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Global Almond Milk Market to Reach US$ 17.9 Billion by 2027, Impelled by Rising Adoption of Veganism

Published on Mar 24, 2021

According to the latest report by IMARC Group, titled “Almond Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," finds that the global almond milk market size reached US$ 7.7 Billion in 2021. Almond milk is a dairy milk substitute made from presoaked almonds, water, sugar and acacia. It has a white, creamy texture with a nutty taste. Commercially, almond milk is produced in sweetened and unsweetened forms and various flavors, such as vanilla, chocolate, and strawberry. It is a rich source of vitamins E and D, magnesium, antioxidants, and omega-3 fatty acids. The consumption of almond milk helps strengthen bones and muscles, maintain blood sugar levels, prevent osteoporosis, and lower the risk of Alzheimer's disease.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Almond Milk Market Trends:

One of the key factors driving the global almond milk market is the rising incidences of lactose intolerance and hypercholesterolemia. Besides this, increasing health-consciousness and awareness regarding animal welfare has encouraged consumers to adopt veganism and incorporate plant-based milk, such as almond milk, in their regular diets, which is supporting the market growth. With easy availability across the offline and online retail channels, market players have been able to reach a broader consumer base, which has further led to the market growth. Moreover, almond milk is extensively employed in the cosmetics industry to formulate face creams and hair care products, which is creating a positive outlook for the market. Looking forward, the market value is expected to reach US$ 17.9 Billion by 2027, expanding at a CAGR of 15.2% during 2022-2027.

Market Summary:

  • Based on the type, the market has been divided into plain and flavored almond milk.
  • On the basis of the category, the almond milk market is bifurcated into conventional and organic.
  • On the basis of the packaging type, the market covers carton, glass and others.
  • Base on the application, the market has been segregated into beverages, frozen desserts, personal care and others.
  • On the basis of the distribution channel, the market is segmented into hypermarkets and supermarkets, convenience stores, online stores and others.
  • On a regional basis, the market has been spread across in North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and Middle East and Africa.
  • The competitive landscape of the market has been examined, 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., The WhiteWave Foods Company.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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