NEW
YORK, July 8, 2024 /PRNewswire/ -- The
global walnut milk market size is estimated to grow by
USD 1.15 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 14.76% during the forecast period. Rising cases of
lactose intolerance and allergies associated with soy, hazelnut,
and almond milk is driving market growth, with a trend
towards growing demand for sugar-free and organic walnut milk.
However, availability of substitutes poses a challenge.
Key market players include Borges International Group SLU,
California Walnuts, Elmhurst Milked Direct LLC, Hebei Chengde Lolo
Co. Ltd., Hebei Yangyuan ZhiHui Beverage Co. Ltd., Inner Mongolia
Yili Industrial Group Co. Ltd., Mariani Nut Co., RITA Food and
Drink Co. Ltd., Simple Foods Co. Ltd., and TH Food Chain Joint
Stock Co..
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Walnut Milk
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
14.76%
|
Market growth
2024-2028
|
USD 1151.1
million
|
Market
structure
|
Concentrated
|
YoY growth 2022-2023
(%)
|
12.55
|
Regional
analysis
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
North America at
35%
|
Key
countries
|
US, China, Germany,
Canada, and UK
|
Key companies
profiled
|
Borges International
Group SLU, California Walnuts, Elmhurst Milked Direct LLC, Hebei
Chengde Lolo Co. Ltd., Hebei Yangyuan ZhiHui Beverage Co. Ltd.,
Inner Mongolia Yili Industrial Group Co. Ltd., Mariani Nut Co.,
RITA Food and Drink Co. Ltd., Simple Foods Co. Ltd., and TH Food
Chain Joint Stock Co.
|
Market Driver
The global walnut milk market is experiencing growth due to
increasing consumer preferences for sugar-free and organic
beverages. With obesity rates on the rise and health consciousness
becoming a priority, vendors are introducing sugar-free walnut milk
to expand their consumer base. Simultaneously, the demand for
organic walnut milk is surging as consumers seek healthy, premium
products. Small-scale producers may face challenges in obtaining
organic certification, but the higher price point offers additional
income. Export opportunities exist in regions like South America and MEA, where local brands are
limited and consumers are becoming more informed about their food
choices. These trends are expected to continue, driving the growth
of the global walnut milk market during the forecast period.
Vendors such as Alpine Pacific Nut Co., Grower Direct Nut Co. Inc.,
Guerra Nut Shelling Co. Inc., Poindexter Nut Company, and Andersen
Shelling Inc. Are capitalizing on these trends by offering more
organic walnut milk varieties.
The Walnut Milk market is experiencing a significant surge due
to the increasing demand for plant-based products. With the itching
sensation towards animal-based products, elderly population, and
lactose intolerant individuals seeking alternatives, retail shelves
in hypermarkets and supermarkets are seeing a shift. Digital
shopping facilities and e-commerce platforms are also stocking up
on nutritious Pure Walnut Milk, Mixed Walnut Milk, Unsweetened,
Original, Chocolate, and Vanilla variants. Private entities are
capitalizing on this trend, offering nutrient-rich, additive-free,
and sustainable options. Environmental concerns and health issues,
including obesity, hair loss, and chronic diseases, are driving the
demand for plant-based milk substitutes. Walnut Milk, packed with
essential fatty acids, protein, and calcium, is a popular choice.
It's a delicious and creamy alternative to dairy milk, Greek
yogurt, or ultra-filtered milk. With its nutty flavor profile, it's
perfect for adults and children, and can even be used in stress
reduction diets. So, let's toast to Goodness, one nut at a
time!
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Market Challenges
- The walnut milk market faces significant competition from
various plant-based milk alternatives, including functional
beverages and dairy products. Brands offer a wide range of options
such as soy, almond, oat, rice, potato, coconut, hemp, hazelnut,
and cashew milk. Consumers prefer these alternatives due to lactose
intolerance, veganism, or the belief that they offer health
benefits. Recent launches of plant-based milk alternatives include
Hershey India's Sofit Almond drink, Fooditive Group's GoPeasy
pea-based beverage, and Nestle SA's dairy-free beverages in
Asia. Starbucks Corp. Also
introduced dairy-free beverages in the US. Additionally,
alternatives like fermented milk beverages, energy drinks,
fruit-based health drinks, and immunity-boosting beverages pose a
challenge to walnut milk. These alternatives cater to diverse
consumer preferences and are frequently launched in the
market.
- The Walnut Milk market is experiencing significant growth due
to the rising trend of plant-based diets and health-conscious
consumers. In the Kitchen, Walnut Milk is increasingly used in
Smoothies, Baking, and even as a Coffee Creamer. As a plant-based
dairy substitute, it caters to Lactose Intolerance and Allergies,
providing an alternative to traditional Dairy Products. The
Nutritional Profile of Walnut Milk, rich in Vitamins and Minerals,
Nuttiness, and Low Sugar Content, makes it an ideal choice for
those following High-Protein Diets, Keto Diet, or a Plant-Based
Lifestyle. In the Personal Care Sector, it is used in Anti-Aging
Products. However, challenges persist. Walnut Milk's production
requires Sustainable Sourcing Methods and Eco-Friendly Operations.
Ethical Sourcing is crucial to address Animal Welfare concerns.
Labeling Transparency is essential to cater to Allergens, such as
Nuts, and to ensure consumers with Rashes or Dermatitis are aware.
Eco-Friendly Packaging is also a priority for Environmentally
Sustainable operations. Organic Walnut Milk, Flavored Variants, and
Lattes continue to gain popularity, driving market growth.
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challenges - Request a sample report!
Segment Overview
This walnut milk market report extensively covers market
segmentation by
- Distribution Channel
- Geography
- 2.1 North America
- 2.2 Europe
- 2.3 APAC
- 2.4 South America
- 2.5 Middle East and
Africa
1.1 Offline- In the global walnut milk market, the
offline distribution channel held the largest market share in 2023.
This dominance is primarily due to the effectiveness of offline
channels for allowing customers to examine products before
purchasing. In developing countries like India and China, physical stores, including
hypermarkets, supermarkets, and convenience stores, are the primary
sales channels for walnut milk. An increase in the number of these
retail outlets drives sales, with ample shelf space accommodating
various walnut milk brands and flavors from vendors such as Alpine
Pacific Nut Co. Inc., Grower Direct Nut Co. Inc., Guerra Nut
Shelling Co. Inc., Poindexter Nut Company, and Andersen Shelling
Inc. These vendors sell their products in popular retailers like
Avenue Supermarts Ltd. (DMart), Trent Hypermarket Pvt. Ltd.
(Star Bazar), Hypercity Retail
Indian Ltd., Reliance Retail Ltd. (Reliance Fresh), Spar
International, Spencers Retail Ltd., and More Retail Pvt. Ltd.
Despite a decline in offline sales due to the shift to online
shopping, vendors expand their presence in local and regional
markets to fuel sales. Retailers introduce competitive pricing
strategies and wider assortments to sustain in the market. For
instance, Tesco PLC offers an extensive walnut milk product
portfolio in the UK. Vendors also expand their geographic reach to
boost sales and grow the global walnut milk market. Despite the
COVID-19 pandemic's negative impact on offline sales in 2020, the
reopening of retail stores in H2 2021 has increased demand for
packaged food and beverage products, including walnut milk, driving
market growth.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
Walnut milk is a plant-based milk substitute that has gained
popularity in recent years due to its health benefits and delicious
taste. Made from soaked and blended walnuts, it is a lactose-free
alternative for those with dairy allergies or following a vegan or
plant-based diet. Walnut milk is rich in healthy fats, including
omega-3 and omega-6 fatty acids, making it an excellent addition to
a healthy lifestyle. It also contains protein, making it a popular
choice for high-protein diets and the Keto diet. In the personal
care sector, walnut milk is used in anti-aging products for its
nourishing properties. With flavors ranging from Original and
Unsweetened to Chocolate and Vanilla, walnut milk can be enjoyed in
various ways, from adding it to smoothies to using it in the
kitchen for baking and cooking. Mixed walnut milk is another
popular variation, offering a unique texture and flavor profile.
Suitable for both adults and children, walnut milk is a versatile
and nutritious addition to any diet.
Market Research Overview
Walnut milk, a delicious and nutritious plant-based milk
alternative, is gaining popularity among health-conscious consumers
seeking lactose-free options. Made from soaked and blended walnuts,
it's a great choice for those with allergies or intolerances to
dairy products. This high-protein, high-calcium beverage is also
ideal for individuals following plant-based diets, including
vegans, keto, and stress reduction diets. Walnut milk is also
beneficial for the elderly population, offering nutrients essential
for bone health, immunity, and digestive system support. With its
creamy texture and nutty flavor profile, it's perfect for
smoothies, baking, cooking, coffee, and even as a dairy substitute
in recipes. Walnut milk is free from added sugars, additives, and
common allergens like soy and nuts. It's also eco-friendly, making
it a popular choice for those concerned about animal welfare and
environmental sustainability. With flavored variants like
Chocolate, Vanilla, Unsweetened, Original, and Pure Walnut Milk,
there's a delicious option for every taste preference. Enjoy the
benefits of walnut milk for your health, personal care, and the
planet! Note: This content is meant to provide a general overview
of Walnut Milk and its benefits. For specific health concerns, it's
always best to consult a healthcare professional or a
nutritionist.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research
and advisory company. Their research and analysis focuses on
emerging market trends and provides actionable insights to help
businesses identify market opportunities and develop effective
strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio