Almond Milk Market Report by Type (Plain, Flavored), Category (Organic, Conventional), Packaging Type (Carton, Glass, and Others), Application (Beverages, Frozen Desserts, Personal Care, and Others), Distribution Channel (Hypermarkets and Supermarkets, Co

Almond Milk Market Report by Type (Plain, Flavored), Category (Organic, 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), and Region 2024-2032

The global almond milk market size reached US$ 10.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 31.3 Billion by 2032, exhibiting a growth rate (CAGR) of 12.9% during 2024-2032. The increasing incidences of lactose intolerance and dairy allergies among individuals, the growing popularity of veganism and plant-based diets, and continuous innovation in the almond milk category are some of the major factors propelling the market.

Almond milk is a popular dairy-free milk option produced from almonds. It is produced with soaked whole almonds, blended with water, and then strained to remove the almond solids, resulting in a creamy, nutty-flavored liquid. It offers numerous health benefits and suitability for individuals with lactose intolerance, dairy allergies, or a vegan diet. Additionally, it is a rich basis of essential nutrients, including vitamin E, calcium, and healthy fats. It is also often fortified with vitamins such as vitamin D and calcium to enhance its nutritional value, which are naturally low in calories and cholesterol, making it an attractive option for heart-healthy alternatives to cow's milk.

The almond milk market is primarily driven by the growing health consciousness of individuals. In addition, the growing trend toward healthier eating habits among health-conscious consumers is positioning almond milk as a nutritious alternative to dairy milk, as it is naturally lactose-free, low in calories, and a source of vitamins and minerals, thus influencing the market growth. Moreover, the growing popularity of veganism and plant-based diets derived from plant sources that do not involve animal products represents another major growth-inducing factor. Besides this, an increasing number of people are discovering that they have dairy allergies or are lactose intolerant, thus accelerating the market growth. It provides a dairy-free option that still offers a creamy texture and mild flavor, making it a suitable substitute for traditional milk. Furthermore, the easy availability of product in various flavors, such as original, vanilla, and chocolate, catering to diverse tastes of consumers is propelling the market growth.

Almond Milk Market Trends/Drivers:
The increasing incidences of lactose intolerance and dairy allergies among individuals

The market has experienced remarkable growth in recent years due to the growing incidences of lactose intolerance and dairy allergies among individuals. This trend has reshaped consumer preferences and dietary choices, leading to the escalating demand for dairy-free alternatives. In addition, lactose intolerance is a condition in which individuals have difficulty digesting lactose, a sugar found in cow's milk. It results in digestive discomfort such as bloating, diarrhea, and abdominal pain. Along with this, dairy allergies are immune system reactions to proteins in milk, which can manifest as a range of symptoms from hives to severe anaphylactic reactions, thus contributing to the market growth. Moreover, consumers are actively seeking alternatives to traditional dairy products, representing another major growth-inducing factor. Besides this, it is naturally lactose-free and devoid of the proteins responsible for dairy allergies and provides a creamy and satisfying milk substitute without the associated discomfort or allergic reactions, thus augmenting the market growth. Furthermore, manufacturers are capitalizing on this trend by producing numerous products, including flavored and fortified varieties, thus creating a positive market outlook.

The growing popularity of veganism and plant-based diets

The shift in dietary preferences of consumers is augmenting the market growth. In addition, the rise of veganism and plant-based diets due to the increasing awareness of health and environmental concerns among individuals is influencing the market growth. It is naturally cholesterol-free and lower in saturated fats, which aligns with health-conscious consumers seeking nutritious choices.. Also, the almond industry has made efforts to reduce water use, addressing concerns about almond cultivation's impact on water resources that align with the eco-friendly ethos of many vegans and plant-based enthusiasts who prioritize sustainable food choices, thus augmenting the market growth. Furthermore, the increasing use of product in culinary applications as a direct substitute for dairy milk in cooking, baking, and beverages is propelling the market growth. This adaptability has made it easier for individuals transitioning to vegan or plant-based diets to recreate familiar recipes without compromising on taste and texture.

Continuous innovation in the almond milk category

The emerging technological advancement in the almond milk sector is influencing market growth. In addition, manufacturers are introducing numerous flavored options, including vanilla, chocolate, and even barista-style almond milk customized for coffee lovers, catering to various taste preferences and elevating the consumption experience, thus augmenting the market growth. Moreover, several innovations such as almond milk creamers are emerging to mimic the rich, creamy texture of traditional dairy creamers, making them more versatile in coffee and culinary applications, representing another major growth-inducing factor. Along with this, the introduction of almond milk-based yogurt and ice cream products is gaining immense traction, expanding the category's offerings beyond beverages. Besides this, brands are actively working to reduce water use in almond farming, implementing eco-friendly packaging, and promoting responsible sourcing practices, thus accelerating the product adoption rate. Furthermore, several packaging innovations, such as single-serv options and shelf-stable packaging, are increasing convenience and accessibility for consumers, is also providing a positive thrust to market growth.

Almond Milk Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global almond milk market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on type, category, packaging type, application and distribution channel.

Breakup by Type:

Plain
Flavored

Flavored represents the most popular type

The report has provided a detailed breakup and analysis of the market based on the type. This includes plain, and flavored. According to the report, flavored accounted for the largest market share.

Flavored almond milk represents a fusion of the natural goodness of almonds with various enticing flavors, such as vanilla, and chocolate to more exotic options such as matcha and lavender, transforming the dairy-free beverage industry.

Moreover, the growing consumer demand for numerous enjoyable plant-based milk options represents another major growth-inducing factor. The appeal of flavored product relies on its rich and creamy texture and the delightful taste experiences it offers. These flavors are carefully crafted to cater to various taste preferences, making them a versatile choice for culinary applications.

Besides this, it is a suitable alternative for individuals with lactose intolerance or dairy allergies and it aligns with the preferences of vegans and vegetarians, as it is entirely plant-based, thus propelling the market growth.

Breakup by Category:

Organic
Conventional

Organic milk holds the largest share of the market

A detailed breakup and analysis of the market based on the category has also been provided in the report. This includes organic and conventional. According to the report, organic milk accounted for the largest market share.

The organic category is driven by the growing consumer preference for products that align with a health-conscious and eco-friendly lifestyle. In addition, organic product stands out as a clear embodiment of these values, thus contributing to the market growth.

Moreover, the growing awareness about health and wellness has encouraged consumers to change their dietary choices and shift to organic almond milk, devoid of synthetic pesticides and genetically modified organisms (GMOs), catering to individuals seeking a dairy alternative that complements their clean-eating aspirations, thus representing another major growth-inducing factor.

Besides this, the growing environmental awareness associated with organic product led consumers to opt for cultivated and processed products in a manner that reduces the ecological footprint, thus accelerating market growth.

Breakup by Packaging Type:

Carton
Glass
Others

Glass presently accounts for the largest market share

A detailed breakup and analysis of the market based on the packaging type has also been provided in the report. This includes carton, glass, and others. According to the report, glass accounted for the largest market share.

Glass packaging is gaining traction due to its inherent qualities of preserving product quality and freshness. It is a perishable item, that benefits significantly from the impermeable nature of glass, which shields it from external contaminants and preserves its taste and nutritional value. This assurance of product integrity aligns well with consumers' growing demand for healthier food and beverage options.

Furthermore, glass packaging is considered an eco-friendly choice, which resonates strongly with the environmentally conscious consumer base. The recyclability of glass makes it a sustainable option, contributing to reducing the carbon footprint associated with packaging materials. This eco-conscious attribute is in harmony with the broader trend toward sustainable and responsible consumer choices, accelerating the glass packaging's appeal in the market.

Besides this, glass packaging exudes a premium image, aligning with product positioning as a healthier and premium alternative to traditional dairy milk, thus propelling market growth.

Breakup by Application:

Beverages
Frozen Desserts
Personal Care
Others

Beverages hold the largest share of the market

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes beverages, frozen desserts, personal care, and others. According to the report, beverages accounted for the largest market share.

The beverage sector is driven by the rising preference for almond milk. In addition, an increasing number of health-conscious individuals are inclined toward almond milk for its nutritional benefits, such as vitamins, minerals, and healthy fats, thus influencing the market growth. As consumers increasingly prioritize healthier lifestyles, the demand for nutritious beverages is growing, positioning them as a versatile and wholesome choice leading to the proliferation of plant-based smoothies, shakes, and dairy alternatives in the beverage sector.

Furthermore, the growing prevalence of lactose intolerance and dairy-free diets has created a substantial demand for products as a viable substitute for traditional dairy products resulting in innovations in almond milk-based coffee drinks, tea lattes, and dairy-free creamers, catering to various dietary needs, thus propelling the market growth.

Breakup by Distribution Channel:

Hypermarkets and Supermarkets
Convenience Stores
Online Stores
Others

Hypermarkets and supermarkets presently account for the largest market share

A detailed breakup and analysis of the market based on the distribution channel has also been provided in the report. This includes hypermarkets and supermarkets, convenience stores, online stores, and others. According to the report, hypermarkets and supermarkets accounted for the largest market share.

Hypermarkets and supermarkets are driven by their extensive reach and widespread accessibility. Consumers, seeking convenience and variety, find these retail outlets to be ideal destinations for their product purchases.

Moreover, hypermarkets and supermarkets offer various brands and flavors under one roof to cater to the evolving preferences of consumers, from traditional milk to innovative blends such as almond-coconut or almond-soy milk that enhances the shopping experience and encourages brand exploration, thus representing another major growth-inducing factor.

Apart from this, the sheer size and scale of hypermarkets and supermarkets allow them to negotiate favorable terms with manufacturers resulting in competitive pricing, discounts, and promotional offers that attract price-sensitive consumers, thus propelling the market growth.

Furthermore, these retail giants invest heavily in marketing and promotion, raising awareness about the benefits through strategic advertising campaigns and in-store displays, contributing to the market growth.

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

North America exhibits a clear dominance in the market

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

The North American market is primarily driven by the growing awareness among individuals regarding the health benefits of almond milk. It is often lauded for its lower calorie content compared to traditional cow's milk, making it an attractive option for health-conscious individuals. Additionally, it is a suitable choice for those with lactose intolerance or dairy allergies, the rise of plant-based diets, and veganism among conscious consumers, thus influencing the market growth. Along with this, the growing food and beverage sector provides consumers with numerous choices in terms of flavors, textures, and nutritional profiles creating a positive market outlook.

Moreover, the European market is driven by health-conscious consumers opting for almond milk due to its lower calorie content and lactose-free nature. In addition, the increasing popularity of plant-based diets, and sustainability concerns resulted in the escalating demand for products to lower environmental impact, thus propelling the market growth.

Furthermore, the Asia Pacific market is driven by the growing health consciousness among consumers. Also, the rising middle-class population in many Asian countries is escalating the demand for premium products. Manufacturers are capitalizing on this trend by introducing innovative flavors and formulations to cater to Asian tastes.

Competitive Landscape:
At present, key players in the market are continuously innovating and implementing strategic initiatives to strengthen their positions in this competitive industry. They are expanding their product portfolios to cater to diverse consumer preferences including introducing various flavors, sweetened and unsweetened options, and even almond milk-based creamers and yogurts. Moreover, companies are investing heavily in marketing and branding efforts to establish their products as high-quality and trustworthy choices and promote the health benefits, sustainability, and ethical aspects of products to resonate with consumer values. They are exploring innovations in milk production, such as improving the texture and taste, enhancing nutritional profiles, and using new ingredients to differentiate their offerings. Apart from this, key players are engaging with consumers through social media, educational campaigns, and feedback channels to help companies understand consumer preferences and adjust their products accordingly.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the 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 Health and Wellbeing Company
SunOpta Inc.
The WhiteWave Foods Company.

Recent Developments:
In January 2022, Blue Diamond Growers, the world’s prominent almond marketer and processor, expands its selection of Almond Breeze products with the launch of Almond Breeze Extra Creamy Almond milk.
In January 2023, Califia Farms LLC, a prominent, premium plant-based beverage brand, expanded its award-winning line of dairy-free products with the introduction of United States depart of Agriculture (USDA) certified almond milk and organic oat milk to meet the needs of consumers seeking products with fewer ingredients, yet at an accessible price point that are available at Kroger Co., Whole Foods Market, Sprouts Farmers Market, and other retailers nationwide.
In February 2021, SunOpta Inc. extended its plant-based extraction facilities and production capacity in its beverage plant in Allentown, Pennsylvania, which followed its three major projects completed in 2020 and the company announced the acquisition of Dream, famous for almond-based milks and WestSoy from the Hain Celestial Group, the two of the largest and established brands in the shelf-stable plant-based dairy space.

Key Questions Answered in This Report

1. What was the size of the global almond milk market in 2023?
2. What is the expected growth rate of the global almond milk market during 2024-2032?
3. What are the key factors driving the global almond milk market?
4. What has been the impact of COVID-19 on the global almond milk market?
5. What is the breakup of the global almond milk market based on the type?
6. What is the breakup of the global almond milk market based on the category?
7. What is the breakup of the global almond milk market based on packaging type?
8. What is the breakup of the global almond milk market based on the application?
9. What is the breakup of the global almond milk market based on the distribution channel?
10. What are the key regions in the global almond milk market?
11. Who are the key players/companies in the global almond milk market?