The hemp milk market is flourishing, with revenues expected to reach US$ 236.4 million by 2032 at a predicted 7.3% CAGR. Growing interest in plant-based diets, enhanced flavour profiles, and the health benefits of hemp milk are propelling this trend away from traditional dairy products.
The market for hemp milk is expanding at an impressive rate, with a 7.3% compound annual growth rate and projected sales of US$ 236.4 million by 2032. The main reasons for this increase are the variety of flavours of hemp milk that are available and the increased awareness of plant-based dietary options. Customers are also recognising that hemp milk, with its protein, vitamin, and omega-3 fatty acid content, is a healthier alternative to traditional dairy milk.
Sales of hemp milk are predicted to soar at a 7.3% CAGR over the course of the decade, reaching a value of US$ 236.4 Mn by 2032, according to a recent analysis by Future Market Insights.
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As more people become aware of the benefits of plant-based food and beverage options, hemp milk sales are predicted to rise during the anticipated timeframe. 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. Because it contains protein, vitamins, and omega-3 fatty acids, it is a better option than conventional dairy milk.
Due to its high source of vitamins and minerals like calcium, iron, and others, hemp milk has grown in popularity among people who like physical activity. Growing consumer demand for clean-label and organic products, as well as rising consumption of prepared foods and beverages, will drive market expansion.
“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
To navigate this thriving market, ask an analyst for in-depth insights and strategic recommendations :
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Frequently Asked Questions
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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