Global Almond Milk Market Outlook, 2029

Almond milk has become a prominent player in the global plant-based milk market, driven by increasing consumer demand for dairy alternatives due to health, environmental, and ethical considerations. This market has seen significant growth over the past decade, fueled by rising awareness of lactose intolerance, veganism, and concerns over the environmental impact of dairy farming. Almond milk, in particular, is favored for its nutty flavor, nutritional benefits, and versatility in culinary applications. Globally, the almond milk market is dominated by North America and Europe, with substantial growth also observed in Asia-Pacific. Key players in the market include companies like Blue Diamond Growers, Califia Farms, and Danone. These companies have been instrumental in expanding the product range and improving distribution channels, making almond milk more accessible to consumers worldwide. Regulations governing the almond milk market vary across regions. In the United States, the Food and Drug Administration (FDA) has set guidelines for labeling plant-based milk alternatives, ensuring that consumers are not misled about the nutritional content compared to cow's milk. The U.S. FDA has also been working on updating its guidelines to clearly define labeling for plant-based products. The European Union also has strict regulations, particularly regarding labeling and marketing, to ensure transparency and protect consumers. In many regions, there are ongoing debates and legal challenges over the use of the term "milk" for plant-based products, with dairy industry advocates pushing for more stringent regulations.

According to the research report " Global Almond Milk Market Outlook, 2029," published by Bonafide Research, the Global Almond Milk market was valued at more than USD 6400 Million in 2023. The market is anticipated to grow at more than 9.5% CAGR from 2024 to 2029. Major brands, such as Blue Diamond Growers and Califia Farms, dominate the market, but an increasing number of startups are entering the space, driven by the lucrative opportunities presented by the rising consumer demand. One of the primary drivers is the growing health consciousness among consumers, who are increasingly seeking alternatives to traditional dairy due to concerns about lactose intolerance, cholesterol, and allergies. Almond milk, being naturally lactose-free and low in saturated fat, offers a compelling alternative. Additionally, the rise of veganism and plant-based diets has significantly contributed to the demand for almond milk, as more people opt for cruelty-free and environmentally sustainable food choices. Environmental considerations also play a crucial role in the market's expansion. Almond milk is perceived as a more sustainable option compared to cow's milk, with a smaller carbon footprint and reduced greenhouse gas emissions, despite concerns about water usage in almond farming. This perception aligns with the growing consumer trend towards eco-friendly products. The market's importance is further underscored by its economic impact. The almond milk industry supports a wide range of jobs, from farming and production to marketing and retail, contributing to the economies of key producing regions, particularly in the United States and Europe. Moreover, the market's growth has spurred innovation, leading to the development of new flavors, fortified products, and eco-friendly packaging solutions, enhancing consumer appeal and market penetration.

The almond milk market industry can be categorized into several types based on different criteria such as product form, flavor, packaging, and distribution channels. Firstly, in terms of product form, almond milk is available in both refrigerated and shelf-stable varieties. Refrigerated almond milk is often found in the dairy section of supermarkets and is favored for its fresher taste, while shelf-stable almond milk, which is processed using ultra-high temperature (UHT) pasteurization, offers the convenience of a longer shelf life without refrigeration until opened. Flavored and unflavoured almond milk constitute another important market segment. Unflavoured or original almond milk is popular for its versatility in both sweet and savory dishes, while flavored varieties, including vanilla, chocolate, and honey, cater to different taste preferences and are particularly popular among children and those new to plant-based milks. Additionally, there are sweetened and unsweetened versions of both flavored and unflavoured almond milk, providing options for consumers concerned about sugar intake.

Packaging types also differentiate the market, with almond milk available in various sizes and packaging materials such as cartons, bottles, and Tetra Paks. The choice of packaging often reflects consumer preferences for convenience, portability, and environmental sustainability, with an increasing trend towards recyclable and eco-friendly packaging solutions.

The end users of the almond milk market span several key sectors, including food and beverages, bakery and desserts, and dairy alternatives, each leveraging the unique properties of almond milk to cater to consumer demands. In the food and beverages sector, almond milk is widely used as a direct substitute for cow's milk in various applications such as coffee, smoothies, and cereal. It is favored for its creamy texture and nutty flavor, which complement a wide range of beverages and breakfast foods. The increasing prevalence of lactose intolerance and the rising popularity of plant-based diets have significantly boosted its use in this segment. In the bakery and desserts sector, almond milk is utilized as a versatile ingredient in recipes for cakes, cookies, pastries, and ice creams. Its ability to mimic the properties of dairy milk while offering a lower-calorie and dairy-free alternative makes it appealing to health-conscious consumers and those with dietary restrictions. Bakers and dessert makers appreciate almond milk for its consistency and the subtle flavor enhancement it provides to baked goods and confections. The dairy alternatives sector represents a significant end-user category, where almond milk serves as a cornerstone product. It is used to produce a wide range of dairy-free items such as yogurt, cheese, and creamers. These products cater to consumers seeking plant-based, vegan, or allergen-free options. The demand for dairy alternatives has surged due to growing health awareness, ethical concerns regarding animal welfare, and environmental sustainability issues associated with traditional dairy farming.



The distribution channel for the almond milk market industry encompasses various avenues, each playing a crucial role in making the product accessible to consumers. Retail distribution is the most prominent channel, involving supermarkets, hypermarkets, convenience stores, and health food stores. Supermarkets and hypermarkets offer a wide selection of almond milk brands and varieties, including both refrigerated and shelf-stable options, catering to the mass market. Health food stores often focus on organic and specialty almond milk products, appealing to consumers seeking premium or niche options. Online retail has emerged as a significant distribution channel, driven by the convenience of home delivery and the ability to easily compare products. E-commerce platforms, such as Amazon and specialized health and wellness websites, provide extensive product ranges and often feature customer reviews, which help shoppers make informed decisions. The growth of online shopping, accelerated by the COVID-19 pandemic, has further solidified this channel's importance in the almond milk market. Direct-to-consumer models are gaining traction, where brands sell almond milk directly through their websites. This approach allows companies to build stronger relationships with their customers, offer subscription services, and provide exclusive products or deals.

Major Companies present in the market:
The Hain Celestial (US), SunOpta (Canada), Nestle, Danone (France), Oatly (Sweden), Ripple Foods (US), Califia Farms (US), Daiya Foods Inc. (Canada), Pacific Foods of Oregon LLC, Elmhurst Milked Direct LLC, The Dohler Group, Kerry Inc, Sahmyook Foods.
Considered in this report
• Geography: Global
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029
Aspects covered in this report
• Global Almond milk market with its value and forecast along with its segments
• Country-wise plant based milk market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendations
Types of Almond milk in the report
• Flavoured
• Unflavoured

End User of Almond milk by formulation:
• Food & Beverage
• Bakery & Confectionary
• Dairy & Desserts

By Sales Channel:
• Supermarkets/Hypermarkets
• Convenience Stores
• Online
• Specialty Stores

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.
Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to plant based milk industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.