Almond Ingredients Market

Almond Ingredients Market was valued at USD 9.1 billion in 2021 and is forecast to touch USD 19.2 billion in 2029, and the market is expected to grow at a CAGR of 9.8% from 2022-2029.

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Market Dynamic

Key Drivers and Emerging Trends

One of the biggest factors that is contributing to the growth of the global almond ingredients market share includes the growing demand for nutritional and health-based products around the world. The increasing preference of the obese and geriatric population for food products with nut ingredients in Germany, the UK, the U.S., and other countries, is driving the market growth. There has been an increase in health awareness, rising risk of chronic diseases, and the changing lifestyle are further encouraging the consumers to food for healthy food products. The almond ingredients provide rich nutritional value and contain lots of fiber, healthy fats, protein, magnesium, and vitamin E.

Consumers are now looking for convenient and healthy on-the-go snack options, which is further surging the market growth. There has been an increase in the demand for a healthy snacking options such as snack bars, chips, and biscuits with nut ingredients. Additionally, almond ingredients are increasingly used in applications such as bakery, ice cream, confectionery, and bars. This is further surging the market growth over the coming years. The emergence of the COVID-19 pandemic has further supported market growth. Due to the outbreak of coronavirus, the consumers have shifted towered health-benefiting products to improve their immune system, which is surging the growth of the almond ingredients market size.

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Type – Segment Analysis

Based on the type, the bars is projected to grow at a higher CAGR during the forecast period. This is mainly due to the increasing consumer demand for healthy bar snack options as they are actively looking for convenient, healthy food options. As per the Almond Board of California, cereal bars and snacks have experienced an 80% increase in demand over the last five years. In addition to this, the individuals are considering almonds as the most desired ingredient due to their ability to make a bar crunchier in texture and provide nutrients and enhances the overall taste.

Application – Segment Analysis

Based on the application, the whole almonds is expected to dominate the market during the forecast period. The whole almonds is present in two forms: blanched and natural. The increasing demand for blanched whole almonds in confectionery and bakery applications and for the garnishing for desserts is driving the growth of the market. Furthermore, the emerging trend of gifting whole almonds in the form of gifts on occasions is further supporting the market growth. Consumers are now becoming aware of the benefits related to whole almonds, such as it allows heat to penetrate without scorching, provides more crispiness, and improves the flavor.

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Regional – Segment Analysis:

On the regional coverage, Asia-Pacific is expected to dominate the market during the forecast period. The changing lifestyle of individuals, along with the rising disposable income, are the two factors that are propelling the market growth. As per the World Bank, APAC is the fastest-growing region in the world. This region is experiencing changes in terms of diet diversification, urbanization, and the formation of food policies in the food sector. In addition to this, the shift in the consumer’s preference towards health-benefiting food products is further propelling the regional market growth.

Top Market Players

Various notable players operating in the market, include ADM, Olam International, Barry Callebaut, Blue Diamond Growers, JOHN B. SANFILIPPO & SON, INC., BORGES AGRICULTURAL & INDUSTRIAL NUTS, SA, SAVENCIA SA, Kanegrade, The Wonderful Company LLC, and HARRIS WOOLF CALIFORNIA ALMONDS, among others.

Key Developments:

• • In 2019, Olam International acquired Hughson Nut, with an aim to expand its almond ingredients capacity and the meet the changing demand from consumers inside and outside the U.S.
  • In 2019, Blue Diamond Growers, entered in a partnership with Gruop LAIA. Through this partnership, the company aims to sell and distribute the almond milk/beverage “Almond Brezze” in Mexico.

Segments covered in the Report:

The global Almond Ingredients market has been segmented on the basis of Type, Application, and regions. Based on Type, the market is segmented into Whole Almonds, Almond Pieces, Almond Flour, Almond Paste, Almond Milk, and Others. Based on Application, the market is segmented into Snacks, Bars, Confectionery, Milk Substitutes & Ice Creams, Nut & Seed Butters, RTE cereals, and Others. 

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Key questions answered in this research report:

• • At what pace is global Almond Ingredients market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Almond Ingredients market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Almond Ingredients market?
  • Which Type generated maximum revenues in 2021and identify the most promising Type during the forecast period?
  • What are the various Application areas of global Almond Ingredients market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Almond Ingredients Market by Type

• • Whole Almonds
  • Almond Pieces
  • Almond Flour
  • Almond Paste
  • Almond Milk
  • Others

Global Almond Ingredients Market by Application

• • Snacks
  • Bars
  • Confectionery
  • Milk Substitutes & Ice Creams
  • Nut & Seed Butters
  • RTE cereals
  • Others

Global Almond Ingredients Market by Region

• • North America Almond Ingredients Market (Option 1: As a part of the free 25% customization)
    • by Type
    • by Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Almond Ingredients Market (Option 2: As a part of the free 25% customization)
    • by Type
    • by Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Almond Ingredients Market (Option 3: As a part of the free 25% customization)
    • by Type
    • by Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Almond Ingredients Market (Option 4: As a part of the free 25% customization)
    • by Type
    • by Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Almond Ingredients (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ADM
  • Olam International
  • Barry Callebaut
  • Blue Diamond Growers
  • JOHN B. SANFILIPPO & SON, INC.
  • BORGES AGRICULTURAL & INDUSTRIAL NUTS, SA
  • SAVENCIA SA
  • Kanegrade
  • The Wonderful Company LLC
  • HARRIS WOOLF CALIFORNIA ALMONDS