Market Size of north america almond milk Industry
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Study Period | 2017 - 2029 |
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Market Size (2024) | USD 2.72 Billion |
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Market Size (2029) | USD 4.58 Billion |
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Largest Share by Distribution Channel | Off-Trade |
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CAGR (2024 - 2029) | 10.96 % |
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Largest Share by Country | United States |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
North America Almond Milk Market Analysis
The North America Almond Milk Market size is estimated at 2.72 billion USD in 2024, and is expected to reach 4.58 billion USD by 2029, growing at a CAGR of 10.96% during the forecast period (2024-2029).
2.72 Billion
Market Size in 2024 (USD)
4.58 Billion
Market Size in 2029 (USD)
7.14 %
CAGR (2017-2023)
10.96 %
CAGR (2024-2029)
Largest Market by Distribution Channel
92.45 %
value share, Off-Trade, 2023
The growth of segment in the country is largely driven with the existence of an inviting place for customers to shop, as they are constantly drawn to make large purchases.
Largest Market by Country
83.57 %
value share, United States, 2023
Higher purchasing power, the inclusion of dairy products in most of their consumption patterns, and high productivity are some of the major factors driving the U.S market.
Fastest-growing Market by Distribution Channel
11.19 %
Projected CAGR, Off-Trade, 2024-2029
The onset of the experimential economy and the rising social media platforms with increasing consumer reach in the market is driving the off trade channels through online channels
Fastest-growing Market by Country
14.76 %
Projected CAGR, Mexico, 2024-2029
Wellness remains to be top priority for Mexicans, who increasingly have gravitated to almonds and their products for several health benefits, driving the segmental growth.
Leading Market Player
19.22 %
market share, Danone SA, 2022
Danone SA and its sub-brands have high brand equity in the market with constant enhancement in its offering with gluten free labels, which aids in maintaining its top position.
Easy availability of almond milk through wide retail sector is boosting the growth
- In North America, the rise in lactose intolerance and people's growing preferences for healthy foods are boosting the demand for almond milk sales through retail channels. Almond milk now serves as the leader of innovation in the milk category, supported by key advancements in ingredient diversification and product development that seeks to replicate both the sensory experience and nutritional value of cow's milk. In 2022, the sales value of almond milk through all the distribution channels in North America increased by 7.5% over 2021.
- The off-trade segment dominates the distribution channels of the North American almond milk market. In the off-trade segment, the supermarkets and hypermarkets sub-segment accounted for the majority of the share, amounting to 84.2% by value, in 2022.
- In North America, the United States recorded the highest sales of almond milk through retail channels. The United States is the leading market in North America for online shopping, and online retail stores as a sales channel are gaining popularity among the population. In 2022, the sales of almond milk through e-commerce reached a total of USD 36.86 million, rising from USD 33.22 million in 2021.
- The on-trade channel is the fastest-growing segment in the North American almond milk market, anticipated to grow by 19.3% in 2024 from 2021. Many leading restaurants in the region use plant-based milk, particularly as an optional ingredient in cocktails, smoothies, coffees, and espresso-based drinks. In 2022, there were more than 600,000 restaurants existing in the United States, and the average US household spent USD 2,375 annually on dining and takeout purchases.
Exhaustive production and consumption of almonds and almond milk led by United States remains the key factor
- North America dominated the global almond milk market due to the population's increasing intolerance for lactose, consumers' preferences shifting toward healthy foods, and also higher production of almonds, which rose by an average of 6.7% from 2017 to 2021. The market for plant-based milk accounts for around 10% of the North American milk market, and the increasing number of plant-based milk customers have more options than ever. Almond milk is currently the most preferred and consumed plant-based milk in North America, which accounts for almost two-thirds of the global market.
- The United States is the region's leading almond milk market and is projected to register the fastest Y-o-Y growth rate of 19% by value from 2023 to 2025. The country's higher demand is due to its accounting for the highest production volume of almonds globally, amounting to around 2,002,742 tons annually or 80% of the global almond production. This is resulting in increased production of almond milk every year. Constant product launches are a key factor promoting the sales of almond milk in the country because US consumers are highly keen on trying new products.
- Canada is the second-leading market for almond milk in North America. Governmental support is the primary factor boosting the sales of almond milk in the country. The Canadian government has identified plant-based foods as an important and growing industry and included the plant alternatives industry in its Supercluster Initiative while investing USD 150 million toward its development in 2018. In 2021, another investment of USD 173 million was made. Thus, the Canadian almond milk market is projected to record a Y-o-Y growth rate of 11.08% during the forecast period.
North America Almond Milk Industry Segmentation
Off-Trade, On-Trade are covered as segments by Distribution Channel. Canada, Mexico, United States are covered as segments by Country.
- In North America, the rise in lactose intolerance and people's growing preferences for healthy foods are boosting the demand for almond milk sales through retail channels. Almond milk now serves as the leader of innovation in the milk category, supported by key advancements in ingredient diversification and product development that seeks to replicate both the sensory experience and nutritional value of cow's milk. In 2022, the sales value of almond milk through all the distribution channels in North America increased by 7.5% over 2021.
- The off-trade segment dominates the distribution channels of the North American almond milk market. In the off-trade segment, the supermarkets and hypermarkets sub-segment accounted for the majority of the share, amounting to 84.2% by value, in 2022.
- In North America, the United States recorded the highest sales of almond milk through retail channels. The United States is the leading market in North America for online shopping, and online retail stores as a sales channel are gaining popularity among the population. In 2022, the sales of almond milk through e-commerce reached a total of USD 36.86 million, rising from USD 33.22 million in 2021.
- The on-trade channel is the fastest-growing segment in the North American almond milk market, anticipated to grow by 19.3% in 2024 from 2021. Many leading restaurants in the region use plant-based milk, particularly as an optional ingredient in cocktails, smoothies, coffees, and espresso-based drinks. In 2022, there were more than 600,000 restaurants existing in the United States, and the average US household spent USD 2,375 annually on dining and takeout purchases.
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North America Almond Milk Market Size Summary
The North America almond milk market is experiencing significant growth, driven by increasing lactose intolerance and a shift towards healthier food options. Almond milk has emerged as a leader in the milk category, benefiting from innovations in ingredient diversification and product development that aim to mimic the sensory and nutritional qualities of cow's milk. The market is predominantly supported by the off-trade segment, with supermarkets and hypermarkets holding a substantial share. The United States leads in almond milk sales, with a growing trend towards online retail channels. The on-trade segment is also expanding rapidly, with restaurants incorporating plant-based milk into various beverages. The market's expansion is further fueled by the rising popularity of plant-based diets and the increasing availability of almond milk products.
North America holds a dominant position in the global almond milk market, with the United States and Canada being key players. The United States benefits from high almond production, contributing to its leading market status and rapid growth rate. In Canada, government support for the plant-based food industry has bolstered almond milk sales. The market is characterized by a diverse consumer base, with a significant portion of the population, particularly millennials and Generation Z, opting for plant-based milk due to health and sustainability concerns. The fragmented market features major companies like Agrifoods International Cooperative Ltd, Blue Diamond Growers, Califia Farms LLC, Danone SA, and Hiland Dairy Foods, all contributing to the competitive landscape.
North America Almond Milk Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2029 and analysis of growth prospects)
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1.1 Distribution Channel
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1.1.1 Off-Trade
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1.1.1.1 By Sub Distribution Channels
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1.1.1.1.1 Convenience Stores
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1.1.1.1.2 Online Retail
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1.1.1.1.3 Specialist Retailers
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1.1.1.1.4 Supermarkets and Hypermarkets
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1.1.1.1.5 Others (Warehouse clubs, gas stations, etc.)
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1.1.2 On-Trade
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1.2 Country
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1.2.1 Canada
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1.2.2 Mexico
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1.2.3 United States
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1.2.4 Rest of North America
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North America Almond Milk Market Size FAQs
How big is the North America Almond Milk Market?
The North America Almond Milk Market size is expected to reach USD 2.72 billion in 2024 and grow at a CAGR of 10.96% to reach USD 4.58 billion by 2029.
What is the current North America Almond Milk Market size?
In 2024, the North America Almond Milk Market size is expected to reach USD 2.72 billion.
