Veganism is Significantly Boosting Almond Milk as an Alternative for Dairy Products
Increasing number of people suffering from lactose intolerance and hypercholesterolemia is boosting the demand for almond milk. Also, vegans who seek an alternative for animal dairy products, contributing to the growth of almond milk market. According to NIH (National Institutes of Health), It is estimated that about 68 % of the world’s population has lactose malabsorption. As a result, to fulfil the essential nutritional requirements for health, consumers are more likely to adopt alternative for lactose products. Almond milk has a wide range of applications, including the production of cream liquor, chocolates, baked goods, other beverages and frozen desserts. The versatility of the almond milk has significantly driven the market expansion, it serves as a crucial ingredient in the frozen desserts to enhance the taste. Health-conscious consumers are fuelling the almond milk market due to the rising awareness about its nutritional values and increasing preference towards organic variants produced without additives or thickeners, also increased availability of almond milk offers convenience and enables consumers to purchase easily. Additionally, companies are focused towards enhancing and maintaining the actual nutritional value by adding up flavours into the almond milk, which is raising consumer interest in adopting almond milk and fuelling overall market growth.
Growing Consumer Preference Opens Avenues for Companies to Introduce Superior Almond Milk
Rising health concerns, lactose tolerance, and dairy allergies are shifting consumers towards healthier plant-based-milk beverage options more frequently. Addressing nutritional advantages of almond milk including weight loss, antioxidant rich, lactose-free status and the ability to strengthen bones, consumers are preferring almond milk as a good alternative for dairy products. Adoption of veganism is increasing and it has gained prominence particularly among developed countries. As a result, this creates opportunity for expansion of market through plant-based alternatives like almond milk. Environmentally conscious customers choose products with eco-friendly packaging, such as recyclable or biodegradable cartons and bottles to reduce their carbon footprint. This has led to innovation in sustainable packaging solutions, showcasing ethical production practices, eco-friendly packaging, and sustainable sourcing procedures to attract environmentally conscious consumers. To expand the almond milk market, manufacturers have the opportunity to introduce various flavours, fortified options, and organic variants, while advancing in processing techniques may enhance taste, texture, and nutritional value of almond milk.
Recent Trends in the Almond Milk Industry:
- Evolving vegan diets and alternatives for dairy products.
- Companies are focusing on sustainable farming practices and eco-friendly packaging.
- Innovation in almond milk market, as companies introduce new flavours, fortified options.
- Convenience and ready-to-drink almond milk.
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High Almond Cost and Less Protein Content May Influence Consumers Preference Away from Almond Milk
Rising cost of almonds and lack of awareness about the benefits of almond milk are the key factors restraining the revenue growth in the global almond milk market. Compared to dairy products and other plant-based substitutes like soy milk, oat milk, etc. almond milk is quite expensive, resulting in less adoption of almond milk by consumers with price-sensitivity. Also, almond milk has less protein content than dairy products and other plant-based alternatives, which may raise nutritional concerns among some customers about the nutritional value of almond milk. Thus, people who prioritize their protein consumption are less likely to adopt almond milk as a substitute. Apart from this, different varieties of almond can have variations in nutrient content, which affects the base nutritional values of almond milk. Fortifying process can lead to the loss of certain heat-sensitive nutrients like vitamin B and C. Also, filtering almond pulp to create almond milk can remove fibre and other naturally occurring micronutrients, requiring them to be added back through fortification. Overall, these problems limit the expansion of the almond milk market. To address these problems, manufacturers must balance between keeping the essential nutritional properties of almond milk before and after processing, in order to reach a larger market and meet consumer demands.
Introducing New Flavours and Fortifying Options Increase Consumers Preference for Opting Almond Milk
Companies are introducing new flavours of almond milk and fortified options to enhance the nutritional values as well to boost the sales. For instance, Danone North America, on 26 January 2022 had introduced a new addition to its almond milk portfolio named Silk Extra Creamy Almond milk, featuring a blend of three types of almonds with various varieties including dark chocolate almond milk, unsweet extra creamy almond milk, less sugar vanilla almond milk and many more. Another advancement in almond milk market was by Califia Farms which had launched the Unsweetened Almond Barista Blend, for all espresso creations with zero sugar also the almond milk contains calcium and vitamin D in April 2022. As a result, to remain competitive in the almond milk market manufacturers are focusing on introducing new nutritional benefits as per consumer demands. Also, companies are following sustainability practices, this includes sourcing almonds from responsible and ethical farms, opting eco-friendly packaging and reducing water usage during the production of almond milk. Moreover, brands that are demonstrating their commitment to sustainability and transparency of operations are gaining a competitive edge in the market.
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Increasing Lactose Malabsorption is Shifting Consumers Towards Almond Milk Worldwide
Almond milk is already popular in North America and Europe, its demand is growing in other regions as well, including Asia-Pacific and Latin America. According to NIH (National Institutes of Health) lactose malabsorption is common in some parts of the world, in Africa and Asia most of the people have lactose malabsorption- a reduced ability to digest lactose. North America is witnessing an increased demand for almond milk as about 36% of people have malabsorption. Such situations are shifting consumers towards opting almond milk and contributing to the growth of market. Despite traditional dairy consumption in Middle East, almond milk market is expected to grow with rising health awareness and dietary shifts. Also, Africa’s almond milk market is expected to witness growth, driven by urbanization and increasing health conscious consumer base.
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The report provides a detailed overview of the almond milk market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for almond milk market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the almond milk market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the almond milk market. Some key country and region included in the almond milk market report as follows:
| Regions | Countries |
|---|---|
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Central America Countries, Caribbean Countries, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Poland, Netherlands, Switzerland, Belgium, Sweden, Austria, Norway, Denmark, Czech Republic, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Singapore, Malaysia, Philippines, Vietnam, Thailand, Bangladesh, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Nigeria, Egypt, Turkey, Morocco, Ethiopia, Algeria, Israel, Iran, Iraq, Kenya, Rest of MEA |
Almond Milk Market Research Report Covers In-depth Analysis on:
- Almond milk market detailed segments and segment-wise market breakdown
- Almond milk market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in almond milk industry)
- Current, historical and forthcoming 10 years market valuation in terms of almond milk market size (US$ Mn), volume (Tons), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Almond milk market demand analysis
- Almond milk market pricing analysis over forecast period (by key segment and by region)
- Almond milk market regional insights with region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in almond milk market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in almond milk market
- Almond milk market sales and distribution strategies
- A comprehensive overview of parent market
- A detailed viewpoint on almond milk market forecast by countries
- Mergers and acquisitions in almond milk market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What are the key drivers of the almond milk market?
The key drivers include rising demand for plant-based alternatives, increasing lactose intolerance awareness and growing consumer preference for healthier, low-calorie beverages.
What are the key trends shaping the almond milk market?
Key trends include the rise of flavored almond milk, increased demand for organic products and innovations in packaging to improve shelf life.
What are the challenges faced by almond milk manufacturers?
Challenges include fluctuating almond prices, competition from other plant-based milk alternatives and sustainability concerns related to water consumption in almond farming.
