Global Almond Drinks Market – Industry Trends and Forecast to 2031

The Almond Drinks market is experiencing robust expansion, with market size projected to increase from 4,719.5 billion in 2023 to 7,751.1 billion by 2031, demonstrating a consistent year-over-year growth rate of 5.1%. Almond Drinks Market Size, Share, Competitive Landscape and Trend Analysis Report, by Types (Sweetened, Unsweetened, Flavored), by applications (Food & Beverages, Cosmetics) And regions ({regionNms}) : Industry Forecast and Opportunity Analysis for 2023 - 2031

The almond drinks market deals with that part of the industry that creates, distributes, and sells beverages made mainly from almonds. These drinks, usually called almond milk, are plant-based dairy alternatives made by grinding almonds with water; they are sometimes fortified with vitamins or minerals, as well as flavouring agents, thus satisfying a wider consumer group that seeks lactose-, vegan-, and health-conscious consumption—not only for drinking but also to be used in cooking and baking. In addition to that, even many other people are becoming facility users of these types of beverages because they are lactose intolerant, and most of these products are gaining popularity among those who adhere to a plant-based diet. Currently, the almond drinks market has an array of products, such as free-sugar, flavoured, fortified, and organic almond beverages, which attract various people according to their choices and preferences.

Almond Drinks Report Highlights

Report Metrics	Details
Forecast period	2019-2031
Base Year Of Estimation	2023
Growth Rate	CAGR of 5.1%
Forecast Value (2031)	USD 7,751.1 Million
By Product Type	Sweetened, Unsweetened, Flavored
Key Market Players	Alpro Califia Farms Daiya Foods Inc. Dream Earth's Own Food Company Inc. Hain Celestial Group Hiland Dairy Foods Malk Organics Nutriops Pacific Foods of Oregon LLC Provamel The Luz Almond Company Pty Ltd
By Region

Almond Drinks Market Trends

Numerous factors, like rising consumer demand for plant-based alternatives or alternatives accessible for different categories such as vegans and lactose intolerants, have brought the almond drinks market into a huge growing trend. Plant-based beverages are now getting more importance for environmental and ethical perspectives, thus bringing more attention to this category. The almond milk show is doing wonders in terms of application to culinary dishes and health benefits perceived as dairy-free, lactose-free, and cholesterol-free. Flavoured and unsweetened alternatives are further engrossing consumers looking for more personalised, healthier beverage options.

Almond Drinks Market Leading Players

The key players profiled in the report are Alpro, Califia Farms, Daiya Foods Inc., Dream, Earth's Own Food Company Inc., Hain Celestial Group, Hiland Dairy Foods, Malk Organics, Nutriops, Pacific Foods of Oregon LLC, Provamel, The Luz Almond Company Pty Ltd

Growth Accelerators

The burgeoning almond drinks market is driven by the fast-growing consumer preference for plant-derived, lactose-free beverages, which has been propelled by the high level of health awareness and even restrictions in diets such as lactose intolerance and veganism. Almond drinks are being considered healthier alternatives to dairy milk, as they are low-calorie, cholesterol-free, and rich in nutrients like vitamin E and antioxidants. The emerging demand for sustainable and environmentally friendly products also favours the manufacturing of almond beverages, which can be seen as additional fuel for the increasing customer base of almond products among environment-conscious consumers. Another great motivator is the surge of innovation and diversification in almond drink production. Manufacturers are launching flavoured, fortified, and functional almond drinks to help meet different flavour preferences and nutritional needs. An excellent increase in accessibility has followed in-store retail sales and online distribution channels, whilst aggressive advertising and celebrity or influencer endorsements would have no doubt added to the increasing stirring of public interest in such dynamic markets. This dynamic market also benefits from the higher acceptance of plant-based diets in both developed and emerging economies.

Almond Drinks Market Segmentation analysis

The Global Almond Drinks is segmented by Type, Application, and Region.
By Type, the market is divided into Distributed Sweetened, Unsweetened, Flavored . The Application segment categorizes the market based on its usage such as Food & Beverages, Cosmetics. Geographically, the market is assessed across key Regions like {regionNms} and others, each presenting distinct growth opportunities and challenges influenced by the regions.

Competitive Landscape

The competitive landscape is also changing with the creation of alliances within the environment that will serve to address the needs of the market. For instance, Gleaners Community Food Bank and Ford Motor Company Fund entered into an alliance in January 2024 to address food insecurity, which also helps in promoting healthy eating among some vulnerable populations, thus extending its indirect support to the almond drinks market. The almond drink market is expected to grow from USD 5.27 billion in 2023 to almost USD 8 billion by the year 2030 due to rising health consciousness and a movement toward vegan diets. It also indicates how important mergers or acquisitions have become for companies to innovate and capture a greater share of the expanding market.

Challenges In Almond Drinks Market

In regard to the biodynamic competition of almond drinks with plant-based and dairy milk products, several other aspects are there. First, several other plant-based drinks, like oat or soy milk, are increasingly popular among consumers; they have to carve a niche out among these alternatives, which depends on taste, nutritional input, and sustainability. Next to that is the thorny issue of cost, for the almond drinks are pricier than conventional dairy milk; thus, keeping much of the consumer base at bay, they are accessible to most. Another drawback is the variations in the cost of raw materials, especially almonds, which are directly related to unfavourable weather and crop yield. This leads to volatility in supplies and increased production costs, directly resulting in reduced profitability. In addition to any land and market accessibility impacts, there are also public opinions about almond production concerning environmental concerns such as water usage, as these affect consumer opinions toward almond products, especially in parts of the world where the population faces water shortages or drought. Such elements would cause impediments for firms intending to expand and gain the confidence of consumers.

Risks & Prospects in Almond Drinks Market

North America, Europe, and Asia-Pacific are developing territories that are increasingly embracing veganism and plant-based diets, which contribute to market growth. To engage more eco-friendly customers, companies are continuing to expand their product lines and invest in sustainable production practices. Increased popularity in relation to almond drinks among coffee shops, cafes, and foodservice chains also opens the market's potential growth. The almond drinks market is set to grow well since even more people become health conscious, and brands are seen to capitalise on emerging markets and evolving consumer preferences.

Key Target Audience

Its prime target audience includes health-conscious consumers that are lactose intolerant, vegans, or simply looking for plant alternatives to dairy in the almond drinks market. This market segment is also typically interested in the lower calories and high vitamin E content of almond milk, with an absence of cholesterol. Young adults, mostly from the millennial generation and Generation Z, are significant consumers for the reason of their heightened awareness of environmental sustainability and their preferences for cruelty-free and eco-friendly products.,, The other important target group is families, particularly those with children that have milk allergies or are lactose intolerant. Almond drinks also cater to consumers that are looking for an alternative of adding something natural and gluten-free to their diet. Rising demand for alternative beverages, therefore, is making the market grow into consumers from different age groups, especially focusing on the urban, affluent segment of people who have high purchasing powers to buy premium-priced almond-based drinks.

Merger and acquisition

From the recent trends noticed in the almond drink market, it was infused with many mergers and acquisitions that are indeed a reflection of growth and growing consumer demand for plant-based substitutes. In March 2024, MALK Organics, one of the prominent companies in the alternative milk space, announced that they completed an internal investment round led by their existing investors, Benvolio Group and Rotor Capital. This funding would be used for the expansion of their distribution network, as well as the introduction of new products, Cashew MALK and Shelf Stable Unsweetened Almond MALK. In addition, in June 2023, Blue Diamond Growers, the largest almond marketer worldwide, joined hands with Brightseed to explore the many health benefits of California almonds so they can better educate consumers about this healthy food.