Global Unsweetened Almond Milk Market – Industry Trends and Forecast to 2029

Unsweetened Almond Milk Market Analysis and Size

The almond milk market has expanded significantly as a result of the milk's widespread use in a variety of applications ranging from food to pharmaceutical. As the 'organic' trend spreads, demand for organic variants of almond milk has increased significantly, implying a positive outlook for the unsweetened almond milk market during the forecast period.

Data Bridge Market Research analyses that the unsweetened almond milk market was valued at USD 5.32 billion in 2021 and is expected to reach the value of USD 14.65 billion by 2029, at a CAGR of 13.50% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation

Market Definition

Almond milk is a plant milk made from almonds that has a nutty flavour and a creamy texture. It is a nutritious milk that is high in calcium and vitamins and has numerous health benefits. Almond milk is made by blending almonds, then adding water and straining the mixture to remove the solids.

Global Unsweetened Almond Milk Market Dynamics

Drivers

• Growing trend of living a healthy lifestyle

The almond milk help to reduce the risk of abnormal heartbeats or arrhythmias, which can result in the patient's sudden death. It also aids in the reduction of triglyceride levels, the slowing of the growth rate of atherosclerotic plaque, and the reduction of blood pressure. Consumers are increasingly shifting to healthier alternatives while viewing preventive care as a necessary tool to assist them in leading a healthier lifestyle. As a result, almond milks are becoming more popular because they are a good source of vitamins, proteins, and minerals and can help with diseases like cancer, asthma, and depression.

• Manufacturers  strategies and promotions to influence consumers purchasing behaviour

Some factors influencing consumers' purchasing decisions are brand name, nutritional value, and product safety. Awareness of almond milk's benefits through various media forms, including electronic and print, is also likely to influence purchasing behaviour. Various mergers and acquisitions, partnerships, collaborations in the unsweetened almond milk market, as well as relatively high investment in the food industry, have been propelling the unsweetened almond milk market steadily.

Opportunities

The increasing application of almond milk in pharmaceuticals is boosting the market, as are increasing public initiatives associated with health and fitness, which further aid the market. The growing consumer awareness of the health benefits of almond milk is driving the demand for market players to innovate in order to remain competitive. The growing demand for almond milk in the cosmetics and personal care sectors is being fuelled by increased consumer awareness of its numerous benefits. The ease with which information for home-made remedies for skin conditions and personal care is available has improved as a result of the rise in Internet culture. As a result, consumers are turning to medicinally beneficial milks such as almond milk for homemade personal care products. The rise in demand for the native form of almond milk is primarily due to this factor.

Restraints

One of the restraining actors in the unsweetened almond milk market has been the processing cost of almond milk. As a result, the price of almond milk rises in general, and consumers become more hesitant to purchase it when compared to other edible milks. This is more visible in regions with low disposable income than in developed regions.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

This almond milk 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 the Almond Milk 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 Unsweetened Almond Milk Market

The COVID19 pandemic has had a significant impact on the global Unsweetened Almond Milk market. Due to laws and regulations imposed by various governments of different countries, several manufacturing units of almond milk were closed, which has had a negative impact on the product's production volume. This has also had a negative impact on the trading chambers of almond milk around the world. With most countries in the world on partial or full lockdown, demand for cooking almond milk was drastically reduced in the early stages of the pandemic.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent developments

• Shree Ram Proteins Ltd announced plans to build a new milk refinery in 2022, diversifying its business. For the new business segment, the company has ordered a cutting-edge refining plant. By the end of January 2023, the company plans to launch Rape Seed Milk, Groundnut Milk, and Cottonseed Milk. It is classified as edible refined milk and will serve the company's domestic market. As a result of diversification, the company is expanding its business and expanding its product offerings to customers.
• Cargill purchased an edible milk refinery in Nellore, Andhra Pradesh, in 2021 to expand its footprint in Southern India and strengthen its existing supply chain in the country.

Global Unsweetened Almond Milk Market Scope

The unsweetened almond milk market is segmented on the basis of category, application, packaging type and distribution channel. The growth amongst these segments will help you analyse meagre 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.

Category

• Conventional
• Organic

Packaging Type

• Bottles
• Cans
• Cartons

Application

• Beverages
• Frozen Dessert
• Personal Care
• Others

Distribution channel

• Store based
• Non-store based

Unsweetened Almond Milk Market Regional Analysis/Insights

The unsweetened almond milk market is analysed and market size insights and trends are provided by country, category, application, packaging type and distribution channel as referenced above.

The countries covered in the unsweetened almond milk market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the unsweetened almond milk market because of rising consumption of grab-and-go beverages and an increase in lactose intolerant consumers in this region.

Europe is the expected region for growth in the unsweetened almond milk market due to increased disposable income, a large presence of dairy farms, and an increase in dairy product consumption.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact 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 Unsweetened Almond Milk Market Share Analysis

The unsweetened almond milk 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 unsweetened almond milk market.

Some of the major players operating in the unsweetened almond milk market are:

• Locavor (U.K.)
• La Tourangelle (U.S.)
• Roland Foods LLC (U.S.)
• Aromex Industry (India)
• Best Natures Cosmetic (Canada)    
• Bio Planete (Germany)
• Biopurus . C.O. U.K. (U.K.)
• Byodo Naturkost GmbH (Germany)
• Clearspring L (U.S.)
• Hain Celestial (U.S.)
• Higher Nature Limited (U.K.)
• Nature Stuff Limited (U.K.)

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