The almond ingredients market is expected to grow at a compound annual growth rate of 6.97% over the forecast period to reach a market size of US$10.286 billion in 2027, from US$6.418 billion in 2020.
Introduction
The almond ingredient includes products like whole almonds, almond pieces, almond flour, almond paste, almond milk, almond oil, almond extract, almond flavors, and other such ingredients. They are used for multiple purposes, including making snacks, in bakeries and confectionaries. They are also used in cosmetic industries. Dairy products made with almond milk are popular amongst the vegan population. Almonds also have a high nutritional value.
Market Trend
The key factor driving the demand for almond ingredients is that almonds have a high nutritional value. It is good for maintaining the heart rate and keeping the blood pressure low. Apart from that, almonds are good for Alzheimer's patients as they have vitamin E. Further, a rising plant-based population has contributed to the growth of the market. However, rising tree nut allergies make many people susceptible to digesting almonds. losing their ability to
Growth Factors
Almonds are highly nutritious, they have a high amount of fiber, protein, magnesium, healthy fats, and vitamin E amongst others. They are also high in antioxidants and low in calories. They also serve as small on-the-go snacks. It has also been proven that consumption of peanuts, walnuts, and almonds significantly reduces the risk of having breast cancer by two to three times. Almonds are also considered good for heart disease as they have vitamin E and low overall low cholesterol levels.
Veganism is a lifestyle that excludes the use of animal products, notably in the diet, and is related to a philosophy that opposes the position of animals as commodities. Vegans are those who adhere to this concept and eat a plant-based diet. Almond milk is a close substitute for animal milk. With the rising vegan population, companies are also incentivized to produce plant-based food items. This includes not just making almond milk but also making subproducts like cheese, butter, ice cream, and yogurt, to name a few the examples. In particular, the European population has a high adoption rate of vegan or plant-based products. Vegans in the United Kingdom quadrupled between 2014 and 2019, according to surveys by the Food Standards Agency (FSA) and the National Centre for Social Science Research (Natcen).
Restraint
Almonds can trigger allergies in some people, causing swelling of the tongue, lip, and mouth, scratchy throat, or even itchy mouth. The allergic reaction is caused by a protein found in almonds called amandine. In the case of a severe reaction, it might even cause nausea, vomiting, shortness of breath, hives, impaired voice, low blood pressure, and confusion, amongst other symptoms. Almonds can also cause cyanide poisoning. The better almonds have a high amount of hydrocyanic acid. It is 40% higher than that of the sweet almond. High intakes of hydrocyanic acid can lead to choking, breathing issues, nervous breakdowns, and even death. Each year in the United States, around 200,000 people require emergency medical care for allergic reactions to food. According to food allergy research and education (fare), more than 170 foods have been reported to cause an allergic reaction, including almonds. According to the organization, there are around 3.9 million people who are allergic to tree nuts. Tree nuts include cashews, hazelnuts, walnuts, and almonds, amongst others.
The Impact of the COVID-19 Pandemic on the Almond Ingredients Market:
With outbreaks of coronaviruses, several countries imposed strict restrictions. Due to this, many businesses came to a standstill. Restrictions on international and, domestic travel made it difficult for the companies to import and export almonds. As they grow in cold climatical conditions, consequently, the prices rose. However, further, the market is anticipated to grow with the rising vegan population.
| Report Metric | Details |
| Market size value in 2020 | US$6.418 billion |
| Market size value in 2027 | US$10.286 billion |
| Growth Rate | CAGR of 6.97% from 2020 to 2027 |
| Base year | 2020 |
| Forecast period | 2022–2027 |
| Forecast Unit (Value) | USD Billion |
| Segments covered | Type, Application, And Geography |
| Regions covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Companies covered | Barry Callebaut Group, Blue Diamond Growers, Borges Agricultural And Industrial Nuts, Kenegrade Ltd., Olam International, Archer Daniels Midland Company, Wonderful Company Llc, Treehouse California Almonds, Harris Woolf California Almonds, John B Sanfilippo & Son Inc., Royal Nut Company, Dohler Gmbh |
| Customization scope | Free report customization with purchase |
Segmentation:
Frequently Asked Questions (FAQs)
Q1. What will be the almond ingredients market size by 2027?
A1. The almond ingredients market is expected to reach a market size of US$10.286 billion by 2027.
Q2. What is the size of the global almond ingredients market?
A2. Almond Ingredients Market was valued at US$6.418 billion in 2020.
Q3. What are the growth prospects for the almond ingredients market?
A3. The global almond ingredients market is expected to grow at a CAGR of 6.97% over the forecast period.
Q4. What factors are anticipated to drive the almond ingredients market growth?
A4. The key factor driving the demand for almond ingredients is that almonds have a high nutritious value.
Q5. How is the global almond ingredients market segmented?
A5. The almond ingredients market has been segmented by type, application, and geography.
1. INTRODUCTION
1.1. Market Definition
1.2. Market Segmentation
2. RESEARCH METHODOLOGY
2.1. Research Data
2.2. Assumptions
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. The Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. ALMOND INGREDIENTS MARKET ANALYSIS, BY TYPE
5.1. Introduction
5.2. Whole Almond
5.3. Almond Pieces
5.4. Almond Flour
5.5. Almond Paste
5.6. Almond Milk
5.7. Almond oil
5.8. Almond extract
6. ALMOND INGREDIENTS MARKET ANALYSIS, BY APPLICATION
6.1. Introduction
6.2. Bakery and Confectionery
6.3. Dairy (milk substitute & ice creams and nut & seed butters)
6.4. Snacks and Cereals
6.5. Cosmetics
6.6. Others
7. ALMOND INGREDIENTS MARKET ANALYSIS, BY GEOGRAPHY
7.1. North America
7.1.1. USA
7.1.2. Mexico
7.1.3. Canada
7.2. South America
7.2.1. Brazil
7.2.2. Argentina
7.2.3. Others
7.3. Europe
7.3.1. United Kingdom
7.3.2. Germany
7.3.3. France
7.3.4. Spain
7.3.5. Others
7.4. Middle East and Africa
7.4.1. Israel
7.4.2. Saudi Arabia
7.4.3. Others
7.5. Asia Pacific
7.5.1. China
7.5.2. Japan
7.5.3. South Korea
7.5.4. India
7.5.5. Others
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Barry Callebaut Group
9.2. Blue Diamond Growers
9.3. Borges Agricultural And Industrial Nuts
9.4. Kenegrade Ltd.
9.5. Olam International
9.6. Archer Daniels Midland Company
9.7. Wonderful Company Llc
9.8. Treehouse California Almonds
9.9. Harris Woolf California Almonds
9.10. John B Sanfilippo & Son Inc.
9.11. Royal Nut Company
9.12. Dohler Gmbh
Barry Callebaut Group
Blue Diamond Growers
Borges Agricultural And Industrial Nuts
Olam International
Archer Daniels Midland Company
Wonderful Company Llc
Treehouse California Almonds
Harris Woolf California Almonds
John B Sanfilippo & Son Inc.
Royal Nut Company
Dohler Gmbh
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