Market Overview:

The Almond Milk Market size is estimated to reach $11.2 Billion  by 2031, growing at a CAGR of 8.7% during the forecast period 2025-2031, according to a recent report published by IndustryARC, titled, “Almond Milk Market – By Type (Sweetened and Unsweetened), By Source (Organic and Conventional), By Flavor (Original, Vanilla, Chocolate and Others), By Packaging (Bottles, Cartons and Others), By Distribution Channel (Online and Offline) and By Geography - Global Opportunity Analysis & Industry Forecast, 2025-2031”

The increasing consumer shift towards plant-based, lactose-free alternatives and the growing awareness of the health benefits of Almond Milk, such as being low in carbohydrates and rich in essential nutrients. Additionally, the expanding vegan population are fueling demand for Almond Milk.

North America Dominated the Market in 2024:

North America accounted for the largest share of 37% of the Almond Milk Market in 2024 due to change in in consumer preferences from animal-based milk to plant-based alternatives which is driving increased demand for plant-based products like Almond Milk. According to the Good Food Institute’s State of the Industry report, nearly half of all U.S households purchased plant based milk at least once in 2023. 

Almond Milk Market: Key Takeaways

Focus on Health & Wellness

The global shift towards health-conscious lifestyles and vegan food amplified the demand for plant-based products including Almond Milk. According to the BMEL Nutrition Report 2024, 39% of all Germans buy vegetarian or vegan alternative products more often. Consumers increasingly seek dairy alternatives due to lactose intolerance, dietary restrictions and the perception that plant-based options are healthier. Almond Milk, being naturally lactose-free and lower in carbohydrates compared to traditional dairy milk and is a preferred choice for those aiming to reduce calorie intake.

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Rise in Lactose Intolerance

According to the Association of Lactose Intolerant People, most people in Northern Europe suffer from lactose intolerance. With a substantial portion of the global population unable to digest lactose, almond milk is a popular choice due to its creamy texture, nutty flavor and versatility. This demand is growing in regions like Asia-Pacific, where lactose intolerance prevalence is greater. In addition to being lactose-free, almond milk is rich in vitamins and minerals, making it an appealing option for health-conscious consumers. In September 2024, Oxbow Brands announced the launch of its new brand, Vegan Drink Company (VDC), aimed at meeting the growing demand for dairy-free alternatives among lactose-intolerant individuals and those embracing a vegan lifestyle. With this launch, Oxbow Brands is set to expand its presence in offline channels as well as the food service industry across India.

Scope of the Report: 

Report Metric

Details

Base Year Considered

2024

Forecast Period

2025–2031

CAGR

8.7%

Market Size in 2031

$11.2 Billion

 

Segments Covered

By Type, By Source, By Flavor, By Packaging, By Distribution Channel, and By Geography

 

 

 

 

Geographies Covered

North America (U.S, Canada and Mexico), Europe (Germany, France, UK, Spain, Italy, Netherlands, Denmark and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, New Zealand, Singapore and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of the World (Middle East and Africa)

 

 

 

 

Key Market Players

1.      Danone S.A.

2.      Valio Oy

3.      MALK Organics

4.      Elmhurst 1925

5.      Blue Diamond Growers

6.      Califia Farms

7.      Mooala Brands, LLC.

8.      Plenish

9.      Pacific Foods of Oregon LLC

10.  Three Trees Foods

 

Recent Developments:

•    In October 2024, Oddlygood, the Nordic plant-based food and drinks business owned by Finnish dairy firm Valio, acquired UK based Rude Health to increase its foothold in the UK.

•    In May 2024, Lactalis Canada, the Canadian subsidiary of France-based Lactalis Group, today announced the launch of its new plant-based brand Enjoy! –  a nutritious, delicious, unsweetened, high protein line of plant-based beverages among which are also Unsweetened Almond and Unsweetened Almond Vanilla.

Almond Milk Market: Competitive Landscape

Key companies profiled in the Almond Milk Market are Danone S.A., Valio Oy, MALK Organics, Elmhurst 1925, Blue Diamond Growers, Califia Farms, Mooala Brands, LLC., Plenish, Pacific Foods of Oregon LLC, Three Trees Foods and Others

Related Reports:

Soy Milk & Cream Market - Soy Milk & Cream Market size is forecast to reach $13.8 billion by 2026, growing at a CAGR of 6.8% during the forecast period 2021-2026 attributed to the increasing awareness regarding health and wellness. 

Potato Milk Market- The Global Potato Milk Market size is predicted to reach $0.5 billion by 2030, growing at a CAGR of 5.2% during the forecast period 2023-2030 due to its distinctive flavor profile and nutrition.

Tiger Nut Milk Market- The Tiger Nut Milk Market size is estimated to reach $500 million by 2030, growing at a CAGR of 7.7% during the forecast period 2023-2030 driven by the growing demand for plant-based milk 

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