Almond Drink Market Size was valued at USD 4.5 Billion in 2022. The Almond Drink market industry is projected to grow from USD 4.77 Billion in 2023 to USD 7.60 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.00% during the forecast period (2023 - 2032). Growing awareness of the health benefits of almonds and Almonds are high in protein, fibre, vitamins, and minerals. Almond drinks are also high in these nutrients, making them a healthier alternative to cow's milk are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for the shift towards diets based on plants and ways of life has increased the demand for almond milk along with various dairy alternatives. Consumers are increasingly looking for healthier and more sustainable options. Almond milk manufacturers are expanding their flavor offerings beyond the traditional unsweetened and original varieties. Flavors such as vanilla, chocolate, matcha, and others cater to a wide range of taste preferences.
Additionally, a variety of the key factors driving the growth of the almond-based drinks marketplace is a growing percentage of lactose-intolerant people. These customers frequently seek alternatives to dairy in their diets. As it is vegan, lactose-free, and rich in vegetable proteins, almond milk is a particularly popular substitute. As a result, the consumption of almond drinks among this population is increasing. Lactose-intolerant people prefer almond milk because of its nutty flavor, and it is also a healthy option. Almond milk, along with other almond beverages, can help people with hypercholesterolemia (high levels of LDL (low-density lipoprotein) cholesterol in their blood). Almond drinks contain monounsaturated fatty acids, which have been shown to lower blood cholesterol levels and reduce inflammatory processes, thereby driving the almond milk market forward. Almond drinks help people maintain a healthy weight and improve digestion, which is expected to drive the almond drink market during the forecast period.
The increasing innovations and new product developments in the almond beverage segment are driving market growth. Manufacturers' emerging techniques, such as fortifying almond beverages with certain nutrients to make them more comparable to dairy milk, and packaging innovations, are expected to boost their market demand. The increasing use of almond milk in a variety of beverages throughout the food and beverage sector is expected to drive market development in the coming years. In light of developing social and ecological worries, the acceptance of absorbing plant-based snacks and drinks has risen considerably in recent years. A vegan or plant-based diet is also popular among consumers because it is perceived to be safer and healthier. The growing popularity of plant-based beverages is primarily driving the almond beverage market's expansion. Individuals with lactose intolerance and lactose allergies, who are unable to consume dairy milk, are the most likely to consume almond beverages. The Leading manufacturers' creation of imaginative almond milk-based drinks to capitalize on the growing trend of nut milk is expected to drive market growth in the coming years.
For instance, the growing number of lactose intolerant people is one of the key drivers of the expansion of the almond drink market. These customers frequently seek dairy substitutes in their meals. Almond milk is the most commonly used substitute because of its vegetarian status, absence of lactose, and substantial plant protein content. As a result, almond drinks are becoming more popular among this demographic. The aforementioned almond butter the marketplace will see a number of lucrative opportunities as a result of rising demand for natural snacks along with increased demand for almond milk in confectionery and bakery items. Aflatoxin contamination of almond milk may pose a significant threat to the market's growth rate because it disrupted supply and manufacturing within the industry. Thus, driving the Almond Drink market revenue.
The Almond Drink market segmentation, based on Form includes Sweetened, Unsweetened and Flavoured. The Unsweetened segment dominated the market, unsweetened almond drinks are a good source of protein, fiber, vitamins and minerals. In developing economies, People are increasingly turning to plant-based milk alternatives for a variety of reasons, including health, ethical, and environmental concerns. Unsweetened almond milk is a popular plant-based milk substitute.
The Almond Drink market segmentation, based on Application, includes Food & Beverages, and Cosmetics. The Food & Beverages category generated the more than 50% revenue due to the growing demand for plant-based milk alternatives in the food and beverage industry. Almond milk is prominent as an excellent alternative to cow's milk. Almond milk contains protein, fiber, vitamins, and minerals. It is also low in sugar and calories, making it a healthy alternative to cow's milk. The percentage of people adopting plant-based diets is rapidly increasing. Almond milk is high in calcium and protein, which can be difficult to obtain on a plant-based diet.
Figure 1: Almond Drink Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Almond Drink market segmentation, based on Distribution Channel, includes Hypermarkets/Supermarkets, Department & Grocery Stores, Online Retailers, Others. The hypermarkets/supermarkets category generated the most income. Consumers can easily find and purchase their preferred products in hypermarkets and supermarkets, which stock a wide range of almond drinks from various brands and flavors. Other goods and amenities offered by hypermarkets and supermarkets involve groceries, fresh produce, and prepared foods. It enables customers to buy all of their necessities in one location, saving them time and effort.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Almond Drink market area will dominate this market, increased lifestyle adoption and dietary changes are expected to fuel market revenue growth, depending on variables such as rising demand for frozen desserts. Rising environmental concerns are expected to increase consumer adoption of almond milk in their daily routines, fueling regional market revenue growth.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: ALMOND DRINK MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Almond Drink market accounts for the second-largest market share the Consumers in Europe are increasingly interested in purchasing organic products, and almond drinks are no exception. Further, the German Almond Drink market held the largest market share, and the UK Almond Drink market was the fastest growing market in the European region.
The Asia-Pacific Almond Drink Market is expected to grow at the fastest CAGR from 2023 to 2032. The increasing availability of almond drinks in a variety of packaging formats. Moreover, China’s Almond Drink market held the largest market share, and the Indian Almond Drink market was the fastest growing market in the Asia-Pacific region.
Leading market players are staying ahead of the competition, almond drink market players are collaborating by partnering with other companies. Many businesses additionally make investments in the development of novel products in order to diversify the items in their portfolio. Mergers and acquisitions are also important strategies that players use to expand their product portfolio, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. Almond milk, a plant-based milk alternative made from almonds, has become increasingly popular as a dairy milk substitute due to its lactose-free and vegan-friendly characteristics, Almond Drink industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Almond Drink industry to benefit clients and increase the market sector. In recent years, the Almond Drink industry has offered some of the most significant advantages to beverages. Major players in the Almond Drink market, including Fuerst Day Lawson, The Pressery, DREAM, Nutriops S.L., NATURA FOODS, Rude Health, Blue Diamond Growers, THE LUZ ALMOND COMPANY PTY Ltd., Alpro, Provamel, MALK Organics, and others, are attempting to increase market demand by investing in research and development operations.
Fuerst Day Lawson is a leading provider of food, beverage, and specialty chemical ingredients. The company is headquartered in London, England, and has offices and manufacturing facilities around the world. Fuerst Day Lawson's products are used by a variety of industries, including the food and beverage industry, the pharmaceutical industry, and the cosmetics industry. The company's customers include some of the world's leading brands, such as Nestlé, Unilever, and Procter & Gamble. Fuerst Day Lawson is a well-respected company in the industry and has a strong reputation for quality and innovation. The company is well-positioned for growth in the coming years, as the demand for food, beverage, and specialty chemical ingredients continues to increase.
The Pressery was founded in 2013 and it headquarter is United Kingdom that produces and sells cold-pressed juices, drinking vinegars, and bone broths. The Pressery is a brand that specializes in creating high-quality, organic, and often cold-pressed beverages. The company focuses on delivering health-conscious options, with an emphasis on natural ingredients and innovative recipes.
Almond Drink Industry Developments
June 2021: Danone declared additional investments for actively expanding its almond milk brand called Silk. The company further launched novel campaigns on Silk Almonds which gained positive results.
January 2020: a WhiteWave Services-owned plant-based beverage brand - Silk, announced an addition of a new DHA omega-3 pea, oats, and almond milk beverage to its current range of beverages which are plant-based.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 4.5 Billion |
| Market Size 2023 | USD 4.77 Billion |
| Market Size 2032 | USD 7.6026 Billion |
| Compound Annual Growth Rate (CAGR) | 6.00% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Form, Application, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Fuerst Day Lawson, The Pressery, DREAM, Nutriops S.L., NATURA FOODS, Rude Health, Blue Diamond Growers, THE LUZ ALMOND COMPANY PTY Ltd., Alpro, Provamel, MALK Organics |
| Key Market Opportunities | Growing acceptance of almond drinks in the food service industry |
| Key Market Dynamics | Growing awareness of the health benefits of almonds |
Almond Drink Market Highlights:
Frequently Asked Questions (FAQ) :
The Almond Drink market size was valued at USD 4.5 Billion in 2022.
The market is projected to grow at a CAGR of 6.00% during the forecast period, 2023-2032.
North America had the largest share in the market.
The key players in the market are Fuerst Day Lawson, The Pressery, DREAM, Nutriops S.L., NATURA FOODS, Rude Health, Blue Diamond Growers, THE LUZ ALMOND COMPANY PTY Ltd., Alpro, Provamel, and MALK Organics
The Unsweetened category dominated the market in 2022.
The Food & Beverages had the largest share in the market.
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