The almond milk market is projected to be worth USD 5 billion, growing at a CAGR of 8.8% between 2022 and 2032. Sales of almond milk are estimated to make up a portion of the demand in the global market for plant-based milk, which is expected to reach USD 14 Billion in 2022.
Increasing demand for dairy alternatives globally due to the increasing prevalence of lactose intolerance among persons globally is likely to increase market sales over the forecast period.
Almond milk has a creamy, nutty texture, is high in calcium and vitamins, and may be used in a variety of recipes. Almond milk is becoming a popular choice among health-conscious customers due to increased awareness of its health advantages.
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The almond milk market is one of the fastest-growing non-dairy and vegan milk segments. Consumers are seeking high-quality, premium-brand, nutritious dairy products, which is compelling manufacturers to launch innovative and premium-label products. This is expected to augment demand in the market over the forecast period.
“Growing preference for organic and non-GMO food and beverages across the globe, along with increasing sales of dairy alternatives through online channels will drive the market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Sales of almond milk in China are expected to grow at a CAGR of 8.8% during the forecast period.
- Demand for almond milk in the U.S. market will increase at a 7.7% CAGR over the assessment period.
- Based on end use, demand in the food & beverage sector will continue gaining traction through 2032.
- In terms of distribution channel, the online stores segment will account for a lion’s share of the almond milk market.
- In 2022, the powder sub-segment is projected to account for a dominant share in the market.
Competitive Landscape
Some of the key players operating in the almond milk market include Daiya Foods Inc., Hain Celestial Group, Whitewave Foods, Sunopta Inc., Blue Diamond Growers, Galaxy Nutritional Foods, Inc., Tofutti Brands Inc, Califia Farms LLC, Earth’s Own Food Company Inc., Hiland Dairy Foods, Malk Organics LLC, Pacific Foods of Oregon LLC, etc.
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Almond Milk Market by Category
By Type:
- Plain
- Flavoured
By Category:
- Organic
- Conventional
By Packaging Type:
- Carton
- Glass
- Others
By Application:
- Beverages
- Frozen Desserts
- Personal Care
- Others
By Distribution Channel:
- Hypermarkets and Supermarkets
- Convenience Stores
- Online Stores
The report covers an exhaustive analysis on:
- At what rate will the Almond Milk Market grow?
- What is the expected value of the Almond Milk Market by 2032?
- What are the key factors driving the Almond Milk Market?
- Which region adds to the highest Almond Milk Market Valuation?
- What are the key strategies adopted by the major players of the Almond Milk Market?
- Who are the key players in the Almond Milk Market?
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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