The Almond Drink Market valued at $4538 million in 2022, is projected to hit $7489 million by 2032, showcasing a steady 6.5% CAGR. Almond drinks, favored for their creamy texture and lactose-free nature, cater to lactose intolerant individuals and vegans, contributing to their rising popularity, notably brands like Almond Breeze and Silk Pure Almond. Their widespread adoption has significantly boosted sales, establishing almond drinks as a leading global milk substitute.
In 2022, the worldwide Almond Drink Market was esteemed at US$ 4538 Million. The market is supposed to reach roughly US$ 7489 Million by 2032, with a developing CAGR of 6.5% from 2022 to 2032. These two essential variables will help the interest for almond drinks from now on.
Almond drinks are made with ground almonds, which have a creamy texture and nutty flavour.Since almond drinks don’t contain lactose, people who are lactose intolerant or who avoid dairy products—including vegans—strongly like them. The most widely drank almond drinks worldwide are Blue Diamond’s Almond Breeze and White Wave Food’s Silk Pure Almond. Since almond drinks are the most popular milk substitute used globally, sales have increased recently.
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Dietary restrictions may also be playing a vital role in the rise of almond drinks in the recent past, as the drinks lacks high amount of lactose as compared with traditional milk and milk-based products. Almond drinks are rich in protein and is calcium fortified drinks. Almond drinks are contains low calories which helps in reducing the risk of heart disease.
Almond drinks consists high amount of lipids, proteins and fibers which makes it a healthy drink and is mostly consumed by people that are lactose intolerant and others. Almond drinks also contains essential nutrients such as vitamin B6 and C, riboflavin, etc.
Global Almond Drink Market: Regional Outlook
Geographically, the global almond drink industry can be divided by major regions which include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Japan and Middle East & Africa. Globally, among all regions, North America has developed as the dominant region in global almond drink market followed by Europe and Asia Pacific. Increasing demand for almond drink in lactose-intolerant consumers, has strengthened the growth of global almond drink market and hence is projected to significantly expand the revenue contribution of the market over the forecast period.
Global Almond Drink Market: Growth Drivers
The global almond drink market driving factors are increasing demand for lactose-free food products due to the ease of digest which is likely to contribute significantly to the global almond drink market till 2025. Growing levels of lactose intolerance is one of the major driving factor of the market. Rising consumer awareness regarding usage of lactose-free dairy products in day-to-day life which will help in maintaining the galactose level in the body, is one of the major driving factor for the market globally.
Manufacturers are offering innovative dairy products to the consumers in order to remain in the competition in global almond drink market. Growing population of lactose intolerance consumers is also a major factor which is driving the global almond drink market. Hence, the global almond drink market is expected to observe robust growth over the forecast period.
Global Almond Drink Market: Key Players
Some of the key players identified across the value chain of the global almond drink market include Fuerst Day Lawson, The Pressery, THE LUZ ALMOND COMPANY PTY LTD, Alpro, Provamel, MALK Organics, DREAM, Nutriops S,L, NATURA FOODS, Rude Health, Blue Diamond Growers are among others.
The companies are expected to expand their business by enhancing their product portfolio in global almond drink market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global almond drink market till 2025.
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Regional analysis for Almond drink Market includes:
- North America
- Latin America
- Europe
- Asia Pacific & Japan
- The Middle East and Africa
Global Almond Drink: Market Segmentation
The global almond drink market is segmented on the basis of form, flavor, distribution channel, application and region.
Almond drink market is segmented on the basis of form
- plain unsweetened form
- plain sweetened form
Almond drink market is segmented on the basis of flavor
- chocolate
- vanilla
Almond drink market is segmented on the basis of distribution channel
- online stores
- supermarket/hypermarket
- retail stores
- others
Almond drink market is segmented on the basis of application
- cheese
- desserts
- snacks
- beverages
- cold-pressed milks
- others
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Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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