Almond Ingredient Market - Forecast (2021 - 2026)

Almond Ingredients Market Overview :

Almond Ingredients Market size is estimated to reach $13.5 billion by 2026, growing at a CAGR of 9.8% during the forecast period 2021-2026. Almonds are the edible seeds of Prunus dulcis that provide a range of essential nutrients, such as vitamins, carbohydrates, proteins, fats, minerals, and others. Almond ingredients are generally used by customers who demonstrate intolerance to lactose and are also widely used for applications, such as snacks, confectionery, bakery, ice creams, and others. The increase in the adoption of plant-based milk products owing to the increasing health consciousness among customers, the rise in awareness about lipid transfer proteins in almond ingredients, growing demand for almond and indehiscent fruit snack bars, and an increase in the investment by the key players to develop quality almond ingredients are the factors that are set to drive the growth of the Almond Ingredients Market for the period 2021-2026.

Report Coverage

The report: “Almond Ingredients Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Almond Ingredients Market.

By Type: Whole Almond, Almond Pieces, Almond Flour, Almond Milk, Almond Oil, and Others.
By Application: Snacks, Bakery, Confectionery, Milk Substitutes & Ice Creams, Nut & Seed Butters, and Others.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World (Middle East and Africa). 

Key Takeaways

  • Geographically, North America Almond Ingredients Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the growing awareness about lipid transfer proteins in almond ingredients.
  • The increase in the adoption of whole almonds and indehiscent fruits in the food industry is driving the Whole Almond segment. However, the unstable prices of the raw material is one of the major factors that is said to reduce the growth of the Almond Ingredients Market.
  • Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Almond Ingredients Market report.

The Almond Ingredients Market based on the Type can be further segmented into Whole Almond, Almond Pieces, Almond Flour, Almond Milk, Almond Oil, and Others. The Whole Almond segment held the largest share in 2020 and is also estimated to be the fastest-growing segment with a CAGR of 11.1% over the period 2021-2026. This growth is owing to the factors such as the increase in awareness about the health benefits of whole almond (Prunus dulcis) and the growing demand for whole almonds and indehiscent fruits in the food industry. The rise in the commercial availability of whole almonds is driving the growth of the Almond Ingredients Market. The Almond Milk segment held the second-largest share in 2020 owing to the factors such as the growing adoption of almond milk products among the young population and the rise in the product launches by the key players based on the needs of the customers.


Almond Ingredients Market Segment Analysis - By Application

The Almond Ingredients Market based on the Application can be further segmented into Snacks, Bakery, Confectionery, Milk Substitutes & Ice Creams, Nut & Seed Butters, and Others. The Snacks segment held the largest share in 2020 owing to the factors such as the increase in the demand for almonds (Prunus dulcis) and indehiscent fruits in snack foods among the young population and the rise in the investment by the key players to develop quality almond ingredients for applications in snacks. The rise in the demand for convenient snacking options in developed nations is driving the growth of the Almond Ingredients Market. The Milk Sustitutues & Ice Creams is estimated to be the fastest-growing segment with a CAGR of 10.7% over the period 2021-2026. This growth is owing to the factors such as the rise in the demand for almond milk products and an increase in the prevalence of lactose intolerance among customers.

Almond Ingredients Market Segment Analysis - By Geography

The Almond Ingredients Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of World. North America held the largest share with 31% of the overall market in 2020. The growth in this segment is owing to the factors such as the growing awareness about lipid transfer proteins in almond ingredients and an increase in product launches by key players. The increasing demand for whole almonds (Prunus dulcis) and indehiscent fruits in the food industry is driving the growth of the Almond Ingredients Market. Asia-Pacific segment is estimated to be the fastest-growing segment over the period 2021-2026. The growth in this segment is owing to the factors such as the rise in the demand for almond and indehiscent fruit snack bars and the growing investment by the key players to develop quality almond ingredients.


Almond Ingredients Market Drivers

Rise in the Adoption of Plant-Based Milk Products

Plant-based milk products are increasingly being adopted across the world owing to the rise in the prevalence of lactose intolerance among customers. The key players are also focusing on developing flavored almond (Prunus dulcis) milk products to attract the young population across the world, which is one of the major factors driving the growth of the Almond Ingredients Market.

Increase in the Demand for Almond-Based Snack Bars

The rise in the demand for nutritional and health-based products owing to the increasing obese and geriatric population in developed nations such as Germany, the US, and the UK has propelled the demand for almond-based and indehiscent fruits ingredients in bars. Moreover, manufacturers across the world are developing new almond (Prunus dulcis) and indehiscent fruits ingredients for snack bars for health-conscious consumers with less-desirable nutrients, such as fats and sugars, which is further propelling the growth of the Almond Ingredients Market.

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Location: United States

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