Hemp milk is increasing in popularity and the global market size is set to grow significantly in the years ahead claims a new report.
Hemp milk is a non-dairy beverage derived from hulled (shells removed) hemp seeds, which are blended with hot water and then wet milled until a desired consistency is reached before further processing. Hemp milk is a source of protein and essential nutrients such as calcium, iron and phosphorous, and various vitamins plus essential fatty acids. With a creamy consistency and an earthy/nutty flavor, it is naturally free from lactose, soy, and gluten and has been gaining acceptance among consumers looking for an alternative to dairy.
A new report from Research And Markets pegs the 2023 global hemp milk market at around US$ 290.1 million. It states the market is projected to reach US$ 812 million by 2032, boasting 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,” states the report.
As the market and products have evolved, hemp milk options now include enriched, sweetened and flavored versions, some fortified with additional vitamins and minerals. There are also a bunch of recipes freely available that show people how to make hemp milk at home.
The report notes the sweetened segment in particular is growing and now accounts for the majority of market share due to consumer preference for richer flavors .
On a related note, the use of the term “milk” in relation to plant-based alternatives has met some resistance from the dairy sector, which isn’t surprising. But some manufacturers have opted to use terms such as “mylk” instead.
However, in draft recommendations for industry on plant-based milk alternatives published early last year the, U.S. Food and Drug Administration (FDA) didn’t object to the term “milk” being used – but recommended products include a voluntary nutrient statement indicating how they compares with dairy milk; as hemp products are not nutritionally equivalent.
Alternative milk products are just one of the myriad uses for hemp.
