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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Nut Milk Market Size
The global nut milk market reached a value of approximately USD 12.59 billion in 2023. The market is projected to grow at a CAGR of 11.40% between 2024 and 2032, reaching a value of around USD 33.25 billion by 2032.
| Global Nut Milk Market Report Summary | Description | Value |
| Base Year | USD Billion | 2023 |
| Historical Period | USD Billion | 2018-2023 |
| Forecast Period | USD Billion | 2024-2032 |
| Market Size 2023 | USD Billion | 12.59 |
| Market Size 2032 | USD Billion | 33.25 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 11.4% |
| CAGR 2024-2032 - Market by Region | North America | 12.1% |
| CAGR 2024-2032 - Market by Country | Canada | 13.9% |
| CAGR 2024-2032 - Market by Country | India | 13.0% |
| CAGR 2024-2032 - Market by Distribution Channel | Online Retail Stores | 16.8% |
| CAGR 2024-2032 - Market by Form | Liquid | 11.7% |
| Market Share by Country 2023 | Canada | 2.5% |
Nut Milk Market Outlook
- According to the NSW government, the Californian almond industry is responsible for approximately 80% of global almond production.
- As per industry reports, in 2022, the Philippines produced 217,583 million tons of cashews.
- The Department of Cashew Cultivation and Development reported that in 2020-2021, cashew production in Thailand amounted to 24,320 million tons.
Nut Milk Market Report Snapshots
Nut Milk Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The nut milk market was valued at USD 12.59 billion in 2023.
The nut milk market is projected to grow at a CAGR of 11.40% between 2024 and 2032.
The revenue generated from the nut milk market is expected to reach USD 33.25 billion in 2032.
The major market drivers include multi-functionality of nut milks, increased availability, and rising usage in various recipes.
The key trends of the market are shifting preference to vegan diets, rising cases of digestive issues, and growing prevalence of lactose intolerance and lactose allergies worldwide.
The market key players are Blue Diamond Growers, Pacific Foods of Oregon, LLC., MALK Organics LLC, Mariani Nut Company, and Goya Foods, Inc., among others.
A nut milk is a creamy beverage obtained from nuts by soaking in water and then blending.
Nut milk provides vitamin A, calcium, vitamin D, and vitamin E to the consumer, helping them to stay fit and healthy.
The global nut milk market is segmented based on product type, distribution channel, form, and region.
The market is categorised according to the product type, which includes coconut milk, almond milk, cashew milk, walnut milk, and others.
The market is categorised according to the form, which includes liquid and powder.
Based on the distribution channel, the market is divided into hypermarkets and supermarkets, speciality retail stores, online retail stores, food service, convenience stores, and others.
The market is broken down into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
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