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Almond Milk Market Research Report - Global Forecast till 2030

Global Almond Milk Market Research Report: Information by Category (Organic and Conventional), Packaging Type (Bottles, Cans, and Cartons), Distribution Channel (Store-Based (Hypermarkets & Supermarkets, Convenience Stores, and Others) and Non-Store-Based) and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2030

ID: MRFR/F-B & N/2126-CR | February 2021 | Region: Global | 110 Pages         

Almond Milk Market

Almond Milk Market Size is anticipated to reach USD 17.6 Billion by 2030, registering a CAGR of 15.4% during 2022-2030

Segmentation

By Category Organic Conventional
By Packaging Type Bottles Cans Cartons
By Distribution Channel Store-Based Nonstore-Based
By Region North America Europe Asia-Pacific Rest of the World

Key Players

  • SunOpta The Bridge
  • Blue Diamond Producers
  • Sanitary Health and Wellness
  • Califia Farms
  • Pure harvest
  • Ground Food Company
  • Pacific Foods
  • WhiteWave Foods
  • Nutriops
  • Freedom Foods
  • Hiland Dairy Foods
  • Sky Hain Group

Drivers

  • Increase demand in convenience food
  • Increasing lactose intolerance
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Fresh market almond milk: an overview


Almond milk is nothing more than vegetable milk made from almonds, which usually has a creamy texture and nutty taste. Almond milk is becoming a widely accepted and popular substitute for normal milk because it offers many health benefits, such as  acts as a lactose-free substitute for milk, helps against weight control, aids digestion and strengthens bones. Those who adopt a healthy diet and adhere to the vegan diet are the two main groups of customers who expect to increase the global almond milk market over the forecast period. people in developed countries realize that the vegan diet is healthy and therefore, as a result, people prefer to consume almond milk as a milk substitute.


The fresh market almond milk: drivers and restrictions


Almond milk is one of the popular dairy alternatives, similar to normal milk, in terms of texture and taste, and has similar nutritional benefits. The global almond milk market is one of the fastest growing segments in the vegan dairy and non-dairy industry. The growth of the almond milk market is attributed to an awareness of its health benefits, a fight against obesity in developed countries like the United States. New-age consumers demand healthy, high-quality dairy products and high-quality brands which has given impetus to global almond dairy manufacturers to develop new high-quality products to meet consumer demand. Many manufacturers in developed countries have started offering new products, such as high-quality almond milk, produced by artisan practices that give a unique creamy taste. For consumers looking for high quality healthy drinks, many retail stores are launching quality almond milk. The growing awareness of the health benefits of alternative milk to dairy products serves as a key selling proposition for almond milk worldwide. The growth of the almond milk market in the APEJ regions is attributed to factors such as the increase in the number of people affected by lactose intolerance.


Consumers are shifting their concern to organic almond milk choices due to the growing health dispute, as this organic almond milk is produced without thickeners and additives. Organic alternatives to almond milk are comparatively expensive than other non-dairy alternatives. The demand for flavored almond milk is expected to increase during the forecast, due to the growing demand for mixed, nutritious, tasty and lactose-free milk among consumers.


Best almond milk on the market:


Based on the Formula,


Unsweetened taste


Simply sweetened


Sweetened with taste


Simple without sugar


Almond milk market share: a regional perspective


The global almond milk market is divided into seven main regions: The Middle East and Africa (MEA), North America, Asia-Pacific Excluding Japan (APEJ), Western Europe, Japan, Latin America and Eastern Europe . North America is expected to be the world’s largest almond milk market in terms of price. This region is designed to display the domain during the forecast. The growing number of people suffering from lactose intolerance is shifting consumers ’preference to healthy dairy alternatives, such as almond milk, which is encouraging the growth of the almond milk market in this region. The APEJ region is also expected to record a high growth rate during the forecast, due to consumers ’consumption of gluten-free almond milk choices.


Almond milk market: main players



  • SunOpta The Bridge

  • Blue Diamond Producers

  • Sanitary Health and Wellness

  • Califia Farms

  • Pure harvest

  • Ground Food Company

  • Pacific Foods

  • WhiteWave Foods

  • Nutriops

  • Freedom Foods

  • Hiland Dairy Foods

  • Sky Hain Group


This research is a comprehensive picture of market dynamics. It primarily consists of the critical assessment of travel by consumers, emerging and current pathways, and a strategic framework to enable market players to make effective decisions.


Leading companies and perceptions market share of almond milk:


The market is moderately fragmented with major players like Tofutti Brands Inc, Daiya Foods Inc .; Galactic Nutrient Foods, Inc .; Hain Heavenly Group; Blue diamond producers; Whitewashed foods; and Sunopta Inc.


Companies like Danone use almond milk to produce beverages like snacks and flavored milk, along with frozen desserts like almond frozen yogurt and nut ice cream. Candy manufacturers use almond milk to produce baked goods with an almond flavor, such as almond bread, cookies and cakes, which are something in the crowd today. For example, Baileys used the product to launch Almande Irish Cream Liqueur during the festive season for vegan consumers.


Regional understandings


In terms of value, the Asia-Pacific market expects a growth rate of 15.0% from 2019 to 2024. Market demand is expected to grow globally over the forecast, particularly in the beverage segment, due to the increase in brands such as Crude, Silk, Danome and alternative dairy technology evolving around the world.


Leading manufacturers in the United States, such as Blue Diamond Growers and Hain Celestial Group, have begun producing a wide variety of packaged almond milk in the beverage segment for consumers around the world. The modern launches of raw and processed products have certainly added a trend for vegan milk among consumers in the APAC region, increasing the consumption of almond milk in the region. Other popular applications in this region are personal care products, especially hand  conditioners and creams.


The frozen desert market in the United States is one of the major sectors that is driving market growth in the region. In 2022, the sector accounted for 26.8% of participation in the United States. The market is expected to grow over the forecast due to rising per capita income and changing eating patterns in several MEA countries. The growing environmental concerns among consumers have resulted in the adoption of almond milk in the daily routine.


Our main basis is the four-quadrant EIRS structure, which offers a detailed visualization of four elements:


Strategic structures to drive the growth journey


Customer experience maps


Action results to meet all business priorities


Understandings and tools based on data research


The study strives to assess future and current growth prospects, unused pathways, factors that shape its revenue demand potentials and consumption patterns in the global market, dividing it into a regional assessment.


The following regional segments are covered in detail:



  • Europe

  • Middle East and Africa

  • North America

  • Latin America

  • Asia Pacific


The structure of the quadrants in the report summarizes our broad spectrum of data research and consulting sites for market players to help them make better business decisions and remain leaders.


Below is a picture of these quadrants.


1. Strategic Structures


The study prepares companies and some interested in the market to match broad strategic structures. This has become more important than ever, due to uncertainty at the moment due to COVID-19. The study discusses consultations to overcome various disruptions in the past and anticipates new ones to increase readiness. The structures help companies plan their strategic ranks to recover from these disruptive trends. In addition, Analysts help break down the complex landscape and bring resilience in uncertain times.


2. Customer experience map


The study offers a detailed assessment of the travels of several customers related to the market and its segments. It offers various impressions of the customer about the use of services and products. The analysis looks more closely at pain points and fears at various points of contact with the client. Business consulting and intelligence solutions will help stakeholders, including players, define customer experience maps tailored to their needs. This will help them increase customer engagement with their brands.


3. Performance results


The results presented in this study are an indispensable guide to fulfilling all business priorities, including those of mission critiques. The results, when implemented, showed perceptible benefits for sectoral entities and business stakeholders to improve their performance. The results are adjusted according to the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems of companies they faced in their consolidation journey.


4. Understandings and tools


The various insights into the study are based on complex cycles of secondary and primary research that analysts engage with during the research. Specialized analysts and consultants adopt quantitative customer tools across market and industry projection methodologies to achieve results that make them reliable. The study offers not only estimates and projections, but also an organized assessment of these figures on the dynamics of the market. These insights mix the data research framework with qualitative questions for investors, business owners and policy makers. The insights will also help your customers overcome their fears.


Almond milk market revenue:


The increase in online applications has significantly affected the market supply chain. For example, Big-basket offers various almond milk drinks and other products by online delivery selection, in addition to offline stores in India, thus increasing the online channel segment. Due to the increase in the number of market participants, convenience stores also maintain a wide variety of almond dairy products for the convenience of the consumer during regular purchases.


In terms of revenue, supermarkets and supermarkets had the largest market share of 39.3% in 2021. The online segment will expand at a growth of 15.1% in the forecast. The main reason for preferring the online distribution method is the easy payment in relation to the order of the product. A number of offers and discounts are available at various programs for concerned consumers.


The report highlights a number of aspects and answers relevant market questions. Some of the most important are:



  • What are some of the best cost-optimization strategies with providers with which some well-established participants have been successful?

  • What are some of the opportunities to capture value in various segments?

  • What are perhaps the best investment options for getting into new product and service lines?

  • How will the emerging political and economic scenario influence opportunities in the main growth areas?

  • What valuable proposals do companies target when they provide new funding for research and development?

  • What government regulations can challenge the status of almond milk market in India?

  • What regulations will be most useful for stakeholders to strengthen their supply chain?

  • What are the main perspectives that C-suites take advantage of to move companies to a new growth trajectory?

  • Which regions may see demand mature in some segments in the near future?



Report Scope:

Report Attribute/Metric Details
  Market Size    USD 17.6 Billion
  CAGR    15.4% (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units    Value (USD Billion)
  Report Coverage    Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Category, By Packaging Type, By Distribution Channel, and By Region
  Geographies Covered    North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   SunOpta The Bridge, Blue Diamond Producers, Sanitary Health and Wellness, Califia Farms, Pure harvest, Ground Food Company, Pacific Foods, WhiteWave Foods, Nutriops, Freedom Foods
  Key Market Opportunities   Awareness of its health benefits, a fight against obesity in developed countries
  Key Market Drivers   Increase demand in convenience food


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Frequently Asked Questions (FAQ) :

Almond Milk Market is expected to expand at 15.4% CAGR from 2022 to 2030.

Almond Milk Market size can reach USD 17.6 Billion by 2030.

SunOpta The Bridge, Blue Diamond Producers, Sanitary Health and Wellness, Califia Farms, Pure harvest, Ground Food Company, Pacific Foods, WhiteWave Foods, Nutriops, Freedom Foods

The growth of the almond milk market is attributed to an awareness of its health benefits, a fight against obesity in developed countries like the United States.