Latin America Almond Drinks Market was worth USD xx billion in 2021 and estimated to be growing at a CAGR of xx%, to reach USD xx billion by 2026.
Almond Drinks are extracted from almonds and have a creamy texture and nutty flavor. They do not have lactose, hence it is highly preferred by consumers who are lactose intolerant and individuals avoiding dairy products, including vegan consumers.
Almond drinks are the most consumed alternative to milk worldwide which has propelled the growth of sales over the recent years. Dietary restrictions might also be playing an important role in the rise of almond drinks in the recent times, as the drinks lack high amount of lactose when compared with milk-based products and traditional milk. They are also rich in protein and contain low amount of calories which helps to reduce the risk of heart disease.
The driving factors of Latin America Almond Drinks market are rising demand for lactose-free food products due to their ease of digestion, increasing incidences of lactose intolerance, growing awareness of customers about lactose-free food products and manufacturers offering various dairy products among others. The key factor propelling the growth of this market is rising incidence of lactose intolerance.
The Latin America Almond Drinks market is segmented based on form, distribution channel, flavor, application and region. The market is divided on the basis of form as plain sweetened form and plain unsweetened form. On the basis of flavour, the market is divided into chocolate and vanilla segments. By distribution channel the market is categorised into supermarket/hypermarket, online stores, retail stores, and others. On the basis of application, the market is divided into desserts, cheese, and snacks and beverages.
Geographically the Latin America Almond Drinks Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Factors such as rising incidence of lactose intolerance and increasing awareness about the nutritional benefits offered by almond drinks are expected to propel the market growth in the region.
Key Players in the Market:
Major Key Players in the Latin America Almond Drinks Market are
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