Rising demand for the dairy-based alternatives, and higher preference for the cereal or plant-based food & beverage products, coupled with the increasing inclination for vegan diets and work as a source of lesser calories and multivitamins, are propelling the market demand.
Market Size – USD 18.36 billion in 2019, Market Growth – CAGR of 12.8%, Market Trends – Growing consumption of the lactose-free cereal-based dairy products, vegan food practice and growth in the Cosmetics sector
The Global Nut Milk Market is projected to reach USD 48.46 billion by 2027. The market is fueled by the rising trend of consuming dairy based cereal alternatives, and growing practices of vegan diet, concerns about antibody residues, or growth hormones in animal milk. The product are often highly preferred by the patients who suffer from CMA, LI, phenylketonuria, radioiodine cancer, eczema, eyesight problem, weaker bone density, hypercholesterolemia, and allergic to dairy based products. More than 16% European consumers try avoiding dairy products for these aids and cholesterol issues. Nut Milk has been a great alternatives, and many almond based food & beverage products are being produced to support the demand chain formed by the consumers.
Additionally, growing concerns with weight management, emphasis on weight loss & maintenance, importance on the blood sugar spike control are some of the factors that have been creating an overall enforcement in the market. Beside, high calcium and multivitamins like Vitamin A, Vitamin E, Vitamin D with riboflavin, calories, the Nut Milk have been very effective on enhancing antioxidant degree, providing low sugar & calorie content, working as an efficient source of calcium, providing high bone density, digestive health & weight management.
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Key Participants include Whitewave Foods, Blue Diamond Growers, Daiya Foods Inc., Tofutti Brands Inc., SunOpta Inc., Fine Japan Co. Ltd., Hain Celestial Group, Galaxy Nutritional Foods, Inc., Nature’s Choice B.V., and Vitasoy Australia Products Pty. Ltd., among others.
Further key findings from the report suggest
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For the purpose of this report, Reports and Data have segmented into the global on the basis of type, sales channel, form, end-use verticals, and region:
Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Sales Channel Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Form Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
End-Use Verticals Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
Regional Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
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Identifying the basic business drivers, challenges, and tactics adopted:
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