The global hempseed milk market size is poised for substantial growth, with a projected CAGR of 7.7% from 2023 to 2033. Market valuation is expected to soar from USD 121.49 million in 2023 to USD 254.60 million by 2033.
Hempseed milk, a dairy-free, plant-based alternative derived from hemp seeds, offers a nutty flavor and is rich in protein, vitamins, minerals, and essential fatty acids. As a viable substitute for individuals with lactose intolerance or cow’s milk allergies, hempseed milk has gained traction.
Increasing awareness of the health risks associated with dairy consumption has fueled the demand for plant-based alternatives. With a significant portion of the global population grappling with lactose intolerance or milk protein allergies, hemp milk emerges as a viable option.
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The hempseed milk market is thriving, fueled by the global rise in veganism and the growing consumer preference for plant-based products. Hempseed milk offers a range of health benefits, including improved heart health and reduced inflammation, making it an attractive alternative to cow’s milk.
Rich in protein, essential fatty acids, vitamins, and minerals, hempseed milk appeals to health-conscious consumers seeking nutritious dairy alternatives. Studies indicate its potential to lower cholesterol levels and combat inflammation, factors contributing to its popularity among consumers concerned about heart health.
As demand for hempseed milk continues to surge, manufacturers are innovating to integrate it into a variety of processed foods, aligning with evolving consumer preferences. This trend is expected to drive further growth in the hempseed milk market in the coming years.
Key Takeaways: Hempseed Milk Market
- India currently holds a hempseed milk market share of around 31.0% in South Asia.
- By flavor, the regular hempseed milk segment is expected to generate a global market share of about 76.9% in 2022.
- The vanilla hemp seed milk segment is set to account for nearly 34.3% of the global market share in 2022.
- During the forecast period, the hempseed milk market in the U.K. is expected to grow at a rapid CAGR of 13.2%.
- During the forecast period, the France hempseed milk market is expected to grow at a high CAGR of 8.2%.
- The U.K. hempseed milk market is set to generate a lucrative share of about 29.4% in the next decade.
“Hempseed milk is a versatile ingredient that has a wide array of applications, right from bakery products to foodservice industry. With rising health awareness and increasing cases of lactose intolerance, consumers are rapidly shifting towards hempseed milk owing to its organic, natural, and plant-based characteristics,” says a lead analyst at Future Market Insights.
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Competitive landscape: Hempseed Milk Market
Top 5 manufacturers of hempseed milk are SunOpta, Pacific Foods of Oregon, Living Harvest Foods, Manitoba Harvest Hemp Foods, and Z-company Bizerba. They are currently holding about 20% to 30% of the global hempseed milk market share.
Many companies are using hempseed milk in their products as it is a nutritious and environmentally friendly option. Hempseed milk is high in protein, essential fatty acids, and minerals. It is also low in calories and cholesterol. These factors make hempseed milk an ideal choice for many health conscious consumers. With increasing research & development activities and technological advancements, key players are finding new techniques to effectively use hempseed milk in the bakery industry.
Hempseed Milk Market Outlook by Category
By Flavor:
- Flavored Hemp Seed Milk
- Vanilla Hemp Seed Milk
- Chocolate Hemp Seed Milk
- Unsweetened Vanilla Hemp Seed Milk
- Regular Hemp Seed Milk
By Application:
- Food Process Industry
- Bakery Products
- Beverage Industry
- Functional Food Products
- Convenience Food Products
- Foodservice Industry
- Nutraceutical Industry
- Retail / Household
- Others
By Distribution Channel:
- Business to Business
- Business to Consumer
- Hypermarkets/Supermarkets
- Specialty Stores
- Online Retail
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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