Global Hemp Milk Market is valued at USD 443.23 Million in 2021 and is expected to reach USD 987.84 Million by 2028 with a CAGR of 12.13% over the forecast period.
Global Hemp Milk Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2028- Growing awareness regarding fitness and the rising number of health-conscious consumers are some of the major factors driving the growth of the global Hemp Milk Market.
Hemp milk is a plant milk made from hemp seeds that are soaked and ground in water. Hemp milk has a smooth texture and an earthy, nutty flavor. It can be used in smoothies, coffee, and cereals in place of cow's milk. It is rich in high-quality plant protein, healthy fats, and minerals. Hemp milk has been shown to improve skin health and protect against heart disease. Hemp milk is highly nutritious and rich in proteins, carbohydrates, calcium, iron, and healthy fats. Commercial hemp milk is often fortified with calcium, phosphorus, and vitamins A, B12, and D, in addition to these naturally occurring nutrients. It may contain added sugar, salt, thickeners, or other additives. In reality, it contains more protein and healthy fats than rice, almond milk, and other popular plant-based milk.
Most of the fat in hemp milk is unsaturated essential fatty acids, such as linoleic acid (omega-6) and alpha-linolenic acid (omega-3), and are required for the building of new tissues and membranes in your body. Hemp milk also contains protein that your body can easily digest and use. It is one of the few plant-based complete proteins, as it contains all of the essential amino acids that humans require in their diet. Hemp milk is naturally free of soy, lactose, and gluten, making it an excellent choice for those who need or prefer to avoid these components. Hemp milk can be found in most grocery stores and online, due to the growing popularity of plant-based milk.
During the Covid-19 pandemic, the careful steps taken by governments of different nations have led to the temporary shutdown of various industries thus, it has also shown a declining impact on the hemp milk market owing to the disturbance in the supply chain network and other factors. However, hemp milk contains various proteins, essential fatty acids which help to maintain good health and hemp milk is easily available online which may increase the growth of the hemp milk market.
The regions covered in this Global hemp milk Market report are North America, Europe, Asia-Pacific and the Rest of the World. On the basis of country level, the market of Global hemp milk is subdivided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Hemp Milk Market is segmented into source, product, distribution channel and region & country level. On the basis of source, the market is segmented into organic and inorganic. On the basis of product is segmented into plain, flavored, sweetened and unsweetened and on the basis of distribution channel market is segmented into supermarket & hypermarket, grocery store and online retail.
Growing awareness regarding fitness and the rising number of health-conscious consumers are some of the major factors driving the market growth. Hemp is one of the highest sources of plant-based protein. Hemp milk is a great non-dairy alternative because it naturally contains calcium which is more than dairy milk. And it has added benefits of omega 3 & 6 essential fatty acids that promote brain and heart health and it has anti-inflammatory properties. The growing vegan population is also supplementing the market growth because of growing awareness regarding animal rights and environmental concerns among consumers. This is stimulating the demand for vegan alternatives and hemp milk is widely used as a substitute for dairy milk.
Increasing lactose intolerance and milk allergies in consumers is diverting consumers to drink hemp milk. Hemp milk can be used in various food products as an alternative to dairy milk. These factors are driving the market growth of hemp milk. For instance, According to the Journal of Plant-Based Food Association 2018, the plant-based milk segment has grown by 9% (compared to 3% last year) and now accounts for nearly half of the total dollar volume ($1.6 billion). Plant-based milk accounts for 15% of overall milk sales. Plant-based milk sales have surpassed $670 million, an increase of 24 percent (compared to 6% last year). Due to these driving factors, the hemp milk market is currently growing tremendously.
However, hemp milk is likely to be costly and some hemp allergies may hamper the market growth. In spite of that, it is rich in many essential fatty, proteins, and minerals, and increasing health awareness can offer more opportunities for the further growth of the global hemp milk market.
North America is expected to dominate the global hemp milk market owing to the growing population and increasing consumer awareness about the health benefits of hemp milk. According to the Agricultural Utilization Research Institute; some research institutions and state departments of agriculture began growing the crop and, as of 2017, there were reported to be more than 25,000 acres of hemp production in the United States and up from just 9,770 acres in 2016. There were 1,420 registered or licensed growers, and more than 30 universities nationwide conducting research.
Also, Europe is also expected to capture a significant share in this market due to the high demand for dairy alternatives. According to the Journal of European Industrial Hemp Association, hemp is cultivated about 50,081 hectares in 2018 with an increase of 3.3%, 70%, and 614% compared with 2017, 5-years average, and 1993, respectively. Because of its unique properties, particularly its environmental benefits and the high yield of natural technical fibers, hemp is a valuable crop for the bio-based economy.
Califia Farms Launches New Mushroom Oat and Hemp Barista Blends.
On March, 5th 2021; Califia Farms has added two new plant milks including Mushroom Oat Milk and Hemp Barista Blends. According to Califia, Mushroom Oat milk and Hemp Barista Blends are developed with professional baristas and double as creamers. Without sacrificing taste and quality these two are steam and foam beautifully. Company aims to meet the demand for functional ingredients with the most important quality in plant-based alternative milks and creamers. New Mushroom Oat and Hemp Barista Blends have the creaminess and consistency that elevate the at-home coffee experience with the added benefits of functional ingredients. Research found that the one in four coffee drinkers would rather go without coffee if their preferred milk is unavailable. The right plant-based milk is a vital part of coffee experience. Hemp Barista Blend has a mild, nutty flavour and is a source of calcium and omega-3 ALA fatty acids.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2028|
|Market Size in 2020:||USD 443.23 Million|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market SizeMarket Size Expected in 2028:||USD 987.84 Million|
|Tables, Charts & Figures:||175|
|Hemp Milk Companies||Braham & Murray, Cell Nique Co., Drink Daily Greens LLC, Fresh Hemp Foods Ltd., Good Hemp Food, Good Mylk Co., Hudson River Foods, Healthy Brands Collective, Manitoba Harvest Hemp, Organic Hemp Milk Australia, Pacific Foods Of Oregon INC., Waska Farms, Wild Harvest Organic, and others|
|Segments Covered||By Source, By Product, By Distribution Channel|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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