Hemp Milk Market Size, Share,  Industry Trends, Forecast 2023-2028

How big is the Hemp Milk Market?

IMARC Group, a leading market research company, has recently releases report titled “Hemp Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” 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.

What is Hemp Milk?

Hemp milk, an increasingly popular dairy alternative, is derived from the seeds of the hemp plant. This plant-based beverage offers a nutritious and environmentally friendly option for consumers seeking an alternative to traditional cow's milk. It is known for its creamy texture and nutty flavor, making it a versatile choice for various culinary applications. It is also rich in essential fatty acids, including omega-3 and omega-6, which are beneficial for heart health and overall well-being. Additionally, hemp milk is a good source of plant-based protein and contains essential vitamins and minerals, such as calcium and vitamin E. In recent years, with its growing recognition as a viable substitute for cow's milk, the global hemp milk market has witnessed substantial growth. 

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What are the growth prospects and trends in the industry?

The global hemp milk market is driven by the increasing demand for plant-based dairy alternatives and the growing trend of adopting healthier lifestyles. Consumers are becoming more health-conscious and are actively seeking nutritious alternatives to traditional dairy products. In addition, the rise in veganism and lactose intolerance cases is escalating the demand for hemp milk as a suitable substitute. Besides, key players in the industry are focusing on product innovation and development. They are introducing new flavors, fortifying hemp milk with additional nutrients, and launching organic and premium variants to target a wider consumer base. This, coupled with the increasing availability of hemp milk in retail stores, supermarkets, and online platforms is contributing to market growth. Moreover, the environmental impact of the dairy industry, including issues related to water usage, land degradation, and greenhouse gas emissions, has prompted consumers to seek more sustainable alternatives. Hemp milk is derived from hemp seeds, which require less water and land compared to traditional dairy farming, which is also creating a favorable market outlook across the globe.  

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What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Variant:

• Flavored

• Unflavored

Breakup by Type:

• Sweetened

• Unsweetened

Breakup by Category:

• Organic

• Conventional

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets

• Convenience Stores

• Specialty Stores

• Online Stores

Market Breakup by Region:

• North America (United States, Canada)

• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)

• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

• Latin America (Brazil, Mexico, Others)

• Middle East and Africa

Who are The Key Players Operating in The Industry?

• 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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