Global Almonds Ingredients Market Is Expected to Reach USD 15.9 Billion In 2026
The global almonds
ingredients market was valued at USD 9.1 billion in 2018 and is expected
to reach USD 15.9 billion in 2026, growing at a CAGR of 8.4%
during the forecast period.
Almond is a healthy
dietary nut, containing carbohydrates, proteins, vitamins, and other minerals.
Almond ingredients are products of almond, available in a variety of forms,
including pieces, flour, milk, and others. Almond ingredients have useful
health characteristics and are eaten by a big amount of people. The growth of
the almond’s ingredients market is primarily driven by the rise in the trend of
consuming healthier food and increasing demand for plant-based proteins &
beverages are the key factors driving the growth of this market.
However, growing
incidences of almond allergy among consumers and volatile prices of raw
materials hamper the growth of the almonds ingredients industry. On the other
hand, advancements in technology enabling the trade of raw materials may also
provide a profitable chance for market players in the near future.
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Based on product Type,
the whole almonds segment is expected to grow at a CAGR of around 6.9%
throughout the forecast period Based on product type, the almonds ingredients
market has been segmented into whole almond, pieces, flour and milk among
others. The whole almond type accounts of the largest share in the market and
are expected to grow at a CAGR of around 6.9% during the forecast period.
Natural whole almonds are very versatile and suitable for a variety of
application, such as snacks, confectionery, and bakery.
Due to their
multifunctional characteristics, the demand for whole almonds is high. In
addition, owing to the growing use of almonds as snacks, the market is
anticipated to experience enhanced demand. These variables are accountable for
the increased market share of whole almonds. Based on application, snacks and
bars segment expected to dominate the almonds ingredients market throughout the
forecast period Based on application, the global almonds ingredients market has
been segmented Bakery and Confectionary, Snacks and Bars and Dairy Products
among others.
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The snacks and bars
segment is growing rapidly in the almonds ingredients market with the highest
CAGR of 7.9% in the forecast period. Almonds are widely consumed as a snack
throughout the globe because of their dietary advantages; in addition,
consumers perceive them as a natural and healthy snack alternative. Organic and
natural food snacks are an increasing category in supermarkets around the
world.
Europe to dominate the
almonds ingredients market throughout the forecast period Europe accounted for
nearly 52% share of the global almonds ingredients market in 2018 and is
expected to dominate the market throughout the forecast period. The region is
experiencing an increasing trend in the use of almond-based snacks owing to
health advantages. The increase in demand for elevated nutritious food and the
issues of a large population with elevated obesity rates have been some of the
main factors behind the development of this industry. The growing demand for
natural and low-sugar foods in the region is also driving the market for almond
products in Europe.
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Company Profiles and Competitive Intelligence:
The major players operating in the global almonds
ingredients market are
·
Archer Daniels Midland
Company (US),
·
Olam International
Limited (Singapore),
·
Barry Callebaut Group
(Switzerland),
·
Blue Diamond Growers
(US),
·
John B. Sanfilippo
& Son (US),
·
Borges Agricultural
& Industrial Nuts (Spain),
·
Savencia SA (France),
·
Kanegrade Limited(UK)
·
The Wonderful Company
(US)
·
among
others.
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