The increased preference for vegan food preferences is estimated to bolster the almond milk market in 2020. The food, beverages & nutrition reports are prepared by Market Research Future, which consists of market selections for advance. The market is set to gain USD 4.12 billion in revenue by 2024, with the backing of a CAGR of 12.8 % in the forecast period.
The preference for plant-based beverages has increased substantially, and this is estimated to create optimistic options for the expansion of the almond milk market companies. The consumer focus on healthy lifestyle choices is estimated to promote the almond milk market share in the forecast period.
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The benefits of mergers and collaborations are likely to be more pronounced in this context as pooling in resources and capabilities can lead to the creation of a stronger competitive advantage for companies in the market. The market is estimated to be further motivated by the policies that will be framed to create a conducive working atmosphere in the coming period. The inducement provided by governments is estimated to create a positive outlook for the development of the market in the impending period. The need for innovation and incorporation of more value in products is estimated to induce the global market constructively to expand in the forecast period. The tumultuous nature of global markets is currently estimated to create significant hindrances in the development of the market in the forecast period. The production technology and processes are estimated to undergo a considerable overhaul to be able to meet the expectations of the new reality in the business domains.
Elmhurst Milked Direct LLC (US), Blue Diamond Growers (US), Hain Celestial Group (US), Natura Foods (Canada), Daiya Foods Inc. (Canada), Sunopta Inc. (Canada), Three Trees Organic (US), Malk Organics (US), Pacific Foods of Oregon, LLC. (US) Rude Health (UK), Orgain, Inc. (US), Danone (France), Califia Farms (US), New Barn Organics (US), Hiland Dairy Foods Company, LLC (US) are some of the strategic companies in the Almond Milk Market.
The segmental examination of the Almond Milk Market has been segmented based on packaging type, category, distribution channel, and region. Based on packaging type, the almond milk market has been segmented into cans, bottles, and cartons. Based on regions, the almond milk market has been segmented into Europe, Asia Pacific, North America, and other notable regions. Based on category, the almond milk market has been segmented into conventional and organic. Based on the distribution channel, the almond milk market has been split into store-based and non-store-based. The store-based segment is additionally sub-segmented into convenience stores, supermarkets & hypermarkets, and others.
Detailed Regional Analysis
The regional overview of the almond milk market has been conducted for regions such as Europe, Asia Pacific, North America, and other notable regions. The North American almond milk market is projected to rule the market in the forecast period. The US national market is the foremost backing country in this region for the advance of the almond milk market. The elevated commonness of lactose intolerance in the US is propelling the progress of the almond milk market in this region. The European almond milk market also holds a momentous share in the global market. The growing vegan population and intensifying predisposition towards plant-based beverages are estimated to lift the development of the almond milk market in this region. However, the almond milk market in the Asia Pacific is observed to be a rewarding market for the progress of the market. The collective infiltration of the almond milk creators in the emerging countries of the Asia Pacific is motivating the development of the Asia Pacific almond milk market all through the forecast period.
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