Almond Ingredients Market Size (2024 - 2029)

The almond ingredients market is experiencing significant growth, driven by the increasing consumer shift towards health-conscious food options. The market's expansion is attributed to the versatile and nutritious profile of almond ingredients, which are rich in vitamins, proteins, carbohydrates, fiber, and minerals. These ingredients are being incorporated into various food applications, catering to the demand for plant-based foods like almond milk and paste. The rising adoption of healthy lifestyles further fuels the market's growth trajectory.

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Market Size of Almond Ingredients Industry

Almond Ingredients Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 14.10 Billion
Market Size (2029) USD 21.70 Billion
CAGR (2024 - 2029) 9.07 %
Fastest Growing Market Asia Pacific
Largest Market Europe

Major Players

Almond Ingredients Market Major Players

*Disclaimer: Major Players sorted in no particular order

Almond Ingredients Market Analysis

The Almond Ingredients Market size is estimated at USD 14.10 billion in 2024, and is expected to reach USD 21.70 billion by 2029, growing at a CAGR of 9.07% during the forecast period (2024-2029).

Almond ingredients offer consumers rich nutritional value, boasting a high mineral and nutrient content. This versatility and health appeal have seen almond ingredients integrated into a wide array of food applications. During 2022-2023, global almond consumption, as reported by the USDA, stood at approximately 1.49 million metric tons. Driven by a global shift toward healthier lifestyles and a preference for health-conscious food, the demand for almond ingredients is on the rise. Almonds, beyond their widespread use in various food applications, pack a nutritional punch, offering vitamins, protein, carbohydrates, fiber, fats, and essential minerals. Furthermore, the increasing popularity of plant-based diets is opening up new avenues for almond derivatives like almond milk and paste.

Studies highlight almonds' role in maintaining a healthy cholesterol profile, with a focus on reducing LDL (bad) cholesterol while promoting HDL (good) cholesterol. This heart-healthy association is a significant draw for health-conscious consumers. Almonds' high fiber and healthy fat content also contribute to a slower increase in blood sugar levels post-meal, making them an appealing choice for people with diabetes and those monitoring their blood sugar. These factors collectively underscore the positive trajectory of the almond ingredients market.

Almond Ingredients Industry Segmentation

Almond ingredients are derived from one of the popularly consumed tree nut almonds packed with nutrients. Almonds are a good source of healthy fats, protein, fiber, vitamin E, calcium, magnesium, and other essential vitamins and minerals. They come in various forms and can be consumed raw, roasted, or salted. Beyond snacking, almonds are a versatile ingredient used in baking, preparing desserts, and even savory dishes. The almond ingredients market scope encompasses the following segments - type, application, and geography. By type, the market is further sub-segmented into whole almond, almond pieces, almond flour, almond paste, almond milk, and other types. The application segment is subdivided into bakery, dairy, confectionery, sweet and savory snacks, and other applications. The geography is also further sub-segmented into North America, Europe, Asia Pacific, South America, and Middle East and Africa. The market sizing and forecasts have been done for each segment based on value (USD).

By Type
Whole Almond
Almond Pieces
Almond Flour
Almond Paste
Almond Milk
Other Types (Almond Oil, Almond Extract, Etc.)
By Application
Bakery
Dairy
Confectionery
Sweet and Savory Snacks
Other Applications
By Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Spain
Italy
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
United Arab Emirates
South Africa
Rest of Middle East and Africa
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Almond Ingredients Market Size Summary

The almond ingredients market is experiencing significant growth, driven by the increasing consumer shift towards health-conscious and plant-based diets. Almond ingredients, known for their rich nutritional profile, are being incorporated into various food applications, enhancing their appeal as versatile and healthy options. The demand for almond-based products such as almond milk and paste is rising, fueled by the broader trend of plant-based food consumption. This shift is further supported by the growing popularity of snack bars, where almond ingredients are used to create healthier alternatives, catering to the health and wellness trends prevalent in both developed and developing economies.

Regionally, Europe stands out as the largest market for almond ingredients, with a notable increase in the consumption of almond-based snacks due to their health benefits. The demand for natural and low-sugar ingredients is particularly driving market growth in this region, addressing concerns related to obesity and nutritional intake. Meanwhile, the Asia-Pacific region is witnessing the fastest growth, reflecting a burgeoning interest in almond ingredients. Key industry players, including Archer Daniels Midland Company and Blue Diamond Growers, are actively engaging in strategies such as expansions and new product launches to capitalize on the growing market opportunities.

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Almond Ingredients Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Increasing Demand for Clean Label Products to Expand Application and Usage

      2. 1.1.2 Surge in Demand for Convenient On-the-go Snacking Options

    2. 1.2 Market Restraints

      1. 1.2.1 Presence of Other Alternatives Hampering Market Growth

    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 By Type

      1. 2.1.1 Whole Almond

      2. 2.1.2 Almond Pieces

      3. 2.1.3 Almond Flour

      4. 2.1.4 Almond Paste

      5. 2.1.5 Almond Milk

      6. 2.1.6 Other Types (Almond Oil, Almond Extract, Etc.)

    2. 2.2 By Application

      1. 2.2.1 Bakery

      2. 2.2.2 Dairy

      3. 2.2.3 Confectionery

      4. 2.2.4 Sweet and Savory Snacks

      5. 2.2.5 Other Applications

    3. 2.3 By Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

        4. 2.3.1.4 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Russia

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Italy

        7. 2.3.2.7 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 United Arab Emirates

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Rest of Middle East and Africa

Almond Ingredients Market Size FAQs

The Almond Ingredients Market size is expected to reach USD 14.10 billion in 2024 and grow at a CAGR of 9.07% to reach USD 21.70 billion by 2029.

In 2024, the Almond Ingredients Market size is expected to reach USD 14.10 billion.

Almond Ingredients Market Report Snapshots

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