The Global Almond Drink Market Size is valued at 4.27 billion in 2022 and is predicted to reach 8.23 billion by 2031 at 7.69% CAGR during the forecast period for 2023-2031.
A non-dairy milk called almond milk is prepared by combining water and crushed almonds. Almond milk is used for beverages, cooking and baking, nutritional supplement, skincare, lactose intolerance and a vegan-plant based diet. Growing health and wellness trends among consumers, growing disposable income and changing consumer preferences, and growing popularity of veganism and plant-based diets are key drivers to boost the almond drink market.
High production costs, seasonal fluctuations in almond supply, competition from other plant-based alternatives, flavor and texture issues, and limited shelf life are some of the major challenges faced by the market.
The almond drink market is segmented into type, application and distribution channel. Based on type, the market is segmented into sweetened and unsweetened. By application, the market is segmented into the food service industry, household, and other applications. Based on distribution channels, the market is segmented into e-commerce, retail, supermarket/hypermarket, and others.
Over the projected period, the online retail segment is anticipated to post the fastest revenue. Due to factors including a growth in the number of programs allowing online shopping and the simplicity of payment, internet retail has become extremely popular. Additionally, doorstep delivery allows customers to order and receive from the comfort of their homes, saving them time. Most businesses allowed staff members to work from home during the pandemic. As a result, more people are placing orders online to help them save time and avoid leaving the house, which is anticipated to fuel the segment's revenue growth throughout the projection period.
The unsweetened segment led the global market for almond drink market. Demand for beverages without added sugar increases as diabetes, hypertension and other cardiovascular disorders become more common. As per the research, it is estimated that some individuals have diabetes, and many adults have pre-diabetes, a disease marked by elevated blood glucose levels. These elements create a possible growth opportunity for the unsweetened almond drink market during the anticipated term.
The North America Almond Drink Market is expected to register the highest market share in revenue shortly. Depending on variables like the increasing demand for frozen desserts, it is anticipated that increased lifestyle adoption and dietary changes will further fuel market revenue growth. Moreover, rising environmental concerns are anticipated to enhance consumer adoption of almond milk in their daily routines, which will fuel regional market revenue growth.
In addition, the Asia-Pacific market is anticipated to overtake all other markets. Worldwide demand is anticipated to rise, particularly in the beverage industry. Almond milk is widely consumed in nations like China and India. Almond milk is used widely, which has led to increased demand in Japan. The increase in the number of vegans in the area drives the beverages segment's revenue growth. These elements are anticipated to fuel market revenue expansion in the area.
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Report Attribute |
Specifications |
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Market size value in 2022 |
USD 4.27 billion |
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Revenue forecast in 2031 |
USD 8.23 billion |
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Growth rate CAGR |
CAGR of 7.69 % from 2023 to 2031 |
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Quantitative units |
Representation of revenue in US$ Million, and CAGR from 2023 to 2031 |
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Historic Year |
2019 to 2022 |
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Forecast Year |
2023-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments covered |
Type, Application and Distribution Channel |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; South East Asia |
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Competitive Landscape |
Fuerst Day Lawson, The Pressery, DREAM, Nutriops S.L., NATURA FOODS, Rude Health, Blue Diamond Growers, THE LUZ ALMOND COMPANY PTY Ltd., Alpro, Provamel, and MALK Organics. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Almond Milk Market Snapshot
Chapter 4. Global Almond Milk Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Product Type Estimates & Trend Analysis
5.1. by Product Type & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Product Type:
5.2.1. Sweetened
5.2.2. Unsweetened
Chapter 6. Market Segmentation 2: by Application Estimates & Trend Analysis
6.1. by Application & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:
6.2.1. Food Service Industry
6.2.2. Household
6.2.3. Others
Chapter 7. Market Segmentation 3: by Distribution Channel Estimates & Trend Analysis
7.1. by Distribution Channel & Market Share, 2019 & 2031
7.2. Market Size (Value (US$ Mn)) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Distribution Channel:
7.2.1. E-Commerce Platform
7.2.2. Retail
7.2.3. Super Market/ Hypermarket
7.2.4. Others
Chapter 8. Almond Milk Market Segmentation 4: Regional Estimates & Trend Analysis
8.1. North America
8.1.1. North America Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2022-2031
8.1.2. North America Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by Application, 2022-2031
8.1.3. North America Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2022-2031
8.1.4. North America Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by country, 2022-2031
8.2. Europe
8.2.1. Europe Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2022-2031
8.2.2. Europe Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by Application, 2022-2031
8.2.3. Europe Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2022-2031
8.2.4. Europe Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by country, 2022-2031
8.3. Asia Pacific
8.3.1. Asia Pacific Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2022-2031
8.3.2. Asia Pacific Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by Application, 2022-2031
8.3.3. Asia-Pacific Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2022-2031
8.3.4. Asia Pacific Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by country, 2022-2031
8.4. Latin America
8.4.1. Latin America Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2022-2031
8.4.2. Latin America Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by Application, 2022-2031
8.4.3. Latin America Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2022-2031
8.4.4. Latin America Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by country, 2022-2031
8.5. Middle East & Africa
8.5.1. Middle East & Africa Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2022-2031
8.5.2. Middle East & Africa Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by Application, 2022-2031
8.5.3. Middle East & Africa Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by Distribution Channel, 2022-2031
8.5.4. Middle East & Africa Almond Milk Market Revenue (US$ Million) Estimates and Forecasts by country, 2022-2031
Chapter 9. Competitive Landscape
9.1. Major Mergers and Acquisitions/Strategic Alliances
9.2. Company Profiles
9.2.1. Alpro
9.2.2. Blue Diamond Growers
9.2.3. Daiya Foods Inc.
9.2.4. DREAM
9.2.5. Fuerst Day Lawson
9.2.6. Galaxy Nutritional Foods, Inc.
9.2.7. Hain Celestial Group
9.2.8. MALK Organics
9.2.9. NATURA FOODS
9.2.10. Nutriops S.L.
9.2.11. Provamel
9.2.12. Rude Health
9.2.13. Sunopta Inc.
9.2.14. THE LUZ ALMOND COMPANY PTY Ltd.
9.2.15. The Pressery
9.2.16. Tofutti Brands Inc.
9.2.17. Whitewave Foods
9.2.18. Other Prominent Players
By Type-
By Application-
By Distribution Channel-
By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
Rest of the Middle East and Africa
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
To know more about the research methodology used for this study, kindly contact us/click here.
