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Almond Milk Market To Experience An Impressive Growth By 2024

iCrowdNewswire   Jan 12, 2021  5:15 AM ET

Market Insight

Global Almond Milk Market is plant milk and a substitute for animal-based milk products. It is derived from almond and is lactose and casein free and rich in several healthy nutrients. It is a low-calorie beverage for which it is gaining momentum among a large number of consumers. Commercial almond milk is available in various flavors and is usually enriched with vitamins, minerals, or proteins by the manufacturers. Almond Milk market is expected to grow at the CAGR of 15.19%. Almond milk is a substitute of the animal based traditional milk products. Almond milk is derived from the plant based sources and is lactose and casein free. Almond milk comes in various types sweetened, unsweetened, plain, and flavored, moreover it is usually enriched with vitamins.

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Major Key Players

Some of the key players profiled in the Global Almond Milk Market are Hain Celestial Group (U.S.), WHITEWAVE Foods (France), Blue Diamond Growers (U.S.), DAIYA Foods Inc. (Canada), SUNOPTA Inc. (Canada), Galaxy Nutritional Foods, Inc. (U.S.) and Tofutti Brands Inc. (U.S.)

The market players have increased their level of investment in research to identify right formulation and to improve product functionality in order to capture lion’s share and create brand recognition in Almond Milk market. Manufacturers indulge in maintaining transparency and allow food traceability in order to manage and mitigate risk and lowering the impact of recalls and lowering liability costs.  The global Almond Milk market is segmented on the basis of application, formulations, distribution channel and regions of Almond Milk.

Industry Segments

On the basis of application, global Almond Milk market has been segmented into food & beverages. Beverages segment is projected to account maximum market proportion throughout the forecast period. However, food segment is estimated to grow at a fast pace during the review period of 2017-2024. On the basis of formulations, global Almond Milk market has been segmented into plain & flavored.

Regional Analysis

Almond Milk Market is segmented into Europe, Asia Pacific, North America and Rest of the world. Among these, Asia Pacific is projected to retain its dominance throughout the forecast period. Asia Pacific is estimated to reach to USD 2.16 Bn by the end of 2024. The region is projected to grow at a substantial growth of 15.4% during the review period of 2017-2024.

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