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The Hemp Milk Market, valued at USD 0.24 billion in 2023, is expected to grow at a compound annual growth rate (CAGR) of 15.24% from 2023 to 2033
INDIA, October 29, 2024 /EINPresswire / -- Hemp milk is a type of
plant milk made from hemp seeds that are soaked and ground in water. It has a smooth consistency and a nutty flavor, making it a versatile alternative to cow's milk. Hemp milk can be used in a variety of applications, including coffee, smoothies, and cereals. Rich in plant-based protein, healthy fats, and essential minerals, hemp milk is known for its numerous health benefits. It is particularly beneficial for skin health and has been shown to protect against heart disease. Nutritionally, hemp milk is packed with carbohydrates, iron, proteins, calcium, and healthy fats. One of the key advantages of hemp milk is that it is naturally free of lactose, soy, and gluten, making it an excellent choice for individuals who need or prefer to avoid these components. This makes hemp milk a suitable option for people with lactose intolerance, soy allergies, or gluten sensitivity. Due to the growing popularity of plant-based milk alternatives, hemp milk is widely available in most grocery stores and can also be purchased online. Its nutritional benefits and suitability for various dietary restrictions contribute to its increasing popularity among health-conscious consumers.
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Strategic Market Segments
“The unflavored segment is expected to grow faster throughout the forecast period.
The global hemp milk market is divided into two main variants: flavored and unflavored. The unflavored variant segment is currently leading the market. This is due to its high protein content, low-fat levels, and rich omega-3 fatty acids. Unflavored hemp milk is widely used in preparing beverages such as smoothies, hot chocolate, and coffee, which significantly drives market growth.”
“The unsweetened segment is expected to grow faster throughout the forecast period.
Based on sweetness, the global hemp milk market is segmented into sweetened and unsweetened types. The unsweetened milk segment is leading the market, primarily driven by the increasing health awareness among consumers. People are more conscious about reducing sugar intake, which boosts the demand for unsweetened hemp milk.”
“The organic segment is expected to grow faster throughout the forecast period.
Regarding production methods, the global hemp milk market is categorized into organic and inorganic segments. The organic segment holds a major market share. This is attributed to the rising awareness of the health benefits associated with organic products. Consumers are increasingly opting for organic hemp milk due to its perceived higher nutritional value and environmental benefits.”
“The Supermarkets segment is expected to grow faster throughout the forecast period.
The distribution channels for hemp milk include supermarkets, hypermarkets, and online retailers. Supermarkets are currently the most preferred distribution channel for consumers buying hemp milk products. However, online retail stores are quickly gaining popularity due to their wide range of product offerings, different brands, and competitive pricing. The convenience of online shopping and access to various discounts attract a growing number of consumers.”
Industry Leaders
Hudson River Foods, California Natural Products, Living Harvest Foods Inc., Pacific Foods of Oregon Inc, Good Mylk Co, SunOpta, Braham & Murray Good Hemp, Golden Hemp Company, Manitoba Harvest Hemp Foods, Elmhurst1925.
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Fueling Growth: The Essential Ingredients
Rising awareness about the environmental impact of animal agriculture has significantly driven consumers toward veganism. The consumption of meat products is associated with an increased risk of heart disease, prompting health-conscious individuals to adopt vegan diets. This shift is further supported by the growing consumer preference for healthy food options that are organic, natural, and free from chemicals or preservatives. Plant-based food products, such as hemp seed milk, have emerged as excellent alternatives to animal-based products. Hemp seed milk, in particular, is recognized for its rich nutritional profile, offering a high content of plant-based protein, healthy fats, essential minerals, and vitamins. Its natural composition and absence of common allergens like lactose, soy, and gluten make it an appealing choice for a wide range of consumers. The increasing demand for plant-based alternatives is reflective of broader trends toward sustainability and health-conscious living. As more consumers seek to minimize their environmental footprint and improve their health, the popularity of nutrient-rich, plant-based options like hemp seed milk continues to rise. This trend underscores a significant shift in consumer behavior, prioritizing both personal well-being and environmental sustainability.
The future of Hemp Milk Market
Growing awareness of the harmful effects of dairy products has increasingly pushed consumers toward plant-based alternatives. A significant portion of the population suffers from milk protein intolerance and lactose intolerance, which can cause symptoms such as bloating, tightness in the throat, abdominal cramps, wheezing, vomiting, hives, and other digestive problems. For these individuals, hemp seed milk is an excellent organic alternative. Hemp seed milk is particularly suitable for consumers with lactose intolerance, as it is naturally free from lactose and other common allergens like soy and gluten. This makes it a safe and nutritious option for those who need to avoid dairy products. Compared to traditional dairy milk, hemp seed milk contains fewer proteins, calories, and carbohydrates, making it a lighter option while still providing essential nutrients. One of the standout benefits of hemp seed milk is that it contains all the essential amino acids necessary for maintaining a healthy lifestyle. These amino acids are the building blocks of protein, crucial for various bodily functions, including muscle repair and immune support. Additionally, hemp seed milk is rich in healthy fats, vitamins, and minerals, further contributing to its nutritional value. As more consumers seek healthy and sustainable food choices, the popularity of hemp seed milk continues to rise. Its ability to meet dietary needs, especially for those with food intolerances, positions it as a superior substitute for dairy products. This shift highlights a broader trend towards plant-based nutrition, driven by both health considerations and a growing environmental consciousness.
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North America to main its dominance by 2033
The North American region holds a dominant position in the hemp milk market and is expected to witness significant growth in the upcoming years. Several factors contribute to this projected growth, including increasing consumer awareness about the health benefits of hemp milk, a growing vegan population, and a changing regulatory landscape that supports plant-based alternatives. In North America, particularly in the United States, there is a rising awareness among consumers about the nutritional benefits of hemp milk. This awareness has driven market demand, as more people seek out plant-based, lactose-free, and nutrient-rich milk alternatives. Hemp milk is appreciated for its high protein content, omega-3 fatty acids, and absence of common allergens like lactose, soy, and gluten. The growing vegan population is another significant driver of the hemp milk market in North America. Additionally, the regulatory landscape in North America has evolved to support the growth of the hemp milk market. As regulations become more favorable towards hemp cultivation and the production of hemp-based products, manufacturers are able to scale up production and offer a wider range of products to meet consumer demand.
Key Matrix for Latest Report Update
.Base Year: 2023
.Estimated Year: 2024
.CAGR: 2024 to 2034
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Swapnil Patel
Evolve Business Intelligence
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