Almond Drinks Market Size, Share, Growth, and Industry Growth by Type (Plain Unsweetened Form and Plain Sweetened Form) By Application (Supermarket, Convenience Store, Online Stores and Others) Regional Forecast to 2028

REPORT OVERVIEW

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The global almond drinks market size is expected to be USD 5.6168 billion in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with almond drinks experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 8.9628 billion by 2028, exhibiting a CAGR of 8.1% during the forecast period. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Almond milk is a nutty-flavored, creamy milk that is made from almonds. Nuts are ground, then blended with water, and the pulp is strained out to create it. The addition of water to almond butter also results in its production. The milk it produces has a greater calcium content than milk from cows. It is frequently consumed in the Mediterranean region and is naturally low in lactose and cholesterol. It is also vitamin-rich.

Almond beverages are frequently used as milk substitutes and are very well-liked by the general public who are health-conscious. Almond milk is a plant-based beverage made by extracting the milk from almonds. It often has a creamy texture and a nutty flavor. The food and beverage industry's increased use of almond drinks as well as the rising number of patients with lactose intolerance or deficiency are expected to drive the growth of the worldwide almond drink market during the projected period.

Due to their numerous health advantages, such as stronger bones, improved digestion, and the ability to replace dairy milk without the addition of lactose, almond beverages are incredibly popular and widely recognized as dairy alternatives.

COVID-19 Impact: Supply Chain Disruptions and Lockdown to Hinder the Almond Milk Market

Covid badly affected the almond milk market due to supply chain disruptions and shortage in raw materials was also observed. Shortage of labor and strict protocols such as lockdowns and restrictions on movement created roadblocks, disruptions in end-use sectors of the product led to lower demand.

LATEST TRENDS

"Lactose Intolerant Population to Augment the Market"

One of the key drivers of the global expansion of the almond drink market is the increasing number of people who are lactose intolerant. In their meals, these customers frequently seek for dairy replacements. Due to its vegan status, lack of lactose, and high plant protein content, almond milk is the most often used replacement. Almond drinks are becoming more popular among this group as a result.

The market for almond milk will see a number of lucrative prospects as a result of the growing demand for organic snacks combined with the expanding need for almond milk in confectionery and bakery items. As it disrupted supply and manufacturing within the industry, the aflatoxin contamination of almond milk might potentially represent a significant threat to the market's growth rate.

Segmentation

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• By Type Analysis

By type, market is segmented into plain unsweetened form and plain sweetened form. The plain unsweetened segment will dominate the market in the coming years.

• By Application Analysis

Based on applications, the market is classified into supermarket, convenience store, online stores and others. The supermarket segment will lead the global share through 2028.

DRIVING FACTORS

"People Following Veganism to Propel the Market Demands"

Almond beverages include polyunsaturated fatty acids, which have been shown to reduce inflammation and blood cholesterol levels. This has helped the almond milk business develop in terms of sales. Almond drinks improve health and maintain a healthy body weight, which is anticipated to propel the almond drink market throughout the anticipated period of expansion.

The number of people who avoid consuming dairy and eggs from animals, known as vegans, has grown recently. Over the course of the projection period, the market for almond drinks is anticipated to grow in popularity among vegans. The general public is turning more and more toward veganism due to rising worries about animal welfare.

"Consumers Opting for Healthy Eating Habits to Boost the Market"

The potential health advantages of almond milk and environmental conservation are now driving the market's expansion. Consumers in wealthy nations have shown a rising acceptance of veganism, while suburbs and towns in emerging nations are slowly but surely catching up.

Consumers that favor eating healthy are more aware of this on a global scale. These customers demand thorough knowledge on the sources of raw materials and the general manufacturing procedure of finished goods. Manufacturers are under pressure to offer to the highest degree of satisfaction as a result of consumer demand for thorough product information.

RESTRAINING FACTORS

"High- Cost Product to Impede the Market"

The cost of almond beverages is a major barrier to growth. In general, it takes more water to grow almonds, which makes it unsustainable. Because almond almonds are expensive, milk is also, making it out of reach for most people. As a result of its low protein composition, it may cause protein shortage if eaten alone. Abdominal cramps might occur when it is consumed by people with impaired digestion. The market expansion for almond drinks may be hampered by these concerns.

REGIONAL INSIGHTS

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"North America’s Silicon Ring Market’s Share to Grow Exponentially with the Forecast Period."

A significant portion of the worldwide market share is attributable to the North American almond drink market. The market in this area is anticipated to expand gradually over the course of the forecast period as a result of the rising demand for frozen desserts and ready-to-drink drinks. The preference of consumers for nutritious snacks over junk food would further restrain industry expansion. Additionally, improved lifestyles and the adoption of healthier lifestyles and eating habits are predicted to support the expansion of the North American market's revenue.

The health advantages of drinking non-dairy, non-GMO, and vegan drinks are more known to North America's health-conscious populace. The regional market is expected to develop as a result of consumers' increasing use of almond beverages in daily life as a result of growing environmental concerns.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Fuerst Day Lawson (UK.)
• The Pressery (U.S.)
• Luz Almond (Australia)
• Alpro (Belgium)
• Provamel (UK.)
• Malk Organics (U.S.)
• Nutriops S, L (Sapin)
• Natura Foods (Canada)
• Rude Health (UK.)
• Blue Diamond Growers (U.S.)
• Lolo (U.S.)

REPORT COVERAGE

The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.