Almond Milk Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The almond milk market is expected to grow at a significant rate, with a current market size of $ 3.08 billion in 2024, estimated to reach $ 10 billion by 2035. Its CAGR will be a very strong 11.3% from 2025 to 2035. The trend towards a vegetarian diet, which is mainly based on the desire for health and the need to protect the environment, is largely responsible for this development. However, the development of almond milk technology, especially in the area of flavoring, will also make almond milk more appealing to a wider audience. In addition, the major players in the almond milk market, such as Blue Diamond Growers, Califia Farms, and Alpro, are actively investing in product innovation and strategic cooperation in order to seize the market. These companies have recently launched fortified almond milk and teamed up with health-conscious retailers. These strategic initiatives will play a key role in shaping the competition in the market and driving the growth of almond milk.

Regional Market Size

Regional Deep Dive

Almond milk is growing in popularity as a result of rising health consciousness, dietary preferences and the rise in plant-based diets. North America has a strong demand for dairy alternatives, while in Europe the trend is towards organic and sustainably sourced products. In the Asia-Pacific region, almond milk is gaining in popularity as a result of urbanization and changing lifestyles, while in the Middle East and Africa, almond milk is slowly becoming a popular dairy alternative. Latin America is also emerging as a potential market, owing to the growing popularity of veganism and the growing awareness of lactose intolerance.

Europe

• In Europe, the demand for organic almond milk has surged, with brands like Alpro and Oatly expanding their product lines to include organic options, catering to health-conscious consumers.
• Almond milk is a product of agro-industrial exploitation, but the European Union, which is now placing the greatest importance on the conservation of the environment, is forcing the producers to adopt more eco-friendly methods, which is likely to attract consumers who are more conscious of the environment.

Asia Pacific

• The Asia-Pacific region is seeing a rise in almond milk consumption, particularly in countries like China and India, where urbanization and health trends are driving demand for plant-based alternatives.
• Local companies, such as Vitasoy in Hong Kong, are innovating with flavors and formulations to cater to regional tastes, which is expected to enhance market penetration and consumer acceptance.

Latin America

• Latin America is witnessing a gradual shift towards plant-based diets, with almond milk gaining traction among health-conscious consumers, particularly in Brazil and Mexico.
• Local startups are emerging in the region, focusing on sustainable sourcing and production methods, which is expected to resonate well with environmentally conscious consumers.

North America

• The North American market is heavily influenced by the growing trend of veganism and lactose intolerance, with companies like Blue Diamond Growers and Califia Farms leading the charge in product innovation and marketing strategies.
• Recent regulatory changes in labeling requirements have prompted brands to emphasize transparency in ingredient sourcing, which is expected to enhance consumer trust and drive sales.

Middle East And Africa

• In the Middle East, the growing health awareness among consumers is leading to increased interest in almond milk, with brands like Al Ain Dairy introducing almond milk products to meet this demand.
• Cultural shifts towards healthier lifestyles and dietary changes are prompting retailers to expand their plant-based product offerings, which is likely to boost almond milk sales in the region.

Did You Know?

“Almond milk is not only lower in calories than cow's milk but also contains no cholesterol, making it a popular choice among health-conscious consumers.” — USDA National Nutrient Database

Segmental Market Size

The almond milk sector is a key player in the plant-based beverage market, which is experiencing strong growth due to the rising demand for dairy alternatives. Among the reasons for this are a growing awareness of health, with consumers seeking lactose-free and lower-fat products, and a desire for sustainable and environmentally friendly products. Furthermore, the promotion of plant-based diets by public authorities is contributing to the sector’s growth. Almond milk is currently a well-established product with Blue Diamond and Califia Farms among the market leaders. Its main uses are in coffee, in baking and in making milkshakes. There are several notable trends that are driving growth, such as the rise of veganism and flexitarianism and the reduction of dairy consumption as part of initiatives to promote the environment. Also driving growth are new production methods and packaging that improve product quality and shelf life.

Future Outlook

The almond milk market is forecast to grow significantly from 2024 to 2035, from $3.08 billion to $10 billion, with a CAGR of 11.3%. This is mainly due to the increasing popularity of plant-based alternatives, driven by the health trend and the awareness of the impact of dairy farming on the environment. Almond milk is expected to take up about 15% of the milk market by 2035, from 5% in 2024, which shows a strong shift in consumer behavior towards sustainable and healthy products. The development of almond milk production, such as the improvement of the extraction process and the improvement of the taste, is also expected to promote market growth. In addition, the government and industry have a strong policy support for the development of plant-based diets and sustainable consumption. The introduction of fortified almond milk and new packaging solutions to meet the changing needs of consumers will also help almond milk continue to compete in the beverage industry. As the market matures, brands that focus on quality, sustainable development and consumer engagement will be the most successful.