In 2023, the global almond drink market was valued at US$ 4,719.5 million. The market is expected to reach approximately US$ 7,751.1 million by 2033, with a growing CAGR of 5.1% from 2023 to 2033. These two crucial factors will boost the demand for almond drinks in the future.
Almond drinks are produced with ground almonds, which have a nutty flavour and a creamy consistency. Almond milk is lactose-free and popular with lactose-sensitive people as well as others who avoid dairy products, including vegans. Blue Diamond’s Almond Breeze and White Wave Foods’ Silk Pure Almond are two of the most popular almond drink brands globally. Almond drinks are the most popular milk alternative worldwide, with sales increasing in recent years.
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Dietary constraints may possibly be playing a part in the recent rise of almond drinks, as the drinks have a significantly lower level of lactose than regular milk and milk-based products. Almond drinks are protein-rich and calcium-fortified. Almond drinks are low in calories, which helps to lower 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
The almond drink market is segmented on the basis of distribution channel
- online stores
- supermarket/hypermarket
- retail stores
- others
The almond drink market is segmented on the basis of application
- cheese
- desserts
- snacks
- beverages
- cold-pressed milks
- others
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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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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