What is Almond Milk?
Almond Milk is derived from plant milk which is made from almonds, these generally have a crackling nutty taste and smooth & creamy texture. These milk drinks are becoming a popular alternative or replacement for other dairy milk because of its health benefits such as weight management, helps in making bones stronger, and also acts as a lactose-free substitute of milk. The market of almond milk is driving because of two major groups of people namely healthy diet adopters and vegan diet followers.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Largest Market | North America |
Unit | Value (USD Billion) |
Key Companies Profiled | Blue Diamond Growers (United States), Hain Celestial Group (United States), Daiya Foods Inc. (Canada), Whitewave Foods (France), Sunopta Inc. (Canada), Daiya Foods Inc. (Canada), Galaxy Nutritional Foods, Inc. (United States), Tofutti Brands Inc. (United States), So Delicious Dairy Free (United States) and Silk (United States) |
CAGR | 15.3% |
The Global Almond Milk market is expected to see growth rate of 15.3% and may see market size of USD17.2 Billion by 2028.The Market is currently pegged at USD7.1 Billion. The study covers a detailed analysis segmented by key business segments i.e. by type (Plain and Flavored) , by application (Daily Food, Food, Beverages and Others) and major geographies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Almond Milk market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Almond Milk market report suggests strategies that Vendors can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Vendors, some of them are Blue Diamond Growers (United States), Hain Celestial Group (United States), Daiya Foods Inc. (Canada), Whitewave Foods (France), Sunopta Inc. (Canada), Daiya Foods Inc. (Canada), Galaxy Nutritional Foods, Inc. (United States), Tofutti Brands Inc. (United States), So Delicious Dairy Free (United States) and Silk (United States).
Market Overview:
In January 2023, Blue Diamond Growers, launched three new 360-degree creative marketing campaigns across the company’s portfolio of brands and its presence in almond products. it include Snack Almonds, Almond Breeze, and Almond Flour. This launch helped company to expand milk market
The market is fragmented with key players such as blue diamond, Milkadamia, and Califia Farms and many other manufacturers are coming up with variety in flavor offerings of the product, which is bringing a surge in demand for almond milk. Moreover, innovative and attractive packaging also adds value to the product growth. Additionally, advertising campaigns carried out by the key players also impact the growth of the market.
Influencing Trend:
Adoption of Almond Milk Consumption in Vegan Diet and Innovating New Products Such as Premium Almond Milk
Market Growth Drivers:
Increasing Awareness about Its Health Benefits, Rising Battle against Obesity in Developed Countries Such as the United States and Increasing High Demand for Quality Product Coupled with Healthy Dairy Products
Challenges:
Concern Related to Counterfeit Products
Restraints:
High Cost of Almond Milk and Availability of Substitutes Present in Market
Opportunities:
Increasing Number of Population Affected by Lactose Intolerance and Rising Demand for Flavored Almond Milk
Key highlights of the Global Almond Milk market Study:
CAGR of the market during the forecast period 2022-2028
In-depth information on growth factors that will accelerate the Almond Milk market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Almond Milk market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Vendors
Comprehensive information about factors that will challenge the growth of Almond Milk Vendors
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Almond Milk market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Almond Milk market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Food and beverages, Cosmetic industry, Personal care manufacturers, Retailers, wholesaler, and distributors, E-commerce and Traders, importers, and exporters.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.