Dublin, Oct. 03, 2023 (GLOBE NEWSWIRE) -- The "Almond Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global almond milk market has witnessed substantial growth, reaching $8.9 billion in 2022, and is expected to expand even further. The market is projected to reach $20.3 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 13.6% during the forecast period from 2023 to 2028.
Market Overview
Almond milk, made from an emulsion of blanched almonds, acacia, sugar, and water, has gained significant popularity as a lactose-free, low-calorie alternative to conventional milk. It is not only rich in vitamins E and D but also offers numerous health benefits, including heart health, bone and muscle strengthening, blood sugar level maintenance, and support for weight management.
These qualities have made almond milk a sought-after product in the food and beverage (F&B) and personal care industries worldwide. The market offers a variety of packaging and flavors, including plain, vanilla, mango, and chocolate.
Key Market Drivers
Several factors are contributing to the growth of the global almond milk market:
- Rising Cases of Lactose Intolerance and Hypercholesterolemia: The increasing prevalence of lactose intolerance and hypercholesterolemia is driving demand for almond milk as a suitable dairy alternative.
- Growing Health Consciousness: As individuals become more health-conscious, they are turning to plant-based options like almond milk. This trend is particularly strong among the vegan population.
- Expansion into Personal Care: The personal care industry, influenced by changing lifestyles and rising incomes, is incorporating almond milk-based products into their offerings.
- E-commerce Growth: With the growth of the e-commerce sector, leading manufacturers are offering almond milk products through online distribution channels, offering convenience and unique flavors to consumers.
Market Segmentation
The global almond milk market is segmented based on several key factors:
- Type: Plain and flavored.
- Category: Organic and conventional.
- Packaging Type: Carton, glass, and others.
- Application: Beverages, frozen desserts, personal care, and others.
- Distribution Channel: Hypermarkets and supermarkets, convenience stores, online stores, and others.
- Region: North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.
Key Players
Key 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., and The WhiteWave Foods Company, among others.
Key Questions Answered in This Report
- What was the size of the global almond milk market in 2022?
- What is the expected growth rate of the global almond milk market during 2023-2028?
- What are the key factors driving the global almond milk market?
- What has been the impact of COVID-19 on the global almond milk market?
- What is the breakup of the global almond milk market based on the type?
- What is the breakup of the global almond milk market based on the category?
- What is the breakup of the global almond milk market based on packaging type?
- What is the breakup of the global almond milk market based on the application?
- What is the breakup of the global almond milk market based on the distribution channel?
- What are the key regions in the global almond milk market?
- Who are the key players/companies in the global almond milk market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 149 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $8.9 Billion |
| Forecasted Market Value (USD) by 2028 | $20.3 Billion |
| Compound Annual Growth Rate | 14.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/o594hl
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