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Almond Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Report Format: PDF+Excel | Report ID: SR112023A2115
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Market Overview:
The global almond milk market size reached US$ 8.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.3 Billion by 2028, exhibiting a growth rate (CAGR) of 13.6% during 2023-2028.
Almond milk is made from an emulsion of blanched almonds, acacia, sugar and water. It is lactose-free and has fewer calories, sugar and phosphorus as compared to conventional milk. Moreover, it is rich in vitamin E and D, and offers numerous health benefits, such as keeping the heart healthy, strengthening bones and muscles, maintaining the level of sugar in the blood, and aids in weight management. Consequently, it finds extensive applications in the food and beverage (F&B) and personal care industries across various regions of the world. At present, almond milk is available in different packaging and flavors, including plain, vanilla, mango and chocolate.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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The rising cases of lactose intolerance and hypercholesterolemia, along with the increasing health consciousness among individuals, represent as the key factors driving the global almond milk market growth. Additionally, as almond milk is plant-based, it is gaining traction among the vegan population across the globe. It is also being utilized in the preparation of various chocolates, cream liquor and bakery goods that are marketed for the lactose-intolerant population. Moreover, the growing personal care industry on account of changing lifestyles and inflating income levels is further escalating the demand for almond milk-based products around the world. Other than this, with the burgeoning e-commerce sector, leading manufactures operating in the industry are offering their products through online distribution channels as they provide conveniences, such as free shipping and home delivery facilities to consumers. These manufacturers are also offering unique flavors, such as toasted coconut, as well as on-the-go variants.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global almond milk market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, category, packaging type, application and distribution channel.
Breakup by Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- Plain
- Flavored
Breakup by Category:
- Organic
- Conventional
Breakup by Packaging Type:
- Carton
- Glass
- Others
Breakup by Application:
- Beverages
- Frozen Desserts
- Personal Care
- Others
Breakup by Distribution Channel:
- Hypermarkets and Supermarkets
- Convenience Stores
- Online Stores
- Others
Breakup by Region:
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- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Blue Diamond Growers, Califia Farms LLC, Daiya Foods Inc., Earth's Own Food Company Inc., Hain Celestial Group, Hiland Dairy Foods, Malk Organics LLC, Pacific Foods of Oregon LLC, Sanitarium, SunOpta Inc. and The WhiteWave Foods Company, etc.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Billion |
| Segment Coverage | Type, Category, Packaging Type, Application, Distribution Channel, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Blue Diamond Growers, Califia Farms LLC, Daiya Foods Inc., Earth's Own Food Company Inc., Hain Celestial Group, Hiland Dairy Foods, Malk Organics LLC, Pacific Foods of Oregon LLC, Sanitarium, SunOpta Inc. and The WhiteWave Foods Company |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global almond milk market was valued at US$ 8.9 Billion in 2022.
We expect the global almond milk market to exhibit a CAGR of 13.6% during 2023-2028.
The expanding lactose intolerant population, the emerging adoption of veganism, and various health benefits of almond milk over conventional counterparts are primarily driving the global almond milk market.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of almond milk and almond milk-based products.
Based on the type, the global almond milk market can be segmented into plain and flavored. Currently, flavored holds the majority of the total market share.
Based on the category, the global almond milk market has been divided into organic and conventional, where organic currently exhibits a clear dominance in the market.
Based on the packaging type, the global almond milk market can be categorized into carton, glass, and others. Currently, glass accounts for the majority of the global market share.
Based on the application, the global almond milk market has been segregated into beverages, frozen desserts, personal care, and others. Among these, beverages currently hold the largest market share.
Based on the distribution channel, the global almond milk market can be bifurcated into hypermarkets and supermarkets, convenience stores, online stores, and others. Currently, hypermarkets and supermarkets exhibit a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global almond milk market include Blue Diamond Growers, Califia Farms LLC, Daiya Foods Inc., Earth's Own Food Company Inc., Hain Celestial Group, Hiland Dairy Foods, Malk Organics LLC, Pacific Foods of Oregon LLC, Sanitarium, SunOpta Inc., The WhiteWave Foods Company, etc.
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