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Redding, California - October 25, 2024

Almond Milk Market to Reach $33.08 Billion by 2031

Almond Milk Market Size, Share, Forecast, & Trends Analysis by Nature (Organic, Conventional), Flavor (Unflavored, Flavored), Packaging Material (Glass), Distribution Channel (B2C, B2B), Application (Beverages, Personal Care) - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled 'Almond Milk Market—Global Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication, the almond milk market is expected to reach $33.08 billion by 2031, at a CAGR of 12.2% from 2024 to 2031.

The almond milk market is experiencing growth driven by the increasing vegan and vegetarian population, the rising prevalence of food allergies and lactose intolerance, and heightened consumer awareness of nutritional food. However, strong preferences for animal-based milk continue to hinder this market's growth.

Additionally, the expanding application of almond milk across various industries and in emerging economies presents new growth opportunities for market players. However, the market faces significant challenges, including volatile raw material prices. Furthermore, the growing adoption of clean-label products and increasing awareness of health and wellness are prominent trends in the almond milk market.

Key Players:

The almond milk market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the almond milk market are Blue Diamond Growers (U.S.), Daiya Foods, Inc. (Canada), Danone North America Public Benefit Corporation (France), Califia Farms, LLC (U.S.), Nestlé S.A. (Switzerland), SunOpta, Inc. (Canada), Earth’s Own Food Company Inc. (Canada), Hiland Dairy Foods (U.S.), MALK Organics LLC (U.S.), Ripple Foods PBC (U.S.), Milkadamia (U.S.), and Three Trees Organics (U.S.).

The almond milk market is segmented based on nature, flavor, packaging material, distribution channel, and application. The report also evaluates industry competitors and analyzes the almond milk market at the regional and country levels.

Among the natures studied in this report, the conventional segment is expected to account for the larger share of the almond milk market in 2024. This segment’s substantial market share is primarily due to a higher acceptance rate compared to organic almond milk, driven by greater availability in grocery stores and supermarkets. Additionally, the ease of sourcing raw materials and lower production costs make conventional almond milk more affordable for a broader range of consumers worldwide.

Among the flavors studied in this report, the non-flavored segment is expected to account for the larger share of the almond milk market in 2024. The substantial market share of this segment is driven by consumer preferences for healthier options and minimally processed foods, which contain fewer additives and sugars. Unflavored almond milk can easily be incorporated into smoothies, soups, sauces, and baked goods, complementing both sweet and savory dishes without overpowering other flavors. It also serves as a direct substitute for cow's milk in various applications, from coffee to cooking.

Among the packaging materials studied in this report, the glass segment is expected to account for the largest share of the almond milk market in 2024. This segment's substantial market share is primarily attributed to the widespread adoption of glass packaging by almond milk manufacturers in response to consumer demand. Glass is viewed as a safer option, as it helps preserve the freshness and flavor of almond milk while being non-reactive which minimizes the risk of contamination.

Among the distribution channels studied in this report, the business-to-consumer segment is expected to account for the larger share of the almond milk market in 2024. This segment's substantial market share is primarily attributed to the rising retail sales of almond milk in supermarkets and hypermarkets, expanded shelf space for plant-based products in modern grocery stores, and a growing preference for shopping at brick-and-mortar stores due to ease of access and availability. Additionally, increasing consumer acceptance of vegan and vegetarian dairy alternatives, particularly almond milk, further supports this growth.

Among the applications studied in this report, the beverages segment is expected to account for the largest share of the business-to-business almond milk market in 2024. This segment's substantial market share is primarily driven by the high consumption of ready-to-drink products. Consumer preferences for plant-based beverages are strong, attributed to their nutritional benefits and dietary considerations, as well as their effectiveness as substitutes for cow's milk in a variety of beverage preparations.

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Poland, Netherlands, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Malaysia, Thailand, Singapore, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), and the Middle East & Africa (Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa).

Among the geographies studied in this report, Asia-Pacific is expected to account for the largest share of 49.8% of the almond milk market in 2024, followed by Europe, North America, Latin America, and the Middle East & Africa. The significant share of this regional market can be attributed to several factors, including increasing health consciousness, a large vegan and vegetarian population, rising demand for ready-to-drink products, a strong presence of both local and global producers, and the high adoption of new technologies in the food and beverage industry.

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Key Questions Answered in the Report-

What is the value of revenue generated by the sale of almond milk?
At what rate is the global demand for almond milk projected to grow for the next five to seven years?
What is the historical market size and growth rate for the almond milk market?
What are the major factors impacting the growth of this market at global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which nature, flavor, packaging material, distribution channel, and application segments create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the almond milk market?
Who are the major players in the almond milk market? What are their specific product offerings in this market?
What recent developments have taken place in the almond milk market? What impact have these strategic developments created on the market?

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Redding, California - October 25, 2024

Almond Milk Market to Reach $33.08 Billion by 2031

Almond Milk Market Size, Share, Forecast, & Trends Analysis by Nature (Organic, Conventional), Flavor (Unflavored, Flavored), Packaging Material (Glass), Distribution Channel (B2C, B2B), Application (Beverages, Personal Care) - Global Forecast to 2031

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