Almond Milk is a substitute of the animal based traditional milk products. Almond Milk is derived from the almond and is lactose and casein free. Almond milk comes in various types sweetened, unsweetened, plain, and flavored, and is usually improved with vitamins. It can also be prepared at home by using a blender, almonds and water.
There has been increasing incidence of lactose intolerance across the globe. People who are lactose intolerant lack enzyme (lactase) in their small intestine to break down all of the lactose consumed. Lactose intolerance encompass dairy products allergy, disaccharide deficiency, lactase deficiency or milk intolerance and the partially digested or undigested lactose leads to pain, abdominal bloating, diarrhea, skin problems, sleep disturbances, tiredness and other health problems. Lactose intolerants cannot ingest dairy products as it leads to nausea, abdominal pain, abdominal gas & flatulence, vomiting, perianal redness, acidic diarrhea, and various other health issues.
Growing concern on animal welfare, human health and the environment has led to the rising trend of veganism which has become a mainstream now. Vegan diet is considered not only a sustainable choice but also healthy. The appeal and potential of vegan diet has grown popular over the years as people avoid animal products due to ethical reasons and seek healthier and cleaner products.
All the above factors are anticipated to fuel the sales of almond milk during the forecast period
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The global almond milk market is segmented into North America, Europe, Asia Pacific and Rest of the world. Among these, Asia Pacific is projected to retain its dominance throughout the forecast period. Robust economic growth, rising urbanization, explosion of in the middle class population are the significant factors of the growth of Almond Milk in Europe region. Europe is estimated to account healthy market proportion of 20.00% by the end of 2017. This is contributed by the vegan diet is gaining acceptance in the European countries which is anticipated to fuel the growth of almond milk during the forecast period. North America region is also projected to register a healthy growth of 15.27% during the forecast period of 2017-2022.
On the basis of application, global Almond Milk market has been segmented into food & beverages. Beverages segment is projected to account maximum market proportion throughout the forecast period. However, food segment is estimated to grow at a fast pace during the review period of 2017-2022. On the basis of formulations, global Almond Milk market has been segmented into plain & flavored. On the basis of distribution channel, global Almond Milk market has been segmented into store based and non-store based. Store based segment has been segmented into supermarkets & hypermarkets, health & wellness, pharmacy, convenience stores and others.
The leading market players in the global Almond Milk market primarily are Blue Diamond Growers (U.S.), Hain Celestial Group (U.S.), Whitewave Foods (France), Sunopta Inc.(Canada), Daiya Foods Inc. (Canada), Galaxy Nutritional Foods, Inc. (U.S.), Tofutti Brands Inc. (U.S.)
- Almond Milk manufacturers
- Raw material suppliers
- End users
- Retailers and wholesalers
- E-commerce companies
- Traders, importers and exporters
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- Asia Pacific is estimated to retain its dominance throughout the forecast period and to grow at a substantial CAGR of 15.44%. Among the Asia pacific country, China is accounting maximum market proportion of 25.80% in the Asia Pacific Almond Milk market by the end of 2017. This is attributed by the rising lactose intolerance and various allergy.
- Rising vegan diet trend & urbanization has spurred the growth of Almond Milk market