The hemp milk market is gaining traction due to its numerous benefits. Hemp milk is rich in omega-3 fatty acids, plant-based protein, and vitamins, making it a nutritious dairy alternative. It's also suitable for vegans and those with lactose intolerance. The dominating segment is health-conscious consumers seeking dairy-free options. As awareness of the environmental benefits of hemp cultivation grows, this segment continues to expand. Additionally, its versatility in recipes and growing demand for sustainable products contribute to the market's growth.
According to Data Bridge Market Research, the Global Hemp Milk Market to account for USD 882.63 million by 2029 by growing at a CAGR of 15.10% in the forecast period of 2022-2029.
“Increasing legalization and acceptance of hemp-based products boost the market’s growth”
The increasing legalization and acceptance of hemp-based products among the general population serve as a significant driver for the hemp milk market. As regulatory barriers are lifted and public perception shifts positively towards hemp, there's greater consumer trust and interest in trying hemp-derived products such as hemp milk. This growing acceptance opens up new markets and opportunities for hemp milk producers, fostering its expansion as a popular dairy alternative in regions where it's legally embraced.
What restraints the growth of the global hemp milk market?
“Rising cases of hemp allergies restraint the market’s growth”
The rising cases of hemp allergies pose a significant restraint to the hemp milk market. While hemp allergies are relatively rare compared to other allergens, they can cause severe reactions in affected individuals, limiting the market's consumer base. Manufacturers must address allergen labeling and cross-contamination concerns to mitigate this issue. As awareness of hemp allergies grows, it's crucial to ensure the safety and transparency of hemp milk products to maintain consumer trust and market growth.
Segmentation: Global Hemp Milk Market
The global hemp milk market is segmented on the basis of flavor, product, category, and distribution channel.
- On the basis of flavor, the hemp milk market is segmented into flavoured and unflavored.
- On the basis of product, the hemp milk market is segmented into organic and inorganic.
- On the basis of category, the hemp milk market is segmented into plain, low-sugar, sweetened, and unsweetened.
- On the basis of distribution channel, the hemp milk market is segmented into online and offline.
Regional Insights: North America dominates the Global Hemp Milk Market
North America maintains its dominant position in the hemp milk market, with sustained growth projected in the forecast period. The region's ascendancy is attributed to the increasing consumer demand for various hemp milk varieties. As health-conscious consumers seek dairy alternatives, hemp milk's nutritional benefits and versatility make it a popular choice. The established market and continued consumer interest ensure North America's continued prominence in driving the growth and adoption of hemp milk products.
Europe is poised for substantial growth in the hemp milk market, driven by a rising population of health-conscious consumers who are increasingly open to adopting non-dairy alternatives. This trend aligns with the region's growing preference for plant-based, sustainable options. As awareness of the nutritional benefits of hemp milk spreads and dietary choices evolve, Europe is expected to experience the highest growth rate in the adoption of hemp milk products during the forecast period.
lTo know more about the study visit, https://www.databridgemarketresearch.com/reports/global-hemp-milk-market
The Prominent Key Players Operating in the Global Hemp Milk Market Include:
- Drink Daily Greens LLC (U.S.)
- PACIFIC FOODS OF OREGON, LLC. (U.S.)
- Wild Harvest (U.S.)
- Good Hemp Food (U.K.)
- Cell-Nique Corporation (U.S.)
- The Fix Juice Pty Ltd (Australia)
- Organic Hemp Milk Australia (Australia)
- Manitoba Harvest Hemp Foods (Canada)
- Royal FrieslandCampina N.V. (Netherlands)
- Fonterra Co-Operative Group Limited (New Zealand)
- Arla Foods amba (Denmark)
- AMCO Proteins (U.S.)
- Saputo Inc. (Canada)
- Glanbia plc (Ireland)
- Kerry Group plc (Ireland)
- Havero Hoogwegt Group (Netherlands)
- Groupe Lactalis (France)
- Goodmylk Co. (U.S.)
- Ecomil (France)
- milkadamia (U.S.)
- Victory Hemp Foods (U.S.)
- Vaibhav Perfumery (India)
- Ingrilli Citrus Inc (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global hemp milk market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Hemp Milk Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
