According to the latest report by IMARC Group, titled “Almond Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on almond milk market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global almond milk market reached a value of US$ 7.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 17.9 Billion by 2027, exhibiting a CAGR of 15.2% during 2022-2027.
Almond milk is a plant-based dairy alternative that is manufactured by blending almonds and mixing it with water and removing the almond pulp by straining the mixture. It is characterized by a creamy texture and nutty flavor. The nutrients in almond milk, such as vitamin E, proteins, omega-3 fatty acids, and zinc, prevent hair graying and keep skin free from blemishes. The product is also lactose-free and cholesterol-free, making it a suitable vegan product. It finds extensive use in beverages, frozen desserts, chocolates, cream liquors, bakery products, face creams, and hair care products.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Global Almond Milk Market Trends:
The market is primarily driven by the increasing adoption of almond milk as a substitute for cow milk. This can be attributed to the escalating prevalence of lactose intolerance and hypercholesterolemia across the globe. In addition to this, the growing number of health-conscious consumers focusing on plant-based diets is propelling the market. The market is further driven by the rapid product utilization in the formulation of personal care and cosmetic products. Some of the other factors creating a positive market outlook include the inflating disposable incomes of the consumers, rapid urbanization and extensive research and development (R&D) activities.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Blue Diamond Growers
- Califia Farms LLC
- Daiya Foods Inc.
- Earth’s Own Food Company Inc.
- Hain Celestial Group
- Hiland Dairy Foods
- Malk Organics LLC
- Pacific Foods of Oregon LLC
- SunOpta Inc.
- The WhiteWave Foods Company
Almond Milk Market Segmentation:
Our report has categorized the market based on region, type, category, packaging type, application and distribution channel.
Breakup by Type:
Breakup by Category:
Breakup by Packaging Type:
Breakup by Application:
- Frozen Desserts
- Personal Care
Breakup by Distribution Channel:
- Hypermarkets and Supermarkets
- Convenience Stores
- Online Stores
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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