Almond Ingredients Market To Reach USD 15.6 Billion By 2027 | Reports And Data
The increase in the development of almond-based products by key players, promotion of nut ingredients by association, and organizations are the key factors contributing to the growth of the market during the forecast period.
New York City, United States – May 27, 2020 /MarketersMedia/ —
According to the current analysis of Reports and Data, the global Almond Ingredients market was valued at USD 8.56 Billion in 2019 and expected to reach USD 15.6 Billion by the year 2026, at a CAGR of 8.95%. Almonds ingredients are accessible in varied forms such as milk, piece, and flour. The almonds ingredients are especially appropriate for gluten-intolerant consumers. They are supplemented with minerals, protein, and vitamins, also associated with numerous health benefits. The product possesses assets profitable for health, and a large number of persons consume them all over the globe. The inconsistent price is the major restraining factor in industry dynamics. Natural whole almonds are very handy and suitable for various applications such as snacks, confectionery, and bakery. Due to their multifunctional attributes, the demand for whole almonds is high.
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Leading Almond Ingredients manufacturers/companies operating at both regional and global levels:
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), and Döhler GmbH (Germany).
For the purpose of this report, Reports and Data has segmented the Almond Ingredients market based on
Type (Revenue, USD Million; 2017–2027)
• Whole almonds
• Almond pieces
• Almond paste
• Almond flour
• Almond milk
• Others
Application (Revenue, USD Million; 2017–2027)
• Snacks & bars
• Milk substitutes & ice creams
• Bakery & confectionery
• Nut & seed butter
• RTE cereals
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Further key findings from the report suggest
• By application, the almond ingredients market has been categorized into Snacks & bars, Milk substitutes & ice creams, Bakery & confectionery, nut & seed butters, RTE cereals and others. The snacks and bars category holds the fastest and largest segment in the industry due to the increase in consciousness about health benefits associated with almonds, which include lower blood sugar levels, lower cholesterol levels, and decreased blood pressure. They can also lessen hunger and promote weight loss. This trend is booming up the almond industry and expected to have a good future in upcoming years.
• By type, the market has categorized into the dry whole, pieces, paste, flour, and milk almonds. Among these whole segment occupied the largest industry share due to the rise in production and relaxed trade regulations among prominent consumer-based countries such as China, India, the U.S, among others. The increase in consumer income among these nations has also boosted up in the consumption of almonds and expected to witness faster growth.
• The European industry is estimated to be the fastest-growing in the global almond ingredients market during the forecast period. The growing demand for natural and low-sugar components in the region is also high, which drives the industry. The society and urbanization, awareness of a healthy diet, witnessed to develop most of this industry during the forecast period.
Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
• Europe
• Asia Pacific
• MEA
• Latin America
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To summarize, the global Almond Ingredients market report studies the contemporary market to forecast the growth prospects, challenges, opportunities, risks, threats, and the trends observed in the market that can either propel or curtail the growth rate of the industry. The market factors impacting the global sector also include provincial trade policies, international trade disputes, entry barriers, and other regulatory restrictions.
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