Almond Ingredients - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Almond Ingredients market is accounted for $7.99 billion in 2018 and is expected to reach $23.26 billion by 2027 growing at a CAGR of 12.6% during the forecast period. Some of the key factors propelling the market growth are nutritional benefits offered by almond ingredients and increasing demand for plant based proteins & beverages. However, volatile prices of raw materials and rising incidences of almond allergy among consumers are the restraining factor for the growth of the market.
Almond is one of the rich nutrition nuts as it contains carbohydrate, protein, vitamins, and different minerals. The high presence of minerals and nutrients made the almond ingredients versatile and healthy ingredients which are added to the different sort of food applications. Almond ingredients are the products of almond, available in various forms including piece, flour, milk, and others. They have the health beneficial properties and consumed by a large number of population. For example, almond milk, an almond ingredient is widely used by those consumers who show the lactose intolerance. In addition, they are extensively used for the varieties of applications such as bakery, confectionery, snacks and bars, ice creams, and others. They are added to both the type of food savoury and sweet to offer the different flavor and taste in food. There are also various health benefits associated with the almonds ingredients including reducing the cholesterol, high in vitamin E, reduce the risk of heart diseases, control the blood sugar and others.
By type, whole almonds segment is expected to grow at the significant market share during the forecast period. Natural whole almonds are very versatile and suitable for different applications, for example, snacks, confectionery, and bakery. Due to their multifunctional qualities, the demand for these almonds is high. In addition, due to the increasing utilization of almond as snacks, the market is expected to witness increased demand. These factors are responsible for the higher market share of these almonds.
On the basis of geography, Asia Pacific is anticipated to hold considerable market share during the forecast period due to the huge intake of almond-based items in the region. Apart from this, a high level of awareness about the health benefits derived due to the consumption of almond ingredients and changing customer tastes will additionally spur the regional market growth in the years to come. Furthermore, notable demand for almond milk, almond-based confectionery items, and almond-based snacks & bars in countries like India and China will drive the market growth.
Some of the key players in Almond Ingredients Market include Archer Daniels Midland Company (ADM), Barry Callebaut Group, Blue Diamond Growers, Borges Agricultural & Industrial Nuts (Bain), Döhler GmbH, Harris Woolf California Almonds, John B. Sanfilippo & Son, Kanegrade Limited, Olam International Limited, Royal Nut Company, Savencia SA, The Wonderful Company and Treehouse California Almonds.
• Almond Flour
• Almond Milk
• Almond Paste
• Almond Pieces
• Almond Powder
• Flaky Almond
• Whole Almonds
• Other Types
• Bakery & Confectionery
• Dairy Products
• Milk Substitutes & Ice Creams
• Nut & Seed Butters
• Ready to Eat (RTE) Cereals
• Snacks & Bars
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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