Almond-based Spreads Market Size (2024 - 2029)

The almond-based spreads market is experiencing growth driven by a shift towards healthier food choices due to the rise in lifestyle-related diseases globally. The nutritional benefits of almonds, including essential vitamins and minerals, are encouraging consumers to substitute traditional spreads with almond-based alternatives. Additionally, the increasing prevalence of peanut allergies in several countries is prompting a demand for these vegan spreads. The market's expansion is further supported by the introduction of new flavors and organic certifications, which enhance product differentiation.

Market Size of Almond-based Spreads Industry

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Almond-based Spreads Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 5.80 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Low

Major Players

Almond-based Spreads Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Almond-based Spreads Market Analysis

The almond-based spreads market is projected to register a CAGR of 5.8 % during the forecast period.

The increase in lifestyle diseases all over the world, such as obesity, diabetes, and cardiovascular disorders, among others, has led consumers to adopt healthier food choices. The health benefits associated with almonds drive the growth of the almond-based spreads market. The manufacturers in the industry claim that almond-based spreads have essential nutrients, such as fiber, calcium, iron, magnesium, riboflavin, vitamin E, and zinc. Hence, consumers are replacing traditional items, such as jams, sauces, and mayonnaise, with almond-based spreads. Moreover, consumer preference is influenced due to the presence of healthy fats in almonds that lead to better skin, hair, metabolism, energy, and immunity.

The increasing concern of peanut allergies is prevalent in countries such as the United States, Canada, the United Kingdom, and Australia, among others. This is estimated to boost the sales of almond-based spreads as consumers are looking for alternative vegan spreads. Further, the differentiation of almond-based spreads with the inclusion of new flavors and organic certification is the key factor driving the growth of the market studied.

Almond-based Spreads Industry Segmentation

Almond-based spread is a paste made of almonds and is often used along with bread, sandwiches, and many sweet and savory recipes. 

The almond-based spreads market is segmented by product type, category, form, distribution channel, and geography. By product type, the market is segmented into plain and flavored almond spreads. The flavored almond spread is further segmented into cocoa almond spread, coconut almond spread, honey almond spread, and other flavored almond spreads. By form, the market is segmented into smooth and crunchy almond spreads. By category, the market is segmented into organic and conventional. Based on the distribution channel, the market studied is segmented into supermarkets/hypermarkets, convenience stores, online stores, and other distribution channels. It analyzes emerging and established economies worldwide, comprising North America, Europe, South America, Asia-Pacific, and Middle-East and Africa. For each segment, the market sizing and forecasts are provided in terms of the value in USD million.

Type
Plain
Flavored
Cocoa Almond Spread
Coconut Almond Spread
Honey Almond Spread
Other Flavored Almond Spreads
Form
Smooth
Crunchy
Category
Organic
Conventional
Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Online Retail Stores
Other Distribution Channel
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
United Kingdom
Germany
Spain
France
Italy
Russia
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa
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Almond-based Spreads Market Size Summary

The almond-based spreads market is experiencing significant growth, driven by a global shift towards healthier food choices due to the rising prevalence of lifestyle diseases such as obesity, diabetes, and cardiovascular disorders. Consumers are increasingly replacing traditional spreads like jams and mayonnaise with almond-based alternatives, attracted by the health benefits and essential nutrients found in almonds, including fiber, calcium, and vitamins. The market is further bolstered by the growing concern over peanut allergies, particularly in regions like North America and Europe, prompting consumers to seek vegan alternatives. The introduction of new flavors and organic certifications is also contributing to the market's expansion, as consumers seek differentiated and health-conscious options.

The demand for almond-based spreads is further fueled by the increasing number of vegan and vegetarian consumers, who view nuts as a viable protein alternative. This trend is supported by changing lifestyle choices that favor organic, low-calorie, and keto-friendly diets, prompting manufacturers to innovate their product offerings. The market is highly competitive, with major players like The Hershey Company and My Raw Joy leveraging product innovations and strategic partnerships to enhance their market presence. Additionally, the demand for quick, nutrient-rich breakfast options among health-conscious individuals and those engaged in sports and outdoor activities is driving the consumption of almond-based spreads, which are valued for their protein and healthy fat content.

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Almond-based Spreads Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Plain

      2. 2.1.2 Flavored

        1. 2.1.2.1 Cocoa Almond Spread

        2. 2.1.2.2 Coconut Almond Spread

        3. 2.1.2.3 Honey Almond Spread

        4. 2.1.2.4 Other Flavored Almond Spreads

    2. 2.2 Form

      1. 2.2.1 Smooth

      2. 2.2.2 Crunchy

    3. 2.3 Category

      1. 2.3.1 Organic

      2. 2.3.2 Conventional

    4. 2.4 Distribution Channel

      1. 2.4.1 Supermarkets/Hypermarkets

      2. 2.4.2 Convenience Stores

      3. 2.4.3 Online Retail Stores

      4. 2.4.4 Other Distribution Channel

    5. 2.5 Geography

      1. 2.5.1 North America

        1. 2.5.1.1 United States

        2. 2.5.1.2 Canada

        3. 2.5.1.3 Mexico

        4. 2.5.1.4 Rest of North America

      2. 2.5.2 Europe

        1. 2.5.2.1 United Kingdom

        2. 2.5.2.2 Germany

        3. 2.5.2.3 Spain

        4. 2.5.2.4 France

        5. 2.5.2.5 Italy

        6. 2.5.2.6 Russia

        7. 2.5.2.7 Rest of Europe

      3. 2.5.3 Asia-Pacific

        1. 2.5.3.1 China

        2. 2.5.3.2 Japan

        3. 2.5.3.3 India

        4. 2.5.3.4 Australia

        5. 2.5.3.5 Rest of Asia-Pacific

      4. 2.5.4 South America

        1. 2.5.4.1 Brazil

        2. 2.5.4.2 Argentina

        3. 2.5.4.3 Rest of South America

      5. 2.5.5 Middle East and Africa

        1. 2.5.5.1 Saudi Arabia

        2. 2.5.5.2 South Africa

        3. 2.5.5.3 Rest of Middle East and Africa

Almond-based Spreads Market Size FAQs

The Almond-based Spreads Market is projected to register a CAGR of 5.80% during the forecast period (2024-2029)

The Hershey Company, My Raw Joy, Ingenuity Brands, Natural World and ImmaculateBites (India) Private Limited are the major companies operating in the Almond-based Spreads Market.

Almond-based Spreads Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)