Hemp Milk Market Outlook
According to the report by Expert Market Research (EMR), “The Global Hemp Milk Market Size, Share, Analysis, Report and Forecast 2024-2032″,the Global Hemp Milk Market is projected to grow at a CAGR of 14.20% between 2024 and 2032. Aided by the increasing vegan population and growing awareness about the health benefits of hemp milk, the market is expected to grow significantly by 2032.
Hemp milk, extracted from the seeds of the hemp plant, is becoming increasingly popular as a vegan and lactose-free alternative to traditional dairy. Renowned for its rich and creamy texture, it boasts a robust nutritional profile, comprising proteins, healthy fats, vitamins, and minerals. Besides, hemp milk exhibits potent anti-inflammatory and antioxidant properties, further contributing to its escalating popularity.
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The global hemp milk market growth is primarily driven by a rising consumer preference for plant-based diets. With an increasing awareness of the health benefits associated with plant-based food consumption, there’s been a substantial shift towards vegetarian and vegan diets, leading to an upswing in demand for hemp milk. Moreover, the booming trend of health and wellness has propelled hemp milk into the limelight, as it serves as an excellent dairy substitute in numerous health and fitness regimens.
The extensive applications of hemp milk across various industries also significantly contribute to the hemp milk market demand. Within the food and beverage sector, hemp milk is a key ingredient in vegan cheeses, plant-based yoghurts, cereals, and smoothies. Its nutty flavour and creamy consistency render it an attractive additive in coffee shops and restaurants. Beyond this, its hypoallergenic properties make it a preferred choice in the formulation of various skincare and haircare products, augmenting its demand in the cosmetics industry.
Moreover, hemp milk’s high concentration of Omega-3 and Omega-6 fatty acids, coupled with its plant-based protein content, makes it an ideal product in the burgeoning wellness and nutritional supplements sector, thus propelling the hemp milk market growth. Hemp milk’s natural nutritional profile is capturing the attention of health-conscious consumers seeking to bolster their daily nutrient intake without resorting to artificial supplements.
In addition to the above, the rise of ethical consumerism and sustainability concerns have prompted a growth spurt in the hemp milk market. The environmental footprint of hemp production is considerably less than that of traditional dairy farming, presenting hemp milk as a sustainable and eco-friendly choice. This resonates strongly with the modern, environmentally conscious consumer, further driving hemp milk market expansion.
Furthermore, hemp cultivation presents a dual-purpose opportunity for farmers and manufacturers alike. While hemp milk is derived from the seeds, the remaining plant materials can be used for producing a range of products like textiles, construction materials, and biofuels, thus increasing the economic viability of the hemp milk market.
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Hemp Milk Market Segmentation
The market can be divided based on variants, type, category, distribution channel, and region.
Market Breakup by Variants
- Flavoured
- Unflavoured
Market Breakup by Type
- Sweetened
- Unsweetened
Market Breakup by Category
- Organic
- Conventional
Market Breakup by Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Speciality Stores
- Online Retail
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Hemp Milk Market Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global hemp milk companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Hudson River Foods
- Pacific Foods of Oregon INC.
- Good Mylk Co.
- Living Harvest Foods, Inc
- Good Hemp Food
- Organic Hemp Milk Australia
- Milkadamia
- Nutriops, S.L
- Others
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