Walnut Milk Market

Walnut Milk Market Outlook (2022 to 2032)

The walnut milk market is anticipated to have a moderate CAGR of 8.6% during the forecast period of 2022 to 2032. According to FMI, the market is expected to grow from USD 365.5 million in 2022 to USD 810.5 million by 2032.

According to the FMI walnut milk market analysis report, the market has experienced rapid growth in recent years due to factors like growing consumer interest in organic walnut milk and growing consumer inclination toward a healthy lifestyle.

Demand for walnut milk is increasingly popular since it is lactose-free and does not trigger allergies. Additionally, a sizable walnut milk market opportunity has been generated for the major players in the regional marketplaces as a result of the dynamic movement in consumer preferences toward packaged beverages.

Report Attribute	Details
Walnut Milk Market Value (2022)	USD 365.5 Million
Walnut Milk Market Anticipated Value (2032)	USD 810.5 Million
Walnut Milk Market Projected Growth Rate (2022 to 2032)	8.6%

What is the Historic and Future Outlook for the Walnut Milk Market?

With growing pertaining to the benefits of walnut milk protein, sales of walnut milk are growing at a modest pace. From 2017 to 2021, the global walnut milk market had a CAGR of 8.1%. The growth can be attributed to the influence of social media, which acts as a powerful channel for marketing plant-based protein. On the other hand, various high-protein diets such as the Keto diet are channeled to the massive following, which, in turn, is likely to augur well for the walnut milk market during the forecast period.

The global market for walnut milk is experiencing growth due to the fact that it is a great alternative to dairy products that contain lactose. Additionally, as customers become more aware of the health advantages, the walnut milk market size has increased in recent years.

What are the Walnut Milk Market Dynamics?

Surging Demand for Personal Care Products

The growing demand in the personal care sector is anticipated to drive the sales of walnut milk. The older generation is increasing the need for anti-aging products in nations like Japan, which is subsequently increasing the market share for walnut milk in the area.

The demand for walnut milk as a component in the production of cosmetics and personal care products is anticipated to rise due to a number of additional advantages associated with the protein found in walnut milk.

Well Known Allergies

Almond and walnut milk, however, is a well-known allergen. These allergies, which include rashes, dermatitis, breathing issues, and itching and can range in severity from moderate to severe, could partially obstruct significant walnut milk market trends and opportunities.

Weight Management

While consumers are shifting toward the idea that plant-based products are healthier than animal-based products for personal health, as well as the sustainability associated with them, the elderly population has increased worries about health and weight control, leading to higher sales of walnut milk.

Why does the Distribution Channel Affect the Walnut Milk Market Significantly?

Due to its improved presentation, extensive selection on the retail shelves, and convenient location for customers, hypermarkets and supermarkets are predicted to have significant growth in sales of walnut milk among the various distribution channels.

The growth of digital shopping facilities has recently given e-commerce platforms and online channels a boost. Additionally, this distribution channel is going to positively impact the demand for walnut milk.

Europe Retains its Attractiveness as a Key Walnut Milk Market

Europe is the fastest-growing region in the walnut market and holds a share of 22.6% in 2022. Additionally, China is also a major producer and consumer of walnut milk products due to the presence of various players in the market.

Local walnut milk producers have been encouraged to build a market presence in order to increase earnings by the rising demand for plant-based milk, particularly walnut milk, due to its higher nutritious content. Additionally, local players are attempting to quickly transition into walnut milk brands by securing funding from both government and private entities.

What is the Walnut Milk Market Outlook in the North America?

With a market share of 24.2% in 2022, North America is projected to generate the majority of revenues. The USA market for walnut milk is anticipated to expand at a CAGR of 6.5% from 2022 to 2032. Since it is both the product's largest user and a significant exporter, demand for walnut milk is anticipated to be strong over the projected period.

How Start-ups are Cashing in on the Biggest Opportunities in the Walnut Milk Market?

According to the FMI report, consumers have started to grasp the more esoteric parts of dairy, such as cruelty to cows, environmental concerns, and health issues, as a result of changing dietary trends around the world and the rise of veganism. This opens up the market for walnut milk to new rivals.

Goodness is a nut milk firm with a penchant for puns involving nuts. Startup offered to replace standard nut milk, which is made of only 2% nuts and 98% of water, sugar, and additives. The company aims to offer a simple homemade alternative.

Walnut milk gives high projects to the new participants in the sectors, especially when combined with other dairy innovations like Greek yogurt and ultra-filtered milk. Some of the other startups succeeding in the walnut milk sector include Alt Co. and Goodmylk.

How are Established Key Players Flourishing in the Walnut Milk Market?

Due to their vast product portfolios and constant industry innovation, the leading players in this market hold a substantial share of the market. The companies in this market have been noted to concentrate on product launches, partnerships, expansion, mergers, and acquisitions as a growth strategy to build their position in the regional market.

• Yangyuan, a Chinese company, has become a well-known walnut milk brand in the Asia Pacific and other regions after receiving finance of close to USD 630 million for its product.
• The soluble cashew nut milk powder with a two-year shelf life was introduced by the Brazilian start-up Benni Alimentos in June 2019.

Key Players

• Alpine Pacific Nut Co
• Grower Direct Nut Co. Inc.
• Poindexter Nut Company
• Andersen Shelling Inc.
• Webster Limited
• Mariani Nut Company Inc.
• Haleakala Walnut Shelling Inc.
• Kashmir Walnut Group

Report of Scope

Report Attribute	Details
Growth Rate	CAGR of 8.6% from 2022 to 2032
Base Year for Estimation	2022
Historical Data	2016 to 2021
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Million and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Flavor, Distribution Channel, Region
Regions Covered	North America; Latin America; Western Europe; Eastern Europe; The Asia Pacific excluding Japan; Japan The Middle East and Africa
Key Countries Profiled	The USA, Canada, Brazil, Argentina, Germany, The United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, GCC Countries, South Africa
Key Companies Profiled	Alpine Pacific Nut Co; Grower Direct Nut Co. Inc.; Poindexter Nut Company; Andersen Shelling Inc.; Webster Limited; Mariani Nut Company Inc.; Haleakala Walnut Shelling Inc.; Kashmir Walnut Group
Customization	Available Upon Request

Key segments

By Flavor:

• Original
• Chocolate
• Vanilla
• Unsweetened
• Others

By Distribution Channel:

• Supermarkets/Hypermarkets
• Specialty Stores
• Convenience Stores
• Online
• Others

By Region:

• North America
• Latin America
• Asia Pacific
• Middle East and Africa
• Europe

Frequently Asked Questions

What is the projected CAGR for the Walnut Milk Market?

The walnut milk market is projected to have a CAGR of 8.6% through 2032.

Which is the Leading Region in the Walnut Milk Market?

North America is leading in the walnut milk market, with a share of 24.2% in 2022.

What is the Future Outlook of the Walnut Milk Market?

The walnut milk market is expected to reach USD 810.5 million by 2032.