Global Almond Ingredients Market in Worldwide See Major Growth for The Next Few Years

The growth of the Almond ingredients market is primarily driven rise in trend of consuming healthier food and increasing demand for plant-based proteins & beverages. Almonds ingredients market was valued at USD 9.1 billion in 2018 and is expected to reach USD 15.9 billion in 2026, growing at a CAGR of 8.4% during the forecast period.

Almond ingredients provide consumers with a healthy dietary value. The high existence of minerals and nutrients has made almond components versatile and healthy, which are added to distinct types of food applications. Almond ingredients are added to both the sort of food that is tasty and sweet to give distinct flavours and tastes in the food. There are also various health benefits associated with the almond’s ingredients including reducing the cholesterol, high in vitamin E, reduce the risk of heart diseases, control the blood sugar and others. The growth of the almond ingredients market is primarily driven by rising in the trend of consuming healthier food and increasing demand for plant-based proteins & beverages helps in conserving natural resources are the key factors driving the growth of this market. Furthermore, advancements in technology enabling the trade of raw materials drive the market, notably, and it is expected to have a strong impact on the market over the forecast period. However, incidences of almond allergy among consumers and volatile prices of raw materials investment hamper the growth of the Almond ingredients industry.

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Most of the companies look for strategies such as merger & acquisition, partnership, contracts, agreements, new product launch, in order to gain a competitive edge over other companies. The European region also records the existence of major producers of almond ingredients, including the Barry Callebaut Group (Switzerland), Borges Agricultural & Industrial Nuts (Spain) and Savencia SA (France).

Key Findings:

• Based on type, the whole almond type accounts of the largest share in the market and are expected to grow at a CAGR of around 6.9% during the forecast period
• Based on application, the snacks and bars segment is expected to grow at a CAGR of around 7.9% throughout the forecast period
• Europe accounted for nearly 52% share of the global Almond ingredients market in 2018

Recent News:

• In February 2019, Blue Diamond Growers (US) signed a multi‐year licensing partnership agreement with Grupo LAlA (Mexico), a leading healthy and nutritious foods company. This agreement would help the company sell and distribute its almond milk/beverage, “Almond Breeze”, in Mexico.
• In January 2019, Blue Diamond Growers (US) started the expansion of its processing facility in Turlock, California, US, to deliver innovative products and expand value-added product lines, worldwide.
• In November 2017, John B. Sanfilippo & Son, Inc. (US) acquired Squirrel Brand, L.P (US), a snack mix and roasted nuts maker, for USD 31.5 million. The acquisition would help the company to expand its nuts and snacks business.