The market for walnut milk is projected to grow at a moderate rate between 2022 and 2032, or 8.6% CAGR. The market is anticipated to increase from US$ 365.5 million in 2022 to US$ 810.5 million by 2032, according to FMI.
According to the Future Market Insights walnut milk market study report, the market has risen substantially in recent years coupled with improving consumer demand for organic walnut milk and growing consumer attitude toward a healthier diet.
Walnuts are abundant in high–quality protein and essential fatty acids, which has led to an increase in sales of walnut milk as well as other walnut derivatives. Despite the fact that walnut milk is available in a range of flavors, people actually prefer the neutral flavor or unsweetened walnut milk the most.
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Walnut milk protein is in high demand due to the fact that it is lactose-free and allergy-free. Secondly, a large walnut milk business potential has arisen as a result of the dynamic movement in consumption patterns toward pre-packaged foods and beverages.
Almond and walnut milk protein is rich in Omega-3 fatty acids and has several qualities that help with weight loss, which has increased demand for walnut milk amongst health-conscious people. Besides, it aids in the reduction of stress, the prevention of cardiovascular diseases, and the reduction of obesity and type 2 diabetes, leading to rise of the walnut milk market share in a number of areas.
The COVID-19 crisis is caused a massive slowdown in the supply chain, drop-in business confidence, stock market uncertainty, and an increase in panic among customer segments negatively impacting the global walnut milk market. However with the rising consumer awareness and drop in walnut milk price is predicted to further strengthen the overall market in coming days.
Key Takeaways from Market Study
- The net worth of the global walnut milk market size is estimated to be around US$ 247.7 Million in the current year 2022.
- The walnut milk market share in China is expected to grow at a CAGR of 6.8% for the forecasted period 2022-2032.
- The walnut milk market in the U.S is expected to grow at a CAGR of 6.5% during the forecasted period 2022-2032.
- Walnut milk protein is in high demand because it is lactose-free and does not cause allergies. It is also popular due to the health benefits it provides.
- The global walnut milk market is divided into flavours such as chocolate, vanilla, unsweetened, original, and other segments.
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“Changing lifestyles, rising consumption and production of walnut milk products, and rising disposable income are some of the factors expected to support global walnut milk market revenue growth,” says a lead analyst at Future Market Insights.
Who is winning?
Due to their vast diverse products and constant industry innovation, the top players dominate a significant piece of the global walnut milk market. As a business strategy, the walnut milk market key players have been seen focusing on product introduction, promotion, collaboration, integrations, and acquisitions to build their position in several marketplaces.
Some of the prominent walnut milk market players include Alpine Pacific Nut Co, Grower Direct Nut Co. Inc., Guerra Nut Shelling Co Inc., Poindexter Nut Company, Andersen Shelling Inc., Webster Limited, Mariani Nut Company Inc., Haleakala Walnut Shelling Inc., and Kashmir Walnut Group.
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Future Market Insights, in its new offering, provides an unbiased analysis of walnut milk presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
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Walnut Milk Market by Category
By Flavor, Walnut Milk Market is Segmented as:
- Original
- Chocolate
- Vanilla
- Unsweetened
- Others
By Distribution Channel, Walnut Milk Market is Segmented as:
- Supermarkets/Hypermarkets
- Specialty Stores
- Convenience Stores
- Online
- Others
By Region, Walnut Milk Market is Segmented as:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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