Almond milk is extracted from almonds by soaking the almond in water and blending the almonds with water and straining the remaining solids to obtain texture of pure milk which has a nutty and creamy flavor. Almonds are rich in iron, protein, calcium, vitamin D, and vitamin E, and act as natural source of anti-oxidant. The almond milk is considered a plant milk and is consumed by vegans as an alternative to animal milk and other lactose intolerant people. In addition, almond milk is used as an ingredient in food & beverage industry for preparing chocolates, yoghurt, frozen desserts, milkshakes, and other milk-based products.
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COVID-19 Scenario Analysis:
The pandemic has affected the raw material supply from suppliers to manufacturers and there has been a shortage of labor which has led to the shutdown of manufacturing units.
The food & beverage industry has the lowest effect and people have a high demand for plant-based healthy food items that have anti-oxidants and are good for the immune system.
The pandemic being considered to start because of animal product consumption has led to many changes in the buying pattern of the people and the demand for vegan products has increased.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The changing lifestyle & food habits of people, rapid urbanization, health consciousness among people, the demand for vegan foods due to an increase in vegan eaters, and various diet trends are impacting the demand of almond milk. Moreover increase in lactose intolerant & hypercholesterolemia people, the demand for beta-casein free milk, the use of almond milk by various processed food & beverage industries in manufacturing milk-based foods, and use in the organic cosmetic industry are the factors driving the global Almond milk market. However, high prices of almonds and allergies and skin irritation with the consumption of almond milk are the major constrains. Innovation in the industry is related to the use of almond milk by different food manufacturers for different uses of milk.
The global Almond milk market trends are as follows:
New product launches to flourish the market
The market leaders and new entrants have come up with new products that have almond milk as a primary ingredient that can be consumed by lactose intolerants and vegan consumers. Danone has come up with flavored milk and shakes, nuts ice-cream, yogurt, and frozen desserts which are made using almond milk. The confectionary shops and bakeries have also started using almond milk for baking almond bread, cookies, pastries, cream liquor, chocolates, and cakes for vegan consumers. In addition, milk chocolate companies often use almond milk as a primary ingredient for fruit and nut chocolates.
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Surge in usage in beauty and personal care industry
The extended use of almond milk in the beauty and personal care industry to formulate advanced skin, hair, and face care products has increased the demand for almond milk. Companies like Unilever, P & G are promoting their products with the ingredient as almond milk and have claimed that almond milk benefits for the skin. The beauty and personal care industry have claimed from research that almond milk keeps the skin hydrated and prevents aging. These new uses of almond milk in different industries have created a new market for almond milk manufacturers.
Key Benefits of the Report:
This study presents the analytical depiction of the global almond milk industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global almond milk market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global almond milk market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global almond milk market analysis based on competitive intensity and how the competition will take shape in coming years.
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Key Players:
Daiya Foods Inc., Hain Celestial Group, Whitewave Foods, Sunopta Inc., Blue Diamond Growers, Hiland Dairy Foods Company, LLC, Galaxy Nutritional Foods Inc., and Tofutti Brands Inc. , Danone, Pacific Foods of Oregon, LLC., Three Trees Organic
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