The global hemp milk market size reached US$ 258.78 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 518.62 Million by 2028, exhibiting a growth rate (CAGR) of 12.19% during 2023-2028.
Hemp milk is a non-dairy beverage produced by blending water and seeds from the Cannabis sativa plant. It is a rich source of calcium, iron, phosphorus, zinc, and vitamin A, B12 and D. It is safe to be consumed by individuals suffering from tree nut allergies and lactose intolerance. It offers an earthy and nutty flavor with a creamy consistency that can replace milk in coffee, tea, cereal, smoothies, and other recipes. It aids in relaxing blood vessels and maintaining a healthy blood pressure. It also boosts brain health while reducing the risk of neurodegenerative diseases, such as Alzheimer’s. It assists in preventing various skin problems, such as inflammation, aging, dryness, and itchiness.
Hemp Milk Market Trends:
At present, the growing legalization and acceptance of hemp-based products represent one of the key factors driving the market. Besides this, the rising number of lactose intolerant individuals, along with the increasing demand for plant-based, nutritious, and vegan products among consumers, is propelling the growth of the market. In addition, the growing awareness about the degrading environmental conditions is offering a positive market outlook. Moreover, there is a rise in the demand for hemp milk among fitness enthusiasts as it is a rich source of nutrients, minerals, and healthy fats. This, along with the increasing number of cafes and restaurants offering coffee and other beverages prepared with hemp milk, is offering lucrative growth opportunities to industry investors. Moreover, key manufacturers are investing in research and development (R&D) activities to introduce flavored hemp milk for catering to the demand of consumers. Additionally, the growing utilization of hemp milk to maintain optimal blood levels and C-reactive protein (CRP) and lower the risk of heart disease is positively influencing the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hemp milk market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on variant, type, category and distribution channel.
Breakup by Variant:
Breakup by Type:
Breakup by Category:
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being Good Hemp Food, Goodmylk Co., Hudson River Foods, Living Harvest Foods Inc, Manitoba Harvest Hemp Foods, Pacific Foods of Oregon Inc and Sunopta Inc. Kindly, note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
| Historical Period
||Variant, Type, Category, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Good Hemp Food, Goodmylk Co., Hudson River Foods, Living Harvest Foods Inc, Manitoba Harvest Hemp Foods, Pacific Foods of Oregon Inc and Sunopta Inc.
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Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the hemp milk market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global hemp milk market.
- The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the hemp milk industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.