Global Almond Ingredients Market Forecasts to 2030
Overview of Global Almond Ingredients Market:
According to Stratistics MRC, the Global Almond Ingredients Market is accounted for $10.58 billion in 2023 and is expected to reach $19.60 billion by 2030 growing at a CAGR of 9.2% during the forecast period. Almond ingredients are various forms of almonds, including whole almonds, almond pieces, almond flour, almond paste, and almond milk, utilized mainly in bakery and confectionery. Renowned for their nutritional value and versatile applications, almond ingredients enhance the flavor, texture, and nutritional profile of numerous dishes, serving as a popular choice in baking, snacks, dairy alternatives, and other culinary creations.
This report analyzes the Almond Ingredients Market from 2022 to 2030. It uses a combination of detailed sales and revenue data with insights from industry experts. The report goes beyond just Market size and growth rate. It also dives into different Market segments, such as region, product type, distribution channel, etc. This provides a comprehensive picture of how the Market breaks down across various categories.
As COVID-19 has reshaped the world economy, our team has been keeping a careful eye on its effects on the Market. Beyond the pandemic, we take into account other important variables such as the general state of the economy, local conflicts, and news and regulations unique to the industry. This guarantees a comprehensive perspective on the Market.
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Market Dynamics:
Driver:
Growing popularity of plant-based diets
The growing popularity of plant-based diets is a significant driver for the almond ingredients market. As consumers increasingly seek healthier and more sustainable food options, the demand for plant-based products has surged. Almond ingredients, being naturally plant-based, are benefiting from this trend. They are used extensively in vegan and vegetarian products, including dairy alternatives, meat substitutes, and gluten-free baked goods, which cater to both health-conscious consumers and those with dietary restrictions.
Restraint:
Price fluctuations of almonds
Price fluctuations for almonds pose a major restraint for the almond ingredient market. Almond prices are susceptible to changes due to various factors such as weather conditions, pest infestations, and global supply chain disruptions. These fluctuations can impact the cost of production for almond-based products, leading to inconsistent pricing for consumers and challenges in maintaining profit margins for producers, which may deter investment and innovation in the sector.
Opportunity:
Innovations in product development
Innovations in product development present significant opportunities for the almond ingredients market. As food technology advances, there is a growing potential for creating new almond-based products that cater to diverse consumer needs. This includes expanding into categories such as plant-based proteins, specialized flours for baking, and almond-based spreads. The versatility of almonds allows for their use in a wide array of innovative products, driving market growth.
Threat:
Competition from other nut ingredients
Competition from other nut ingredients is a threat to the almond ingredients market. Other nuts, like cashews, walnuts, and pistachios, also offer nutritional benefits and are used in similar applications. These nuts can sometimes be more cost-effective or offer different flavors and textures, which may appeal to consumers and manufacturers. The presence of these alternatives could potentially limit the growth of almond-based products in certain market segments.
Covid-19 Impact:
The COVID-19 pandemic has had a mixed impact on the almond ingredients market. While disruptions in the supply chain and fluctuations in demand initially posed challenges, the pandemic also led to an increased focus on health and wellness among consumers. This shift has bolstered the demand for nutritious and immune-boosting foods, subsequently driving interest in almond-based products due to their health benefits.
The whole almonds segment is expected to be the largest during the forecast period
The whole almonds segment is expected to be the largest during the forecast period. Whole almonds are a staple in snacking and various culinary applications due to their versatility, nutritional value, and long shelf life. They serve as key ingredients in products ranging from almond milk and butter to confectionery and baked goods. The enduring popularity of whole almonds, coupled with their ease of incorporation into diverse diets, underpins their dominant position in the market.
The dairy alternatives segment is expected to have the highest CAGR during the forecast period
The dairy alternatives segment is expected to have the highest CAGR during the forecast period. The rise in lactose intolerance, along with the increasing consumer preference for vegan and plant-based diets, is propelling the growth of almond-based dairy alternatives. Almond milk, cheese, and yogurts are gaining popularity for their flavor, nutritional profile, and lower environmental impact compared to traditional dairy products, driving the segment's rapid growth.
Region with largest share:
Over the forecast period, North America is poised to dominate the almond ingredients market. The region's large share can be attributed to the high consumer awareness of health and nutrition, the presence of key market players, and the established food and beverage industry. The U.S., being one of the largest producers of almonds, also ensures the ready availability of raw materials, supporting the region's leading position in the market.
Region with highest CAGR:
During the forecast period, the Asia Pacific region is expected to experience rapid expansion in the almond ingredients market. Factors contributing to this growth include rising disposable incomes, urbanization, and the growing adoption of Western dietary habits. Additionally, the expanding middle class in countries like China and India is increasingly demanding healthier and premium food options, which include almond-based products, driving the market's growth in the region.
Key players in the market
Some of the key players in Almond Ingredients Market include Archer Daniels Midland Company, Barry Callebaut Group, Blue Diamond Growers, Borges Agricultural & Industrial Nuts SA, Califia Farms, California Gold Almonds, Graceland Fruit, Harris Woolf California Almonds, John B. Sanfilippo & Son, Inc., Kanegrade Ltd., Mariani Nut, Olam International Limited, Panoche Creek Packing, Royal Nut Company, The Hershey Company, The Wonderful Company LLC and Treehouse Almonds.
Key Developments:
In January 2023, Califia Farms, a renowned and high-quality brand in the plant-based beverage sector, broadened its acclaimed range of dairy-free offerings by introducing USDA-certified Organic Oatmilk and Almondmilk.
In April 2022, Trader Joe's, an American chain of grocery stores, launched Candy Coated Dark Chocolate Covered Almonds. These resemble Easter eggs and the seven-ounce bag retails for $3.99.
Leading Industry Players in the Almond Ingredients Market worldwide:
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Global Almond Ingredients Market Segmentation
The Almond Ingredients Market segmentation encompasses various dimensions including product type, form, distribution channel and application. The almond ingredients market includes various products tailored to meet diverse culinary and nutritional needs. Almond ingredients are available in multiple forms, such as whole, sliced, flour, and milk. Products are distributed through various channels, including online retailers, supermarkets, and specialty stores. Almond ingredients find use in numerous applications, from baking and cooking to health supplements.
Geographic Regions Covered:
North America: United States, Canada, and Mexico.
Europe: Germany, United Kingdom, Italy, France, Spain, and Rest of Europe.
Asia Pacific: Japan, China, India, Australia, New Zealand, South Korea, and Rest of the Asia Pacific.
South America: Argentina, Brazil, Chile, and Rest of South America.
Middle East & Africa: Saudi Arabia, United Arab Emirates, Qatar, South Africa, and Rest of the Middle East & Africa.
Key Questions Answered in This Report:
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Table of Contents (TOC) for the Global Almond Ingredients Market Research Report (2024-2030)
1 Executive Summary ? ??? ? ??
2 Preface ? ???
2.1 Abstract ? ??
2.2 Stake Holders ? ??
2.3 Research Scope ? ??
2.4 Research Methodology ? ??
2.4.1 Data Mining ???
2.4.2 Data Analysis ???
2.4.3 Data Validation ???
2.4.4 Research Approach ???
2.5 Research Sources ? ??
2.5.1 Primary Research Sources ???
2.5.2 Secondary Research Sources ???
2.5.3 Assumptions ??? ? ??
3 Market Trend Analysis ? ???
3.1 Introduction??
?3.2 Drivers??
?3.3 Restraints??
?3.4 Opportunities??
?3.5 Threats??
?3.6 Product Analysis??
?3.7 Application Analysis??
?3.8 Emerging Markets??
?3.9 Impact of Covid-19?? ?????
4 Porters Five Force Analysis???
?4.1 Bargaining power of suppliers??
?4.2 Bargaining power of buyers??
领英推荐
?4.3 Threat of substitutes??
?4.4 Threat of new entrants??
?4.5 Competitive rivalry?? ?????
5 Global Almond Ingredients Market, By Product Type???
?5.1 Introduction??
?5.2 Almond Flour??
?5.3 Almond Milk??
?5.4 Almond Oil??
?5.5 Almond Paste??
?5.6 Whole Almonds??
?5.7 Others Product Types?? ?????
6 Global Almond Ingredients Market, By Form???
?6.1 Introduction??
?6.2 Raw??
?6.3 Blanched??
?6.4 Roasted??
?6.5 Sliced/Slivered??
?6.6 Other Forms?? ?????
7 Global Almond Ingredients Market, By Distribution Channel???
?7.1 Introduction??
?7.2 Hypermarkets/Supermarkets??
?7.3 Convenience Stores??
?7.4 Online Retail??
?7.5 Specialty Stores??
?7.6 Wholesalers??
?7.7 Other Distribution Channels??
8 Global Almond Ingredients Market, By Application???
?8.1 Introduction??
?8.2 Bakery & Confectionery??
?8.3 Cosmetics & Personal Care??
?8.4 Dairy Alternatives??
?8.5 Nut & Seed Butters??
?8.6 Snacks & Cereals??
?8.7 Other Applications?? ????????????????????????????????????????????????????????????????
Continued…
List of Tables ? ? ?
1 Global Almond Ingredients Market Outlook, By Region (2021-2030) ($MN)???
2 Global Almond Ingredients Market Outlook, By Product Type (2021-2030) ($MN)???
3 Global Almond Ingredients Market Outlook, By Almond Flour (2021-2030) ($MN)???
4 Global Almond Ingredients Market Outlook, By Almond Milk (2021-2030) ($MN)???
5 Global Almond Ingredients Market Outlook, By Almond Oil (2021-2030) ($MN)???
6 Global Almond Ingredients Market Outlook, By Almond Paste (2021-2030) ($MN)???
7 Global Almond Ingredients Market Outlook, By Whole Almonds (2021-2030) ($MN)???
8 Global Almond Ingredients Market Outlook, By Others Product Types (2021-2030) ($MN)???
9 Global Almond Ingredients Market Outlook, By Form (2021-2030) ($MN)???
10 Global Almond Ingredients Market Outlook, By Raw (2021-2030) ($MN)???
11 Global Almond Ingredients Market Outlook, By Blanched (2021-2030) ($MN)???
12 Global Almond Ingredients Market Outlook, By Roasted (2021-2030) ($MN)???
13 Global Almond Ingredients Market Outlook, By Sliced/Slivered (2021-2030) ($MN)???
14 Global Almond Ingredients Market Outlook, By Other Forms (2021-2030) ($MN)???
15 Global Almond Ingredients Market Outlook, By Distribution Channel (2021-2030) ($MN)???
16 Global Almond Ingredients Market Outlook, By Hypermarkets/Supermarkets (2021-2030) ($MN)???
17 Global Almond Ingredients Market Outlook, By Convenience Stores (2021-2030) ($MN)???
18 Global Almond Ingredients Market Outlook, By Online Retail (2021-2030) ($MN)???
19 Global Almond Ingredients Market Outlook, By Specialty Stores (2021-2030) ($MN)???
20 Global Almond Ingredients Market Outlook, By Wholesalers (2021-2030) ($MN)???
21 Global Almond Ingredients Market Outlook, By Other Distribution Channels (2021-2030) ($MN)???
22 Global Almond Ingredients Market Outlook, By Application (2021-2030) ($MN)???
23 Global Almond Ingredients Market Outlook, By Bakery & Confectionery (2021-2030) ($MN)???
24 Global Almond Ingredients Market Outlook, By Cosmetics & Personal Care (2021-2030) ($MN)???
25 Global Almond Ingredients Market Outlook, By Dairy Alternatives (2021-2030) ($MN)???
26 Global Almond Ingredients Market Outlook, By Nut & Seed Butters (2021-2030) ($MN)???
27 Global Almond Ingredients Market Outlook, By Snacks & Cereals (2021-2030) ($MN)???
28 Global Almond Ingredients Market Outlook, By Other Applications (2021-2030) ($MN)???
Note:?Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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