Almond Milk Market - Global Industry Dynamics 2019-2020, Trends and Forecast 2021-2028

Almond milk is nothing but almond-made plant milk that usually has a nutty flavor with a creamy texture. Almond milk is becoming a commonly recognized and common alternative to regular dairy milk, as it provides many health benefits such as helping with weight loss, strengthening bones, helping with digestion, and serving as a lactose-free replacement for milk. Better diet followers and vegan that are projected to boost the global market for almond milk. Several consumers in developing countries consider a vegan diet and hence tend to consume almond milk as a supplement for dairy milk. Apart from soymilk, this product has emerged as a blooming segment on the market. It is being used as a key ingredient in the preparation of foods such as frozen desserts and drinks including milkshakes. An increase in the use of natural ingredients in personal care items such as almond milk is fueling the market growth. Plant-based food is rich in fatty acids such as omega-3 and possesses a great source of vitamin E essential for keeping the skin hydrated and fed.

Driving & Restraining Factors

  • Increasing market awareness and the growing vegan population has led to strong product demand in the coming years

  • Rapid urbanization and increasing population would be the major factor driving the almond milk market

  • Demand for almond milk in the global market is increasing at a comprehensive rate in the non-dairy and vegan milk industry, as it increases glucose levels and weight loss

  • Other major factors are health benefits and fighting against obesity would create awareness among consumers in developing countries, which will help to boost the growth of the almond milk market. However, other non-milk products and can be a complete replacement for milk.

  • Moreover, it provides a healthy living through weight reduction, skin sustenance, and fewer allergic reactions, which can help individuals

  • The major restraining factor is the peculiar taste of almond milk that differs significantly from cow milk. Moreover, the average cost is high as compared to dairy milk that can restrain the market in developing countries.

Key Trends

  • Demand for almond milk would increase all over the globe, due to the growing food & beverage industry. The growth of the population, health-conscious lifestyle and rise in disposable income are also some of the major factors, which would boost the almond milk market in the coming years.

  • New emerging customers are demanding high quality, premium brands, and balanced dairy products, which can boost the growth of the global almond milk market in the coming years

  • Most manufacturers have started to offer products with premium almond milk brands using workmanship practices that give a unique creamy taste

  • Major companies are investing in new technologies and development & research to counter the nutty flavor by adding other different flavors and marketing the product across multiple distribution channels in attractive packages

Market Segmentation

  • The almond milk market can be segmented based on category, forms, packaging, application, distribution channel, and region

  • Based on the category, the almond milk market can be divided into organic and conventional

  • Based on form, the global almond milk market is categorized into plain sweetened, plain unsweetened, flavored sweetened, and flavored unsweetened

  • In terms of packaging, the global almond milk market is split into bottles, cans, and cartons

  • Based on application, the global almond milk market is further segregated into frozen desserts, beverages, personal care, and others

  • In terms of the distribution channels, the global almond milk market can be classified into offline channels and online channels. The offline channel can be sub-divided into specialty or retail stores, departmental stores, and convenience stores. The online distribution channel is sub-segmented into company-owned websites and e-Commerce sites.

  • Based on the region, the global almond milk market can be divided into North America, South America, Asia Pacific, Middle East & Africa, and Europe. Furthermore, North America is segmented into countries such as the U.S., Canada, and the Rest of North America. Europe region is sub-segmented into Germany, France, Italy, the U.K., and the Rest of Europe. The Middle East & Africa region is divided into GCC Countries, South Africa, and the Rest of the Middle East & Africa. The Asia Pacific is studied for China, India, Japan, and the Rest of Asia Pacific. South America is segmented into Brazil and the Rest of South America.

Competition Landscape

  • Key players operating in the global almond milk market are Blue Diamond Growers, Danone, MALK ORGANICS., Elmhurst Milked Direct LLC, Califia Farms, PACIFIC FOODS OF OREGON, LLC., Daiya Foods Inc, Hain Celestial, SunOpta, Rude Health, Three Trees Organics, Orgain, Inc., Hiland Dairy., and New Barn Organics

Segments:

  • By Category

    • Organic

    • Conventional

  • By Form

    • Plain sweetened

    • Plain unsweetened

    • Flavor sweetened

    • Flavor unsweetened

  • By Packaging

    • Bottles

    • Cans

    • Cartons

  • By Application

    • Beverages

    • Frozen Desserts

    • Personal Care

    • Others

  • By Distribution Channel

    • Online

    • Offline

  • Supermarkets & Hypermarkets

  • Convenience Stores (Specialty Stores)

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