Middle East and Africa Hemp Milk Market

Middle East and Africa Hemp Milk Market Analysis:

Middle East and Africa Hemp Milk Market is expected at USD xx.xx million in 2021 and is anticipated to the extent an over of USD xx.xx million by the end of the assessment period. The Middle East and Africa Hemp Milk Market is estimated to experience reasonable growth to record a CAGR of xx.xx% throughout the estimated period (2022 - 2027).

Hemp milk, or hemp seed milk, is plant milk made from hemp seeds soaked and ground in water. The result resembles milk in color, texture, and flavor. Hemp is suitable for organic growing and labeling. Natural hemp milk can also be sweetened or flavored. Compared to soy milk, in coffee farming, hemp milk is said to produce better latte art and has a more similar texture to cow's milk. Producing hemp milk requires hemp seeds, water, and a blender or juicer. Many recipes call for ground vanilla or vanilla extract to add flavor and some type of sweetener. After mixing all the ingredients, some people pour the hemp milk through cheesecloth and a strainer to achieve a smoother, more refined milky texture, but this process is optional. 

Recent Developments

Pittsburgh-based EQT Corp. is on track to become the largest natural gas producer in the United States after announcing that it will acquire another shale drill, Rice Energy. After the shutdown, EQT production will total 3.6 billion cubic feet of natural gas per day, surpassing US production from large oil tanker Exxon Mobil and shale drilling pioneer Chesapeake Energy. The acquisition expands EQT's presence in the Marcellus and Utica shale regions. The underlying Pennsylvania, Ohio, and West Virginia area is the epicenter of an American natural gas boom produced by hydraulic fracturing, the process of injecting water, minerals and chemicals underground to release oil and gas from rock formations.

Edinburgh-based private equity firm Inverleith has acquired a majority stake in Good Hemp, a British hemp-based food and beverage company, in a deal with its parent company Braham and Murray. Inverleith is targeting investments in UK and European based consumer brand companies with revenues between $ 6.4 million and $ 48.6 million. Driven by macroeconomic trends that include increased consumer awareness of physical and mental well-being and the role that food plays in human health; growing popularity of artisan brands; adoption of electronic commerce as a growth engine; and the ability of small start-ups to rapidly innovate and adapt to market demands, Inverleith acquires strategic majority or minority stakes in scalable companies with a "strong defensible market position," according to the company's website.

NutraCea (NTRZ), a world leader in stabilized rice bran (SRB), nutrient research and technology, announced today that it has completed the purchase of Irgovel, the largest rice bran oil processing plant in South America, for a price purchase of about $ 14 million. The 70,000 tonnes annual capacity facility located in Pelotas, Brazil, offers NutraCea the ability to sell rice bran oil in addition to its full portfolio of proprietary and proprietary stabilized rice bran products and second stage derivatives in the Brazilian market and worldwide. NutraCea announced its intention to purchase the facility on February 4 subject to certain closing conditions, which are now being met.

Market Drivers and Restraints:

The growing preference for healthier food products among people and the high consumption of various hemp dairy products among consumers is expected to drive the Middle East and Africa Hemp Milk Market for years to come. In addition, the growing awareness among people about various health benefits, such as prevention of heart and skin diseases, cardiovascular diseases and others associated with hemp milk, is expected to increase in the market in the coming years. On the other hand, the increasing demand for products in the health sector and the increasing research activities for the preparation of healthier products will create more new opportunities for the growth of the hemp milk market during the forecast period mentioned above. Furthermore, the growing trend of using hemp milk to make latte in various cafes in various economies and the increasing availability of hemp dairy products in supermarkets, hypermarkets and e-commerce sectors are expected to fuel the market for years to come. . There are certain restrictions and challenges that can hamper the growth of the market. The immediate availability of hemp milk substitutes on the market, such as cow's milk and the like, is likely to constitute a market restriction.

Market Segmentation

The Middle East and Africa Hemp Milk Market can be segmented according to products, variants, categories and distribution channel.

Based on the products, the Middle East & Africa hemp milk market is segmented into organic and non-organic.

By variants, the market is divided into flavoured and unflavoured.

On the basis of categories, the market is classified into sweetened and unsweetened.

By Distribution channel, the market segments are online and offline.

Impact of COVID-19 on Middle East and Africa Hemp Milk Market

The current understanding is that COVID-19 originated in the wet markets of Wuhan, where the meat trade from exotic animals such as pangolins, tigers, foxes, etc. is marketed, and another reason why consumers are wary of unfamiliar or unknown foods in general. Global and exploratory food experiments may see a decline in popularity, but local sourcing and the locavore diet may lead to increased consumption. COVID-19 has affected almost every country in the world and India is no exception. Some countries are severely affected, while others have managed to control the spread by implementing blockades and maintaining social distancing. At a press conference, the World Bank said India would likely post its worst growth performance since liberalization in 1991 this fiscal year due to the Corona outbreak.

Regional Analysis

The market for Middle East and Africa Hemp Milk has been classified on the basis of geography to offer a clear understanding of the market. The Middle East and Africa Hemp Milk Market has been divided into South Africa, Egypt, Saudi Arabia, United Arab Emirates, Israel, and Rest of Middle East and Africa. The Middle East and Africa Hemp Milk Market is expected to register average growth in the market, due to the increasing availability of hemp milk in hypermarkets, supermarkets and other distribution channels in many countries in these regions.

Leading Company

Manitoba Harvest Hemp Foods had the largest share of the Middle East and Africa Hemp Milk Market in terms of sales revenue in 2021.

Key Players

The Middle East and Africa Hemp Milk Market is concentrated with well-established players. Key players in the Middle East and Africa Hemp Milk Market include Victory Hemp Foods, milkadamia, Ecomil, Drink Daily Greens LLC, Manitoba Harvest Hemp Foods, Organic Hemp Milk Australia, Goodmylk Co., The Fix Juice Pty Ltd, Cell-Nique Corporation, Good Hemp Food, Wild Harvest, PACIFIC FOODS OF OREGON, LLC., and among other domestic and global players