Almond Ingredients Market Size (2024 - 2029)

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).