Market Research Report
Asia-Pacific Walnut Milk Market - Growth, Trends and Forecast (2022 - 2027)
|Asia-Pacific Walnut Milk Market - Growth, Trends and Forecast (2022 - 2027)|
Published: January 17, 2022
Mordor Intelligence Pvt Ltd
Content info: 80 Pages
Delivery time: 2-3 business days
Asia-Pacific walnut milk market is projected to grow at a CAGR of 6.01% during the forecast period (2021 - 2026).
The health-conscious consumers in the region appear to be getting rid of low-fat diets for higher-fat foods with an aim to improve heart health and losing weight at a same time, thus, opting paleo diet, keto diet and others. Thus, giving rise to the consumption of walnut milk that are high in fat and protein but low in carbs. Therefore, as a growth strategy, the manufacturers are targeting the such consumer groups owing to their restricted diet to only green vegetables, eggs, poultry, meat, salads, seafood, cooking oil, specific dairy items, walnut and others, which certainly allows the inclusion of low-carb walnut milk in the diet. The consumers of the region find full-fat dairy to completely fit into their version of Paleo, however, it is not an option for everyone, especially the lactose intolerant groups, which ultimately drives the demand for walnut milk to be included in the paleo or keto diet of the consumers. Additionally, as walnut milk is rich in antioxidants and a great source of essential fatty acids and fiber, it further entices the consumers seeking to add better nutritional food products in their diet. Therefore, the rising health consciousness driving the demand for paleo and keto diet will run the market studied in the forecast period also.
China is the leading producer as well as consumer of walnut milk in the market studied owing to the presence of numerous players in the country. The surging demand for plant-based milk, primarily, walnut milk owing to its higher nutritional content has enticed the local manufacturers to establish their presence in the market to generated larger profits. Moreover, to establish their business in the walnut milk category, the local players are easily obtaining funds from the government and private authorities. For instance, Yangyuan, a Chinese company, successfully obtained almost USD 630 million funding for its walnut milk product. As a result, the walnut milk market in China is dominated by local players such as Yili Group and Hebei Yangyuan Zhihui Beverage Co., Ltd. Additionally, as the consumers of the nation are highly tending towards increasing the consumption of protein in their diet, it further drove the demand for walnut milk in the country.
The Asia-Pacific walnut milk market is driven by both global as well as local players. However, the local players hold significant share of the market supported by their extensive product portfolio coupled with continuous innovation in the sector. Elmhurst Milked Direct LLC., Yili Group, Simple Foods Co., Ltd. (137 Degrees) are some of the major players in the market studied. As a growth strategy, the players have been observed to focus on products launch, expansion, partnership, mergers, and acquisition to establish their presence in the regional market.