What is Nut Milk Market?
A nut is a fruit composed of an inedible hard shell and a seed, which is generally edible. Nut milk is a plant milk manufactured from nuts such as almonds, pecans, pistachios, walnuts, and Brazil nuts with a creamy texture and nutty flavor. It can be enjoyed on all kinds of diets, from keto to vegan. It has a number of health and weight benefits. It comes in sweetened, unsweetened, vanilla and chocolate flavors and it is usually fortified with micronutrients.
The market study is being classified by Type (Almond Milk, Cashew Milk, Soy milk, Rice milk, Coconut milk, Hemp milk, Hazelnut Milk and Other), by Application (Beverages, Frozen Desserts, Personal Care and Others) and major geographies with country level break-up.
Califia Farms (United States), China Mengniu Dairy Company Limited (Hong Kong), WhiteWave Foods (United States), Earth's Own Food Company (Canada), Sanitarium Health and Wellbeing Company (Australia), The Hain Celestial Group, Inc. (United States), The Bridge Bio (Italy), Pacific Foods (United States), Hiland Dairy Foods (United States) and Freedom Foods (Australia) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Blue Diamond Growers (United States) and Yili Group (China).
Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Nut Milk market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Nut Milk market by Type, Application and Region.
On the basis of geography, the market of Nut Milk has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Health benefits of nut milk are the driving factor for the nut milk market. Nuts are highly nutritious that contain proteins, fats, carbohydrates, fibers, vitamin E, minerals etc. They are also called antioxidant powerhouses. Research shows that the antioxidants in walnuts and almonds can protect the delicate fats in human cells from being damaged by oxidation.
Market Trend
- The rapid rise in the demand for plant-based milk. Increasing awareness about the benefits of the plant-based milk leads into rising demand for nut milk. People are becoming more health-conscious and preferring for a vegan diet. Nut milk is a good alternative for dairy products.
Restraints
- Volatility in the prices of the nuts is restraining the nut milk market. The market prices of the nuts are fluctuating due to a rise in the production cost of the nuts. Increasing labor charges affecting nut production.
Opportunities
- The growing acceptance of dairy alternatives among vegan consumers will help for nut milk market expansion. There is a rise in the cases of lactose intolerance leads in to demand plant-based milk. The people suffering from lactose intolerance and hypercholesterolemia have a good option of plant-based milk.
Challenges
- Less awareness in developing countries is a challenge for the nut milk market. The people in developing countries still prefer dairy products.
On 10th January 2019, Califia Farms, best known for its innovative plant-based beverages in distinctive curvy bottles, has announced the launch of a new line of Oatmilks.
Key Target Audience
Nut Milk Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End user