DUBLIN--(BUSINESS WIRE)--The "Almond Ingredients Market by Type (Whole, Pieces, Paste, Flour, Milk, Oil, Extracts), Application (Snacks & Bars, Bakery & Confectionery, Milk Substitutes & Ice creams, Nut & Seed Butters, RTE Cereals, Cosmetics) & Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
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 10.6% From 2019 to 2025.
The market is driven by factors such as the growing demand for almond-based snack products and increasing awareness about the health benefits of almonds as a healthy and high-nutrient ingredient. High prices, fluctuation almond production, and rising almond allergies are projected to inhibit the growth of the almond ingredients market.
By type, the almonds pieces segment is projected to witness the fastest growth during the forecast period.
The almond pieces segment is estimated to grow at the highest CAGR as it adds texture, crunch, and nutrition to products and are highly used in the preparation of health-based snack foods. Almond pieces or chopped almonds are considered nutritious and intensify the flavor of the food product to which they are added. The market for almond pieces is projected to grow rapidly across regions, as there is an increase in the number of food processing industries and consumption among the population. Due to these factors, the almond pieces market is projected to grow at the highest CAGR.
By application, the snacks & bars segment is projected to witness the fastest growth during the forecast period.
The snacks & bars segment is estimated to grow at the highest CAGR during the forecast period. Almond ingredients ideal for snacks & bars, as consumers perceive them natural and healthy. Consumers, globally, are looking for healthier and nutritious snacking options that are free of pesticides, chemicals, and GMOs. Due to these factors, the snacks & bars segment is projected to drive the almond ingredients market.
Asia Pacific is projected to be the fastest-growing region in the almond ingredients market, due to the growing consumption of almond-based products in the region and rising awareness about the health benefits of almonds.
Asia Pacific is projected to be the fastest-growing region during the forecast period in the almond ingredients market. The region is witnessing significant demand for almond-based products such as almond milk, almond-based snacks & bars, and almond-based confectionery products. The increased consumption is attributed to the changing consumer preferences, health benefits of almonds, and the growing demand during the non-festive season.
China & India are the major markets for almond ingredients in the region. The high growth rate in the Asia Pacific region and the increasing investments by leading almond manufacturers for expansions are further projected to drive the market growth.
Market Dynamics
Drivers
- Nutritional Benefits Offered By Almond Ingredients to Drive the Market
- Rapid Increase in Almond-Based New Product Launches By Key Players
- Product Innovations and Variations
- Increase in Adoption of Almonds in Snacks & Processed Food
- Growing Demand for Plant-Based Proteins & Beverages
- Growing Consumer Preference for A Vegan and Gluten-Free Diets
- Associations & Organizations Promoting the Nut Ingredient Industry
Restraints
- Growing Incidences of Almond Allergy Among Consumers
- Volatile Prices of Raw Materials
- Changing Trade Policies
Opportunities
- Growing Demand in the Asia Pacific Market
- Expansions By the Key Players and Resources Present in the Region
- Potential for Diversification Into Other Application Sectors
- Technological Advancements Enabling the Trade of Raw Materials
Challenges
- Food Safety Issues Along the Supply Chain of Almond Trading
- Complexity in Supply Chain of Almond Ingredients Market
Leading players profiled in this report
- 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)
- Royal Nut Company (Australia)
- Dhler GmbH (Germany)
For more information about this report visit https://www.researchandmarkets.com/r/ome93m
