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Almond Drink Market Size
Almond Drink Market size was valued at USD 4.4 billion in 2022 and is estimated to witness 5.3% CAGR from 2023 to 2032. The increasing adoption of plant-based diets and the rise of veganism have led consumers to seek dairy alternatives like almond milk due to ethical, environmental, and health reasons. Almond milk serves as an excellent option for individuals who are lactose intolerant or have dairy allergies, allowing them to enjoy a milk-like beverage without discomfort.
Almond milk is perceived as a healthier alternative to dairy milk, as it is typically lower in calories and saturated fats. It also naturally contains vitamins and minerals such as vitamin E and calcium.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 4.4 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 5.3% |
| 2032 Value Projection: | USD 7.5 Billion |
| Historical Data for: | 2018 to 2032 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 246 |
| Segments covered: | Type, Flavor, End-use, Distribution Channel, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Despite being a dairy alternative, almond milk can pose challenges for individuals with nut allergies. The almond industry has faced criticism for its water-intensive cultivation practices, particularly in regions with water scarcity. Like many packaged products, almond milk contributes to plastic waste due to its packaging.
COVID-19 Impact
The pandemic heightened consumer awareness of health and wellness, leading many to seek out healthier food and beverage options. Almond milk, being a dairy alternative perceived as healthier, saw increased demand from health-conscious consumers. Thus, the reduced number of COVID-19 cases and implementation of subsequent strategies by government and non-government organizations is set to drive the market growth.
Almond Drink Market Trends
The global shift toward plant-based diets and lifestyles has driven the demand for almond milk and other dairy alternatives. Consumers are increasingly seeking healthier and sustainable options. Almond milk brands are introducing a wide range of flavor options beyond the traditional unsweetened and original varieties. Flavors like vanilla, chocolate, matcha, and more cater to diverse taste preferences.
Almond Drink Market Analysis
The almond drink market from unsweetened segment dominated around USD 2.6 billion revenue in 2022. Individuals seeking a dairy alternative with lower calories and no added sugars opt for original or unsweetened almond drinks.
The chocolate flavored segment accounted for 40% of the almond drink market share in 2022. Chocolate-flavored almond drinks appeal to consumers seeking a more indulgent beverage option.
The almond drink market from beverages segment is anticipated to grow at 5.1% CAGR through 2032. Almond drinks serve as a popular dairy milk substitute in coffee, tea, and other beverages for individuals with lactose intolerance or dairy allergies.
Based on distribution channel the Hypermarkets/Supermarkets segment will gain remarkable momentum during the forecast timeline. Supermarkets and hypermarkets offer a wide variety of almond drink brands and flavors, making it convenient for consumers to find their preferred options.
U.S. almond drink market size held over USD 1.1 billion in 2022. The growing popularity of plant-based diets, driven by health and sustainability concerns, fuels demand for almond drinks as a dairy milk alternative.
Almond Drink Market Share
Some of the major companies operating in the almond drink industry are
- Califia Farms LLC
- Silk
- Blue Diamond Growers
- Pacific Foods
- Elmhurst 1925
- So Delicious Dairy Free
- Alpro
- Forager Project
- MALK Organics
- Rude Health
- Dream Plant-Based Beverages
- Three Trees
- New Barn Organics
- Mooala Brands
- Nutty Life
These companies focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these companies are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Almond Drink Industry News:
- In June 2021, Danone declared additional investments for actively expanding its almond milk brand called Silk. The company further launched novel campaigns on Silk Almonds which gained positive results.
This almond drink market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion & Units from 2018 to 2032, for the following segments:
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Market, By Type
- Unsweetened
- Sweetened
Market, By Flavour
- Chocolate
- Vanila
- Others
Market, By End-use
- Beverages
- Culinary Applications
- Cereal and Breakfast Foods
- Desserts and Sweets
- Snacks and On-the-Go
- Others
Market, By Distribution Channel
- Hypermarkets/Supermarkets
- Online Retailers
- Department & Grocery Stores
- Others
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Malaysia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Egypt
Frequently Asked Questions (FAQ) :