In 2023, the global almond drink market was valued at USD 4,719.5 million. The market is expected to reach approximately USD 7,751.1 million by 2033, with a growing CAGR of 5.1% from 2023 to 2033. These two crucial factors will boost the demand for almond drinks in the future.
Around the world, almond drinks are mostly consumed as milk substitutes which are widely popular amongst the health-conscious population. Almond milk is plant-based milk extracted from almonds, which is usually creamy in texture and nutty in flavor. The global almond drink market is also anticipated to boom during the forecast period owing to increasing application in the food and beverage industry and expanding patient populations suffering from lactose deficiency or intolerance.
Almond drinks are hugely popular and broadly accepted as a substitute for dairy substitutes because they offer several health benefits like stronger bones, aid in digestion, helps with weight management, and are a lactose-free alternative to dairy milk.
The global almond drink market is one of the most swiftly booming non-dairy and vegan milk sectors. The growing awareness of almond milk’s health benefits, along with increasing obesity in developed countries such as the USA, is accountable for the growth of the market.
| Report Attribute | Details |
|---|---|
| Almond Drink Market Value (2023) | USD 4,719.5 million |
| Almond Drink Market Anticipated Value (2033) | USD 7,751.1 million |
| Almond Drink Projected Growth Rate (2023 to 2033) | 5.1% |
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Lactose Intolerance
A growing number of populations who are lactose intolerant is one of the crucial factors responsible for the growth of the almond drinks market across the globe. These consumers are often looking for substitutes for dairy in their diets. Almond milk is the most preferred substitute since it is vegan, lactose-free, and high in plant protein. Therefore, the consumption of almond drinks is rising amongst this population.
Improving Taste
Lactose intolerant populations opt for almond milk mostly because of its nutty taste and because it’s a healthy option. Almond milk and other almond drinks also benefit those with hypercholesterolemia (very high levels of low-density lipoprotein (LDL) cholesterol in their blood).
Health Benefits
Almond drinks consist of polyunsaturated fatty acids which are effective in lowering cholesterol levels in the bloodstream and decreasing inflammation, therefore promoting the revenue growth of the almond milk market. Almond drinks enhance health and maintain balance in body weight which is projected to drive the growth of the almond drink market during the forecast period.
Growing Veganism
Recently, there has been an increase in the vegan population who do not consume animal products that consist of milk and eggs. Growing product acceptance by the vegan population is predicted to drive the almond drink market over the forecast period. Increasing concerns pertaining to animal welfare are growing amongst the mass population towards veganism.
Environmental Concerns
Besides, the prospective almond milk health benefits coupled with environmental protection are presently responsible for the growth of the market. The growing acceptance of veganism by consumers has been witnessed in developed countries and slowly but gradually the suburbs and cities of emerging countries too are catching up.
Consumers' Demand for Transparency of Products
Globally, there is a greater awareness among consumers who prefer eating clean. Such consumers prefer detailed information related to the sources of raw materials and the overall processing method of final products. Demand for detailed information on products has pushed manufacturers to deliver to the most satisfactory level.
The North American almond drink market is accountable for 32.5% market share globally.
This region's market is predicted to grow steadily during the forecast period due to the growing demand for ready-to-drink beverages and frozen desert. Consumers prefer healthy snacking over junk food, which will further impact the market's growth. Moreover, enhanced lifestyles and adopting healthy living with cleaner eating habits are said to promote the revenue growth of the North American market.
The health-conscious population of North America is more aware of the health benefits of consuming vegan, non-dairy, and non-GMO beverages. The growing adoption of almond drinks in the everyday life of consumers due to booming environmental concerns is anticipated to drive the regional market further.
The Europe region accounts for 28.4% market share in the global almond drinks market.
This region is witnessing considerable growth owing to the increasing popularity of flexitarian and vegan diets. Also, consumers' growing demand for functional beverages is likely to encourage the demand for almond drinks in Europe.
Mass awareness about veganism in European countries has led to even the younger population's option for vegan diets. Almond milk is the most popular vegan alternative to dairy milk and has been widely consumed by the youth of European countries.
Principal Consultant
Key Players in the Market
Fuerst Day Lawson
Fuerst Day Lawson is a company which offers a wide spectrum of products, along with almond milk. It is especially well known for its flavour in lattes and other forms of coffee beverages. It has markets in Europe, the Middle East, Asia, Australia, North America, Africa, and Central/South America.
The Pressery
The Pressery provides lactose-free, creamy, and delicious almond milk, among other dairy free drinks for vegan consumers. Their products are nutritious, high quality, and plant-based.
Recent Developments by the Existing Almond Drink Market Players
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The market in 2023 is valued at USD 4,719.5 million.
Based on product type, the phage probiotics segment is highly preferred.
The North American market is accountable for 32.5% market share globally.
The industry will reach USD 7,751.1 million by 2033.
Europe accounts for 28.4% market share in the global market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Form 5.1. Sweetened 5.2. Unsweetened 5.3. Flavored 5.3.1. Chocolate 5.3.2. Vanilla 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Food & Beverages 6.2. Cosmetics 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Hypermarkets/Supermarkets 7.2. Department & Grocery Stores 7.3. Online Retailers 7.4. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Fuerst Day Lawson 18.2. The Pressery 18.3. White Wave Foods 18.4. Hain Celestial Group 18.5. The Luz Almond Company Pty Ltd 18.6. Nutriops 18.7. Hiland Dairy Foods 18.8. Califia Farms 18.9. Daiya Foods Inc. 18.10. Pacific Foods of Oregon LLC 18.11. Alpro 18.12. Provamel 18.13. Malk Organics 18.14. Dream 18.15. Earth's Own Food Company Inc. 18.16. Natura Foods 18.17. Rude Health 18.18. Blue Diamond Growers 19. Assumptions & Acronyms Used 20. Research Methodology
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Almond Drink Market
