Hemp milk sales are expected to reach US$ 236.4 million by 2032, according to a recent analysis by Future Market Insights, with a 7.3 percent CAGR over the decade.
Over the forecast period, rising awareness of the functional benefits of plant-based food and beverage items is likely to drive hemp milk sales. Hemp milk comes in a range of flavors, including unsweetened, flavored, and unflavored varieties.
Furthermore, customers are becoming increasingly aware of hemp milk’s health benefits. It’s high in omega-3 fatty acids, protein, and vitamins, and low in fat, making it a good alternative to dairy milk.
Hemp milk is also high in minerals and vitamins like calcium, iron, and others, which has contributed to its growing popularity among fitness enthusiasts. Growing demand for ready-made foods and beverages, as well as a strong preference for organic and clean-label products, will drive market expansion.
Key Takeaways from Market Study
- Hemp milk sales in the United States are expected to grow at a 5.7 percent compound annual growth rate (CAGR), accounting for the majority of the North American hemp milk market.
- Over the projected period, demand for hemp milk in Italy is expected to expand at a CAGR of 11.7 percent.
- In terms of sales channel, total offline sales are expected to account for more than 3/4 of the market in 2022.
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 are some of the leading players in the hemp milk market.
To increase their product manufacturing facilities, key players in the global hemp milk market are forming partnerships and collaborations with other manufacturers. For example:
- In February, SunOpta announced that it had purchased Dream and WestHemp from the Hain Celestial Group, two of the most well-known and well-known brands in the shelf-stable plant-based dairy products category. SunOpta boosted the capacity of its beverage facility in Allentown, Pennsylvania.
Download a Sample Copy with Graphs & List of Figures