Almond Milk Market Size Anticipated to Reach Around US$ 20.3 Billion By 2028 | Industry CAGR of 13.6%

According to the latest report by IMARC Group, titled "Almond Milk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on almond milk market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global almond milk market size reached US$ 8.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.3 Billion by 2028, exhibiting a growth rate (CAGR) of 13.6% during 2023-2028.

What are almond milk?

Almond milk represents a dairy substitute made from water, sugar, presoaked almonds, and acacia. It has a white, creamy texture with a nutty taste. Almond milk is lactose-free and has fewer calories and phosphorus compared to conventional milk. Commercially, it is produced in sweetened and unsweetened forms and various flavors, such as chocolate, mango, vanilla, and strawberry. Almond milk is a rich source of magnesium, antioxidants, vitamins E and D, and omega-3 fatty acids. In addition to this, the consumption of this dairy substitute aids in strengthening bones and muscles, maintaining blood sugar levels, preventing osteoporosis, and lowering the risk of Alzheimer's disease. As a result, almond milk finds widespread applications in the food and beverage (F&B) and personal care industries.

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What are the growth prospects and trends in the almond milk industry?

The escalating cases of lactose intolerance and hypercholesterolemia and the increasing consumer health consciousness are among the primary factors driving the almond milk market. Besides this, the rising awareness toward animal welfare has encouraged individuals to adopt veganism and incorporate plant-based derivatives in their regular diet, which is further augmenting the market growth. Moreover, the introduction of unique almond milk flavors, such as toasted coconut, and the development of on-the-go variants by the leading players are also catalyzing the global market. Apart from this, the elevating product requirement in the preparation of various chocolates, cream liquor, and bakery goods for the lactose-intolerant population is acting as another significant growth-inducing factor. Additionally, the expanding e-commerce sector and the easy availability of this dairy substitute through online distribution channels with free shipping and home delivery facilities are also stimulating the market growth. Furthermore, the growing product popularity in the cosmetics industry to formulate face creams and hair care variants is anticipated to propel the almond milk market over the forecasted period.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• 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
• SunOpta Inc.
• The WhiteWave Foods Company

Almond Milk Market Segmentation:

Our report has categorized the market based on region, type, category, packaging type, application and distribution channel.

Breakup by Type:
• Plain
• Flavored

Breakup by Category:
• Organic
• Conventional

Breakup by Packaging Type:
• Carton
• Glass
• Others

Breakup by Application:
• Beverages
• Frozen Desserts
• Personal Care
• Others

Breakup by Distribution Channel:
• Hypermarkets and Supermarkets
• Convenience Stores
• Online Stores
• Others

Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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