Enjoy complimentary customisation on priority with our Enterprise License!
Technavio’s market research analyst predicts the global almond milk market to grow at a CAGR of more than 15% between 2016 and 2020. The new-age consumers, especially millennials, are demanding high-quality, healthy, premium-brand dairy products, which has propelled the almond milk manufacturers to come up with several new premium products to meet the customer demands. Some manufacturers are re-inventing their products by offering premium almond milk with a unique creamy taste that is produced using artisanal practices. Several retailers are coming up with super-premium almond milk for consumers seeking premium and health beverage products. Moreover, the health benefits associated with dairy-alternative milk continues to be the key selling proposition with about 90% of the dairy-alternative drinks being launched globally in 2015.
Consumers are shifting towards organic variants of almond milk owing to the growing health consciousness. The organic almond milk is prepared without any thickeners or additives for the creamy texture. Organic almond milk is expensive compared to other non-dairy alternatives as the organic almonds used for making such milk, are comparatively high-priced. Moreover, over 10% organic activated almonds are used in the preparation of almond milk. For instance, Nutriops, a premium organic almond milk manufacturer has come up with several organic milk products like EcoMil Almond milk sugar-free Bio 1 L, EcoMil Almond milk sugar-free calcium Bio 1 L, EcoMil Almond milk sugar-free protein Bio 1 L.
Characterized by high competition, vendors in the global almond milk market compete in terms of price, quality, product differentiation, distribution, and promotion. The established players in the market have huge manufacturing facilities and a vast geographic presence across the globe. It is necessary for the vendors to continuously innovate in terms of blending, flavor, and taste to respond to customers' evolving taste preference and to increase their market presence globally.
Leading vendors in the market are -
Other prominent vendors in the almond milk market include Freedom Foods, Hain Celestial Group, Hiland Dairy Foods, Nutriops, Pacific Foods, Pureharvest, Sanitarium Health and Wellbeing, SunOpta, and The Bridge.
The demand for flavored almond milk will rise significantly during the forecast period owing to the growing demand for tasty, nutritious, blended, and lactose-free milk among the millennials worldwide. Flavored almond milk is highly preferred by children and the rising vegan and vegetarian populations globally. Consumers in North America and Europe particularly prefer flavored almond milk, which is not only lactose-free but also gluten-free and suitable for vegan and vegetarian consumers. For instance, Pacific Foods offers various almond milk products such as Organic Unsweetened Almond Vanilla, Organic Almond Chocolate Single Serve 4 Pack, and Organic Almond Vanilla Single Serve 4 Pack in these regions, owing to the demand from health-conscious consumers.
North America is the largest revenue contributing region in the market and will continue its dominance throughout the forecast period. Much of the region’s growth comes from the consumer preference for better-for-you food and beverage products owing to the rise in the number of people suffering from lactose intolerances. The growing instances of lactose intolerances have resulted in the demand for dairy-alternative beverages like almond milk, which is fuelling the growth of the almond milk market in the region. With the growing focus on gluten-free variants of almond milk, the market in North America will grow further in the coming years.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Demographic and economic profile: World
PART 06: Market landscape
PART 07: Market segmentation by product type
PART 08: Geographical segmentation
PART 09: Market segmentation by distribution channel
PART 10: Key leading countries
PART 11: Market drivers
PART 12: Impact of drivers
PART 13: Market challenges
PART 14: Impact of drivers and challenges
PART 15: Market trends
PART 16: Competitor analysis
PART 17: Appendix
PART 18: Explore Technavio
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.