Almond Ingredients Market:
Growth opportunities in the almond ingredients market look promising over the next six years. This is mainly due to the increasing preference of the obese and geriatric population for food products with nut ingredients, escalation in health awareness, and the changing lifestyle of individuals.
Almond Ingredients Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The prominent driver responsible for the growth of the global almond ingredient market is the augmenting demand for nutritional and healthy products throughout the world. The increasing inclination of the obese and aging population towards food products with nut ingredients, primarily in the U.K., Germany, and the U.S., is strengthening the almond ingredient market size. Also, other factors such as growing health consciousness, altering lifestyle, and surging incidences of chronic diseases are persuading the consumers to choose healthy food items. Almonds offer abundant nourishment and are rich in lots of protein, magnesium, vitamin E, healthy fats, and fiber, and these ingredients are growingly used in the production of ice cream, bakery, bars, and confectionery items, thereby propelling the almond ingredient market share. Moreover, consumers are largely seeking healthy and handy on-the-go substitutes for snacks, which is further promoting the market growth. The boost in demand for snacking options with huge nutritional content such as chips, biscuits, and snack bars with nut ingredients, has raised the market demand. Additionally, the widespread outbreak of coronavirus has encouraged consumers to shift towards healthy items to enhance their immunity, accelerating almond ingredient market growth.
Type Segment Drivers
Based on the type, the bars are expected to witness a higher CAGR during the forecast period. This is because of the growing consumer demand for bar snack options as they want convenient and health-benefiting food options. According to the Almond Board of California, the demand for cereal bars and snacks has encountered a growth of 80% over the last five years. Also, almonds are regarded as the most wanted ingredient owing to their capability to make a bar crunchier with all nutrients and better taste.
Regional Drivers
Based on the regional coverage, Asia-Pacific is projected to dominate the market over the forecast period. This is primarily because of the varying lifestyle of individuals, coupled with the expanding disposable income. In accordance with the World Bank, APAC accounts to be the fastest-growing region in the world. This is because of diet diversification, rapid urbanization, and the formulation of different food policies in the food sector. In addition to this, changing consumer’s preference for healthy and nutritional food products is further bolstering the market growth.
Almond Ingredients Market’s leading Manufacturers:
- HARRIS WOOLF CALIFORNIA ALMONDS
- Kanegrade
- BORGES AGRICULTURAL & INDUSTRIAL NUTS, SA
- Blue Diamond Growers
- Olam International
- The Wonderful Company LLC
- SAVENCIA SA
- JOHN B. SANFILIPPO & SON, INC.
- Barry Callebaut
- ADM
Almond Ingredients Market Segmentation:
Segmentation by Type
- Whole Almonds
- Almond Pieces
- Almond Flour
- Almond Paste
- Almond Milk
- Others
Segmentation by Application
- Snacks
- Bars
- Confectionery
- Milk Substitutes & Ice Creams
- Nut & Seed Butters
- RTE cereals
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company’s large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird’s eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com
