(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Sept. 23, 2024 (GLOBE NEWSWIRE) -- The "Almond Milk - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Almond Milk was estimated at US$13.2 Billion in 2023 and is projected to reach US$33.1 Billion by 2030, growing at a CAGR of 14.0% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers and forecasts.
Almond milk has rapidly become a staple in many households around the world, primarily due to the growing consumer preference for plant-based diets. As awareness of lactose intolerance and dairy allergies increases, more people are turning to almond milk as a nutritious and delicious alternative to cow's milk. This shift is further propelled by the rise in veganism and a broader movement towards healthier lifestyles.
How Are Technological Advancements Shaping Almond Milk Production?
Technological advancements have significantly enhanced the production processes of almond milk, leading to improved quality and variety. Innovations in food processing technology have enabled manufacturers to produce almond milk with a smoother texture and more consistent flavor. Advanced filtration and homogenization techniques ensure that almond milk retains its nutritional value while offering a pleasant mouthfeel.
Additionally, the development of new flavors and fortified options, such as almond milk enriched with vitamins and minerals, has broadened the product's appeal. These technological improvements have not only made almond milk more palatable but also expanded its application in various culinary uses, from barista-quality coffee to gourmet recipes, thereby strengthening its market position.
What Trends Are Driving the Demand for Almond Milk?
Several key trends are driving the increasing demand for almond milk. One of the most significant is the rising awareness of the health benefits associated with plant-based diets. Consumers are increasingly seeking dairy alternatives that offer similar nutritional benefits without the drawbacks of lactose and animal fats. Marketing campaigns that emphasize the health and environmental benefits of almond milk have been highly effective in attracting a broader audience.
Additionally, the expansion of distribution channels, including online platforms and specialty health food stores, has made almond milk more accessible to consumers worldwide. Sustainability concerns also play a crucial role, as almond milk is perceived to have a lower environmental impact compared to traditional dairy farming, aligning with the values of eco-conscious consumers.
What Factors Are Propelling the Growth of the Almond Milk Market?
The growth in the almond milk market is driven by several factors, primarily technological advancements, evolving consumer behaviors, and expanding applications. Technological innovations in production processes have made almond milk more appealing and versatile, boosting its adoption. Evolving consumer behaviors, particularly the increasing preference for plant-based and health-conscious diets, have significantly fueled demand.
Additionally, the rise of the vegan population and the growing awareness of lactose intolerance and dairy allergies are major drivers. The expanding applications of almond milk in various culinary and nutritional products, including fortified and flavored varieties, generate new opportunities for market growth. Strategic collaborations and partnerships between manufacturers and retailers have also played a critical role in enhancing market reach and consumer access. Furthermore, the increase in disposable incomes, particularly in emerging markets, has enabled more consumers to opt for premium almond milk products, further propelling market expansion.
Key Insights:
Market Growth: Understand the significant growth trajectory of the Plain Almond Milk segment, which is expected to reach US$18.4 Billion by 2030 with a CAGR of a 13.4%. The Flavored Almond Milk segment is also set to grow at 14.9% CAGR over the analysis period. Regional Analysis: Gain insights into the U.S. market, which was estimated at $3.4 Billion in 2023, and China, forecasted to grow at an impressive 17.9% CAGR to reach $8.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
How is the Global Almond Milk Market expected to evolve by 2030? What are the main drivers and restraints affecting the market? Which market segments will grow the most over the forecast period? How will market shares for different regions and segments change by 2030? Who are the leading players in the market, and what are their prospects?
Report Features:
Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030. In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Company Profiles: Coverage of major players such as Blue Diamond Growers, Califia Farms, Earth's Own Food Company, and more. Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 329 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $13.2 Billion |
| Forecasted Market Value (USD) by 2030 | $33.1 Billion |
| Compound Annual Growth Rate | 14.0% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
Global Economic Update Almond Milk - Global Key Competitors Percentage Market Share in 2024 (E) Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
Growing Consumer Preference for Plant-Based Diets Propels Growth of Almond Milk Market Rising Awareness of Lactose Intolerance Expands Addressable Market Opportunity for Almond Milk Advancements in Production Processes Strengthen Business Case for Almond Milk Here`s How Health and Wellness Trends Spur Demand for Almond Milk Increasing Vegan Population Drives Adoption of Almond Milk Products Innovations in Almond Milk Flavors and Varieties Generate Demand Expanding Distribution Channels Accelerate Demand for Almond Milk Enhanced Nutritional Profiles of Almond Milk Products Strengthen Business Case Growth in Specialty and Health Food Stores Expands Addressable Market Opportunity Increasing Incidence of Dairy Allergies Spurs Growth in Almond Milk Market
GLOBAL MARKET PERSPECTIVE
FOCUS ON SELECT PLAYERS (Total 53 Featured):
Blue Diamond Growers Califia Farms Earth's Own Food Company Freedom Foods Hain Celestial Group Hiland Dairy Foods Nutriops Pacific Foods Pureharvest Sanitarium Health and Wellbeing SunOpta The Bridge WhiteWave Foods
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