Global Almond Ingredients Market
The GMI Research predicts that the Almond Ingredients Market will experience an upsurge in demand over the forecast period. This is mainly due to the increasing preference of the obese and geriatric population for food products with nut ingredients, escalation in health awareness, and the changing lifestyle of individuals.
Introduction of the Almond Ingredients Market
Almonds are a rich source of various nutrients like carbohydrates, vitamins, protein, and other minerals. The almond ingredients are the byproducts of almonds available in forms, including flour and milk.
Key Players of the Market:
- HARRIS WOOLF CALIFORNIA ALMONDS
- BORGES AGRICULTURAL & INDUSTRIAL NUTS, SA
- Blue Diamond Growers
- Olam International
- The Wonderful Company LLC
- SAVENCIA SA
- JOHN B. SANFILIPPO & SON, INC.
- Barry Callebaut
Almond Ingredients Market Dynamics
The crucial factor supplementing the growth of the global almond ingredient market is the increasing proclivity of the overweight and geriatric population towards food items with nut ingredients, especially in Germany, U.K., and the U.S. In addition, the surging demand for nutritious and wholesome products led by the rising health recognition and altering lifestyle of consumers has raised the almond ingredient market size. Furthermore, the escalating demand for healthy snacking alternatives such as biscuits, chips, snack bars with nut ingredients, and the rising inclination of individuals towards nourishing and ready-to-make snacking options will offer enormous opportunities for the market growth. The sudden outbreak of the coronavirus has stimulated consumers to opt for healthy items to improve their immunity has bolstered the market share.
Application Segment Drivers
Based on the application, whole almonds will lead the market over the coming years. There are two types of almonds, which include blanched and organic. The soaring demand for blanched whole almonds across confectionery and bakery uses to garnish the desserts is responsible for the market growth. Furthermore, the transpiring tendency of gifting them on occasions further elevates the almond ingredient market growth.
Type Segment Drivers
Based on the type, the bars are contemplated to expand at a higher share over the coming years owing to the aggravating demand of consumers for demand for suitable and nutritious food options. The report by the Almond Board of California states that the cereal bars and snacks encountered an amplification of 80% over the last five years. Also, the potential of almonds to engender a crunchier texture in a bar with all nutrients and better taste will propel the market growth.
Based on the regional coverage, Asia-Pacific is predicted to hold a prominent market share in the near future. This is because of the modifying lifestyle of individuals and mounting per capita income. The World Bank asserted that APAC gauges to be the fastest-growing nation in the world. This is attributed to the diet difference, increasing migration to a rural area, and the establishment of different food policies in the food sector. In addition to this, transforming the choice of consumers for healthful and beneficial food products is proliferating the global almond ingredient market share.
Almond Ingredients Market Segmentation:
Segmentation by Type
- Whole Almonds
- Almond Pieces
- Almond Flour
- Almond Paste
- Almond Milk
Segmentation by Application
- Milk Substitutes & Ice Creams
- Nut & Seed Butters
- RTE cereals
Segmentation by Region:
- Asia Pacific
- Rest of APAC
- North America
- United States of America
- United Kingdom
- Rest of Europe
- South Africa
- Saudi Arabia
About The Company
A market research and consulting company, GMI Research, offers various enterprises business insights and market research reports. Our research team accumulates all the relevant information about several industries using both internal and external databases. The focus of the organization is to acknowledge our clients with the upcoming opportunities and challenges across different industries. The team assists clients in comprehending the influence of market dynamics like size, share, drivers, growth opportunities, and other aspects. We try to offer a step-by-step solution to our clients to reach a managerial and actionable decision. The enterprise got featured in the list of Silicon India Magazine in 2018 as one of the Most Promising Market Research Consultants.
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