The global almond ingredients market is estimated to be valued at USD 9.0 billion in 2019 and is projected to reach USD 16.4 billion by 2025, recording a CAGR of 10.8% from 2019 to 2028. The growth of this market is ascribed to the growing snack food industry, inclusions of health-based ingredients, companies rapidly launching almond-based products, associations and organizations promoting almond ingredients industry, and technological advancements enabling the trade of raw material. Also, the soaring prices of raw material and instances of allergies toward tree nuts act as constraints to the growth of the almond ingredients market.

Top Driver: Increasing preference for vegan and gluten- free diets will also act as a driver for this market

Growth of the almond ingredients industry over the forecast period is attributed to enormous functional applications of the almond based-products as an antioxidant, natural food conserving additive, and dietary supplements. Moreover, almond ingredients also find lucrative applications in cosmetics & pharmaceutical industries. Also, almond shells are used as mulch and natural colorants and this will create new growth avenues for the almond ingredients market over the forecast period. Many nutritional benefits which are offered by almonds ingredients are driving its market. Expansion and promotion of nut ingredient industry is also impacting the expansion of almond ingredients market. Advancement in technology enabling the trade of raw material is also expected to expand the market. increasing demand for healthy snacks among population will also act as a driver for this market.

Snacks & bars to Make Crucial Contribution to Growth of Global Almond ingredients

As per application, the snacks & bars segment is likely to account for the largest share in the almond ingredients market

In the almond ingredients market, the snacks & bars segment is projected to be the largest market by 2024. Almonds are majorly consumed as a snack all around the world due to their nutritional benefits; additionally, consumers perceive them as a natural and healthy snack option. The organic and natural snacks food category is a growing category in supermarkets around the world. thank to these factors, the snacks & bars segment is projected to account for a larger market share in the almond ingredients market.

As per type, the whole almonds segment is projected to account for the largest share in the almond ingredients market

In the almond ingredients market, the whole almonds segment is projected to be the largest market by 2024. Natural whole almonds are very versatile and suitable for various applications such as snacks, confectionery, and bakery. Due to their multifunctional attributes, the demand for whole almonds is high. In addition, due to the increasing usage of almond as snacks, the market is expected to witness increased demand. t. These factors are responsible for the higher market share of whole almonds.

Europe is projected to account for the largest market share during the forecast period

Europe accounted for a 54.0% share of the almond ingredients market during 2019, in terms of value. The region is witnessing a growing trend in the usage of almond-based snacks due to the health benefits they offer. The rise in demand for high nutritious food and the concerns of a significant population with a high obesity rate have been some of the leading reasons behind the growth of this market over the past several years. The rising demand for natural and low-sugar ingredients in the region is also driving the almond ingredients market in Europe.

Players to Focus on Global Almond ingredients Market

The key players in the almond ingredients market include

• 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)
• Harris Woolf California Almonds (US)
• Treehouse California Almond (US)

Market players adopted various business strategies such as expansions, new product launches, agreements, partnerships, collaborations, and acquisitions in the last few years to meet the growing demand for almond ingredients.

Scope of the Report

By type

• Almond paste
• Whole almonds
• Almond pieces

By Application

• Snacks & bars
• Milk substitutes & ice creams
• Bakery & confectionery
• Nut & seed butters
• RTE cereals
• Others (artisan foods, salads, sauces, food services, other processed foods, and cosmetic)

By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.

4.      It builds a seven-year estimate