Hemp Milk Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Hemp Milk Market is segmented By Type (Plain, Flavored, Unsweetened Flavor), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Sales, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Market Size

Global Hemp Milk Market reached USD 296.5 million in 2022 and is expected to reach USD 513.2 million by 2030 growing with a CAGR of 7.1% during the forecast period 2024-2031. Increasing awareness of the health benefits of vegan diets is supporting the hemp milk demand. Consumers are seeking dairy-free products, the hemp milk market is poised for expansion. 

The rising number of consumers adopting vegan and vegetarian lifestyles is driving the hemp milk market. Hemp milk is gaining demand among consumers and the growing demand for hemp milk.

The plant-based alternatives are expanding including meat substitutes and dairy alternatives, impacting the hemp protein market. Consumers are changing towards vegan diets for health reasons, and the demand for hemp protein-based products is rising continually and driving market growth. Consumer awareness of hemp milk increases and effective marketing strategies by manufacturers is playing a crucial role in driving product adoption. 

Market Scope

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Market Dynamics

Increasing Demand for Plant-Based Alternatives Drives Market Growth

The rising awareness of health concerns is impacting consumers to focus on vegan alternatives to dairy products. Hemp milk is a dairy-free and vegan product agreeing with these changing consumer preferences, driving its demand in the market. Consumers are adopting plant-based diets, and the demand for dairy-free milk products including hemp milk is continuing rising demand in the market.

Hemp milk contains nutrients including omega fatty acids, and minerals making it a vegan nutritious alternative to dairy milk. Health-conscious consumers seek nutritious plant-based options, hemp milk gains popularity in the market. Increasing awareness of sustainability concerns is influencing consumers to choose eco-friendly food products.

Hemp milk is derived from a sustainable crop, and offers a greener alternative to dairy milk, contributing to its market growth. Manufacturers are also developing new products to meet the demand in the market. For instance, on January 2021, Good Hemp, a well-known plant-based milk brand, introduced its Oat & Hemp Milk variant into the independent sector.

Rising Prevalence of Lactose Intolerance and Dairy Allergies Drive Market Growth

Consumers with lactose intolerance and dairy allergies increase, and rising demand for dairy-free alternatives. Hemp milk is a vegan and lactose-free option is serves as a suitable alternative for this consumer segment, driving the hemp milk market. The increasing prevalence of lactose intolerance and dairy allergies broadens the potential consumer base for hemp milk. As more people seek dairy alternatives to manage their dietary restrictions, the market for hemp milk grows to meet this demand.

The increasing concerns of lactose intolerance and dairy allergies are impacting retail outlets and food service establishments to offer dairy-free alternatives like hemp milk. Its wider availability in these channels enhances consumer accessibility and drives market demand. Consumers with lactose intolerance and dairy allergies seek sustainable and eco-friendly choices. Hemp milk is derived from a sustainable crop, which aligns with these environmental and ethical considerations, further bolstering its market growth.

Regulatory Challenges of Hemp Milk Hamper the Market Growth

Hemp and hemp-derived products, including hemp milk, face varying legal statuses and regulations in different regions and countries. There are restrictions regarding the cultivation and distribution of hemp-based products, creating barriers for manufacturers to enter certain markets and limiting the hemp milk market growth.

Regulatory requirements for labeling and health claims can vary significantly from one region to another. Inconsistent and stringent regulations limit manufacturers' ability to make certain health claims about hemp milk, affecting consumer perception and demand. Hemp milk is categorized as a novel food, requiring extensive safety assessments and approvals before it is introduced to the market. This approval process can be time-consuming and costly, hindering market entry for manufacturers.

Market Segment Analysis

The global hemp milk market is segmented based on type, distribution channel, and region.

Increasing Consumption of Plain Hemp Milk among Health-Conscious Consumers 

The plain segment held the largest share of the global hemp milk market. The plain hemp milk appeals to a broad consumer base, including those seeking a neutral taste and versatility in their plant-based milk choices. This wide appeal leads to a larger hemp milk market share for the plain segment.

Plain hemp milk is often used as a versatile ingredient in various culinary applications. Its neutral flavor makes it suitable for blending use in cooking, or as a base for other flavored beverages, expanding the hemp milk market. Health-conscious consumers purchase unsweetened milk alternatives to avoid added sugars. The plain segment caters to this preference, driving its market dominance.

Market Geographical Share

Increasing Adoption and Awareness of Plant-Based Hemp Milk in North America

The North American region is dominating the global hemp milk market. North America witnessed early adoption and awareness of hemp-based products, including hemp milk. The region's familiarity with hemp-based alternatives contributed to a higher consumer acceptance and demand for hemp milk, giving it a head start in the market. The region market is particularly to health and wellness, with a growing focus on vegan diets and dairy alternatives. Hemp milk's nutritional benefits attribute to health-conscious consumers in the region.

The popularity of vegan diets is rising in the region with significant consumers adopting dairy-free alternatives. Hemp milk a nutritious plant-based option, is gaining favor among these consumers, driving its dominance in the market. The North American market witnessed a diverse range of hemp milk products, including various flavors and formulations. Manufacturers in the region innovated to meet consumer demands, providing a wider choice of hemp milk options, further strengthening its market position.

Market Companies

The global hemp milk market players include Hudson River Foods, Pacific Foods of Oregon INC., Good Mylk Co., Living Harvest Foods, Inc., Good Hemp Food, Organic Hemp Milk Australia, Milkadamia, Nutriops, S.L, California Natural Products, Tilray, Inc.

COVID-19 Impact

The pandemic caused disruptions in supply chains globally, affecting the availability and distribution of various products, including hemp milk. Delays in sourcing raw materials and transportation challenges impacted the market's supply, leading to potential shortages. With lockdowns and restrictions on restaurants and cafes, the demand for food service products, including hemp milk used in coffee shops and eateries, declined significantly. This reduction in food service demand negatively affected the market during the pandemic.

However, the pandemic impacted consumers' focus on health and wellness, leading to rising demand for immune-strengthened food products. Hemp milk gained popularity as a healthier dairy-free alternative with its nutritional benefits, in the hemp milk market.

By Type

• Plain
• Flavored
• Unsweetened Flavor

By Distribution Channel

• Supermarkets/Hypermarkets
• Convenience Stores
• Online Sales
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On April 13, 2023, JOI, a prominent plant milk brand based in the US, introduced its latest offering, Hemp Milk Concentrate. This innovative product marks the company's first foray into vegan milk concentrates, and it is crafted from premium organic hemp hearts. The Hemp Milk Concentrate comes in convenient family-size 8 lb pails, offering versatility for various culinary applications.
• On March 5th, 2021, Califia Farms introduced two exciting additions to its plant milk lineup, namely the Mushroom Oat Milk and Hemp Barista Blends. Developed in collaboration with professional baristas, these new products not only serve as creamers but also deliver exceptional taste and quality without compromise. 
• In 2020, Good Hemp, a UK-based company, launched the world's first dairy-free hemp cream concentrate milk with an extended shelf life. This innovative product boasts a mild flavor profile, making it a versatile ingredient suitable for various formulations and culinary applications.

Why Purchase the Report?

• To visualize the global hemp milk market segmentation based on type, distribution channel, and region, as well as understand key commercial assets and players.

• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of the hemp milk market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global hemp milk market report would provide approximately 53 tables, 48 figures, and 101 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies

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