The global almond
ingredients market size is estimated to be valued at USD 10.2 billion
in 2020. It is projected to reach USD 16.9 billion by 2025, recording a CAGR of
10.5% in terms of value. Numerous nutritional benefits offered by almond and
almond ingredients, a rapid increase in almond-based product launches by key
players in the food & beverage market, growing inclination of consumers
toward plant-based and gluten-free products, and associations and organizations
promoting the nut ingredient industry are the key factors projected to drive
the growth of the almond ingredients market during the forecast period.
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The snacks segment
holds the largest market share during the forecast period.
Based on application, the almond ingredients market is
dominated by the snacks segment. Almonds have numerous nutritional benefits,
owing to which are they are majorly consumed as a snack worldwide. It avoids
weight gain. Globally, consumers are inclining toward healthier and nutritious
options free of pesticides, chemicals, and GMOs. Almond ingredients in snacks
are ideal, as consumers consider them natural and healthy. The organic and
natural snacks food category is experiencing significant growth in supermarkets
around the world. Many key players in the food & beverage market are
introducing new products to the market. These factors are driving the growth of
the snacks segment in the almond ingredients market.
The almond pieces
segment is projected to grow at the fastest rate in the almond ingredients market
during the forecast period
By type, the almond pieces segment is projected to witness
the fastest growth in the almond ingredients market for the period forecasted.
Almond pieces or chopped almonds intensify the flavor of food products, to
which it is added. Almond pieces are available in various forms, such as
halves, slices/flakes, and diced/chopped. Almond pieces help in adding crunch,
texture, and nutrition to the products and are increasingly used in the
preparation of health-based snack foods. The market for almond pieces is
projected to witness a rapid growth across regions due to the development of
the food processing industry and high consumption among the population.
However, the market continues to witness significant growth in developed
countries, such as the US and Germany, due to the high awareness pertaining to
health-based foods products, along with an increase in the food processing
sectors.
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The Europe region
dominated the almond ingredients market with the largest share
The European market accounted for the largest share in 2019.
The rise in awareness pertaining to the nutritive compounds in almonds and the
benefits offered by it is increasing among consumers over the past few years,
which has led manufacturers to invest significantly in the almond ingredients
market. Consumers in this region are witnessing a high demand for natural and
low-sugar ingredients and food products, resulting in a surge in almond
consumption in the region. As high-fat products are responsible for the
occurrence of chronic illnesses, such as obesity and diabetes, food &
beverage manufacturers are now focusing on undertaking innovations in the
production of various low-fat fortified foods to cater to consumer demands for
healthy food & beverage products.
Leading companies are ADM (US), Olam International Limited
(Singapore), Barry Callebaut (Switzerland), Blue Diamond Growers (US), John B.
Sanfilippo & Son (US) , Kanegrade (UK), Borges Agricultural &
Industrial Nuts (Netherlands), Savencia SA (France), The Wonderful Company
(US), Harris Woolf California Almonds (US), Treehouse California Almonds (US),
Döhler GmbH (Germany), Royal Nut Company (Australia), Repute Foods Pvt. Ltd
(India), Deep Nuts N Flavors LLP (India), Shivam Cashew Industry (India),
Modern Ingredients (India), ConnOils LLC (Wisconsin),Valley Harvest Nut Company
(US), and ETChem (Jiangsu).
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