Global Almond Milk Market 2016-2020

Overview of the global almond milk market

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.

Competitive landscape and key vendors

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 -

• Blue Diamond Growers
• Califia Farms
• Earth's Own Food
• WhiteWave Foods

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.

Segmentation by product type and analysis of the almond milk market

• Plain
• Flavoured

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.

Geographical segmentation and analysis of the almond milk market

• APAC
• Europe
• North America
• ROW

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.

Key questions answered in the report include

• What will the almond milk market size and growth rate be in 2020?
• What are the key factors driving the global almond milk market?
• What are the key market trends impacting the growth of the global almond milk market?
• What are the challenges to market growth?
• Who are the key vendors in the global almond milk market?
• What are the market opportunities and threats faced by the vendors in the global almond milk market?
• Trending factors influencing the market shares of APAC, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global almond milk market?