Global Nut-Free Milk Alternatives Market – Industry Trends and Forecast to 2029

Nut-Free Milk Alternatives Market Analysis and Size

Nut-free milk alternatives are widely being accepted as a popular replacement of ordinary dairy milk owing to their various health benefits such as weight management, enhancement of bone density, and improved digestibility. These beverages getting large attention from healthy diet adopters and vegan diet followers.

Global Nut-Free Milk Alternatives Market was valued at USD 23.4 billion in 2021 and is expected to reach USD 90.98 billion by 2029, registering a CAGR of 18.50% during the forecast period of 2022-2029. Soy Milk accounts for the largest product type segment in the respective market owing to its high protein content compared to other dairy alternatives. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

Market Definition

Nut-free milk alternatives refer to the type of milk alternatives that are specifically ideal for people with nut allergy or sensitivity. These milk alternatives consist of soy, hormones and lactose, and are known to have lower in sugar than other dairy free milks. These can be used in smoothies without worrying about digestion complications.

Nut-Free Milk Alternatives Market Scope and Segmentation

Nut-Free Milk Alternatives Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Inclination towards Healthy Lifestyle

The increase in the consumer preference for dietary improvements acts as one of the major factors driving the growth of nut-free milk alternatives market. The rise in trend of leading a healthy lifestyle among all age groups shifting to healthy and innovative approach have a positive impact on the industry.

• Prevalence of Obesity

The increase in the prevalence of obesity among population further influences the market. People reaching out to dieticians and nutritionists providing customized diet plans with the aim of losing weight helps in the market growth.

• Awareness Regarding Healthy Lifestyle

The rise in the awareness regarding the importance of leading a healthy lifestyle, accelerate the market growth. The prevalence of various chronic diseases, such as diabetes, and cardiovascular diseases, among others is encouraging people to adopt nut-free milk alternatives.

Additionally, change in lifestyle, increase in the disposable income and rise in awareness regarding the benefits of the nutrition plan positively affect the nut-free milk alternatives market.

Opportunities

Furthermore, new product innovations and increase in the number of beverage and functional drinks sales extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, rise in number of end-use applications will further expand the market.

Restraints/Challenges

On the other hand, high cost associated with product and fluctuations in the raw material prices are expected to obstruct market growth. Also, lack of consistency in regulations is projected to challenge the nut-free milk alternatives market in the forecast period of 2022-2029.

This nut-free milk alternatives market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on nut-free milk alternatives market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Nut-Free Milk Alternatives Market

COVID-19 had a negative impact on several industries. However, nut-free milk alternatives market witnessed a significant growth during this period. During the lockdown imposed by the government for restricting the spread of the coronavirus disease, most of the population took keen interest in adopting health diets. People are adopting functional food and beverages to increase their immunity with the increasing health complications. The rise in the emphasis on good health is going to keep increasing the growth of the market in the post pandemic scenario.

Global Nut-Free Milk Alternatives Market Scope and Market Size

The nut-free milk alternatives market is segmented on the basis of product type, type, formulation, nutritive, application and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Soy Milk
• Coconut Milk
• Flax Milk
• Cashew Milk
• Oat Milk
• Hemp Milk
• Rice Milk

Type

• Inorganic
• Organic

Formulation

• Plain and Sweetened
• Flavored and Unsweetened
• Flavored and Sweetened
• Plain and Unsweetened

Nutritive

• Protein
• Vitamins
• Carbohydrates

Application

• Food
• Beverages

Distribution Channel

• Supermarkets
• Hypermarkets
• Online
• Specialized Stores

Nut-Free Milk Alternatives Market Regional Analysis/Insights

The nut-free milk alternatives market is analysed and market size insights and trends are provided by country, product type, type, formulation, nutritive, application and distribution channel as referenced above.

The countries covered in the nut-free milk alternatives market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America dominates the nut-free milk alternatives market because of the rise in awareness among consumers about their health within the region.

Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 because of the increase in the number of obesity rates in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Nut-Free Milk Alternatives Market Share Analysis

The nut-free milk alternatives market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to nut-free milk alternatives market.

Some of the major players operating in the nut-free milk alternatives market are

• Oatly AB (Sweden)
• Danone SA (France)
• Alpina Productos Alimenticios SA (Columbia)
• The Whitewave Foods Company (US)
• Kite Hill (US)
• Hain Celestial (US)
• Vitasoy International (Hong Kong)
• Sunopta (Canada)
• Pureharvest (UAE)
• Pacific Foods Of Oregon, Inc. (US)
• Sanitarium (Australia)
• Blue Diamond Growers (US)
• Good Karma Foods, Inc.(US)
• McCormick & Company Inc. (US)
• Alpro (Belgium)

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