Market Overview-

The global hemp milk market is set to gain impetus from the increasing consumption of plant-based milk. Fortune Business Insights™ presented this information in an upcoming report, titled, “Hemp Milk Market Size, Share & Industry Analysis, By Variants (Flavored, Unflavored), By Type (Sweetened, Unsweetened), By Category (Organic, Conventional), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Retail) and Regional Forecast, 2024-2032.” The report further states that hemp milk contains a high amount of vitamins, protein, low-fat content, and omega-3 fatty acids.

A list of all the renowned hemp milk producers operating in the global market:

  • 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.
  • The Fix
  • Tilray, Inc.
  • Other prominent companies

How Did We Develop This Report?

We have conducted extensive primary and secondary research to collect information on various aspects of the market. This included interviews with key stakeholders, such as marketing managers, sales managers, product managers, and C-level executives, to gain insights into application patterns, average pricing, raw material supply and demand, and growth rates. Additionally, we utilized credible paid databases, relevant associations, investor presentations, industry journals, and annual reports to provide our clients with detailed analyses of value and supply chains, revenues, restraints, opportunities, and trends.

Drivers & Restraints-

Increasing Incorporation in Lattes and Smoothies by Restaurants to Aid Growth

The rising consumption of convenience food and beverages because of the fast-paced lifestyles of people across the globe is set to propel the hemp milk market growth throughout the forthcoming years. Besides, the incorporation of the product by several cafes and restaurants in multiple beverages, such as smoothies and lattes would also help in driving growth. However, the presence of numerous substitutes, namely, soy milk and almond milk may hinder demand.

Regional Analysis-

Rising Vegan Population to Favor Growth in North America

North America is likely to generate the largest hemp milk market share in the coming years. This growth is attributable to the increasing awareness among the masses about the beneficial properties of hemp milk. Also, the changing regulatory landscape and rising vegan population in the region would accelerate growth.

Europe, on the other hand, is expected to show substantial growth in the near future on account of the high demand for plant-based milk beverages from consumers. Thus, manufacturers are using this product in various functional beverages. In Asia Pacific, the availability of raw materials would aid growth.

Competitive Landscape-

Key Players Focus on Developing Novel Products to Attract More Consumers

The global market for hemp milk contains numerous producers that are persistently striving to gain a competitive edge. To do so, they are focusing on launching cost-effective and unique help milk products for attracting more consumers. Below are the two latest industry developments:

  • November 2020: Good Hemp, a provider of affordable beverages infused with hemp introduced its latest oat and hemp milk alternative. It is called Oat + Hemp M*lk and it is available in Waitrose. The company aims to bring the environmental and health benefits of hemp to the masses.
  • October 2020: Good Hemp unveiled its new CBD Hemp Milk named CBD Barista Seed Milk. As per the company officials, hemp milk is a natural pairing for CBD. Both of them can develop delicious milk that can be consumed by non-dairy and dairy drinkers to boost their overall wellbeing.

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

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