Global Hemp Milk Market Soars to $812 Million by 2032: Plant-Based Diet Trend and Health Awareness Fuel Growth
Source: The DairyNews
The global hemp milk market has surged to a noteworthy size, reaching $290.1 million in 2023 and is projected to hit $812 million by 2032, showcasing an impressive compound annual growth rate (CAGR) of 12.12% from 2023 to 2032, as reported by ResearchAndMarkets.com.
Several factors contribute to the remarkable growth trajectory, including the increasing global emphasis on health consciousness leading to a shift towards plant-based dietary choices, heightened awareness of food allergies, and the growing adoption of hemp milk within the foodservice industry.
Hemp milk, a plant-based alternative derived from hemp plant seeds, a member of the Cannabis sativa family, has gained popularity for its rich nutritional content. It boasts essential fatty acids, proteins, and a spectrum of vitamins and minerals. The production process involves blending hemp seeds with water and then separating solid components, resulting in a creamy, nutty-flavored liquid.
Distinguished by its omega-3 and omega-6 fatty acid profile, hemp milk is particularly appealing to health-conscious consumers seeking alternatives to traditional dairy products. Additionally, it caters to dietary preferences such as veganism and lactose intolerance, being naturally free from lactose, soy, and gluten.
The market's growth is primarily driven by the increasing global trend of health consciousness, leading to a rising preference for plant-based dietary options. This shift has expanded the consumer base for non-dairy alternatives, including hemp milk. Regulatory support for sustainable agricultural practices further boosts hemp cultivation, ensuring an adequate supply for milk production. The market benefits from increased retailer involvement in promoting plant-based foods, aligning with the growing popularity of flexitarian diets that incorporate plant-based choices alongside reduced meat consumption.
The surge in home cooking, influenced by lifestyle changes accentuated by the global pandemic, has also positively impacted the market. Other contributing factors include the appeal of clean-label products, positive trade policies facilitating global food exchange, and extensive research and development activities focusing on enhancing the quality and benefits of hemp milk. The global hemp milk market is poised for continued growth, driven by evolving consumer preferences and a commitment to healthier, sustainable dietary choices.
Hemp milk, a plant-based alternative derived from hemp plant seeds, a member of the Cannabis sativa family, has gained popularity for its rich nutritional content. It boasts essential fatty acids, proteins, and a spectrum of vitamins and minerals. The production process involves blending hemp seeds with water and then separating solid components, resulting in a creamy, nutty-flavored liquid.
Distinguished by its omega-3 and omega-6 fatty acid profile, hemp milk is particularly appealing to health-conscious consumers seeking alternatives to traditional dairy products. Additionally, it caters to dietary preferences such as veganism and lactose intolerance, being naturally free from lactose, soy, and gluten.
The market's growth is primarily driven by the increasing global trend of health consciousness, leading to a rising preference for plant-based dietary options. This shift has expanded the consumer base for non-dairy alternatives, including hemp milk. Regulatory support for sustainable agricultural practices further boosts hemp cultivation, ensuring an adequate supply for milk production. The market benefits from increased retailer involvement in promoting plant-based foods, aligning with the growing popularity of flexitarian diets that incorporate plant-based choices alongside reduced meat consumption.
The surge in home cooking, influenced by lifestyle changes accentuated by the global pandemic, has also positively impacted the market. Other contributing factors include the appeal of clean-label products, positive trade policies facilitating global food exchange, and extensive research and development activities focusing on enhancing the quality and benefits of hemp milk. The global hemp milk market is poised for continued growth, driven by evolving consumer preferences and a commitment to healthier, sustainable dietary choices.
