Almond Milk Market
Global Market Study on Almond Milk: Numerous Potential Health Benefits Leading to Ascending Sales
Almond Milk Market Segmented Organic and Conventional Nature in Food and Beverages, Retail/Household, Foodservice Industry
Almond milk is also known as a small pack of happiness. Along with exclusive flavors, it can add enumerable amount of functional nutrients to a diet. Almond milk is high in essential minerals such as magnesium, calcium, and iron. Out of five minerals found in the human body, magnesium has great significance in channelizing energy to balance sugar levels for the proper functioning of the body. Apart from this, it is high in protein, fibers, essential fats, and carbohydrates.
In almond milk, there is about 50% of 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 vitamins such as 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 experience new products, consumers are showing a positive inclination toward almond milk, which will bode well for the expansion of the global almond milk market size in the future.
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- Blue Diamond Growers
- SunOpta Inc.
- Pacific Foods of Oregon, LLC.
- Danone Group
- Orgain Inc
- Sanitarium Health Food Company
- Hiland Dairy
- Nutriops, S.L.
- Natura Foods
- The Hain Celestial Group, Inc
- Bridge S.R.L.
- Mand’Or Organic Almond Milk
- Elmhurst Milked Direct LLC
Almond Milk Market Trends
Trending Veganism Calls for Almond Milk: Growing concerns about animal welfare are increasing followers of veganism across the world. Apart from this, potential almond milk health benefits along with environment protection are currently driving the almond milk market. This increasing acceptance of veganism by consumers has been seen mostly is developed countries and cities & suburbs of developing countries.
Almond milk extracted from high quality almonds using the cold-pressed technology have 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. Availability of vegan alternatives for dairy-based milk has also affected the rise in acceptance of plant-based and almond milk products. As such, the end use of almond milk in dairy and desserts is expected to witness a significant volume CAGR 7.8% during the forecast period of 2020 to 2030.
Lactose-intolerant Consumers Opting for Almond Milk: Rising world lactose-intolerant population is suffering from gas build-up, nausea, or bloating every time they have dairy products. These consumers are constantly looking for alternatives to replace dairy milk in their diets. Almond milk is gaining popularity amongst such consumers. It could be a great alternative as it is 100% lactose-free, vegan, and loaded with plant protein.
People suffering from 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, which will aid the expansion of the almond milk market over the coming years.
- Canada-based Nutra Foods, Italy-based Organic Inc., Australia-based Sanitarium Health Food Company, and many more such companies are offering almond milk with fortified vitamins, minerals, and calcium.
Increased Demand for Transparency & Clean-Label Products: Consumers today are concerned about clean eating, and hence demand information regarding the sources of raw materials and processing method of products. Consumers are demanding more information about the products they indulge in, which has forced manufacturers to provide as much as possible information about their 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 for customers, since this enables them to feel that they have more control on their well-being. The organic segment is expected to witness a significant value CAGR of 5.8% in the global almond milk market during the forecast period.
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Regional Outlook of Almond Milk Market
Increasing number of health-conscious consumers across South Asia and East Asia is expected to boost demand for almond milk products. South Asia and East Asia together hold more than 40% of the world’s population, which creates huge opportunities for key players to increase their global food & beverage and almond milk market share.
Increasing per capita income and rising spending power of consumers are key factors for the growth of the global almond milk market. As such, East Asia holds a prominent share and South Asia is expected to witness a 11% value growth in the global almond milk market during the forecast period.
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COVID-19 Impact on Almond Milk Market
The world has been hit hard by the COVID-19 pandemic crisis. First- and second-quarter sales of food & beverages and almond milk have been weak, and there have been widespread store closures. Supply chain disruptions and trade restrictions are adding to the problem.
However, in this COVID-19 era, there has been an increase in foods purported to boost immunity. While there are no natural defenses against the novel coronavirus, ingredients that improve the overall immune system are in demand to safeguard overall health and well-being, such as almond milk. All in all, the COVID-19 crisis will have a moderate impact on the growth of the almond milk market.
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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 2020-2030. Rising health concerns and increasing vegan population are expected to support global almond milk market growth in the foreseeable future. Leading players are focused on collaborating with retail and online retail channels to increase the sales of almond milk, owing to rising demand from the retail/household segment. This is further expected to contribute toward high market growth, with an expected volume of 6.2 million tons in the year 2030.
Key Segments of Global Almond Milk Market
PMR’s report on the global almond milk market offers information divided into four segments - nature, end use, distribution channel, and region.