Hemp milk market expected to boom by 2032

March 6 (UPI) -- Produced by blending water and industrial hemp seeds, hemp milk is enjoying an increased popularity over the last five years thanks to changing tastes and sustainable farming practices.

In 2023, the global hemp milk market size reached $290.1 million, it is projected to reach $812 million by 2032.

According to a ResearchandMarket study, hemp milk has grown in popularity due to a "shift toward plant-based dietary options" and an increasing awareness of food allergies among the public.

Like oat milk or almond milk, hemp milk is plant-based and has gained recognition for its high nutritional content, including essential fatty acids, proteins, vitamins A, D, and B12, as well as minerals such as phosphorus and zinc.

While hemp and marijuana are similar plants, there are key differences. According to the U.S. Department of Agriculture, marijuana typically contains 3 to 15% THC, while industrial hemp contains less than 1%. Under the Agriculture Improvement Act of 2018 (2018 Farm Bill) the production of hemp and hemp seeds were removed from the Drug Enforcement Administration's schedule of Controlled Substances.

Hemp milk, made from the seeds of industrial hemp, is popular with people who are sensitive to dairy and/or nuts. According to the study, hemp milk has thrived due to new regulatory frameworks advocating the growth of hemp as well as a growing involvement in the promotion of plant-based foods from retailers.

The study found hemp milk has also found a foothold in restaurants, cafes, and commercial kitchens as an alternative to dairy milk in various recipes and beverages.