Global Almonds Ingredients Market Is Expected to Reach USD 15.9 Billion In 2026

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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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