Almond Milk Market Segmented By Nature (Organic, Conventional), By nature, the organic segment is projected to register the highest volume growth rate in the forecast period for the global almond milk market.
Report ID: PMRREP32166
Number of Pages: 327
Format: PPT*, PDF, EXCEL
Industry: Food and Beverages
Published Date: February-2023
The market for almond milk can be expected to expand at a value based CAGR of 9.0% and show an increase in revenue from US$ 4,712.80 Million to around US$ 11,156.9 Million by 2033.
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Almond Milk Market Size (2023E) |
US$ 4,712.80 Million |
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Projected Sales of Almond Milk (2033F) |
US$ 11,156.9 Million |
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Value CAGR (2023-2033) |
9.0% |
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Value Share of Top 4 Countries (2022E) |
63% |
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The global almond milk market has witnessed significant growth in the historical period registering a CAGR of 7.47% in the historical period and was valued at US$ 4,712.80 Million in 2023. The market is expected to grow steadily with increasing awareness and benefits about applications of almond milk.
Along with exclusive flavors, almond milk can add enumerable amount of functional nutrients in consumer’s diet. These almond milks are high in the essential minerals like magnesium, calcium, and iron. Out of five mineral found in human body, magnesium has great significance in channelize energy to balance sugar levels for the proper functioning of human body. Apart from this, it is high in protein, fibers, essential fats, and carbohydrates.
In almond milk, there is about 50% of the calories that come from these essential fats, and still it is generally considered as a low fat product. It could be a good source of vitamin like E and B2. These compounds have anti-inflammatory and antioxidant properties that are good for heart health. Owing to high-nutrient density, increasing popularity, and to have experience of new products consumers may show positive inclination towards almond milk market and it may flourish in the upcoming future.
As the health and nutrition factor would continue to dominate consumer food preferences, rising almond milk consumption is expected to drive the market over the coming years. The global market for almond milk is estimated to reach an approximate valuation of US$ 11,156.9 Million in the forecast period.
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Growing concerns about animal welfare in increasing the percentage of veganism in the overall customers. Apart from these, potential health benefits along with environment protection is currently driving the almond milk market. This increasing acceptance for veganism by the consumers has been seen mostly developed countries and cities and suburbs of developing countries.
Almond milk extracted from high quality almonds using cold-pressed technology has proven to be a great alternative to dairy milk. It is also considered to be a healthy drink as it is fortified with calcium and other nutrients. The availability of vegan alternatives for dairy based milk has also affected the rise in acceptance of plant-based and almond milk products.
“Lactose Intolerant Consumers to opting for Almond Milk Market”
The rising world’s lactose intolerant population is suffering from gas build up, nausea or bloating every time they have dairy. These consumers are constantly looking for alternatives to replace the dairy milk. Almond milk is gaining popularity amongst such consumers. It could be a great alternative as its 100% lactose free, vegan and loaded with plant protein.
People with lactose intolerance prefer almond milk as a healthy and tasty alternative to traditional dairy drinks. Almond milk can be used in any recipe that calls for animal milk. It also contains vegetable nutrients which proves to be an excellent source of high quality protein, minerals, antioxidants and vitamins.
“Increased Demand for Transparency and Clean-Label Products”
Consumers today are concerned about clean eating and hence demand for information regarding sources of raw materials and processing method for the products. Consumers are demanding for more information of the products they indulge in, and hence has forced manufacturers to provide as much as possible information about the products.
Consumers seeking food products without any artificial ingredients and preservatives are further creating demand for clean-label products. Clean-labels cut through the clutter of too much data and represent valuable information to customers, since it enables them to feel that they have more control on their well-being.
“Innovative and Unique Blends of Almond Milk Offered by Manufacturers”
The almond milk market is witnessing rapid growth due to the rising demand for health and nutrition based products. Manufacturers are placing increasing focus on creating innovative blends to increase their product offerings by launching different types of almond milk products in different flavors. Manufacturers in the industry are creating attracting flavors to increase the sale of almond milk.
The key players are focusing on the utilization of special flavor such as chocolate, coconut, cashew, and natural sweeteners to offer versatility in its products. They are also offering health beneficial unsweetened almond milk to gain traction in growing health-conscious audience who try to avoid sugar in their diet.
“Consumers Hesitating to Accept Almond Milk”
Almond milk offers a chance to all those lactose intolerant crowd to have the benefits of milk again, even though it's not a true substitute for cow's milk for many consumers. According to the USDA research, a cup of almond milk only offers one gram of protein whilst cow’s milk gives eight gram of protein. Also, apart from the protein content, homemade almond milk also lacks vitamin A and D. When it comes to essential minerals, cow’s milk offers the double of phosphorous and potassium as compared to almond milk.
Furthermore, the taste of almond milk is also different from that of cow milk owing to its nutty characteristics, which is also a considerable factor for consumers, who are fond of taste of cow’s milk. Consumers are looking for more nutrients in their diet, but there is a lack of familiarity and understanding for plant-based milk among many consumers. The popularity of traditional cow’s milk is becoming the major obstacle for the growth of the almond milk market.
Why is the Asian Region Expected to Project High Growth in the Almond Milk Market?
The increasing number of health conscious consumers across South Asia and East Asia is expected to boost the demand for almond milk products. Besides, South Asia and East Asia together hold more than 40% of the world’s population which creates huge opportunities for the key players in the global food and beverage and almond milk market.
The increasing per capita income and rising spending power of consumers are key factors in the growth of the global almond milk market. As such, East Asia holds prominent share and South Asia is expected to witness 11.1% value growth during the forecasted period of the global almond milk market.
Which Nature of the Almond Milk Market is Expected to Project Highest Growth?
By nature, the organic segment is projected to register the highest volume growth rate in the forecast period for the global almond milk market, owing to awareness about health and healthy ingredients and the demand for natural and organic ingredients and products is increasing across the globe.
How is the Growth Projection Regarding the End Use and Distribution Channel Segment of the Almond Milk Market?
By end use, the retail/household segment is expected to hold the highest market value share of 49.5% in the year 2023 in the global almond milk market. The increasing consumption of almond milk by consumer is the key factor behind the growth of retail/household segment.
By distribution channel, business to business segment holds the highest value share in the global almond milk market, owing to the rising popularity of the almond milk in food and beverage, foodservice products.
The global almond milk market is anticipated to exhibit significant growth, with South Asia and East Asia projected to offer potential growth opportunities during the forecast period of 2023-2033. The rising health concerns and increasing vegan population is expected to support the growth of the global almond milk market in the foreseeable future.
The leading players in the almond milk market are focused on collaborating with retail and online retail channels to increase the sales of almond milk owing increasing demand from retail/household segment.
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Forecast period |
2023-2033 |
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Historical data available for |
2018-2022 |
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Market analysis |
USD million for value |
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Key regions covered |
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Key countries covered |
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Key market segments covered |
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Key companies profiled |
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Report coverage |
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Customization & pricing |
Available upon request |
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The global market for almond milk has a value of US$ 4,712.80 Mn in 2023.
The global market for almond milk has a value CAGR of 7.47% from 2018-2022.
The global market for almond milk has a value of US$ 11,156.9 Mn in 2033.
The global market for almond milk has a value CAGR of 9.0% from 2023-2033.
The top players hold more than 35-40% of the market share. They include Blue Diamond Growers, Pacific Foods of Oregon, LLC, Danone Group, Nestlé, SunOpta Inc.
