Hemp Milk Market

Hemp Milk Market Outlook from 2024 to 2034

The global hemp milk market size is anticipated to reach USD 129 million in 2024. From there, the sector is projected to record a CAGR of 5.9% during the assessment period. By 2034, global hemp milk sales are estimated to total USD 229 million.

Hemp seed milk sales are continuously rising on account of surging health awareness among the masses which is leading to a shift to plant-based dietary options. This trend is resulting in an increasing circle of consumers for non-dairy milk alternatives, such as hemp milk.

Regulatory frameworks advocating for sustainable agricultural practices are also pushing the cultivation of hemp, thereby improving its availability for milk production. Apart from this, the increasing retailer involvement in advertisements for plant-based foods is also creating profitable opportunities for hemp seed milk players.

Global Hemp Milk Industry Assessment

Attributes	Description
Estimated Size, 2024	USD 129 million
Projected Size, 2034	USD 229 million
Value-based CAGR (2024 to 2034)	5.9%

Growth in flexitarian diets that incorporate plant-based options and minimize meat consumption is also appraising the market’s growth. Further, a strong appeal for clean-label products is positively impacting product sales. Additionally, increasing focus on research and development activities to enhance the quality of hemp milk is another prominent driver that is creating intrigue for hemp seed milk offerings.

Hemp milk is naturally lactose-free and soy-free, which makes it suitable for those with allergies and dietary restrictions. Such dietary inclusivity is broadening hemp seed milk’s appeal among several consumers. This milk is neutral but slightly nutty in taste, which allows for versatility in culinary applications. Hemp seed milk can be enjoyed alone or in combinations like in smoothies as it adds a nutritional boost and a subtle flavor.

Certain limitations however restrict the sector’s growth. Players can turn this around by enlightening consumers and removing misconceptions about the product. Further, they can improve their production method so that hemp milk becomes a mainstream product and becomes widely adopted among seekers of plant-based milk options.

Key Industry Highlights

Increasing Focus on Sustainable Practices Sets the Trend in the Hemp Milk Market

Hemp plants can be cultivated with relatively fewer resources than other cash crops. This encompasses less requirement for water, pesticides, and synthetic fertilizers. Thus, resulting in a reduced environmental footprint. This, along with growing vigilant consumers who are consciously choosing sustainable choices, drives the demand for hemp seed milk that aligns with these ethical considerations.

Hemp milk also serves as a suitable option for consumers looking to curtail their environmental impact. The focus on sustainable practices is not only a consumer-driven phenomenon but also forms a suitable corporate strategy. Players are allocating their funds to sustainable farming techniques for hemp and highlighting their eco-friendly practices in marketing campaigns.

Increasing Hemp Seed Milk Adoption in the Foodservice Sector

The food service sector plays an instrumental role in shaping food and beverage trends. With growing traction for plant-based options, hemp milk is being increasingly adopted across cafes, restaurants, and commercial kitchens. Hemp seed milk has paced many miles from being sold in specialty coffee shops to penetrating extensive food service sectors.

Many recipes are now surfacing that use hemp-seed milk. Additionally, the product is now being sold as a customizable option in fast-food chains. Gradually, it has also made its way into institutional settings like hospitals and schools.

Key Restraining Factors that Limit Industry Growth

The target sector, although experiencing a rise in popularity, faces challenges that restrict wider acceptance. Regulatory uncertainty surrounding hemp cultivation and processing creates hurdles for producers. Additionally, the association of hemp with marijuana leads to consumer hesitancy. While some might find the price point of hemp milk unappealing, limited availability in stores further restricts access.

2019 to 2023 Global Hemp Milk Sales Analysis Compared to Demand Forecast from 2024 to 2034

The hemp milk market size was valued at USD 101 million in 2019. The sector’s size stretched to USD 117 million by 2023, expanding at a 6% CAGR. The surge in popularity of hemp milk among the health-conscious population has been a key driver for this sector.

This non-dairy beverage is a renowned source of essential nutrients like iron, calcium, and phosphorus, as well as protein. Owing to hemp seed milk’s creamy texture and nutty/earthy flavor, the product has been gaining acceptance among consumers seeking dairy alternatives.

The industry growth fluctuated with the onset of the coronavirus outbreak, which stopped all economic activities. However, post that period, the industry has been growing in full swing. In 2024, the industry is projected to reach USD 129 million. Henceforth, the sector is anticipated to pursue growth of 5.9% CAGR.

Growth factors influencing the hemp milk market over the next ten years include rising awareness about food allergies among the public and surging product adoption in various sectors. Players are also evolving their product offerings by developing sweetened, enriched, and flavored versions, some of them fortified with extra minerals and vitamins.

Semi Annual Market Update

The table below exhibits growth projections for the target industry over different semi-annual periods ranging from 2024 to 2034. The first half (H1) of the period between 2023 to 2033 saw the business increase at a 5.8% CAGR. This is followed by a slight increase of 0.2% in the second half (H2) of the same decade.

Particular Value	CAGR
H1	5.8% (2023 to 2033)
H2	6% (2023 to 2033)
H1	6.2% (2024 to 2034)
H2	6.1% (2024 to 2034)

In the forthcoming period, in the H1 2024 to 2034, the industry is expected to rise at a 6.2% CAGR. After that, the sector is projected to expand at 6.1% CAGR.

Market Concentration

Tier 1 companies, having vast global reach, are adopting various strategies as they increase their stake in the sector. Tier 1 companies presently account for 50% of market concentration revenue (MCR). A key strategy that they are employing is the acquisition of smaller, established hemp seed milk brands. As a result, they gain instant market share, access to varied distribution channels, and brand recognition. This allows them to rapidly gain a strong foothold.

Tier 1 companies are also aligning their efforts with the sustainability trends in the hemp milk industry. Consequently, players are using resources to execute sustainable practices across their supply chain. This is visible in packaging materials and sourcing of hemp seeds. This strategy also proves to be a strong marketing differentiator.

Tier 2 companies, with wide reach in certain regions, register a 21.7% of share. These players are highlighting the use of regionally sourced hemp seeds among consumers who value freshness, appreciate a smaller environmental footprint, and support local agriculture. To strengthen this message, they are forming alliances with local hemp farms.

Tier 3 companies, those with a local presence, account for 28.3% of market concentration revenue. National brands in this tier are prioritizing mass appeal with general flavors. These companies are differentiating themselves by providing distinct and regional flavor profiles to serve the local tastes. This could include local spices, ingredients, and fruits to serve the regionally specific hemp milk varieties.

Players also understand the key role of the eCommerce sector in the growth of the hemp milk market. Product discounts, seasonal discounts, vouchers, rebates, etc. are some strategies that players are adopting to increase their sales and stake in the sector.

Country-wise Insights

The table below gives growth predictions for key countries. The estimations are almost similar in most of the countries, with slight variations marking negligible differences. Among these five countries, Italy emerges as a top player, expanding at a relatively higher CAGR of 6.9%. This indicates growing consumer preferences for hemp milk in the country.

Countries	CAGR 2024 to 2034
United States	5.7%
Germany	6.1%
Italy	6.9%
India	6.1%
Indonesia	6.3%

Wholesalers of Hemp Seed Milk Gain an Edge in the United States

Hemp milk demand in the United States is expected to increase at a 5.7% CAGR over the assessment period. Growing awareness about the nutritive value of plant-based milk products over traditional cow milk is a key reason behind this surge. More people are now aware of the healthy constituency of hemp milk, which can be broken down into protein, omega-3 fatty acids, and low-fat content.

Players in the United States are launching multiple flavors in the hemp seed milk category. In doing so, they are grabbing consumers’ eyeballs and surpassing their sales target. Further, the wholesale providers in the nation are keen on selling their products to stores and concepts.

Stores are looking to provide clients with a clean, bulk solution. Food and beverage brands are also seeking high-quality hemp-seed milk to develop exciting recipes and creations.

Italy Emerges as a Key Consumer of Hemp Seed Milk as It Offers Guilt-free Indulgence

In Italy, sales are projected to continuously expand at a 6.9% CAGR. The growing population of health-conscious consumers in Italy seeking non-dairy products is a prominent driver for this sector.

Players in Italy are promoting their hemp seed milk offerings as guilt-free, emphasizing the product’s natural date sweetness. Consequently, they are selling them as a heavenly plant-based treat to customers.

An emerging demand for organic plant-based milk offerings is fueling sales of hemp seed milk. Plus, certain manufacturers are using entire seeds, so that consumers reap the benefit of natural protein, fiber, and fat.

Growing Awareness about the Benefits of Omegas Fuel Product Sales in India

The hemp milk sales forecast for India is 6.1% from 2024 to 2034. The growing population in India is turning to plant-based diets due to health concerns, ethical beliefs, and environmental concerns. Hemp seed milk provides a soy-free, lactose-free, and vegan substitute for dairy milk.

The inclusion of omega-3 and omega-6 fatty acids is especially attractive to health-conscious health-wary consumers. Players are also investing in the successful marketing of hemp seed milk to gain familiarity among consumers.

Category-wise Insights

Given below are the star segments in the landscape. The flavored hemp seed milk in the product type category is predicted to record a significant share of 13.6% in 2024. Under the end-use category, the nutraceutical segment is projected to hold a value share of 15.6% in 2024.

Flavored Hemp Seed Milk Gaining Substantial Value Share

Segment	Flavored Hemp Seed Milk (Product Type)
Value Share (2024)	13.6%

The flavored hemp seed milk segment is projected to acquire a share of 13.6% in 2024. Demand for flavorful hemp seed milk offerings is rising due to the widening preferences for enjoyable and familiar flavors like vanilla, coffee, chocolate, and strawberry.

Several flavored options are naturally lactose-free, vegan, and often soy-free. This permits their use among the growing population of consumers adhering to plant-based diets or with dietary restrictions. Strengthening distribution channels of hemp milk are also contributing to the increased sales of hemp milk.

Health Benefits of Hemp Milk are Driving its Use in the Nutraceutical Industry

Segment	Nutraceutical Industry (End-use)
Value Share (2024)	15.6%

The nutraceutical industry is a significant consumer of hemp milk, accounting for 15.6% in 2024. Emerging health trends are fueling the use of hemp milk in the nutraceutical sector. This can be attributed to the complete protein profile of the target milk. These products are targeted at vegans, vegetarians, athletes, or those looking to raise their protein intake for various health goals.

Hemp milk also contains vitamins and minerals like vitamin E, calcium, and magnesium, besides healthy fats and protein. This nutritional profile permits nutraceutical firms to develop a wider range of products, including protein shakes and meal replacement beverages, all featuring hemp milk.

Competition Outlook

The competitive landscape of the hemp milk industry is quite intense. Players are consistently working on product diversification by launching multiple product flavors and fortifications. These firms are carrying out research to verify the nutritional aspects of hemp milk, aiming to distinguish it from various other plant-based milk alternatives.

Participants are also forging partnerships with retailers to guarantee broader distribution channels. To serve the health-conscious segment, initiatives are going on to develop non-GMO and organic formulations.

Key players in the hemp milk industry are also making efforts to educate consumers about the benefits of hemp milk over conventional dairy products. They are also regulating consumer preferences closely via social media interactions and market research.

Industry Updates

• Manitoba Harvest Hemp Foods, which is a fully-owned subsidiary of Tilray Brands, Inc. released the first Hemp Hearts that are Regenerative Organic Certified, in April 2023. The product is exclusively available at select Whole Foods Market stores throughout the United States. After the exclusivity period, the product is projected to continue to be present at Whole Foods Market and other stores in Canada and the United States.
• In November 2023, Modicare introduced an all-new Hemp Lab range, which is a holistic skincare solution. The solution is replete with Vitamin C and Hemp Seed Oil, designed for balance and repair.

Leading Hemp Milk Brands

• Hudson River Foods
• Pacific Foods of Oregon Inc.
• Good Mylk Co.
• California Natural Products
• SunOpta
• Braham & Murray Good Hemp
• Golden Hemp Company
• Manitoba Harvest Hemp Foods
• Elmhurst1925
• Living Harvest Foods Inc.
• Ecomil
• Z-company
• Others

Key Segments of the Market Report

By Flavor:

Hemp seed milk is available in flavored and unflavored formats.

By Type:

The industry is categorized based on type into sweetened and unsweetened milk.

By End-use:

Different end-uses of the product are the food processing industry, bakery products, beverage industry, foodservice industry, nutraceutical industry, and others.

By Distribution Channel:

Various distribution channels include business-to-business and business-to-consumer. The latter segment is divided into convenience stores, supermarkets/hypermarkets, specialty stores, and online retail.

By Region:

Product sales analysis in regions like North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa, and Oceania is offered in the report.

Frequently Asked Questions

How big is the hemp milk market?

The global industry size is projected to be USD 129 million in 2024.

What are the growth projections for the industry?

The target market is projected to expand at a 5.9% CAGR over the estimated period.

What is the estimated market value for 2034?

The sector is forecast to reach USD 229 million by 2034 end.

Which Country is Estimated to Observe Rapid Growth?

Italy is projected to record the highest CAGR of 6.9% through 2034.

Who are the Top Producers of the Product?

Ecomil and Z-company are the top product producers.