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Almond Milk Market Size

The almond milk market is projected to experience significant growth, driven by increasing consumer demand and a shift towards healthier beverage options. The market's expansion is supported by the popularity of off-trade retail channels, which offer convenience and a variety of pricing options, enhancing consumer purchasing power. Regions such as Asia-Pacific and North America are leading in market share, with almond milk being favored for its health benefits and as a substitute for animal-based milk. The trend towards innovative flavors and the rising number of health-conscious consumers are expected to further propel the market's growth trajectory.

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Market Size of almond milk Industry

Almond Milk Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 5.49 Billion
svg icon Market Size (2029) USD 9.61 Billion
svg icon Largest Share by Distribution Channel Off-Trade
svg icon CAGR (2024 - 2029) 11.85 %
svg icon Largest Share by Region North America
svg icon Market Concentration Medium

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Almond Milk Market Analysis

The Almond Milk Market size is estimated at 5.49 billion USD in 2024, and is expected to reach 9.61 billion USD by 2029, growing at a CAGR of 11.85% during the forecast period (2024-2029).

5.49 Billion

Market Size in 2024 (USD)

9.61 Billion

Market Size in 2029 (USD)

9.02 %

CAGR (2017-2023)

11.85 %

CAGR (2024-2029)

Largest Market by Distribution Channel

94.28 %

value share, Off-Trade, 2023

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Consumer preference for these channels is driven by seasonal offers, discounts on bulk purchases, and access to diversified products through a dedicated section of dairy products.

Largest Market by Region

50.23 %

value share, North America, 2023

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With the increasing number of people suffering from lactose intolerance with the shifting preferences towards almond milk within the region is largely driving the regional growth.

Fastest-growing Market by Distribution Channel

12.05 %

Projected CAGR, Off-Trade, 2024-2029

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The onset of the experimential economy and the rising social media platforms with increasing consumer reach in the market is driving the off trade channels through online channels

Fastest-growing Market by Region

21.51 %

Projected CAGR, Middle East, 2024-2029

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The shift in consumer behavior is largely driving the Middle East region. It was majorly due to the rising concerns regarding animal welfare, personal health, and sustainability.

Leading Market Player

19.70 %

market share, Danone SA, 2022

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Due to its rising revenue, Danone has the opportunity to invest its revenue in R&D which increases the number of products, leading to it gaining a competitive edge in the market.

Availability of price comparison from different brands led the supermarkets to be most opted channel

  • Global off-trade retailing dominated the overall retail space during the review period (2017-2022). In 2022, the major factor associated with the domination of these retailers was consumer satisfaction. Consumers are highly attracted to off-trade retailing due to the greater convenience and comfort offered while purchasing almond milk. Globally, off-trade channels observed a growth of 6.84% from 2021.
  • By region, Asia-Pacific had the largest share of 48.73% in the overall off-trade distribution channels. In Asia-Pacific, off-trade channels offer almond milk at varied prices (low, medium, and high). The almond milk sold by these retailing units is available from USD 2.55 to as high as USD 16.4. The availability of almond milk at varied prices also promotes the buying power among consumers as they can purchase the products which suit their affordability parameters.
  • On-trade retailers are focusing on providing a variety of almond milk, including different flavors such as unsweetened, chocolate, vanilla, etc. Despite offering different flavors, these retailers cannot provide complete information such as product specifics (ingredient used, seed used, and others) to consumers. Thus, consumers prefer purchasing their almond milk beverages through off-trade modes. In 2022, Europe was considered the fastest-growing region in terms of on-trade channels, with a share of 7.41%.
  • Between 2018-2022, among the off-trade mode, specialty stores gained significant demand as they offered higher visibility about the product to consumers. With the growing demand for almond milk, the global off-trade distribution segment is expected to grow by 24.7% in 2025 from 2022.
Global Almond Milk Market

With increasing health concious consumers, the demand is mostly driven from North America and Asia-Pacific regions

  • The global almond milk market observed growth of 5.83% in 2022 compared to 2021. The increase was attributed to the rising number of health-conscious consumers worldwide. In 2022, the per capita consumption of almond milk was 1.28 kg. Some of the most preferred brands of almond milk are Minor Figures, Alpro, and Califia Farms.
  • In the Asia-Pacific region, almond milk is majorly used for various purposes. In 2022, consumers preferred almond milk as a substitute for animal-based milk in the region. In the Asia-Pacific region, Australia is considered the fastest-growing country for almond milk. In Australia, 30% of the population was diagnosed with irritable bowel syndrome (IBS) in 2022. Almonds are a great source of soluble fiber, and almond milk has fiber that relieves IBS and constipation.
  • In North America, almond milk is used as a healthy beverage among the population. Health-conscious consumers majorly prefer it. Since almond milk has lower fat content than animal-based milk, it is consumed by the population following a calorie deficit diet. To mitigate the effects of lactose intolerance, most consumers are majorly drinking almond milk as a replacement for animal milk. The per capita consumption of non-dairy milk in the region was 3.23 kg in 2022.
  • During the forecast period, with the growing focus on the benefits of almond-based milk, its demand is expected to rise. Consumers are more likely to prefer innovative flavors in the almond milk segment.

Almond Milk Industry Segmentation

Off-Trade, On-Trade are covered as segments by Distribution Channel. Africa, Asia-Pacific, Europe, Middle East, North America, South America are covered as segments by Region.

  • Global off-trade retailing dominated the overall retail space during the review period (2017-2022). In 2022, the major factor associated with the domination of these retailers was consumer satisfaction. Consumers are highly attracted to off-trade retailing due to the greater convenience and comfort offered while purchasing almond milk. Globally, off-trade channels observed a growth of 6.84% from 2021.
  • By region, Asia-Pacific had the largest share of 48.73% in the overall off-trade distribution channels. In Asia-Pacific, off-trade channels offer almond milk at varied prices (low, medium, and high). The almond milk sold by these retailing units is available from USD 2.55 to as high as USD 16.4. The availability of almond milk at varied prices also promotes the buying power among consumers as they can purchase the products which suit their affordability parameters.
  • On-trade retailers are focusing on providing a variety of almond milk, including different flavors such as unsweetened, chocolate, vanilla, etc. Despite offering different flavors, these retailers cannot provide complete information such as product specifics (ingredient used, seed used, and others) to consumers. Thus, consumers prefer purchasing their almond milk beverages through off-trade modes. In 2022, Europe was considered the fastest-growing region in terms of on-trade channels, with a share of 7.41%.
  • Between 2018-2022, among the off-trade mode, specialty stores gained significant demand as they offered higher visibility about the product to consumers. With the growing demand for almond milk, the global off-trade distribution segment is expected to grow by 24.7% in 2025 from 2022.
Distribution Channel
Off-Trade
Convenience Stores
Online Retail
Specialist Retailers
Supermarkets and Hypermarkets
Others (Warehouse clubs, gas stations, etc.)
On-Trade
Region
Africa
By Distribution Channel
Egypt
Nigeria
South Africa
Rest of Africa
Asia-Pacific
By Distribution Channel
Australia
China
India
Indonesia
Japan
Malaysia
New Zealand
Pakistan
South Korea
Rest of Asia Pacific
Europe
By Distribution Channel
Belgium
France
Germany
Italy
Netherlands
Russia
Spain
Turkey
United Kingdom
Rest of Europe
Middle East
By Distribution Channel
Bahrain
Kuwait
Oman
Saudi Arabia
United Arab Emirates
Rest of Middle East
North America
By Distribution Channel
Canada
Mexico
United States
Rest of North America
South America
By Distribution Channel
Argentina
Brazil
Rest of South America
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Almond Milk Market Size Summary

The almond milk market is experiencing significant growth, driven by increasing consumer awareness of health benefits and dietary preferences. This market is characterized by a strong preference for off-trade retail channels, which offer convenience and a wide range of pricing options, catering to diverse consumer budgets. The Asia-Pacific region holds a substantial share in off-trade distribution, with countries like Australia leading in almond milk consumption due to its health benefits, such as aiding those with irritable bowel syndrome. In North America, almond milk is popular among health-conscious consumers and those following a calorie deficit diet, serving as a lactose-free alternative to animal-based milk. The market is further bolstered by the rising trend of veganism and the demand for plant-based products, with almond milk being a preferred choice among non-dairy milk alternatives.

The almond milk market is projected to continue its upward trajectory, supported by innovations in flavors and formulations that cater to evolving consumer tastes. The market is fragmented, with key players like Blue Diamond Growers, Califia Farms LLC, Danone SA, Ecotone, and Nestlé SA holding significant shares. These companies are actively expanding their product offerings to meet the growing demand for almond-based beverages. The market's growth is also fueled by the increasing number of lactose-intolerant consumers globally, who are seeking plant-based milk alternatives. As the conscious-eating movement gains momentum, almond milk is positioned as a staple in the diets of fitness enthusiasts and those seeking healthier lifestyle choices.

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Almond Milk Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Distribution Channel

      1. 1.1.1 Off-Trade

        1. 1.1.1.1 Convenience Stores

        2. 1.1.1.2 Online Retail

        3. 1.1.1.3 Specialist Retailers

        4. 1.1.1.4 Supermarkets and Hypermarkets

        5. 1.1.1.5 Others (Warehouse clubs, gas stations, etc.)

      2. 1.1.2 On-Trade

    2. 1.2 Region

      1. 1.2.1 Africa

        1. 1.2.1.1 By Distribution Channel

        2. 1.2.1.2 Egypt

        3. 1.2.1.3 Nigeria

        4. 1.2.1.4 South Africa

        5. 1.2.1.5 Rest of Africa

      2. 1.2.2 Asia-Pacific

        1. 1.2.2.1 By Distribution Channel

        2. 1.2.2.2 Australia

        3. 1.2.2.3 China

        4. 1.2.2.4 India

        5. 1.2.2.5 Indonesia

        6. 1.2.2.6 Japan

        7. 1.2.2.7 Malaysia

        8. 1.2.2.8 New Zealand

        9. 1.2.2.9 Pakistan

        10. 1.2.2.10 South Korea

        11. 1.2.2.11 Rest of Asia Pacific

      3. 1.2.3 Europe

        1. 1.2.3.1 By Distribution Channel

        2. 1.2.3.2 Belgium

        3. 1.2.3.3 France

        4. 1.2.3.4 Germany

        5. 1.2.3.5 Italy

        6. 1.2.3.6 Netherlands

        7. 1.2.3.7 Russia

        8. 1.2.3.8 Spain

        9. 1.2.3.9 Turkey

        10. 1.2.3.10 United Kingdom

        11. 1.2.3.11 Rest of Europe

      4. 1.2.4 Middle East

        1. 1.2.4.1 By Distribution Channel

        2. 1.2.4.2 Bahrain

        3. 1.2.4.3 Kuwait

        4. 1.2.4.4 Oman

        5. 1.2.4.5 Saudi Arabia

        6. 1.2.4.6 United Arab Emirates

        7. 1.2.4.7 Rest of Middle East

      5. 1.2.5 North America

        1. 1.2.5.1 By Distribution Channel

        2. 1.2.5.2 Canada

        3. 1.2.5.3 Mexico

        4. 1.2.5.4 United States

        5. 1.2.5.5 Rest of North America

      6. 1.2.6 South America

        1. 1.2.6.1 By Distribution Channel

        2. 1.2.6.2 Argentina

        3. 1.2.6.3 Brazil

        4. 1.2.6.4 Rest of South America

Almond Milk Market Size FAQs

The Global Almond Milk Market size is expected to reach USD 5.49 billion in 2024 and grow at a CAGR of 11.85% to reach USD 9.61 billion by 2029.

In 2024, the Global Almond Milk Market size is expected to reach USD 5.49 billion.

Almond Milk Market Report Snapshots

Almond Milk Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029