Rising demand for the dairy-based alternatives, and higher preference for the cereal or plant-based food & beverage products, coupled with the increasing inclination for vegan diets and work as a source of lesser calories and multivitamins, are propelling the market demand.
Market Size – USD 18.36 billion in 2019, Market Growth – CAGR of 12.8%, Market Trends – Growing consumption of the lactose-free cereal-based dairy products, vegan food practice and growth in the Cosmetics sector
The Global Nut Milk Market is projected to reach USD 48.46 billion by 2027. The market is fueled by the rising trend of consuming dairy based cereal alternatives, and growing practices of vegan diet, concerns about antibody residues, or growth hormones in animal milk. The product are often highly preferred by the patients who suffer from CMA, LI, phenylketonuria, radioiodine cancer, eczema, eyesight problem, weaker bone density, hypercholesterolemia, and allergic to dairy based products. More than 16% European consumers try avoiding dairy products for these aids and cholesterol issues. Nut Milk has been a great alternatives, and many almond based food & beverage products are being produced to support the demand chain formed by the consumers.
Additionally, growing concerns with weight management, emphasis on weight loss & maintenance, importance on the blood sugar spike control are some of the factors that have been creating an overall enforcement in the market. Beside, high calcium and multivitamins like Vitamin A, Vitamin E, Vitamin D with riboflavin, calories, the Nut Milk have been very effective on enhancing antioxidant degree, providing low sugar & calorie content, working as an efficient source of calcium, providing high bone density, digestive health & weight management.
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Key Participants include Whitewave Foods, Blue Diamond Growers, Daiya Foods Inc., Tofutti Brands Inc., SunOpta Inc., Fine Japan Co. Ltd., Hain Celestial Group, Galaxy Nutritional Foods, Inc., Nature’s Choice B.V., and Vitasoy Australia Products Pty. Ltd., among others.
Further key findings from the report suggest
- The overall nutritional supplement sales for children are expected to rise during the forecast period. It was observed that Chinese and Indian parents were willing to spend relatively large amounts of money on the health of their children in relation to family income.
- A new trend emerging in the dietary supplements market is the need to use organic or sustainable ingredients. This trend is being driven by two fundamental shifts in this industry: the need to consume ‘healthier’ ingredients and consumers’ increasing concerns for sourcing ‘sustainable’ products
- Variations in the price of the upstream product are expected to influence the production cost of organic product. The cost of production is also an important factor which could affect the market price.
- Nutraceuticals & Baby Food sub-segment had a market share of 28.6% in 2019 due to its remarkable usage of the Nut Milk based formulation for making end-use baby food products & nutritional additives.
- In 2017, Danone, a France-based food conglomerate, announced its acquisition of the plant-based dairy producer, named WhiteWave Foods.
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For the purpose of this report, Reports and Data have segmented into the global on the basis of type, sales channel, form, end-use verticals, and region:
Type Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
- Soy Milk
- Nut Milk
- Coconut Milk
- Rice Milk
- Oat Milk
- Hemp Milk
- Cashew Milk
- Hazelnut Milk
Sales Channel Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
- Supermarket & Hypermarket
- Online Retails
Form Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
End-Use Verticals Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
- Food & Beverages
- Nutraceuticals & Baby Food
- Personal Care
Regional Outlook (Revenue: USD Billion; Volume: Kilo Tons; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Saudi Arabia
- Rest of MEA
- Latin America
- Rest of LATAM
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Identifying the basic business drivers, challenges, and tactics adopted:
- The report provides intrinsic details and fluctuating aspects that influence the commercial dynamics of the Nut Milk market along with integral factors of the rise in the demand for the product have been mapped across vital geographical regions.
- An overview of the multifarious applications, business areas and the latest trends observed in the industry has been laid out by this study.
- Various challenges overlooking the business and the numerous strategies employed by the industry players for successful marketing of the product have also been illustrated.
- The research inspects the sales channels (indirect, direct, marketing) that companies have chosen for the primary product distributors and the superior clientele of the market.
Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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