The Almond Drink market has witnessed remarkable growth in recent years, driven by the rising demand for plant-based alternatives to dairy products. Consumers’ increasing awareness of health benefits, sustainability, and lactose intolerance concerns has fueled this trend. Innovative flavors, packaging, and expanding distribution channels are further propelling the market’s expansion.
During the forecast period, the almond drink market is expected to register a CAGR of 5.1%, with the global market value going from US$ 4,719.5 million in 2023 to US$ 7,751.1 million by 2033.
Several aspects, such as a rise in health consciousness and lactose intolerance among consumers, drive the growth of the market. This is followed by the immense innovation seen in almond drinks and blends, which appeal to a wide consumer base, meaning that their availability and distribution will be seen to rise.
The growing vegan and vegetarian population provides an increased consumer base to companies and allows for an expansion of emerging markets. Companies are also seen to be experimenting with added nutrients and flavors, which are seen as beneficial by many consumers.
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What are some of the Key Takeaways in the Almond Drink Market?
- The United States market contributed 4.4% of the global market share in 2022.
- The almond drink market in Germany added 4.9% to the global market share in 2022.
- Japanese almond drink market accelerated the global market share by 4.9% in 2022.
- In 2022, the Australian market augmented by 3.1% to the global market share.
- China displayed a CAGR of 4.4% in the year 2022.
- According to the sources of FMI, the almond drink market in India expanded at a CAGR of 13.2% in 2022.
- The United Kingdom almond drink market accelerated at a CAGR of 2.7% in 2022.
What Does the Competitive Landscape of the Almond Drink Market Look Like?
The companies in the almond drink market generally focus on offering a wide selection of products to their consumer base and expanding their horizon beyond just almond beverages. They tend to offer vegan beverages to accompany coffee, tea or to add to other recipes. They also offer several flavors in the beverage, such as chocolate, hazelnut, cinnamon, and others.
India also has a considerable contribution to this market. Indian startup companies such as SAIN and Jus Amazin are also leading in the market and offering alternatives more suitable to the Indian palette.
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- Califia Farms
Califa Farms considers it its mission to create a future where plants replace dairy completely. They have a line of plant-based milk. They are known for their almond milk, but it also comes in variations and flavors. They also have creamers, coffee, barista blends, and milk in seasonal flavors. They are a sustainable company and believe it is necessary to follow sustainable practices in their production.
- Malk Organics
Malk Organics makes dairy-free products with the best materials possible. They do not use anything artificial and are certified organic. They have flavored, unflavoured, sweetened, and unsweetened milk that can be used in lattes, cocoa, milkshakes, smoothies, and baking. Their bestsellers are their almond and oat milk.
- Natura Foods
Natura Foods offers almond beverages enriched with Vitamin D. It has no cholesterol, no lactose, or trans fat and helps in satisfying non-dairy ways to help consumers stay healthy, happy, and strong. They also offer milk in different flavors and from different sources, such as oat, almond, soy, and many others.
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Key Segments of the Almond Drink Market
By Form:
- Sweetened
- Unsweetened
- Flavored
- Chocolate
- Vanilla
By Application:
- Food & Beverages
- Cosmetics
By Distribution Channel:
- Hypermarkets/Supermarkets
- Department & Grocery Stores
- Online Retailers
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
- Europe
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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