Hemp Milk Market Study For 2022 To 2032 Providing Information on Key Players, Growth Drivers and Industry Challenges

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.

Rising awareness regarding the functional benefits of plant-based food and beverage products is expected to drive sales of hemp milk over the forecast period. Manufacturers are launching a wide variety of hemp milk such as unsweetened, flavoured and non-flavoured options.

Further, consumers are getting more aware of the health benefits of hemp milk. It contains omega-3 fatty acids, protein, vitamins, and is low in fat, making it a desirable substitute to conventional dairy milk.

Hemp milk is also a great source of minerals and vitamins like calcium, iron, and others, which has increased its popularity among fitness enthusiasts. Growing consumption of ready-made foods and beverages, along with high preference for organic and clean-label products will augment the growth in the market.

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"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.

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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.

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

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Frequently Asked Questions

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Contact:
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Suite 401, Newark, Delaware - 19713, USA 
T: +1-845-579-5705 
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About FMI
Future Market Insights (ESOMAR certified 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.

This release was published on openPR.