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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 2015, Barry Callebaut 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 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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The major players in the global almond ingredients market are Archer Daniels Midland Company, Olam International Limited, Barry Callebaut Group, Blue Diamond Growers, John B. Sanfilippo & Son, Borges Agricultural & Industrial Nuts (Bain), Savencia SA, Kanegrade Limited, and 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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