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The walnut milk market size is estimated to grow by USD 1.15 billion at a CAGR of 14.76% between 2023 and 2028. In recent times, there has been a significant increase in the number of individuals experiencing lactose intolerance and allergies to soy, hazelnut, and almond milk. Simultaneously, there is a growing awareness and interest in the health benefits associated with walnut milk. Walnut milk, derived from soaking and blending walnuts with water, offers numerous advantages. It is rich in healthy omega-3 fatty acids, antioxidants, and protein, making it a popular choice among health-conscious consumers. Furthermore, the increasing preference for vegan diets, driven by ethical and environmental concerns, has fueled the demand for plant-based milk alternatives like walnut milk. This trend is expected to continue, as more people seek out dairy-free and allergy-friendly options for their daily consumption.
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The market is experiencing significant growth due to the increasing preference for a healthy lifestyle and the rise in lactose intolerance and allergies. This plant-based milk substitute, rich in protein and essential fatty acids, caters to high-protein diets such as Keto, making it a popular choice for adults and children. The market offers various options, including Original, Unsweetened, and flavored versions like Chocolate and Vanilla. Walnut milk's creamy texture and diverse flavor profile make it an excellent addition to the kitchen, particularly in smoothies. In the personal care sector, it is used in anti-aging products due to its high calcium and vitamin D content. The market is expanding as more consumers seek dairy product alternatives. The market for plant-based milk substitutes is expected to continue its growth trajectory, driven by the health benefits and versatility of walnut milk. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising cases of lactose intolerance and allergies associated with soy, hazelnut, and almond milk is notably driving market growth. The market is experiencing significant growth due to the increasing number of lactose intolerant adults and children in European countries such as Italy, Germany, Spain, Turkey, Poland, France, and the UK. This population segment is seeking plant-based milk substitutes that are gentle on their digestive system and do not trigger symptoms associated with lactose intolerance, including bloating, cramps, diarrhea, and nausea. Walnut Milk offers numerous health benefits, including a rich source of essential fatty acids and protein, making it an ideal choice for individuals following stress reduction diets or those suffering from chronic diseases.
Furthermore, its nutty flavor and creamy texture make it a popular ingredient in various applications, including smoothies, baking, cooking, coffee, and plant-based dairy substitutes. Health-conscious consumers are increasingly turning to plant-based milk alternatives for their nutritional profile, which includes calcium, vitamin D, and various vitamins and minerals. Walnut Milk's eco-friendly packaging and production process aligns with the growing trend towards environmental sustainability. The personal care industry is also leveraging the benefits of Walnut Milk, using it as a base for various cosmetic and skincare products. With its ability to provide a creamy texture and rich flavor profile, they are becoming a popular choice for various applications, from lattes and baked goods to creamers and sugar content reducers. The increasing awareness of animal welfare and the ethical implications of consuming dairy products is further fueling the demand for plant-based milk substitutes like Walnut Milk. With its nutrient-dense profile and ability to cater to the specific dietary needs of lactose intolerant individuals, Walnut Milk is poised to become a staple in modern kitchens and households. Thus, such factors are driving the growth of the market during the forecast period.
Growing demand for sugar-free and organic walnut milk is the key trend in the market. The market has gained significant traction, particularly among health-conscious consumers, due to the increasing trend of plant-based diets and the rising concern for obesity and chronic diseases. Pure walnut milk, derived solely from walnuts, and mixed walnut milk, which may contain additional ingredients, cater to various consumer preferences. Adults and children alike appreciate the nutrient-rich profile of walnut milk, which includes essential fatty acids, protein, and vitamins and minerals. The digestive and immunity systems benefit from the regular consumption of walnut milk, making it a popular choice for individuals following stress reduction diets. In the context of obesity, walnut milk serves as a plant-based milk substitute for those with lactose intolerance or those seeking to reduce their sugar intake.
Furthermore, walnut milk's versatility extends beyond beverages, as it is used in smoothies, baking, cooking, coffee, and plant-based dairy substitutes. Its creamy texture and subtle nuttiness make it an excellent addition to lattes, baked goods, creamers, and other culinary applications. As consumers become more conscious of their health and the environment, the demand for sugar-free walnut milk continues to grow. This trend is expected to persist during the forecast period, as more vendors introduce eco-friendly packaging and cater to the nutritional needs of various demographics. The nutritional profile of walnut milk includes calcium, vitamin D, and a flavor profile that ranges from subtle to rich and robust, depending on the specific formulation. With its numerous health benefits and diverse applications, walnut milk is poised to remain a popular choice in the personal care industry and beyond. Thus, such trends will shape the growth of the market during the forecast period.
Availability of substitutes is the major challenge that affects the growth of the market. The market faces competition from an array of plant-based milk substitutes, including functional beverages, dairy products, and alternatives like almond and soy milk. In today's health-conscious society, there is a growing preference for adult and children's beverages enriched with essential nutrients such as protein, calcium, vitamin D, vitamin A, vitamin B12, potassium, phosphorus, riboflavin, and niacin. These nutrients support the digestive and immunity systems, aid in weight management, promote hair growth, and help combat chronic diseases. The Plant-based milk substitute sector's expansion is driven by the increasing demand for plant-based dairy substitutes in the personal care industry, catering to the lactose intolerant population and those following stress reduction diets.
Moreover, walnut Milk's nutritional profile, including healthy fatty acids, protein, and a rich flavor profile, makes it a popular choice for use in smoothies, baking, cooking, coffee, and as creamers. Its creamy texture and nuttiness add depth to lattes and enhance the taste of baked goods. However, the growing popularity of plant-based milk substitutes poses a threat to the growth of the market during the forecast period. Consumers are increasingly drawn to the environmental sustainability and ethical considerations of plant-based diets and animal welfare concerns. Additionally, the availability of eco-friendly packaging options for plant-based milk substitutes further strengthens their appeal. Despite this competition, Walnut Milk's unique nutritional profile and versatility continue to make it a valuable addition to kitchens around the world. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Borges International Group SLU - The company offers walnut milk products such as Borges nut drink.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the offline segment will be significant during the forecast period. An increase in the number of hypermarkets, supermarkets, and other convenience stores drives the sales of walnut milk through this channel.
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The offline segment showed a gradual increase in the market share of USD 577.20 million in 2018. A large amount of shelf space and storage areas in these stores enables them to accommodate different varieties of walnut milk offered by regional and international vendors such as Alpine Pacific Nut Co. Inc., Grower Direct Nut Co. Inc., Guerra Nut Shelling Co. Inc., Poindexter Nut Company, and Andersen Shelling Inc., thereby allowing consumers to choose products based on their preferred flavors and brands.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Organic walnut milk has emerged as a popular alternative to dairy products, aligning with the trend towards healthy lifestyles and catering to those with lactose intolerance or allergies. This plant-based beverage is rich in protein, making it an ideal choice for high-protein diets, including the Keto diet. Walnut milk is also free from common allergens, such as nuts, unlike some other plant-based milks, reducing the risk of rashes, dermatitis, breathing issues, and itching. The personal care sector has embraced walnut milk as an ingredient in anti-aging products due to its nutritious content. In contrast, animal-based products, such as Greek yogurt and ultra-filtered milk, may raise environmental concerns and health issues for some consumers. Walnut milk is available on retail shelves in supermarkets and hypermarkets, as well as through digital shopping facilities, e-commerce platforms, and online channels. Choose from a variety of flavors, including Chocolate, Vanilla, and Unsweetened, to suit your taste preferences. While some may add sugar or additives, opt for unsweetened or naturally sweetened versions to maintain a healthy lifestyle. Walnut milk is a versatile and delicious addition to your daily routine, providing the nutrients you need without compromising on taste or ethics.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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The market is experiencing significant growth due to the increasing demand for lactose-free and plant-based products. As veganism and health and wellness issues gain prominence, elderly populations and health-conscious consumers are turning to functional and healthful beverages like walnut oil. Local walnut milk producers and private entities are emphasizing sustainable sourcing methods and eco-friendly operations to meet this demand.
Walnut oil, rich in plant-based protein and beneficial for the immunity system, is also marketed for its potential to address hair loss. Its flavour profile makes it a popular ingredient in various food and beverage products, including flavoured variants. Ethical considerations like labelling and ethical sourcing are crucial for maintaining consumer trust. Import and export tax regulations influence market dynamics, promoting eco-friendly operations and ensuring quality.
Market Scope |
|
Report Coverage |
Details |
Page number |
143 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 14.76% |
Market growth 2024-2028 |
USD 1.15 billion |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
12.55 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, China, Germany, Canada, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Borges International Group SLU, California Walnuts, Elmhurst Milked Direct LLC, Hebei Chengde Lolo Co. Ltd., Hebei Yangyuan ZhiHui Beverage Co. Ltd., Inner Mongolia Yili Industrial Group Co. Ltd., Mariani Nut Co., RITA Food and Drink Co. Ltd., Simple Foods Co. Ltd., and TH Food Chain Joint Stock Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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