Hemp Milk Market to Record an Exponential CAGR by 2025
Hemp
milk is a plant based milk alternative to milk from mammals, it is
often termed as milk substitute or milk alternative. It is generally
prepared by soaking hemp seeds in water which then yields a creamy nutty
substance. Hemp milk is used for direct consumption as plan or flavored
drinking milk as well as a substitute of milk beverages such as tea and
coffee. In coffee, hemp milk is used to make a better latte art. The
advantages of consuming hemp milk have attracted consumers looking for a
healthy low calories alternatives, Hemp seeds are rich in vitamins,
minerals and have healthy plant based fats, antioxidants and
chlorophyll. Hemp is also a good source of Omega-3 and Omega-6 fatty
acids, which are essential for healthy heart. Moreover hemp milk is a
safer option for people with nut, soy and dairy allergies and the fact
that these allergies are fairly common, hemp milk poses as immense
opportunity in the market of overall dairy alternatives.
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Milk
alternative have a rising acceptance not only among vegans but also
among health conscious consumers. Of this larger segment hemp milk is
available in various product categories such as flavored, plain and
flavored unsweetened. Hemp milk is segmented on the basis of type as;
plane and flavored, where vanilla and chocolate flavors are some of the
key flavors in hemp milk.
Based
on distribution channel hemp milk market is segmented as,
hypermarkets/supermarkets, online stores, convenience stores and other
retail formats. Sales from supermarkets in Europe has witnessed growth
in recent years, this is due to the private label
Hemp
has a creamy and nutty flavor than soy milk or rice milk and it is
often regarded to be a bit thicker than other dairy and no-dairy
products. In coffee latte, hemp milk is said to produce better latte art
and is becoming the favorite milk substitute used by baristas.
The
health trend is now on an exponential growth, consumers want food to be
healthy and have thus become more demanding. Manufacturers are also
looking to innovate and provide a healthy alternative to consumers. This
is well synergized with the organic trend where consumers are willing
to pay more for organic and healthy food. With small and medium scale
enterprises (SME’s) having witnessed double digit growth, food and
beverages giant have focused their investment in such produces of
organic and healthy food, acquisition and mergers have become common in
order gain substantial market capitalization.
Lactose
intolerance and milk allergy are key drivers that are driving new
innovation in products, which is growing the market. Lactose free milk
is also available in the market, however the dairy substitutes including
hemp milk is an effective option for people with other milk protein
allergies. Many people have started opting for completely dairy free
alternatives and this is where hemp milk provides creamy nutty flavor
alternative.
Western
Europe and North America among one of the most attractive markets for
milk alternatives. Plant based milk have different product favorite by
countries which can be observed through the increase in sales of the
dedicated product. The U.S. has a high sale of almond milk and has
ranked up to become the favorite milk alternative, oat milk in Sweden,
chilled soy milk in the U.K. among other.
Popular
trends on a global level which underlines the growth driver of hemp
milk is vegan food, goggle trends shows a significant acknowledgement
for veganism. Countries such as Australia, New-Zealand, Canada, the U.S.
and the U.K. have reported highest searches for vegan food. Similarly
dairy free soy milk, almond milk and hemp milk searches have shown a
high interest from people in the same countries.
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Hemp
milk products have been introduced by the manufacturers in both
flavored and unflavored product categories and a demand surplus has also
been noticed in the sales of these products some of the global market
players participating in hemp milk market include; Braham & Murray,
Healthy Brands Collective, Pacific Foods Of Oregon, Inc., Wild Harvest
Organics, Drink Daily Greens LLC, Waska Farms among others.
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