The global almond
milk market is set to reach US$ 5 Bn. With sales
growing at a 8.8% CAGR, pushing the market size to US$
11.9 Bn by 2032.
Increasing demand for dairy alternatives across the globe
due to high prevalence of lactose-intolerance among individuals across the
globe is expected to drive sales in the market over the forecast period.
Almond milk has a creamy and nutty texture, contains high
amounts of calcium and vitamins and can be used in a wide variety of dishes.
Rising awareness of the health benefits of almond milk is making it a preferred
choice among health-conscious consumers.
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.
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
Access Full Report: https://www.futuremarketinsights.com/reports/almond-milk-market