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GLOBAL HEMP MILK MARKET FORECAST 2019-2027

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GLOBAL HEMP MILK MARKET FORECAST 2019-2027

Inkwood research estimates that the global hemp milk market will grow with a projected CAGR of 14.28% during the forecast period and will reach revenue of $641.27 million by 2027. For the study of the market, the forecast period considered is 2019-2027 while the base year is 2018. The rise in vegan population worldwide is considered as a major factor driving the market growth. The growing preference of vegan and plant-based diets among consumers owing to increasing concerns over the animal and environmental protection is fuelling the demand for plant-based food and beverages. Large companies such as Google, are moving towards the consumption of more plant-based products. Countries such as China are also supporting the vegan movement.

GLOBAL HEMP MILK MARKET FORECAST 2019-2027

Global Hemp Milk Market by Flavor (Flavored, Unflavored) by Product (Organic, Non-organic) by Category (Sweetened, Un-sweetened)  by Distribution Channel (Online, Offline) & by Geography

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Inkwood research estimates that the Global Market for Hemp Milk will grow with a projected CAGR of 14.28% during the forecast period and will reach revenue of $641.27 million by 2027. For the study of the market, the forecast period considered is 2019-2027 while the base year is 2018.

The Global Hemp Milk Market is driven by factors as follows:

  • Rise in vegan population
  • Increase in lactose intolerant population
  • Legalization of hemp-based products

Hemp Milk Market

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The rise in the vegan population worldwide is considered a major factor in driving market growth. The growing preference of vegan and plant-based diets among consumers owing to increasing concerns over the animal and environmental protection is fuelling the demand for plant-based food and beverages. Large companies such as Google, are moving towards the consumption of more plant-based products. Countries such as China are also supporting the vegan movement. Although plant-based food and beverages have not entered the mainstream market, it is becoming accepted globally.  Moreover, in the UK, approximately 7% of the population amounting to 3.5 million are identified as vegan. The vegan population increased by 360% in Great Britain over the last decade.

Organic is the leading segment in terms of revenue in the global hemp milk market with around 66.06% market share in 2018 and is anticipated to grow with a CAGR of XX% in the forecast period. The growing demand for pesticide-free foods is powering the demand for organically produced hemp milk. In the case of certified organic hemp milk, the producer must follow strict guidelines and inspections to guarantee that the product is 100% organic as some consumers are particular about organic products. Because of the requirement to follow stringent guidelines and inspection process, the cost of production increases substantially. Thus, the cost of organic hemp milk is much higher than the conventional variants. Also, the number of organic farmers and organic farmlands in Europe is on the rise. The growing usage of hemp milk in Australia is also driving the growth of the market. Many companies are developing pasteurization techniques to increase the shelf life of hemp milk, thereby boosting the market growth.

However, growing cases of hemp allergy are restraining the market growth. The consumption of cannabis can cause symptoms of nasal congestion, sneezing, conjunctival infection, itchy throat, coughing, and difficulty in breathing. The ingestion of hemp seeds is also associated with cases of skin irritation such as anaphylaxis, which is a severe life-threatening allergic reaction that can cause swelling of face, skin rashes, vomiting, nausea, and others. Though, the occurrence of such allergic reactions is rare. Besides, with greater availability and legalization, the occurrence of such incidents is rapidly rising.

The report scope of the global hemp milk market covers segmentation analysis of flavor, product, category, and distribution channel.

Market by Flavor:

  • Flavored
  • Unflavored

Market by Product:

  • Organic
  • Non-Organic

Market by Category:

  • Unsweetened
  • Sweetened

Market by Distribution Channel:

  • Online
  • Offline

On the basis of geography, the global hemp milk market has been segmented into four major regions:

  • North America: the United States & Canada
  • Europe: United Kingdom, France, Germany, Italy, Spain & Rest of Europe
  • Asia Pacific: China, Japan, India, Australia, South Korea & the Rest of Asia Pacific
  • Rest of World: Latin America, Middle East & Africa

Geographically, North America is the largest market with a market share of 54.84% in terms of revenue in 2018. The dominance of North America is attributed to the increasing awareness among consumers, increasing demand for hemp-based products, and changing government policies, which are primarily driving the market for hemp milk in the region. Further, the expanding demand for non-dairy or plant-based milk and the increasing vegan population is also fueling the growth of the market in recent years. In contrast, Asia Pacific is anticipated to be the fastest-growing region with a CAGR of 15.70% during the forecast period. The rising per capita income and increasing health-conscious population are expected to drive the market for hemp milk in this region. Moreover, the growing urbanization with the changing lifestyle of consumers has led to a shift in the consumption pattern among consumers, wherein consumers prefer more plant-based protein products, including hemp milk. These factors are driving the market for hemp milk in this region.

The global hemp milk market is segmented on the basis of flavor, product, category, and distribution channel. Flavor segment is sub-segmented into flavored and unflavored. On the other hand, the product is segmented into organic and non-organic.  The category segment is divided into unsweetened and sweetened, whereas the distribution channel is segmented into online and offline.

The market has the presence of several players, and some of the key players involved in the global hemp milk market are:

  • Hudson River Foods
  • Good Hemp Food
  • MaMilk
  • Others

In September 2018, Good hemp launched chilled hemp milk. The milk is advertised as a dairy alternative with a light taste and is included with calcium, vitamin B12, and vitamin D.

Key findings of the global hemp milk market are:

  • North America leads the global hemp milk market by capturing the largest market share of around 54.84% in 2018.
  • Asia Pacific hemp milk market is anticipated to grow at the highest CAGR of XX% during the forecast period of 2019-2027.
  • The continued rise of unsweetened hemp milk augmented the growth of the hemp milk market for the forecast period.
  • Organic segment accounts for the largest share in hemp milk market and is projected to grow with a CAGR of XX% during the forecasted period.
  1. RESEARCH SCOPE
    • STUDY GOALS
    • SCOPE OF THE MARKET STUDY
    • WHO WILL FIND THIS REPORT USEFUL?
    • STUDY AND FORECASTING YEARS
  2. RESEARCH METHODOLOGY
    • SOURCES OF DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • TOP-DOWN APPROACH
    • BOTTOM-UP APPROACH
    • DATA TRIANGULATION
  3. EXECUTIVE SUMMARY
    • MARKET SUMMARY
    • KEY FINDINGS
      • ASIA PACIFIC DOMINATES THE OVERALL MARKET
      • HIGH DEMAND FOR ORGANIC HEMP MILK
      • RISING DEMAND FOR UNSWEETENED HEMP MILK AMONG CONSUMERS
      • RISE IN NUMBER OF NON-GMO PRODUCTS
  1. MARKET DYNAMICS
    • MARKET SCOPE & DEFINITION
    • MARKET DRIVERS
      • RISE IN VEGAN POPULATION IS DRIVING THE MARKET GROWTH
      • INCREASE IN LACTOSE INTORELANT POPULATION
      • LEGALISATION OF HEMP-BASED PRODUCTS
    • MARKET RESTRAINTS
      • HIGH COST LEVIED ON HEMP BASED PRODUCTS
      • GROWING INCIDENCES OF HEMP ALLERGY
    • MARKET OPPORTUNITIES
      • RISING DEMAND FOR PLANT-BASED FOODS IN WELLNESS DOMAIN
      • HIGH DEMAND FOR ONLINE RETAIL STORES
    • MARKET CHALLENGES
      • PROMINENCE OF LOW-FAT MILK PRODUCTS
      • INSTABILITY IN RAW MATERIAL PRICES
  1. MARKET BY FLAVOR
    • FLAVORED
    • UNFLAVORED
  2. MARKET BY PRODUCT
    • ORGANIC
    • NON-ORGANIC
  3. MARKET BY CATEGORY
    • SWEETENED
    • UN-SWEETENED
  4. MARKET BY DISTRIBUTION CHANNEL
    • ONLINE
    • OFFLINE
  5. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTE
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
      • THREAT OF COMPETITIVE RIVALRY
    • KEY BUYING CRITERIA
      • COST
      • COMPANY BACKGROUND AND EXPERIENCE
      • EASE OF USE
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
  6. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPANY PROFILES
    • HUDSON RIVER FOODS
    • PACIFIC FOODS OF OREGON INC.
    • GOOD HEMP FOOD
    • MANITOBA HARVEST HEMP FOODS
    • MAMILK
    • GOOD MYLK CO.
    • ORGANIC HEMP MILK AUSTRALIA
    • KONOI CREMERIE VEGETALE
    • TRIBALLAT NOYAL
    • LIVING HARVEST FOODS INC.
    • ECOMIL
    • DRINK DAILY GREENS LLC

LIST OF TABLES

TABLE 1: GLOBAL HEMP MILK MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 2: GLOBAL HEMP MILK MARKET, BY FLAVOR, 2019-2027 (IN $ MILLION)

TABLE 3: GLOBAL FLAVORED MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 4: GLOBAL UNFLAVORED MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 5: GLOBAL HEMP MILK MARKET, BY PRODUCT, 2019-2027 (IN $ MILLION)

TABLE 6: GLOBAL ORGANIC MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 7: GLOBAL NON-ORGANIC MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 8: GLOBAL HEMP MILK MARKET, BY CATEGORY, 2019-2027 (IN $ MILLION)

TABLE 9: GLOBAL SWEETENED MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 10: GLOBAL UN-SWEETENED MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 11: GLOBAL HEMP MILK MARKET, BY DISTRIBUTION CHANNEL 2019-2027 (IN $ MILLION)

TABLE 12: GLOBAL ONLINE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 13: GLOBAL OFFLINE MARKET, BY REGION, 2019-2027 (IN $ MILLION)

TABLE 14: OPPORTUNITY MATRIX

TABLE 15: VENDOR LANDSCAPE

TABLE 16: GLOBAL HEMP MILK MARKET, BY GEOGRAPHY, 2019-2027 (IN $ MILLION)

TABLE 17: NORTH AMERICA HEMP MILK MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 18: EUROPE HEMP MILK MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 19: ASIA PACIFIC HEMP MILK MARKET, BY COUNTRY, 2019-2027 (IN $ MILLION)

TABLE 20: REST OF WORLD HEMP MILK MARKET, BY REGION, 2019-2027 (IN $ MILLION)

LIST OF FIGURES

FIGURE 1: GLOBAL HEMP MILK MARKET, BY FLAVOR, 2018 & 2027 (IN %)

FIGURE 2: GLOBAL HEMP MILK MARKET, BY FLAVORED, 2019-2027 (IN $ MILLION)

FIGURE 3: GLOBAL HEMP MILK MARKET, BY UNFLAVORED, 2019-2027 (IN $ MILLION)

FIGURE 4: GLOBAL HEMP MILK MARKET, BY ORGANIC, 2019-2027 (IN $ MILLION)

FIGURE 5: GLOBAL HEMP MILK MARKET, BY NON-ORGANIC, 2019-2027 (IN $ MILLION)

FIGURE 6: GLOBAL HEMP MILK MARKET, BY SWEETENED, 2019-2027 (IN $ MILLION)

FIGURE 7: GLOBAL HEMP MILK MARKET, BY UN-SWEETENED, 2019-2027 (IN $ MILLION)

FIGURE 8: GLOBAL HEMP MILK MARKET, BY ONLINE, 2019-2027 (IN $ MILLION)

FIGURE 9: GLOBAL HEMP MILK MARKET, BY OFFLINE, 2019-2027 (IN $ MILLION)

FIGURE 10: PORTER’S FIVE FORCE ANALYSIS

FIGURE 11: KEY BUYING IMPACT ANALYSIS

FIGURE 12: GLOBAL HEMP MILK MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)

FIGURE 13: UNITED STATES HEMP MILK MARKET, 2019-2027 (IN $ MILLION)

FIGURE 14: CANADA HEMP MILK MARKET, 2019-2027 (IN $ MILLION)

FIGURE 15: UNITED KINGDOM HEMP MILK MARKET, 2019-2027 (IN $ MILLION)

FIGURE 16: GERMANY HEMP MILK MARKET, 2019-2027 (IN $ MILLION)

FIGURE 17: FRANCE HEMP MILK MARKET, 2019-2027 (IN $ MILLION)

FIGURE 18: SPAIN HEMP MILK MARKET, 2019-2027 (IN $ MILLION)

FIGURE 19: ITALY HEMP MILK MARKET, 2019-2027 (IN $ MILLION)

FIGURE 20: REST OF EUROPE HEMP MILK MARKET, 2019-2027 (IN $ MILLION)

FIGURE 21: CHINA HEMP MILK MARKET, 2019-2027 (IN $ MILLION)

FIGURE 22: JAPAN HEMP MILK MARKET, 2019-2027 (IN $ MILLION)

FIGURE 23: INDIA HEMP MILK MARKET, 2019-2027 (IN $ MILLION)

FIGURE 24: SOUTH KOREA HEMP MILK MARKET, 2019-2027 (IN $ MILLION)

FIGURE 25: AUSTRALIA HEMP MILK MARKET, 2019-2027 (IN $ MILLION)

FIGURE 26: REST OF ASIA PACIFIC HEMP MILK MARKET, 2019-2027 (IN $ MILLION)

FIGURE 27: LATIN AMERICA HEMP MILK MARKET, 2019-2027 (IN $ MILLION)

FIGURE 28: MIDDLE EAST & AFRICA HEMP MILK MARKET, 2019-2027 (IN $ MILLION)

  1. MARKET BY FLAVOR
    • FLAVORED
    • UNFLAVORED
  2. MARKET BY PRODUCT
    • ORGANIC
    • NON-ORGANIC
  3. MARKET BY CATEGORY
    • SWEETENED
    • UN-SWEETENED
  4. MARKET BY DISTRIBUTION CHANNEL
    • ONLINE
    • OFFLINE
  5. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • SPAIN
      • ITALY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • AUSTRALIA
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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