Global Walnut Milk Market Report and Forecast 2024-2032

Global Walnut Milk Market Outlook

The global walnut milk market size is estimated to expand at a CAGR of 8.10% in the forecast period of 2024-2032. The major market drivers are growing consumer awareness regarding lactose intolerance and allergies and the rising awareness regarding multiple health benefits provided by walnut milk.

Key Trends in the Market

Walnut milk is an alternative to conventional milk sourced from animals which is made by blending soaked walnuts with water. It is rich in protein and calcium, has low calories, and is a perfect option for people who are vegan or lactose intolerant.

• Growing demand for plant-based milks due to the absence of allergens, surging concerns regarding animal welfare, and the rising trend of veganism is one of the crucial walnut milk market trends. Walnut milk is also a preferred choice among consumers attempting to reduce animal-based product consumption from their diet.

• Organic food products are gaining popularity due to a rise in consumer awareness regarding the negative impact of synthetic products on health and the environment. Several health-conscious consumers are seeking out organic walnut milk as they do not contain any harmful chemicals or antibiotics.

• The walnut milk market growth can be attributed to the increasing attempts by key players to introduce new flavours of the product to enhance consumer appeal and stay ahead of their competitors. Some of these innovative products include spiced, turmeric, and cinnamon-infused walnut milk, among others.

Market Analysis

Based on flavour, the market is classified into original, chocolate, and vanilla, among others. On the basis of type, the market is bifurcated into sweetened and unsweetened. The walnut milk market segmentation, based on distribution channel, includes supermarkets/hypermarkets, convenience stores, speciality stores, and online, among others. The major regional markets of walnut milk are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the walnut milk market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Elmhurst Milked Direct LLC

• Borges International Group, S.L.

• Inner Mongolia Yili Industrial Group (Yili)

• Hebei Yangyuan Zhihui Beverage Co., Ltd.

• Mariani Nut Company

• Simple Foods Co., Ltd. (137 Degrees)

• TH Food Chain Joint Stock Company

• Rita Food And Drink Co., Ltd.

• Vinamilk

• Others

Market Share by Distribution Channel

Supermarkets/hypermarkets occupies a significant portion of the global walnut milk market share owing to their growing presence globally. Supermarkets are usually located in an accessible location, which makes it convenient for customers to buy food products. Furthermore, diverse flavours and variants of food and beverages, including walnut milk, are available at supermarkets and hypermarkets. Additionally, the mainstreaming of plant-based products drives sales of walnut milk from such channels.

Market Share by Region

As per the regional walnut milk market analysis, North America accounts for a substantial share of the global market due to the growing number of health-conscious consumers in the region. Furthermore, the rise in vegan culture and the shift towards plant-based diets also positively impact the walnut milk demand. Additionally, the adoption of new technology in the food sector and growing attempts by key players to develop new flavours of walnut milk are likely to fuel the market in the coming years.

Competitive Landscape

Elmhurst Milked Direct LLC, established in 1925 and based in New York, the United States, is a plant-based food and beverage manufacturer. Some of its popular products include almond milk, cashew milk, oat milk, and hazelnut milk, among others.

Borges International Group, S.L. is a family-owned food company of Mediterranean origin. The company, headquartered in Catalonia, Spain, provides milk alternatives, vegetable drinks, sauce, and pasta, among others.

Inner Mongolia Yili Industrial Group (Yili), incorporated in 1993 with its headquarters in Inner Mongolia, China, is a dairy company. The company provides plant-based milk, milk powder, yoghurt, and ice cream, among others.

Other walnut milk market players include Hebei Yangyuan Zhihui Beverage Co., Ltd., Mariani Nut Company, Simple Foods Co., Ltd. (137 Degrees), TH Food Chain Joint Stock Company, Rita Food And Drink Co., Ltd., and Vinamilk, among others.

Key Highlights of the Report