New York, United States , Sept. 03, 2024 (GLOBE NEWSWIRE) -- The Global Macadamia Milk Market Size is to Grow from USD 54.18 Million in 2023 to USD 118.68 Million by 2033, at a Compound Annual Growth Rate (CAGR) of 8.16% during the projected period
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Macadamia milk is a dairy-free milk substitute made by mixing water with soaked macadamia nuts. Macadamia milk tastes almost fruity and is rich, silky, and a great substitute for cow's milk. The market is increasing quickly because of rising health consciousness, the prevalence of lactose intolerance, allergies to traditional dairy products, and the accessibility of alternative milk sources including soy, hazelnut, and almond. Macadamia milk is a delicious and lactose-free solution for consumers who want to avoid common allergies and dairy products because of its rich nutty flavor and creamy texture. The power of macadamia milk is evident in its adaptability in the kitchen. The demand for a range of plant-based dairy products has surged due to the growing popularity of vegetarianism and veganism. The macadamia nut milk industry benefits from the widespread use of macadamia nut milk due to its luxurious creaminess and versatility in baking and cooking. Furthermore, the availability of alternatives is the primary reason preventing the market from expanding. Macadamia milk has competition in the market from various beverages, including plant-based functional options from well-known brands.
Browse key industry insights spread across 245 pages with 110 Market data tables and figures & charts from the report on the "Global Macadamia Milk Market Size, Share, and COVID-19 Impact Analysis, By Product (Plain/Unsweetened Milk and Flavored/Sweetened Milk), By Nature (Organic and Conventional), By Packaging (Tetra Pak, Bottles, and Cans), By Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The plain/unsweetened milk segment holds the largest market share of the macadamia milk market during the projected timeframe.
Based on the product, the macadamia milk market is divided into plain/unsweetened milk and flavored/sweetened milk. Among these, the plain/unsweetened milk segment holds the largest market share of the macadamia milk market during the projected timeframe. Plain or unsweetened macadamia milk is becoming a more and more popular option for those who are concerned about their health and wish to reduce their sugar intake without compromising flavor. Because plain or unsweetened milk typically consists of just a few basic ingredients, such as water and macadamia nuts, it is a popular choice among consumers who value quality and openness in their purchases.
The conventional segment holds the highest market share in the macadamia milk market during the projected timeframe.
Based on the nature, the macadamia milk market is divided into organic and conventional. Among these, the conventional segment holds the highest market share in the macadamia milk market during the projected timeframe. Conventional nuts are typically bought from farms that use conventional farming practices, which may include the use of pesticides, herbicides, and synthetic fertilizers. The rising accessibility of conventional macadamia milk variety is anticipated to drive market growth in the conventional segment.
The tetra pak segment is anticipated to grow at the highest CAGR of the macadamia milk market during the projected timeframe.
Based on the packaging, the macadamia milk market is divided into tetra pak, bottles, and cans. Among these, the tetra pak segment is anticipated to grow at the highest CAGR of the macadamia milk market during the projected timeframe. Tetra Pak offers a variety of carton sizes so that consumers can simply choose the product that best suits their needs, be it larger family packs or single-serving amounts for people with hectic schedules. Tetra Pak uses recyclable and lightweight materials to promote their food and packaging as eco-friendly options in the dairy substitute market, appealing to environmentally conscious consumers.
The supermarkets and hypermarkets segment is expected to hold the highest market share of the macadamia milk market during the projected timeframe.
Based on the distribution channel, the macadamia milk market is divided into supermarkets and hypermarkets, convenience stores, online, and others. Among these, the supermarkets and hypermarkets segment is expected to hold the highest market share of the macadamia milk market during the projected timeframe. Supermarkets and hypermarkets give an extensive choice of items and brands, giving customers greater convenience and a one-stop shopping experience. Physical stores provide clients with rapid access to products and the possibility to try various plant-based milk brands and types.
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North America is expected to hold the largest share of the macadamia milk market over the forecast period.
North America is expected to hold the largest share of the macadamia milk market over the forecast period. This domination is fueled by increased awareness of the health benefits of milk made from nuts. The increasing adoption of plant-based diets, including flexitarian and vegan diets, by the people in this region is driving up demand for macadamia milk as a dairy substitute. Because plant-based milk is now available at specialized coffee shops, retail stores, and coffee shops, it has also become more and more popular among health-conscious consumers. These improvements have raised the product's profile and made it more widely available.
Europe is predicted to grow at the fastest pace in the macadamia milk market during the projected timeframe. This fast growth is explained by some factors. In countries such as the UK, Germany, and the Netherlands, where consumers choose convenience and on-the-go consumption, macadamia milk has become a popular choice for those looking to diversify their diets. Furthermore, these countries have higher penetration rates for specialty grocery stores and health food stores catering to niche markets, which contribute to creating an environment that is conducive to the growth of plant-based milk products. Additionally, consumers are becoming more accepting and knowledgeable of nut milk due to its increasing availability in conventional supermarkets, where it is regularly positioned next to other plant-based milks.
Asia Pacific held onto a substantial share of the market because of the region's developing wealthy population, which is getting more daring with their food and diet. This is in addition to a notable rise in disposable income. Leading macadamia nut-producing countries such as New Zealand and Australia are witnessing a rise in the demand for macadamia milk both locally and abroad as consumers look for new and healthy beverage choices. Asia Pacific consumers' increasing awareness of environmental issues and sustainability initiatives is also driving a shift toward plant-based milk alternatives.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the macadamia milk market Buderim Nut Company, Eastern Produce, Golden Macadamias, Hamakua Macadamia Nut Company, Hawaiian Host Group, Nambucca Macnuts, Health and Plant Protein Group Limited, Ivory Macadamias, Kenya Nut Company, Patons Group, Nam Viet F&B, Noumi Limited, Omello, PlantBaby, Inc., and others.
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Recent Developments
- In May 2024, Milkadamia increased its line of premium plant-based glasses of milk made from pure-pressed raw, never-roasted macadamias with the introduction of Organic Artisan, now available nationwide in Whole Foods Market's shelf-stable center aisles.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the macadamia milk market based on the below-mentioned segments:
Global Macadamia Milk Market, By Product
- Plain/Unsweetened Milk
- Flavored/Sweetened Milk
Global Macadamia Milk Market, By Nature
- Organic
- Conventional
Global Macadamia Milk Market, By Packaging
- Tetra Pak
- Bottles
- Cans
Global Macadamia Milk Market, By Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Online
- Others
Global Macadamia Milk Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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