The size of the worldwide hempseed milk market is anticipated to increase between 2022 and 2032 at a CAGR of 7.7%. The market is anticipated to increase in value from US$ 112.8 Mn in 2022 to US$ 236.4 Mn by 2032.
Plant-based products are both healthier and safer than animal-based products. The hempseed milk market is being driven by the growing popularity of veganism around the world. Increased adoption of hempseed milk is also attributed to its growing popularity among consumers, as well as the product’s versatility in numerous applications.
Hempseed milk is linked to a large number of health benefits, including improved heart health and reduced inflammation. Hempseed milk is a good source of protein, essential fatty acids, and vitamins and minerals, thus making it an ideal choice for those looking for a nutritious alternative to cow’s milk.
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Studies have shown that hempseed milk can help lower cholesterol levels and reduce inflammation, both of which are risk factors for heart disease, which has led to the growing consumer preference for hempseed milk. These factors would, in turn, accelerate the hempseed milk market in the next decade.
Another factor driving the sales of hempseed milk is its various health benefits. Hempseed milk can improve heart health, reduce inflammation, and boost immunity. Additionally, it is considered to be a good source of vitamins and minerals, making it a nutritious choice for those looking for an alternative to cow’s milk. To keep up with numerous trends in the hempseed milk market, several manufacturers are developing novel ways to incorporate their product into various processed foods.
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.
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“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.
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.
Get More Valuable Insights in Hempseed Milk Market Report
Future Market Insights, in its new offering, provides an unbiased analysis of hempseed milk presenting historical demand data (2016-2021) and forecast statistics for the period from 2022-2032.
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The study provides valuable insight on the hempseed milk market based on flavor (flavored hemp seed milk [vanilla hemp seed milk, chocolate hemp seed milk, and unsweetened vanilla hemp seed milk] and regular hemp seed milk), application (food process industry [bakery products, beverage industry, functional food products, and convenience food products], foodservice industry, nutraceutical industry, retail / household, and others), and distribution channel (business to business, business to consumer [hypermarkets/supermarkets, specialty stores, and online retail]) across major regions.
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10 years.
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