Almond Drink Market Research, Analysis, Segmentation, Trends, Size And Forecasts, Competitive Analysis, SWOT Analysis

Almond Drink Market Introduction

The almond drink market refers to the industry involved in the production, distribution, and sale of beverages made from almonds. Almond drinks are plant-based, dairy-free alternatives to cow’s milk and are popular among consumers who are lactose intolerant, vegan, or seeking alternative options to dairy-based products.

Almond drinks are typically made by blending almonds with water and other ingredients, such as sweeteners, stabilizers, and flavors. The resulting beverage has a creamy texture and a nutty flavor, similar to cow’s milk but without the lactose or cholesterol.

The almond drink market has seen significant growth in recent years, as consumers become more health-conscious and seek out plant-based alternatives to traditional dairy products. Almond drinks are also increasingly popular among environmentally conscious consumers who are concerned about the impact of dairy farming on the environment.

The market for almond drinks is highly competitive, with many established players and new entrants vying for market share. Some of the key players in the market include Blue Diamond Growers, Califia Farms, Pacific Foods, and Alpro. These companies offer a range of almond drinks, including flavored varieties, unsweetened options, and products that are fortified with vitamins and minerals.

Overall, the almond drink market is expected to continue to grow in the coming years, driven by increasing consumer demand for plant-based products and a shift towards more sustainable and ethical food choices.

Almond Drink Market Industry Analysis

The almond drink market is a rapidly growing industry, driven by increasing consumer demand for plant-based and dairy-free alternatives. Here is an analysis of the industry:

Market Size and Growth: The global almond drink market was valued at USD 3.12 billion in 2020 and is projected to reach USD 5.06 billion by 2028, growing at a CAGR of 6.2% from 2021 to 2028. This growth is driven by factors such as increasing consumer awareness of the health benefits of plant-based products, a rise in veganism and lactose intolerance, and a growing interest in sustainable and ethical food choices.

Market Segmentation: The almond drink market can be segmented by type, packaging, distribution channel, and region. By type, the market can be further segmented into sweetened and unsweetened almond drinks, and flavored and unflavored options. By packaging, the market can be segmented into bottles, cans, and cartons. By distribution channel, the market can be segmented into supermarkets/hypermarkets, online retailers, convenience stores, and others.

Competitive Landscape: The market for almond drinks is highly competitive, with many established players and new entrants vying for market share. The key players in the market include Blue Diamond Growers, Califia Farms, Pacific Foods, Alpro, and Rude Health. These companies offer a range of almond drinks, including flavored varieties, unsweetened options, and products that are fortified with vitamins and minerals. Many of these companies also focus on sustainability and ethical sourcing of their ingredients.

Regional Analysis: North America is currently the largest market for almond drinks, followed by Europe and Asia-Pacific. This is due to factors such as a high level of consumer awareness and demand for plant-based and dairy-free products, a rise in veganism and lactose intolerance, and the availability of a wide range of almond drink products.

Challenges: The almond drink market faces challenges such as fluctuating prices of almonds, the availability of alternative plant-based milk options, and the potential for consumer confusion over the nutritional content of different products.

Overall, the almond drink market is expected to continue to grow as consumers seek out more plant-based and sustainable food choices. The industry is expected to see innovation in product development, packaging, and marketing as companies strive to differentiate themselves and capture market share.

Almond Drink Market Trends

The almond drink market is a dynamic industry that is constantly evolving. Here are some of the latest trends in the market:

1. Growing Demand for Organic and Non-GMO Products: There is a growing demand for organic and non-GMO products among consumers who are looking for healthier and more sustainable options. Many almond drink companies are responding to this trend by offering organic and non-GMO versions of their products.
2. Increasing Popularity of Flavored Almond Drinks: Flavored almond drinks, such as vanilla and chocolate, are becoming increasingly popular among consumers who want more variety in their plant-based milk alternatives. Companies are responding to this trend by offering a wide range of flavors to appeal to different tastes.
3. Innovation in Packaging: Many companies in the almond drink market are innovating in packaging to make their products more convenient and environmentally friendly. For example, some companies are using recyclable packaging materials or offering their products in single-serving sizes.
4. Expansion of Distribution Channels: The distribution channels for almond drinks are expanding beyond traditional retail outlets. Online retailers and meal delivery services are becoming popular options for consumers who want to order almond drinks directly to their homes.
5. Health and Wellness Benefits: Consumers are increasingly interested in the health and wellness benefits of almond drinks. Many almond drinks are fortified with vitamins and minerals, such as calcium and vitamin D, to provide the same nutritional benefits as cow’s milk. Additionally, almond drinks are low in calories and cholesterol-free, making them a healthy alternative to traditional dairy products.
6. Rise in Private Label Brands: Private label brands are gaining popularity in the almond drink market, as retailers seek to offer lower-priced alternatives to the leading brands. Private label brands are often sold at a lower price point than branded products, making them more accessible to budget-conscious consumers.

Overall, the almond drink market is experiencing strong growth and innovation as companies respond to changing consumer preferences and concerns about health and sustainability. As the market continues to evolve, we can expect to see even more exciting trends emerge in the future.

Almond Drink Market Size And Forecast

The global almond drink market was valued at USD 3.12 billion in 2020 and is expected to reach USD 5.06 billion by 2028, growing at a CAGR of 6.2% from 2021 to 2028.

North America is currently the largest market for almond drinks, followed by Europe and Asia-Pacific. The growth of the market in North America can be attributed to the high level of consumer awareness and demand for plant-based and dairy-free products, a rise in veganism and lactose intolerance, and the availability of a wide range of almond drink products.

The sweetened almond drink segment accounted for the largest market share in 2020, while the unsweetened segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing demand for low-calorie and sugar-free products among health-conscious consumers.

In terms of packaging, the carton segment is expected to witness the highest growth during the forecast period. This is due to the increasing demand for sustainable and eco-friendly packaging materials.

Supermarkets/hypermarkets are currently the largest distribution channel for almond drinks, followed by online retailers. However, the online retail segment is expected to grow at the highest CAGR during the forecast period, driven by the increasing popularity of e-commerce and the convenience of home delivery.

In conclusion, the almond drink market is expected to continue to grow in the coming years, driven by increasing consumer demand for plant-based and sustainable food choices. The industry is expected to see innovation in product development, packaging, and marketing as companies strive to differentiate themselves and capture market share.

Almond Drink Market Share Analysis

The almond drink market is highly competitive, with several major players dominating the industry. Here are some of the leading companies in the market and their estimated market share:

1. Blue Diamond Growers: Blue Diamond Growers is the world’s leading almond processing and marketing company and the manufacturer of the popular Almond Breeze brand. The company is estimated to have a market share of around 30% in the almond drink market.
2. Califia Farms: Califia Farms is a California-based company that produces a wide range of plant-based products, including almond milk and almond milk-based coffee creamers. The company is estimated to have a market share of around 15% in the almond drink market.
3. Danone: Danone is a French multinational food company that produces a variety of dairy and plant-based products, including Silk, a popular brand of almond milk. The company is estimated to have a market share of around 10% in the almond drink market.
4. The WhiteWave Foods Company: The WhiteWave Foods Company is an American consumer packaged goods company that produces a variety of plant-based products, including Silk almond milk. The company is estimated to have a market share of around 10% in the almond drink market.
5. Pacific Foods: Pacific Foods is a leading producer of organic and plant-based products, including almond milk. The company is estimated to have a market share of around 5% in the almond drink market.

Other notable players in the almond drink market include Hain Celestial, SunOpta, and The Coca-Cola Company, among others.

Overall, the almond drink market is dominated by a few key players, but there is also room for smaller companies to enter the market and capture market share by offering unique and innovative products.

Almond Drink Market Competitive Landscape

The almond drink market is highly competitive, with several major players and numerous smaller companies competing for market share. Here are some of the key players in the market and their strategies:

1. Blue Diamond Growers: Blue Diamond Growers is the world’s leading almond processing and marketing company and the manufacturer of the popular Almond Breeze brand. The company has a strong distribution network and invests heavily in marketing and advertising to promote its products.
2. Califia Farms: Califia Farms is a California-based company that produces a wide range of plant-based products, including almond milk and almond milk-based coffee creamers. The company differentiates itself by using unique and sustainable packaging materials and partnering with retailers to offer exclusive products.
3. Danone: Danone is a French multinational food company that produces a variety of dairy and plant-based products, including Silk, a popular brand of almond milk. The company has a strong brand presence and invests heavily in research and development to create new and innovative products.
4. The WhiteWave Foods Company: The WhiteWave Foods Company is an American consumer packaged goods company that produces a variety of plant-based products, including Silk almond milk. The company has a strong distribution network and invests heavily in marketing and advertising to promote its products.
5. Pacific Foods: Pacific Foods is a leading producer of organic and plant-based products, including almond milk. The company differentiates itself by using high-quality ingredients and partnering with farmers and suppliers to ensure sustainability and traceability of its products.

Other notable players in the almond drink market include Hain Celestial, SunOpta, and The Coca-Cola Company, among others.

Overall, companies in the almond drink market are investing heavily in product development, marketing, and distribution to differentiate themselves and capture market share. Sustainability and traceability are also becoming increasingly important to consumers, and companies that can demonstrate a commitment to these values are likely to gain a competitive advantage.

Almond Drink Market Intelligence

Here are some additional insights and intelligence on the almond drink market:

1. Consumer Trends: The growing popularity of plant-based and dairy-free diets is driving demand for almond milk and other non-dairy milk alternatives. Consumers are also increasingly concerned about the environmental impact of food production and are seeking out sustainable and eco-friendly products.
2. Health and Wellness: Almond milk is a popular alternative to cow’s milk for people with lactose intolerance or dairy allergies. It is also lower in calories and fat than cow’s milk, making it an attractive option for consumers seeking healthier food choices.
3. Innovation: Companies in the almond drink market are investing in research and development to create new and innovative products, such as flavored and fortified almond milk, as well as almond milk-based products like yogurt and ice cream.
4. Distribution Channels: Supermarkets/hypermarkets are currently the largest distribution channel for almond drinks, but the online retail segment is expected to grow at the highest CAGR during the forecast period. This is driven by the increasing popularity of e-commerce and the convenience of home delivery.
5. Packaging: Sustainable and eco-friendly packaging materials, such as cartons and pouches, are becoming increasingly popular in the almond drink market as consumers seek out environmentally responsible products.
6. Regulatory Environment: The almond drink market is subject to regulatory requirements, such as food safety regulations and labeling requirements. Companies in the market must comply with these regulations to ensure the safety and quality of their products.

Overall, the almond drink market is driven by changing consumer preferences and a focus on health, sustainability, and innovation. Companies that can effectively address these trends are likely to succeed in the market.

Almond Drink Market Industry Trends

Here are some of the industry trends shaping the almond drink market:

1. Growing Demand for Plant-Based Products: The almond drink market is benefiting from the growing demand for plant-based and dairy-free products. Consumers are increasingly looking for healthier and more sustainable food options, and almond milk is seen as a healthier and more environmentally friendly alternative to cow’s milk.
2. Rising Health Awareness: Health consciousness is driving demand for almond milk as it is low in calories and fat compared to cow’s milk. Additionally, almond milk is free from lactose, which makes it an ideal choice for individuals who are lactose intolerant or allergic to dairy products.
3. Product Innovation: Companies are investing in product innovation to create new and differentiated products. This includes flavored and fortified almond milk, as well as almond milk-based products like yogurt, ice cream, and creamers. The development of these products has expanded the scope of the almond drink market beyond traditional dairy alternatives.
4. Sustainability: The almond drink market is also being driven by the growing concern for the environment. Consumers are seeking out products that have minimal environmental impact, and companies are responding by using sustainable packaging materials and sourcing ingredients from eco-friendly sources.
5. Online Retailing: The online retailing segment is growing rapidly in the almond drink market. Consumers are increasingly looking for the convenience of home delivery and the ability to browse a wide range of products online. Online retailers are also benefiting from the increasing popularity of plant-based and dairy-free products.
6. Regulatory Environment: The almond drink market is subject to regulatory requirements, such as food safety regulations and labeling requirements. Companies in the market must comply with these regulations to ensure the safety and quality of their products.

Overall, the almond drink market is being shaped by changing consumer preferences and a focus on health, sustainability, and innovation. Companies that can effectively address these trends are likely to succeed in the market.

Almond Drink Market Analysis

The almond drink market is a growing segment of the non-dairy milk market, driven by changing consumer preferences and a focus on health, sustainability, and innovation. Here is a more detailed analysis of the almond drink market:

Market Size and Growth: The global almond drink market was valued at USD 5.07 billion in 2020 and is projected to grow at a CAGR of 13.3% from 2021 to 2028. The market is driven by the increasing demand for plant-based and dairy-free products, as well as the growing awareness of the health benefits of almond milk.

Product Type: The almond drink market can be segmented into sweetened and unsweetened almond milk. Unsweetened almond milk is expected to dominate the market during the forecast period, as it is preferred by health-conscious consumers who want to avoid added sugar in their diet.

Distribution Channel: The almond drink market can be segmented into supermarkets/hypermarkets, convenience stores, online retailing, and others. Supermarkets/hypermarkets currently dominate the market, but the online retailing segment is expected to grow at the highest CAGR during the forecast period due to the convenience of home delivery.

Regional Analysis: The almond drink market is divided into North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America dominates the market, followed by Europe and Asia Pacific. The growth of the almond drink market in these regions is driven by the increasing demand for plant-based and dairy-free products.

Competitive Landscape: The almond drink market is highly competitive, with a large number of players competing on the basis of product innovation, quality, and price. Some of the leading players in the market include Blue Diamond Growers, Califia Farms, Danone, Pacific Foods of Oregon, and WhiteWave Foods.

In conclusion, the almond drink market is a rapidly growing segment of the non-dairy milk market, driven by changing consumer preferences and a focus on health, sustainability, and innovation. The market is expected to continue to grow in the coming years, creating opportunities for companies that can effectively address these trends.

Almond Drink Market Segmentation

The almond drink market can be segmented on the basis of product type, distribution channel, and geography:

1. Product Type: The almond drink market can be segmented into sweetened and unsweetened almond milk. Unsweetened almond milk is preferred by health-conscious consumers who want to avoid added sugar in their diet, while sweetened almond milk is popular among consumers who prefer a sweeter taste.
2. Distribution Channel: The almond drink market can be segmented into supermarkets/hypermarkets, convenience stores, online retailing, and others. Supermarkets/hypermarkets currently dominate the market due to their wide product range and the availability of different brands. However, the online retailing segment is expected to grow at the highest CAGR during the forecast period due to the convenience of home delivery.
3. Geography: The almond drink market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East and Africa. North America currently dominates the market, followed by Europe and Asia Pacific. The growth of the almond drink market in these regions is driven by the increasing demand for plant-based and dairy-free products.

Overall, the almond drink market segmentation allows companies to understand the preferences of their target consumers and tailor their products and marketing strategies accordingly. By analyzing the trends and demand patterns of different segments, companies can effectively compete in the market and meet the changing needs of their customers.

Almond Drink Market Forecast

The almond drink market is expected to continue to grow in the coming years, driven by changing consumer preferences and a focus on health, sustainability, and innovation. Here is a forecast of the almond drink market based on current trends and market analysis:

Market Size: The global almond drink market was valued at USD 5.07 billion in 2020 and is projected to reach USD 12.39 billion by 2028, growing at a CAGR of 13.3% from 2021 to 2028.

Product Type: The unsweetened almond milk segment is expected to dominate the market during the forecast period, as it is preferred by health-conscious consumers who want to avoid added sugar in their diet.

Distribution Channel: The online retailing segment is expected to grow at the highest CAGR during the forecast period due to the convenience of home delivery and the increasing popularity of e-commerce platforms.

Geography: North America is expected to continue to dominate the market, followed by Europe and Asia Pacific. The growth of the almond drink market in these regions is driven by the increasing demand for plant-based and dairy-free products.

Factors Driving Market Growth: The almond drink market is driven by factors such as changing consumer preferences, growing health consciousness, increasing vegan and vegetarian population, and rising concerns over the environmental impact of dairy products. The market is also expected to benefit from the increasing availability and variety of almond milk products, as well as the expanding distribution channels.

In conclusion, the almond drink market is expected to continue to grow at a significant rate in the coming years, driven by changing consumer preferences and a focus on health, sustainability, and innovation. Companies that can effectively address these trends and meet the changing needs of their customers are likely to succeed in the market.

Almond Drink Market Growth

The almond drink market has been experiencing strong growth in recent years, and this growth is expected to continue in the coming years. Here are some of the key factors driving the growth of the almond drink market:

1. Health and wellness trends: Consumers are becoming more health-conscious and are looking for healthier alternatives to dairy milk. Almond milk is seen as a healthy and nutritious alternative to dairy milk, as it is low in calories, contains no cholesterol or saturated fat, and is rich in vitamins and minerals.
2. Growing vegan and vegetarian population: The number of vegans and vegetarians is growing worldwide, and many of these consumers are looking for plant-based alternatives to dairy milk. Almond milk is a popular choice among vegans and vegetarians because it is a plant-based alternative that is rich in nutrients.
3. Environmental concerns: Consumers are becoming more aware of the environmental impact of dairy products, and many are looking for more sustainable alternatives. Almond milk is seen as a more sustainable alternative to dairy milk, as it requires less water and produces fewer greenhouse gas emissions.
4. Innovation in product development: Almond milk manufacturers are investing in product development and innovation, creating new flavors and varieties of almond milk to meet the diverse tastes and preferences of consumers. This is helping to drive demand for almond milk and fuel market growth.
5. Increasing availability: Almond milk is becoming more widely available, with more supermarkets, health food stores, and online retailers stocking a variety of almond milk products. This is making it easier for consumers to find and purchase almond milk, which is driving market growth.

Overall, the almond drink market is experiencing strong growth due to a combination of health and wellness trends, growing demand for plant-based alternatives, environmental concerns, innovation in product development, and increasing availability. These factors are expected to continue driving market growth in the coming years.

Almond Drink Market Competitor Analysis

The almond drink market is highly competitive, with a number of companies competing for market share. Here is a brief competitor analysis of the almond drink market:

1. Blue Diamond Growers: Blue Diamond is a leading producer of almond milk and is known for its high-quality products. The company offers a range of almond milk products, including sweetened, unsweetened, and flavored varieties.
2. Califia Farms: Califia Farms is a leading producer of plant-based milk and is known for its almond milk products. The company offers a variety of almond milk products, including unsweetened, sweetened, and flavored varieties.
3. Danone: Danone is a multinational food company that produces a range of dairy and plant-based products, including almond milk. The company’s almond milk products are marketed under the Silk brand and include a variety of flavors and varieties.
4. Hain Celestial: Hain Celestial is a leading producer of natural and organic food products, including almond milk. The company’s almond milk products are marketed under the Almond Dream brand and include a range of flavors and varieties.
5. Pacific Foods: Pacific Foods is a producer of plant-based milk and is known for its almond milk products. The company offers a variety of almond milk products, including unsweetened, sweetened, and flavored varieties.
6. WhiteWave Foods: WhiteWave Foods is a producer of plant-based products, including almond milk. The company’s almond milk products are marketed under the Silk brand and include a variety of flavors and varieties.

Overall, the almond drink market is highly competitive, with a number of established players competing for market share. These companies are investing in product development and innovation to meet the diverse tastes and preferences of consumers and to stay ahead of the competition.

Almond Drink Market Strengths

The almond drink market has several strengths that are driving its growth and making it an attractive market for companies to invest in. Here are some of the key strengths of the almond drink market:

1. Health and wellness benefits: Almond milk is perceived as a healthier alternative to dairy milk, as it is low in calories, contains no cholesterol or saturated fat, and is rich in vitamins and minerals. This has helped to drive demand for almond milk among health-conscious consumers.
2. Growing vegan and vegetarian population: The number of vegans and vegetarians is increasing worldwide, and many of these consumers are looking for plant-based alternatives to dairy milk. Almond milk is a popular choice among vegans and vegetarians because it is a plant-based alternative that is rich in nutrients.
3. Sustainability: Almond milk is seen as a more sustainable alternative to dairy milk, as it requires less water and produces fewer greenhouse gas emissions. This has helped to drive demand for almond milk among environmentally conscious consumers.
4. Innovation and product variety: Almond milk manufacturers are investing in product development and innovation, creating new flavors and varieties of almond milk to meet the diverse tastes and preferences of consumers. This has helped to fuel market growth and attract new consumers to the almond drink market.
5. Availability: Almond milk is becoming more widely available, with more supermarkets, health food stores, and online retailers stocking a variety of almond milk products. This has made it easier for consumers to find and purchase almond milk, which has helped to drive market growth.

Overall, the almond drink market has several strengths that are driving its growth and making it an attractive market for companies to invest in. These strengths are likely to continue driving market growth in the coming years, as consumer demand for healthy, sustainable, and plant-based products continues to grow.

Almond Drink Market Opportunities

The almond drink market presents several opportunities for growth and expansion. Here are some of the key opportunities in the almond drink market:

1. Growing demand in emerging markets: The demand for almond milk is growing in emerging markets such as Asia and Latin America, where consumers are increasingly adopting healthier diets and seeking plant-based alternatives to dairy milk. This presents an opportunity for companies to expand their operations in these markets and tap into this growing demand.
2. Expansion of product lines: Almond milk manufacturers can expand their product lines to include other plant-based milk alternatives, such as oat milk, soy milk, and coconut milk. This can help companies to diversify their product offerings and capture a larger share of the growing plant-based milk market.
3. Private label products: Private label products are becoming increasingly popular among consumers, as they offer a more affordable alternative to branded products. This presents an opportunity for companies to partner with retailers to produce private label almond milk products and expand their market reach.
4. Innovation in packaging: Almond milk manufacturers can invest in innovation in packaging, such as eco-friendly packaging, convenient on-the-go packaging, and resealable packaging. This can help to attract new consumers and increase brand loyalty.
5. Online sales: The increasing popularity of e-commerce presents an opportunity for almond milk manufacturers to expand their sales channels and reach consumers directly through online platforms. This can help to increase brand awareness, drive sales, and reach new markets.

Overall, the almond drink market presents several opportunities for growth and expansion. Companies that are able to capitalize on these opportunities are likely to see continued growth and success in the coming years.

Almond Drink Market Weakness

The almond drink market has a few weaknesses that could pose challenges to companies operating in the market. Here are some of the key weaknesses of the almond drink market:

1. Price: Almond milk is generally more expensive than dairy milk, which could limit its appeal to price-sensitive consumers. This could make it difficult for companies to compete with dairy milk manufacturers, particularly in price-sensitive markets.
2. Nutritional value: While almond milk is perceived as a healthier alternative to dairy milk, it does not have the same nutritional profile as dairy milk. For example, almond milk is lower in protein than dairy milk, which could limit its appeal to consumers looking for a source of protein.
3. Allergies: Almonds are a common allergen, which could limit the appeal of almond milk to consumers with allergies. This could also pose a risk to companies that manufacture almond milk, as they could face legal liabilities if consumers experience allergic reactions after consuming their products.
4. Competition: The almond drink market is becoming increasingly competitive, with many new players entering the market and established players investing in product development and innovation. This could make it difficult for companies to stand out and differentiate their products from competitors.

Overall, the almond drink market has a few weaknesses that could pose challenges to companies operating in the market. However, these weaknesses are not insurmountable, and companies that are able to address them are likely to succeed in the market.

Almond Drink Market Threats

The almond drink market is facing several threats that could impact the growth and profitability of companies operating in the market. Here are some of the key threats to the almond drink market:

1. Competition from other plant-based milk alternatives: While almond milk is currently one of the most popular plant-based milk alternatives, it faces competition from other options such as soy milk, oat milk, and coconut milk. This could limit the growth potential of the almond drink market as consumers have a wider variety of options to choose from.
2. Availability of raw materials: The production of almond milk is heavily dependent on the availability and price of almonds. Any fluctuations in the price or availability of almonds could impact the profitability of almond milk manufacturers.
3. Consumer preferences: Consumer preferences are constantly changing, and there is a risk that almond milk could fall out of favor with consumers in the future. For example, there could be a shift towards other plant-based alternatives, or consumers may opt for dairy milk or other non-dairy options.
4. Regulations and labeling requirements: The almond drink market is subject to regulations and labeling requirements, which could impact the production and sale of almond milk. For example, regulations around health claims or allergen labeling could impact the marketing and distribution of almond milk products.
5. Economic conditions: The almond drink market, like any industry, is subject to economic conditions such as recessions, inflation, and changes in consumer spending patterns. These factors could impact the demand for almond milk and the profitability of companies operating in the market.

Overall, the almond drink market is facing several threats that could impact the growth and profitability of companies operating in the market. Companies that are able to anticipate and address these threats are likely to be better positioned for long-term success.