Hemp Milk Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
- Transparency Market Research
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.
Hemp Milk Market Segmentation
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 Milk market Global Market Trends and Market Drivers:
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.
Hemp Milk Market Key Players:
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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