Peanut Milk Market Poised for Robust Growth, Fueled by Health-Conscious Trends and Rising Veganism.

According to a new report published by Allied Market Research, titled, "Peanut Milk Market by Nature, Packaging Type, Application and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030,"

The global peanut milk market size was valued at $268.6 million in 2020, and is expected to garner $664.2 million by 2030, registering a CAGR of 9.5% from 2021 to 2030.

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"The peanut milk market is experiencing a surge in demand driven by health benefits, fitness concerns, and the growing popularity of plant-based alternatives. Despite challenges, such as raw material costs, the market is expected to flourish, presenting lucrative opportunities for players."

In-Depth Description:
The global peanut milk market is witnessing a paradigm shift as consumers increasingly turn to plant-based beverages, seeking alternatives to traditional dairy products. These plant-based offerings, derived from grains, seeds, and nuts, serve as a boon for those with dairy allergies or adhering to a vegan lifestyle. The market spans a variety of products, including non-dairy milk, ice cream, cheese, yogurts, juices, energy drinks, and soft drinks.

Driving Factors:

Health Benefits: Plant-based milk products are gaining traction due to their high micro and macronutrient content, coupled with lower fat and cholesterol levels.

Fitness Concerns: The rise in global fitness awareness is contributing to the market's growth, as consumers seek healthier alternatives.

Lactose Intolerance: An increase in the number of lactose-intolerant individuals fuels the demand for dairy alternatives.

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Vegan Trend: The growing trend of veganism and a surge in disposable income contribute to the expanding market.

Challenges:
Cost of Raw Materials: Fluctuations in raw material costs, driven by unpredictable weather conditions, pose challenges to market growth.
Production Costs: High production costs are anticipated to hinder the market's expansion during the forecast period.

Opportunities:
Demand for Alternatives: Increasing consumer awareness and the continuous introduction of new flavors and varieties present opportunities for market growth.
Digitization Trends: The internet, digitization, and social media platforms are expected to play a pivotal role in shaping the future of the global peanut milk market.

Global Economic Landscape:
The global per capita income has witnessed significant growth in recent years, particularly in emerging economies, indicating a positive economic backdrop for the peanut milk market.

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Market Segmentation:
The peanut milk market is segmented based on nature, packaging type, application, distribution channel, and region. Key segments include organic and conventional nature, bottles and aseptic cartons for packaging, and applications spanning food processing, bakery & confectionery, beverages, proteins and supplements, among others. Distribution channels include supermarkets/hypermarkets, convenience stores, specialty stores, and more.

Regional Dynamics:
North America: Dominated the peanut milk market in 2020 and is projected to maintain its lead, driven by high purchasing capacity and consumer health awareness.
Asia-Pacific: Expected to witness the highest CAGR, reflecting the rising adoption of veganism among consumers.

Key Players:
Major players in the global peanut milk market include Elmhurst Milked Direct, LLC, Good Karma Foods, Inc., Miruku, Nest & Glow, and Yinlu Foods Group. These industry players are employing diverse strategies to expand market share and increase profitability.

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The peanut milk market, propelled by health consciousness and changing dietary preferences, is set for substantial growth. Despite challenges, market players are geared towards innovation, introducing new flavors, and leveraging digital trends to cater to a diverse and expanding consumer base. The future of the peanut milk market looks promising, with a blend of challenges and opportunities driving its trajectory.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.