Almond Milk Sales to Sky Rocket Fuelling Market Growth by 2022, States MRFR Report

Global Almond Milk Market – Overview

Growing issue of lactose intolerance among the population is supporting the growth of almond milk market at a global stage. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on ‘Global Almond Milk Market Research Report- Forecast to 2023’ that the market will demonstrate an exceptional CAGR during the forecast period.

Almond milk is a substitute of the animal based traditional milk products. Almond milk is derived from the plant based sources and is lactose and casein free. Almond milk comes in various types sweetened, unsweetened, plain, vanilla and chocolate flavors, and is usually improved with vitamins. It can also be prepared at home by using a blender, almonds and water. Almond milk has been created owing to the consumer demand. Today, food intolerances and food allergies have become a major concern for health conscious consumers. Almond milk is lactose-free food, which is driving the growth of the market.

Plant-based ingredients, such as soy, almond, coconut and rice are majorly used as main source to prepare dairy substitute. In the era of globalization, changing consumption pattern, increasing awareness about lactose intolerance, rising number of vegan consumers and other factors such as rising working class population and growing demand for on-the-go products support the growth of almond milk market. Increasing consumer interest in healthy lifestyle, various weight loss diet trends and rising concern on animal welfare & environment will fuel the sales of almond milk across the world. Also, the strong performance of retail sector and HoReCa & foodservice industry has led to the easy availability of branded almond milk in semi-urban areas, and the increasing availability of brands in stores which are safe to consume. 

Latest Industry Updates

Oct 2017 Starbucks announced that beginning May 2018, its Bottled Frappuccino collection will expand to include two almond milk versions: vanilla and mocha.

Oct 2017 Drupe Foods India launched Lactose-Free Vegan Milk in India. It has set up its 6,000 litre per day almond milk manufacturing plant in Uttar Pradesh.

Sept 2017 Bailey’s launched vegan liquor made with almond milk. The product Baileys Almande consists of almond milk, almond essence, cane sugar, purified water and real vanilla.

June 2017 Pip and Nut launched a new almond milk range. The new range consists of Almond Drink with Honey & Vanilla, Almond Drink with Coconut, and Unsweetened Almond Drink.

Global Almond Milk Market - Competitive Analysis

With the entry of industry players in the almond milk segment, a trend of solid, volume-driven growth has been observed in the market with the development of different varieties of product types. With companies aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points. The key players are highly focusing on product innovations and new product launches which are healthy for the consumers. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.

The key players profiled in almond milk market are Blue Diamond Growers (U.S.), Hain Celestial Group (U.S.), Whitewave Foods (France), Sunopta Inc.(Canada), Daiya Foods Inc. (Canada), Galaxy Nutritional Foods, Inc. (U.S.), and Tofutti Brands Inc. (U.S.) among many others.

Global Almond Milk Market – Segments

The global Almond Milk market has been divided into type, packaging material, distribution channel and region.

On The Basis Of Type: Plain, and Flavored

On The Basis Of Packaging material: Glass, Carton, and Others

On The Basis Of Distribution Channel: Store based, and Non-store based

On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.

Global Almond Milk Market -

Regional Analysis

The global almond milk market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Among all the region, Asia Pacific is projected to account maximum market proportion and it is estimated to retain its dominance throughout the forecast period. This is attributed by the massive growth of food & beverages industry in developed economy of Asia Pacific region over the last decade. Apart from that, increasing consumer inclination to adopt plant based food instead of animal based food is escalating the sales of almond milk in the Asia Pacific region.

North America is the fastest growing region for almond milk followed by Europe. Growing instances of lactose intolerance has resulted for rise in demand for dairy alternatives which is adding fuel to the growth of almond milk market. Germany, France and U.K are the major contributors to the growth of almond milk market in Europe. In rest of the world, Latin America is the major contributor to the growth of almond milk market.

ACCESS REPORT DETAILS @ https://www.marketresearchfuture.com/reports/almond-milk-market-2872

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact

Akash Anand,

Market Research Future

Office No. 528, Amanora Chambers

Magarpatta Road, Hadapsar,

Pune - 411028

Maharashtra, India

+1 646 845 9312

Email: akash.anand@marketresearchfuture.com