The Global Almond Milk Market is projected to reach USD 19.72 billion by 2030. 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 is often highly preferred by the patients who suffer from 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. Almond Milk has been a great alternative, and many almond based food & beverage products are being produced to support the demand chain formed by the consumers.
Market Overview:
Over the last 50 years, the food business has expanded significantly to fulfil the requirements of the population and to adapt to changing lifestyles. Because it has socioeconomic and health implications, the consumption of ready-to-eat foods makes food an important problem. Food scientists and the food industry are reacting by developing strategies and technology for speedy, sensitive, reliable, and cost-effective analytical methodologies that lead to less food waste and improved nutrition, as well as better business for the food and beverage sector as a whole.
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Key Players:
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:
- The overall nutritional supplement sales for children are expected to rise during the forecast period. It was observed that Chinese and Indian parents were willing to spend relatively large amounts of money on the health of their children in relation to family income.
- A new trend emerging in the dietary supplements market is the need to use organic or sustainable ingredients. This trend is being driven by two fundamental shifts in this industry: the need to consume ‘healthier’ ingredients and consumers’ increasing concerns for sourcing ‘sustainable’ products
- Variations in the price of the upstream product are expected to influence the production cost of organic Almond. The cost of production is also an important factor which could affect the market price.
- Nutraceuticals & Baby Food sub-segment had a market share of 28.6% in 2019 due to its remarkable usage of the Almond based formulation for making end-use baby food products & nutritional additives.
- In October 2019, Blue Diamond, a US-based co-operative launched a new beverage portfolio comprising Almond extract, naming Almond Breeze Almond milk in Mexican Hot Chocolate flavor.
- In April 2018, Starbucks India introduced its almond milk line ups to its non-dairy milk roster. Due to the huge demand for the plant-based alternatives of dairy, the Seattle-based coffee house chain launched this product line up in India.
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In addition to corporate strategy, Almond Milk market throws light on different properties to curb the progress of fuel or industry. The focus is more on applicable sales strategies to increase the company’s productivity to achieve higher economic performance. It also covers research and development activities, online and offline activities, the latest product launches, and some of the competitive expansion adopted by major global companies. Research reports use effective graphical presentation techniques such as tables, charts, graphs, diagrams, and info graphics.
Market Segmentation:
For the purpose of this report, Reports and Data have segmented into the global on the basis of sales channel, form, end-use verticals, and region:
Application Insights (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)
- Frozen Desserts
- Beverages
- Personal Care
- Others
Distribution Channels Insights (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Retail
Regional Insights (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Reasons For Buying This Report:
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward-looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- PEST analysis of the market in the five major regions.
Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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