According to Digital Journal, the global almond milk market is projected to reach $2.68 billion. It’s a project that is rapidly changing the foodscape as its manufacturing and popularity are both largely due to increased consumer demand for healthier, dairy-free, and vegan alternatives. In addition, allergies have become a large concern, as increasingly folks are lactose-intolerant — which is not unusual, given that cow and other farmed animals’ milk are biologically formulated for babies of their species.
Global analysis of growth, trends, and opportunity all show positive things for almond milk. With a growing interest in living a healthy lifestyle, a demand for on-the-go products, and the consistent rise in vegan consumers, almond milk’s sales and potential are respectively rising.
The report explains, in greater detail:
“Evolving economic standards and social habits coupled with trend of fast-food consumption has considerably impacted the growth of in-store restaurants, take-away shops, or pub- restaurants. Today, Almond Milk is commercially available in great abundance and is far beyond the concept of convenience. Socio-economic factors, demographic trends, changing dietary pattern, industrial players focusing on youth marketing considering the food habits of youth are certain factors supporting the sales of Almond Milk at the global level.”
The analysis suggests that “Asia-pacific will be the fastest growing region in the almond milk market and high growth in emerging economies such as China, India, [and] Japan.” It’s estimated that this region will reach $2.16 billion by 2022. The beverages segment of the market — as opposed to the foods segment (presumably foods made with almond milk) — is projected to reach $2.68 billion by the end of 2022.
What these numbers suggest, simply, is that the market for almond milk is increasing. More people are dropping products made with or by animals and are, instead, opting for healthier, plant based alternatives. If these trends continue, we can expect to see consistent growth in the almond milk market, and other vegan markets, for years to come.