Almond Milk Industry

The global almond milk market is projected to reach a value of USD 17.71 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2030, according to a recent report published by Grand View Research, Inc. This upward trajectory is largely attributed to shifting consumer lifestyles and the growing health consciousness among individuals, particularly with regard to managing and preventing conditions such as diabetes and obesity.

Almond milk, a plant-based beverage, has emerged as a popular alternative to traditional dairy milk, especially among consumers seeking vegan, lactose-free, or low-calorie options. As the global vegan population continues to rise and more people seek sustainable food sources, almond milk is gaining traction not just as a drink but also as a versatile ingredient. It is increasingly used in the preparation of various food items including frozen desserts, baked goods, and specialty beverages like smoothies and milkshakes. In this context, almond milk is becoming a prominent competitor to other non-dairy alternatives such as soy milk.

An additional factor supporting market growth is the increasing incorporation of almond milk into the personal care and cosmetics industry. The use of organic and plant-based ingredients has become a significant trend in skincare and haircare product development. Almond milk, being rich in omega-3 fatty acids and vitamin E, plays a vital role in skin nourishment and hydration. As a result, major personal care brands like The Body Shop, Procter & Gamble (P&G), and Unilever have begun formulating their products using almond milk as a key ingredient to cater to growing consumer demand for natural and eco-conscious formulations.

The surge in demand for almond milk is particularly pronounced in the beverage sector, a trend largely driven by the increasing incidence of lactose intolerance, especially in European countries. This has encouraged many consumers to seek dairy-free alternatives. Companies such as Oatly and Califia Farms have responded by launching innovative flavored almond milk beverages, which are not only lactose-free but also soy-free, gluten-free, vegan-friendly, and stable in hot beverages like tea, as they do not curdle. Beyond beverages, almond milk has also found applications in the bakery, confectionery, and alcohol industries. For instance, Baileys has introduced a vegan-friendly version of its iconic liqueur—Baileys Almande Irish Cream—which uses almond milk as its base ingredient.

Regionally, Asia Pacific holds the largest share of the global almond milk market, fueled by strong demand from populations with high rates of lactose intolerance, particularly in China and other East Asian countries. The region’s dominance is further supported by rising disposable incomes, a growing middle class, and increasing awareness of the health benefits associated with plant-based diets. The Asia Pacific almond milk market is expected to grow at a robust CAGR of 15.0% from 2019 to 2025, indicating sustained consumer interest and market expansion opportunities in the years to come.

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Almond Milk Market Segments Highlights:

• Conventional almond milk dominated the market with 86.2% share in 2023. As more consumers shift towards plant-based diets for digestive needs, inorganic almond milk, rich in vitamins and minerals, gained popularity due to its nutritional benefits and versatility.
• Non-flavored almond milk held a dominant market share in 2023. Non-flavored almond milk is perceived as a healthier alternative to flavored varieties as it typically contains fewer additives and sugars.
• Hypermarkets and supermarkets registered the dominant market share of 41.3% in 2023. The market surge can be credited to the rising consumer preference for hands-on shopping experiences.
• The almond milk market in the Asia Pacific (APAC) region accounted for the dominant share of 45.8% in 2023 owing to the rising per capita incomes in developing economies such as China and India.

Almond Milk Market Report Segmentation

Grand View Research has segmented the global almond milk market on the basis of on nature, flavor, distribution channel, and region:

Almond Milk Nature Outlook (Revenue, USD Million, 2018 - 2030)

• Organic
• Conventional

Almond Milk Flavor Outlook (Revenue, USD Million, 2018 - 2030)

• Flavor
• Non-flavored

Almond Milk Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Hypermarkets & Supermarkets
• Specialty Stores
• Online
• Others

Almond Milk Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
• Middle East and Africa (MEA)
  • South Africa

Key Almond Milk Company Insights

• Blue Diamond Growers
• Califia Farms LLC
• Danone SA
• Nestlé
• SunOpta
• The Hain Celestial Group
• Ripple Foods
• Malk Organics
• Three Trees
• Milkadamia

Order a free sample PDF of the Almond Milk Market Intelligence Study, published by Grand View Research.