Global Almond Ingredients Market Size, Trends & Analysis - Forecasts to 2026 By Type (Flavor extracts, Crocants, Almond oil, Sablages, Other types, Almond Milk, Almond Flour, Almond Pieces, and Whole Almonds); By Application (RTE Cereals, Nut & Seed butter, Milk substitutes & ice creams, Confectionery, Bakery, Bars, Snacks, and Other applications [Sauces, Salads, Artisan foods, Food services, Other processed foods, and Cosmetic Applications]); By Region (North America, Europe, Asia Pacific, MEA, and CSA); End-User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis
Almonds are enriched with protein, vitamins, minerals, and fiber and its seeds are drupes, therefore, are not considered a true nut. Almond ingredients offer various benefits such as lowering blood pressure, alleviating constipation, controlling blood sugar and cholesterol level, and is consumed by a large number of population. Almond ingredients cover a wide application range such as confectionery, bakery, ice creams, snacks and bars, and others. According to GME studies on the almond ingredients market, it is estimated to grow at an impressive rate within the year 2020-2026. Nutritional benefits offered by almond ingredient is the prime reason behind the growth of the market. Also, the rapid increase in almond products is triggering the demand for the products in various regions of the globe. The rising demand for plant-based proteins and beverages is expected to build up a great market for almond ingredients. The increasing product launched based on an almond ingredient by various key players in the food & beverages market is fueling the demand of the almond ingredients market in the forecast period. However high cost of almond ingredients and increasing allergies due to almond is hampering the market of almond ingredient products.
Flavor extracts, crocants, almond oil, sablages, other types, almond milk, almond flour, almond pieces, and whole almonds are the segmentation of the almond ingredient market based on type. The whole almonds are the fastest-growing segment in terms of value. These are found in two types, natural and blanched. The balanced whole almond is in more demand as compared to the other one as it is used in various confectionery and bakery applications. However, natural whole almond is predominately used as snacks in roasted and flavored form. Evolving economic standards and the rising trend towards healthier food options are favoring the growth of the segment in recent times.
RTE cereals, nut & seed butter, milk substitutes & ice creams, confectionery, bakery, bars, snacks, and other applications are the categorization of the almond ingredient market based on the application. The bars are the fastest-growing segment among all as the majority of customers are incident towards convenience health befitting food product. The market is further expected to grow in the future as a huge percentage of adult customers are consuming bars in breakfasts in their regular diet.
Asia-Pacific is estimated to register the highest CAGR of the almond ingredients market within the 2020-2026 period. Change lifestyles and increasing disposable income are triggering the demand for the product in the region. The region is facing challenges in the market in terms of radical changes in diet diversification, liberal trade regulations in the food sector and rapid urbanization are creating demand opportunities for the almond ingredient market. Also rising consumer awareness towards health issues and growing shift of the consumer towards health-benefiting products is building a huge market for the manufacturers to grow in the region.
The key players operating in the market include Treehouse California Almonds, Harris Woolf California Almonds, The Wonderful Company, Savencia SA, Borges Agricultural & Industrial Nuts, Kanegrade, John B. Sanfilippo & Son, Blue Diamond Growers, Barry Callebaut, Olam International Limited, ADM, ETChem, Valley Harvest Nut Company, ConnOils LLC, Modern Ingredients, Shivam Cashew Industry, Deep Nuts N Flavors LLP, Repute Foods Pvt. Ltd, Royal Nut Company, and Döhler GmbH among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In September 2020, Harris Woolf California Almonds, launched a new almond powder and almond oil products. The powder is GMO-free roasted almond protein powder with unmatched protein flavor and the oil is made from 100% food-grade almond.
In November 2019, Blue Diamond Growers came up with more than 20 flavors of almonds.
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The Global Almond Ingredients Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Almond Ingredients Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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