The global almond milk market size is expected to reach USD
13.3 billion by 2025, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 14.3% over the forecast period. Changing consumer
lifestyle and rising health awareness about diabetes and obesity are the key
factors driving the market.
Almond milk is a plant-based product, which
serves as an alternative to animal milk. Consumers are shifting their focus
towards adopting such dairy alternatives due to growing vegan population
globally. This product has emerged as a booming segment in the market apart
from soy milk. It is used as a main ingredient for preparing food such as
frozen desserts and beverages like milkshakes.
Increasing use of organic ingredients such as
almond milk in personal care products is boosting the growth of the market.
This plant based product is rich in fatty acids such as omega-3 and also a
great source of vitamin E, which is crucial in keeping the skin hydrated and
fed. Companies such as Bodyshop, P&G, and Unilever use this liquid as their
main ingredient to formulate hair care and skin care products for their global
consumers.
Inflated demand for almond milk, particularly
in the beverage segment, can be attributed to rising cases of lactose
intolerance among the consumers of Europe, thus driving the market in the
region. For instance, companies like Oatly and Califia Farms have introduced
flavored almond beverage as a substitute for dairy beverages, which is
soy-free, gluten free, vegan, and does not curdle when mixed with tea. Along
with its major applications, this product is also used in the bakery, brewery,
and chocolate industries. For instance, Baileys launched Almande Irish Cream
Liqueur for its vegan consumers made from this plant milk.
Asia Pacific occupies the largest share in the
global market due to high demand from the lactose intolerant population of
China and other countries in East Asia. The market in Asia Pacific is
anticipated to expand at a CAGR of 15.0% from 2019 to 2025 due to rising
disposable income and growing consumer preferences for the product.
For full research report on Almond Milk
Market visit here:
https://www.grandviewresearch.com/industry-analysis/almond-milk-market
Further key
findings from the study suggest:
- Asia Pacific dominated the global market in
2018 and constituted 30.8% share of the overall revenue. This trend is
projected to continue over the next few years. The market in Europe is
projected to generate a revenue of USD 2.8 billion by 2025
- Other applications majorly comprise bakery,
brewery, and chocolate and are projected to exhibit constant growth in the
next few years
- Adoption and consumption of almond milk as a
dairy substitute and dietary supplement is increasing due to surge in the
number of obese people in countries like U.S. and South Africa
- The industry is highly competitive due to
presence of the main players including Daiya Foods Inc.; Hain Celestial
Group; Whitewave Foods; Sunopta Inc.; Blue Diamond Growers; Galaxy
Nutritional Foods, Inc.; and Tofutti Brands
Inc.
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/almond-milk-market/request/rs1
Grand
View Research has segmented the global almond milk market on the basis of
application, distribution channel, and region:
Almond Milk
Application Outlook (Revenue, USD Billion, 2015 - 2025)
- Beverages
- Frozen Desserts
- Personal Care
- Others
Almond Milk
Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
- Hypermarkets &
Supermarkets
- Convenience Stores
- Online
Almond Milk
Regional Outlook (Revenue, USD Billion, 2015 - 2025)
- North America
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- India
- China
- Central & South
America
- Middle East &
Africa
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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