Dublin, March 05, 2024 (GLOBE NEWSWIRE) — The “Hemp Milk Market by Variant (Flavored, Unflavored), Type (Sweetened, Unsweetened), Category (Organic, Conventional), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, Online Stores), and Region 2024-2032” report has been added to ResearchAndMarkets.com’s offering.
The global hemp milk market size reached US$ 290.1 million in 2023. The market is projected to reach US$ 812 million by 2032, exhibiting a growth rate (CAGR) of 12.12% during 2023-2032
The increasing health consciousness resulting in a subsequent shift toward plant-based dietary options the increasing awareness of food allergies among the masses, and rising product adoption in the foodservice industry represent some of the factors that are propelling the market.
Hemp milk is a plant-based milk alternative derived from the seeds of the hemp plant, a member of the Cannabis sativa family. This non-dairy milk has gained recognition for its high nutritional content, including essential fatty acids, proteins, and a range of vitamins and minerals. It is produced by blending hemp seeds with water and then separating the solid components, resulting in a creamy, nutty-flavored liquid. One of its distinctive characteristics is its rich omega-3 and omega-6 fatty acid profile, making it a sought-after option for health-conscious consumers. The milk is naturally free from lactose, soy, and gluten, thereby catering to dietary needs and lifestyle choices such as veganism and lactose intolerance. Functionally, hemp milk serves as a viable alternative for people seeking to avoid animal-based products while still obtaining necessary nutrients and enjoying a palatable taste.
The global market is mainly driven by increasing health consciousness among consumers resulting in a subsequent shift toward plant-based dietary options. This trend has led to a broadening consumer base for non-dairy milk alternatives, including hemp milk. Moreover, regulatory frameworks advocating for sustainable agricultural practices are further encouraging the cultivation of hemp, thus enhancing its availability for milk production. Besides this, the growing retailer involvement in the promotion of plant-based foods is also creating lucrative opportunities in the market.
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https://finance.yahoo.com/news/hemp-milk-markets-flavored-unflavored-153800167.html
