Global Almond Ingredients Market is Expected to Grow at a CAGR of 10.5% in the Forecast Period of 2024-2032

The global almond ingredients market is being driven by the growing health consciousness among the consumers. Almonds are a source of vitamin E, magnesium, and high-quality proteins. The key contributor to the almond ingredients market growth is the increasing demand for healthy snacking options such as snack bars as several cereal-based and granola snack bars manufacturers incorporate almond-based ingredients in their products to provide consumers with a healthier snack bar alternatives. The rise in demand for plant-based protein and beverages and natural and low sugar ingredients are other factors propelling the market growth.

The market is also expected to be driven by the rising M&A activities in the industry and expansions of capacities being undertaken by key players in the industry. In 2016, Barry Callebaut Group acquired the assets of American Almond Products Co., Inc to expand their product portfolio of specialty/nut-based products and strengthen their market position in adjacent ingredients products. With almond ingredients being increasingly incorporated into confectionery items, such acquisitions by the key players in the industry had influenced the market positively. More recently, Almondco Australia Ltd announced that it is expanding its facility at Riverland, including its almond processing segment. The facility is expected to double in size by 2026. Such planned expansions are expected to significantly add to the market growth in the forecast period.

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Market Analysis by Type, Application, and Region:

• The market on the basis of type can be divided into white almonds, almond pieces, almond flour, and almond milk, among others.
• Based on application, the industry can be divided into bakery and confectionery, milk substitutes and ice creams, nut and seed butters, and RTE cereals, among others.
• The regional markets for almond ingredients include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global almond ingredients market is buoyed by the nutritional benefits offered by the almond ingredients.
• The rising demand for snack bars and healthy snacking is also driving the market growth.
• The launch of several almond-based products by the key players and associated industries is expected to have a positive impact on the market.
• The growing demand for vegan alternatives to dairy products is also expected to support the market growth in the coming years.

Key Offerings of the Report:

• The EMR report gives an overview of the global almond ingredient market for the periods (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, applications, and major regions of almond ingredients. 
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global almond ingredients market are Olam International Limited, Barry Callebaut Group, Blue Diamond Growers, Kanegrade Ltd, Archer Daniels Midland Company (NYSE: ADM), John B. Sanfilippo & Son, Inc., Borges Agricultural & Industrial Nuts, S.A., and Almondco Australia Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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