, and online retail]) across major regions.
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