Hemp Milk Market Size, Trends, Share, And Growth 2032

Hemp Milk Market Size

The global hemp milk market size was worth around USD 125.79 million in 2023 and is predicted to grow to around USD 214.33 million by 2032 with a compound annual growth rate (CAGR) of roughly 6.1% between 2024 and 2032.

The study provides historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Million). The report covers a forecast and an analysis of the Hemp Milk market on a global and regional level.

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Hemp Milk Market Overview

Hemp is a good source of nutrients and consists of several healthy fats and minerals. Hemp milk is very similar to dairy milk in terms of color and texture. However, it largely differs in nutritional content in comparison to dairy milk. Hemp milk is non-dairy milk of premium quality that is enriched with different nutrients.

Hemp is an environment-friendly and fast-growing crop with low cost of production. The rise in the demand for hemp milk from various end-users has led to an increase in the production of hemp milk. This is the primary factor fuelling the global hemp milk market. Currently, some 50 countries across the globe like Canada, China, and several members of the EU are producing significant amounts of hemp milk. The consumers are opting for non-dairy milk products due to their high nutritional properties and low costs. Moreover, increasing health awareness about the benefits of organic food is expected to grow notably over the forecast time period. As per a recent survey, around 43% of global consumers prefer food with natural ingredients that are devoid of any kind of genetically modified organisms (GMOs).

Furthermore, several renowned athletes, celebrities, and some leading companies are also endorsing plant-based products consumption. This has shifted the manufacturers’ focus to introducing hemp milk in various flavors that have low-calorie content or is unsweetened to target the niche consumers. These are some factors expected to drive the global hemp milk market over the forecast time period. However, the escalating demand for hemp plant-based products over cow milk can be attributed to its low-calorie content and nearly the same amount of fat may affect this market’s growth. On the other hand, the increasing consumer preference for healthier food items is anticipated to further contribute to the hemp milk market globally.

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Hemp Milk Market Segmentation

The study provides a decisive view of the global hemp milk market by segmenting it based on the product, distribution channel, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032. 

Based on product, the hemp milk market is fragmented into plain, low-sugar, sweetened flavor, and unsweetened flavored.

On the basis of the distribution channel, the market is categorized into supermarket stores, convenience stores, hypermarket stores, and others.

Hemp Milk Market: Report Scope

Hemp Milk Market Regional Analysis

The regional segment includes the historic and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. 

The regional segment of the global hemp milk market includes North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. North America was the largest market for hemp milk in 2023. The region has key revenue pockets in countries like the U.S. and Canada, which are some of the key consumers of hemp milk.

Hemp Milk Market Key Players Analysis

Some major players operating in the global hemp milk market are:

• Healthy Brands Collective
• Drink Daily Greens
• Pacific Foods of Oregon
• Waska Farms
• Wild Harvest Organics
• Braham & Murray

This report segments the global hemp milk market into:

Global Hemp Milk Market: Product Analysis

• Plain
• Low-Sugar
• Sweetened Flavor
• Unsweetened Flavored

Global Hemp Milk Market: Distribution Channel Analysis

• Supermarket Stores
• Convenience Stores
• Hypermarket Stores
• Others

Global Hemp Milk Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa

Report Addresses

• The report analyzes the global Hemp Milk Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Labeling Equipment Market industry.
• The study includes the drivers and restraints for the hemp milk market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the hemp milk on a global level.
• In order to give the users of this report a comprehensive view of the hemp milk, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.
• The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.