Almond Ingredients Market Outlook
According to a new report by Expert Market Research titled, “Almond Ingredients Market Growth, Size, Share, Analysis, Report and Forecast 2024-2032″, the global almond ingredients market is projected to grow at a CAGR of 3.8% between 2024 and 2032. Aided by the escalating trend towards health-conscious eating habits and the manifold applications of almond-based ingredients in a multitude of sectors, the market is expected to grow significantly by 2032.
Almonds, the edible seeds of the Prunus dulcis tree, have long been esteemed for their versatile culinary applications and substantial nutritional benefits. Predominantly, almond ingredients are incorporated into various food items, spanning from dairy alternatives, snacks, and confectioneries to bakery products. These components are lauded not just for their rich texture and distinctive flavour but also for their myriad health advantages, including promoting heart health, managing weight, and providing essential nutrients. Beyond the realm of food, almond ingredients find their niche in skincare and personal care products due to their nourishing properties.
One of the pivotal drivers fostering the global almond ingredients market growth is the burgeoning inclination towards healthier dietary choices. The recognition of almonds as a heart-healthy snack, replete with monounsaturated fats, antioxidants, and vitamins, has significantly escalated their consumption. Coupled with this is the increasing awareness about the detrimental effects of processed and junk foods, which has further steered consumers towards natural and nutrient-dense almond products.
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Additionally, the global dietary landscape is witnessing a pronounced shift towards plant-based and dairy-free diets, bolstered by the rising tide of veganism and lactose intolerance. This transition has heightened the demand for almond-based alternatives such as almond milk, almond butter, and almond-based yoghurts, leading to a significant almond ingredients market expansion. Their creamy consistency and rich taste make them a sought-after choice for consumers desiring dairy alternatives without compromising on flavour or texture.
The cosmetic and personal care sector, too, underscores the importance of almond ingredients. Due to their high vitamin E content and skin-hydrating attributes, almonds have become an indispensable ingredient in moisturisers, face packs, and other skincare formulations. Their anti-inflammatory properties further accentuate their suitability for sensitive skin types, thereby widening their consumer base. This factor is further boosting the almond ingredients market demand.
Nevertheless, the applications of almond ingredients aren’t restricted to edibles and cosmetics alone. The trend of using natural and sustainable ingredients in various industrial sectors has been gaining momentum, with almonds marking their presence in the production of eco-friendly inks, dyes, and even as natural fillers in certain manufacturing processes.
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Almond Ingredients Market Segmentation
The market can be divided based on type, application, and region.
Market Breakup by Type
- Whole Almonds
- Almond Pieces
- Almond Flour
- Almond Milk
- Others
Market Breakup by Application
- Bakery and Confectionery
- Milk Substitutes and Ice Creams
- Nut and Seed Butters
- RTE Cereals
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global almond ingredients market. Some of the major players explored in the report by Expert Market Research are as follows:
- Olam International Limited
- Barry Callebaut Group
- Blue Diamond Growers
- Kind LLC
- Archer Daniels Midland Company (NYSE: ADM)
- John B. Sanfilippo & Son, Inc.
- Borges Agricultural & Industrial Nuts, S.A.
- Almondco Australia Ltd
- Others
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