One of the more popular non-dairy milk products, almond milk has emerged as one of the best alternatives to dairy milk. The changing food choices of the population and the increasing popularity of vegan food options has created an immense demand for plant-based milk products. Due to its high nutritional value, almond milk has become an instant hit amongst its target audience. Consequently, the global almond milk market is set to be highly profitable in 2018, and beyond.
Read: How More Consumers are Shunning Dairy in Favor of Nutty Alternatives
Millennials are nuts about almond milk
The growing fad of “taking the dairy out of milk” is catching on among the millennials. If there is a milk product that is driving them nuts, it’s almond milk. According to our experts, in the US alone, demand for almond milk has grown from 30% in 2010 to 50% in 2018. The prevalence of lactose-intolerance amongst the population is a prime reason behind this development.
But, it is not the developed economies alone where almond milk is in huge demand. The emerging economies too have witnessed a huge shift in their foodscape. This is why, even though the Americas have dominated the global almond milk market, the APAC region is seen as a promising market by experts in the non-alcoholic beverages industry.
Top 3 vendors in the global almond milk market
It is only natural for vendors to make the most of the consumers’ changing food habits and leverage them to their own advantage. Our newest report on the global almond milk market details how leading names in the non-alcoholic beverages vertical are milking this situation by launching product varieties like flavored almond milk, organic almond milk, and unsweetened almond milk.
The top three global vendors of almond milk as identified by our industry experts are:
1) Blue Diamond Growers | California
One of the leading producers of high-quality almond products, Blue Diamond Growers’ brand Almond Breeze is a major hit in the global almond milk market. In the year 2017, Blue Diamond launched its almond milk varieties in South Africa, Thailand, and South Korea.
Since 2014, the growth of the almond milk segment at the Blue Diamond Growers has been spectacular. This vendor has leveraged the dramatic tilt of Americans towards almond milk by launching product awareness programs throughout the country. The fact that this company already has a strong almond snack consumer base made it easier to top the sales of almond milk products as well.
2) Earth’s Own Food | Vancouver
Another leading name in the global almond milk market is Earth’s Own Food. The company offers soya beverages, organic rice beverages, and non-dairy puddings. With an annual revenue of over $1 million, its major markets include Hong Kong, Guatemala, and Trinidad and Tobago.
China, Brazil, and Iran are some of the new markets where Earth’s Own Food plans to launch its products in the next five years. According to our report, it is the growing awareness of choosing the vegan way of life that has boosted the demand for non-dairy drinks in these countries.
3) WhiteWave Foods | Denver
This packaged food and beverage company operates through two segments:
- American Foods & Beverages
- European Foods & Beverages
Apart from plant-based foods, WhiteWave manufactures coffee creamers, organic greens, and premium dairy products. The company sells almond milk under its brand Silk. A subsidiary of Danone, the net sales of WhiteWave Foods were above $5 billion in 2017. Most of WhiteWave products are non-GMO certified. Thus, its products are proving to be tough competition to other almond milk brands in emerging economies.
