Retail sales of plant-based products, including almond milk, increased by roughly 27%, or $7 billion, in 2020, according to a report by the Plant-Based Food Association.
PUNE, India — The almond milk market is projected to grow at a compound annual growth rate (CAGR) of 15.2% in the forecast period from 2022 to 2030, according to Straits Research.
Almond milk has a number of benefits, including weight loss, antioxidant rich, lactose-free status and the ability to strengthen bones. Furthermore, people are likely to switch to plant-based beverages as a result of increased greenhouse gas emissions from dairy cows and their waste. Furthermore, manufacturers are introducing new flavors and high-nutrient content to entice their customers.
Despite the fact that the pandemic has had a significant impact on consumer buying, eating and lifestyle choices, sales of plant-based products have increased dramatically, according to Straits. Plant-based milk alternatives such as almond and oat milk have seen an increase in popularity. People have started to consume plant-based goods as a result of a revived interest in fitness and weight loss during the pandemic.
Retail sales of plant-based products increased by roughly 27%, or $7 billion, according to a report by the Plant-Based Food Association. Almond milk is the most popular plant-based milk substitute. As a result, demand for almond milk increased significantly throughout the pandemic.
Almond Milk Market by Type
As the demand for almond-based formulations, blends and flavors grows, manufacturers will have opportunities to produce novel almond-based formulations, blends and flavors, according to Straits. Nutrients are essential in almond milk, but flavor and texture are both important. Vanilla, chocolate, unsweetened almond milk and more tastes are available in the market. As a result, companies have been driven to create new tastes in order to attract more customers. Blue Diamond, for example, has a wide range of flavors, including a hint of honey, chocolate and reduced sugar vanilla.
Almond Milk Market by Packaging Type
Moreover, unlike plastic and paper, glass is easily recyclable and has a longer life cycle with a smaller carbon footprint. The milk bottles can be reused multiple times, reducing the amount of waste sent to landfills. Because today’s generation is more aware of the negative impacts caused by waste, they prefer glass bottles than cartons.
Almond Milk Market by Distribution Channel
By the distribution channel, supermarkets and hypermarkets own the largest market share. The manufacturers are improving their network and distribution strategy to reach supermarkets and hypermarkets. The supermarket and hypermarket owners are expanding their product variety to compete online. The e-commerce segment is expected to grow significantly due to the increasing internet and smartphone penetration. The market competition between supermarkets and e-commerce is expected to depend on the variety of products available. 
Almond Milk Market by Application 
Beverage, as an application, accounts for the largest share of almond milk. The demand for plant-based beverages is growing in the APAC region, specifically in India and China. The increasing demand for almond beverages is attributed to improved income and health consciousness. Moreover, consumers have become aware of the health benefits of these beverages, and thus, have adopted plant-based beverages. According to the Tetra Pak, the global plant-based beverages market is expected to grow around $19.7 billion by 2023.
Almond Milk Market by Regions
North America dominates the almond milk market due to the increasing intolerance for lactose and changing preference towards healthy food among people. North America ranks second in plant-based milk production and was valued at about $4.5 billion in 2021. 
The report covers a wide range of topics specific to each of Vital Farms’ stakeholder groups, including investments in the company's crew members to foster a people-first culture, progress toward the company’s diversity, equity and inclusion strategy and more.
AUSTIN, Texas — Last week, Vital Farms, a Certified B Corporation that offers a range of ethically produced foods nationwide, published its inaugural Sustainability Report, a comprehensive overview of the company’s environmental, social and governance (ESG) progress with respect to each of its stakeholders, including farmers and suppliers, crew members, customers and consumers, communities and the environment and stockholders.
“While ESG is a relatively new journey for us, we have a long history of prioritizing areas like environmental conservation, human capital, community and much more through our business model, which is rooted in stakeholder capitalism,” said Joanne Bal, Vital Farms’ general counsel, corporate secretary and head of environmental, social and governance. “Our inaugural Sustainability Report is a detailed and data-driven look at the impact we’ve had on each of our stakeholder groups, demonstrating how we’ve grown our business while progressing our purpose to improve the lives of people, animals and the planet through food. We look forward to the next phase of this work by publishing concrete, measurable goals for our top ESG issues, developing operational plans to meet these targets and publicly reporting our progress.”
The report covers a wide range of topics specific to each of Vital Farms’ stakeholder groups. This includes investments in Vital Farms’ crew members to foster a people-first culture, progress toward the company’s diversity, equity and inclusion strategy, measurement of carbon emissions, a water risk analysis, a materiality matrix and performance on ESG issues in accordance with Sustainability Accounting Standards Board (SASB) standards.
To read the full report, visit:
Smith brings more than 35 years of consumer packaged goods experience.
VANCOUVER, B.C., Canada — Plant Veda Foods Ltd., a dairy-alternative food manufacturer, announced that Greg Smith will be its vice president of global sales.
On Nov. 9, 2021, the company announced the hiring of plant manager Mehdi Gohardehi to ramp up production.
In preparing for increased production, the company has hired Smith to assist with increasing distribution by leveraging his existing strong relationships with major retailers such as Costco and Save-On-Foods. Smith brings more than 35 years of consumer packaged goods experience, having worked for such companies as Ocean Brands, Silver Hills Organic Breads, Canada Bread and Clover Leaf Seafood.
He has been responsible for strategic development, consumer marketing, new product development, international procurement, corporate development and has successfully led sales expansion programs in North American and international markets.  
Smith is an accomplished speaker through his work with Toastmasters International and has lent his expertise in the classroom with training organizations such as Dale Carnegie and Junior Achievement.
“I have spent my professional career in the packaged food industry and have seen many changes in consumers requirements and desires,” Smith said. “Today’s consumers, through health education, are more aware and concerned about what their bodies absorb. They read ingredient labels more than ever. Plant Veda’s products are designed to provide the purest of whole foods for health conscious individuals. I am impressed with the high quality standards that Plant Veda adheres to and am pleased to be part of the team. I feel we have the right products at the right time.”
The AIB International subsidiary also added four new members to it board of directors with the goal of broadening quality assurance and food safety expertise.
MANHATTAN, Kan. — AIB International Certification Services, which is dedicated to performing GFSI certification audits for the global food supply chain, announced that Daniel Baldwin has been elected as chairperson of its board of directors. Baldwin, a resident of Tombstone, Ariz., is a veteran of the professional pest prevention and food safety industries, and vice president of technical and training services of Hawx Pest Control headquartered in Ogden, Utah.
AIB International Certification Services is a wholly owned subsidiary and separate entity from AIB International. With the purpose of elevating safety and integrity throughout the food supply chain, the company offers certification services for food manufacturing, packaging and storage and distribution.
Additionally, AIB International also welcomes four new members to the board of the AIB Certification Services: Christopher (Chris) Beck, vice president of finance of Sporting Kansas City; Lael W. Hamilton, manager packaging engineer of The Kroger Co.; Trish Lequier, senior director of food safety of Loblaw Companies Limited; and Stephen (Steve) Thome, owner and food safety consultant of SMT Food Safety Solutions.
The $2.6 billion transaction is expected to close in second half of 2022.
Bayer and Cinven have entered into a definitive agreement regarding the sale of Bayer’s Environmental Science Professional business for a purchase price of $2.6 billion, Bayer announced in a news release.
“This divestment represents a very attractive purchase price and allows us to focus on our core agricultural business and the successful implementation of our Crop Science Division growth strategy,” said Rodrigo Santos, member of the board of management of Bayer AG and President of the Crop Science Division.
Environmental Science Professional is a global leader offering environmental solutions to control pests, diseases and weeds in non-agricultural areas such as vector control, professional pest management, vegetation management, forestry, and turf and ornamentals. In 2021, the business had approximately 800 employees supporting operations and sales in more than 100 countries. It is headquartered in Cary, North Carolina. Bayer had announced its decision to divest the business in February 2021.
“Driven by a shared belief in people and purpose, Cinven will enable the Environmental Science Professional business to advance towards its vision of healthy environments for everyone, everywhere. We are convinced by Cinven’s focus and its commitment to the long-term growth potential for the business and its people,” Santos said.
The transaction is expected to close in the second half of this year, subject to the satisfaction of customary closing conditions. Its net proceeds are to be used to reduce Bayer’s net financial debt.
“Bayer’s Environmental Science Professional business is a global leader in a highly attractive and critical industry. We thank Bayer for the trust they have placed in Cinven and plan to build on the strong foundations established by Bayer by significantly investing in it,” said Pontus Pettersson, partner and head of industrial at Cinven. “As a long-established global investment firm, Cinven is well positioned to continue to drive innovation and accelerate growth at Environmental Science Professional, including the delivery of digital and data-enabled solutions, as well as make the business more agile in responding to the unique needs of its markets and customers.”
In a press release from Cinven, Gilles Galliou, CEO of Bayer’s Environmental Science Professional business, said, “Everything we do at Environmental Science Professional is guided by our vision of healthy environments for everyone everywhere. Cinven clearly shares this vision for our organization and Cinven has demonstrated that it is committed to the long-term success of our business and would be a great home for our employees.
About Cinven
Cinven is an international private equity firm focused on building world-class global companies. Its funds invest in six key sectors: Business Services, Consumer, Financial Services, Healthcare, Industrials and TMT (Technology, Media and Telecommunications). Cinven has offices in London, New York, Frankfurt, Paris, Milan, Madrid, Guernsey and Luxembourg. Cinven says it takes a responsible approach towards its portfolio companies, their employees, suppliers, local communities, the environment and society. 
In a Cinven press release, the Cinven’s Industrials Sector and DACH teams said it sees Bayer Environmental Science Professional as an attractive investment opportunity, given the business’:


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