February 3, 2023

The global almond beverages market size is expected to grow rapidly during the forecast period. The increasing awareness regarding plant-based drinks as an alternative to dairy products among the vegan population is responsible for fueling market growth. Fortune Business Insights™ offers this information in its report titled “Almond Beverages Market, 2022-2029.

Almond Beverages are gaining attention among vegans as it is a plant-based drink with the same nutritional content as compared to dairy products. The rising lactose intolerance and lactose allergy cases have led to the robust demand for plant-based beverages among the population. Furthermore, increasing concerns of antibiotic use, hormone content, and saturated fat levels are likely to fuel demand for almond beverages and almond milk. These beverages are gaining traction because of their excellent vitamin and protein content that boost health. The manufacturers are utilizing fortification techniques to boost the nutritional content of almond beverages. As a result, almond-based drinks are just as nutritional as dairy products. In addition, almond milk is used in several beverages in the food & beverage industry, which, in turn, can boost its market growth.

 

Impact of COVID-19

High Demand for Healthy Food Products to Fuel Market Growth

The rising awareness among the consumers regarding healthy food products can fuel the market during the COVID-19 pandemic. The rising spending ability and awareness from the younger generation leads to the adoption of healthy drinks such as almond beverages. The business activities of such beverages are steadily growing due to the rising demand from consumers. E-commerce shopping websites have transformed shopping for consumers by increasing their convenience, which, in turn, can boost product demand. As a result, the market is expected to grow steadily despite the pandemic.

 

Fortune Business Insights™ lists out all the almond beverages market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:

  • Pacific Foods of Oregon, LLC
  • WhiteWave Services, Inc.
  • Nestle S.A.
  • Trader Joe’s Valsoia S.p.A.
  • The Hain Celestial Group
  • Costco Wholesale Corporation
  • Blue Diamond Growers
  • Hiland Dairy
  • Natura Foods

 

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Highlights of the Report

  • This report analyzes the leading segments and the recent market trends.
  • It conducts a comprehensive analysis of the impact of COVID-19 and the driving and restraining factors.
  • The report examines the regional developments and the strategies implemented by the market’s key players.

 

Drivers and Restraints

Increasing Popularity of Plant-Based Beverages to Boost Market Growth

The spike in veganism and concerns regarding animal welfare has led to the rising adoption of almond beverages. Almond beverages are just as healthy as milk-based drinks and food products because of fortification and other processes that boost the nutritional benefit of the beverages. As a result, the product’s popularity is increasing rapidly among the vegan population, which, in turn, can boost its demand considerably. Almond beverage adoption is increasing among consumers suffering from lactose allergies and lactose intolerances. It fulfills their nutritional requirement as they are not able to consume milk products. As per the U.S. National Library of Medicine, about 65% of the population globally suffers from lactose intolerance. About 70% of the East Asian population suffers from lactose intolerance globally. In addition, the manufacturers are developing new techniques to boost nutritional value, which, in turn, is increasing the product’s demand. Thus, this factor can drive the almond beverages market growth.

However, high transportation, preservation, and packaging costs can hamper the market growth.

 

Regional Insights

Rising Vegan Population to Bolster Market Growth in North America

North America is projected to dominate the almond beverages market share due to the increasing vegan population. The awareness of healthy non-dairy, and non-GMO drinks are gaining traction among the population. Thus, this factor can boost the market growth.

In Europe, the rising awareness of flexitarian and vegan diets is expected to propel the demand for almond beverages. In addition, the demand for functional beverages is likely to boost market growth.

In Asia Pacific, the rising cases of lactose intolerance among the population are expected to boost market growth. Increasing tourism activities is expected to increase the demand for almond beverages. Thus, this factor can propel market growth.

 

Segments

By type, the market is segregated into organic and conventional. Based on flavor, it is bifurcated into unflavored and flavored. As per the distributional channel, the market is classified into specialty stores, supermarkets/hypermarkets, online retail, convenience stores, and others. Geographically, it is grouped into Europe, North America, Asia Pacific, South America, and the Middle East & Africa.

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Competitive Landscape

Prominent Players Launch Novel Products to Expand Product Portfolio

The prominent players launch novel products to expand their product range and fulfill consumer demand. For example, Danone’s SToK Cold Brew brand announced two new cream coffees containing almond milk in August 2019. This product launch expanded the company’s product portfolio. Further, the partnership strategies among crucial players enable companies to improve their product quality and boost their market position. The incorporation of advanced production techniques aid in reducing time consumption and enhance workflow efficiency. This strategy enables companies to fulfill their goals.

 

The Global Almond Beverages Market Research/Analysis Report Contains Answers to your following Questions:

  • Which Manufacturing Technology is used for Almond Beverages? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Almond Beverages  Market? What are Their Company Profile, Their Product Information, and Contact Information?
  • What Was Global Market Status of Almond Beverages  Market? What Was Capacity, Production Value, Cost and PROFIT of Almond Beverages  Market?
  • What Is Current Market Status of Almond Beverages  Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Almond Beverages  Market Trends by Taking Applications and Types in Consideration?
  • What Are Projections of Global Almond Beverages  Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about Import and Export?
  • What Is Almond Beverages  Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is Economic Impact On Almond Beverages  Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
  • What Are Market Dynamics of Almond Beverages  Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Almond Beverages  Industry?

 

Industry Development 

  • January 2020: Silk announced new DHA omega-3 peas, almond milk & oat beverage to expand its plant-based product range.

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