Global Almond Ingredients Market Report and Forecast 2024-2032

Global Almond Ingredients Market Size

The global almond ingredients market size was valued at USD 12.40 billion in 2023. The market is further projected to grow at a CAGR of 10.5% between 2024 and 2032, reaching a value of USD 30.37 billion by 2032.

Key Takeaways

• California produces 80% of the global almond supply, making it the world’s largest grower of almonds.

• In 2022, the United States was the world's leading supplier of almonds and exported roughly 1.9 billion pounds to China, India, Spain, and the United Arab Emirates.

• About 162,000 metric tons of almonds were imported into India in 2021.

• The import value of in-shell almonds to Turkey amounted to about USD 35.6 million in 2022.

Almond ingredients are products derived from almonds, such as almond milk, almond flour, almond butter, almond oil, and almond protein. Almond ingredients are widely used in food and beverage, cosmetics, pharmaceuticals, and personal care industries, as they offer various health benefits, such as lowering cholesterol, improving skin health, and enhancing cognitive functions.

The almond ingredients market outlook is being influenced by several key factors, such as the increasing demand for plant-based products, the rising awareness of the nutritional value of almonds, the growing popularity of gluten-free and vegan diets, and the expanding applications of almond ingredients in various sectors.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Key Trends and Developments

Growing consumer preference for plant-based and gluten-free products and increasing awareness of the health benefits of almonds is driving the almond ingredients market growth

Global Almond Ingredients Market Trends

Almond is one of the nutritionally rich dry fruits as it contains carbohydrates, protein, vitamins, and other minerals. Almonds have positive health characteristics, and a large proportion of global population consumes them. For instance, almond milk is commonly consumed by people who are lactose intolerant and cannot consume regular milk. Furthermore, almond products are widely used in bakery, confectionery, sweets and bars, and ice creams, which has increased the almond ingredients market value.

Furthermore, the almond ingredients market expansion can be ascribed to the increasing snack food industry, the inclusion of health-based ingredients, the rising introduction of almond-based goods, associations, and organisations supporting the sector of almond ingredients, and technological advances allowing raw material trade.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Almond Ingredients Market Segmentation

Global Almond Ingredients Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Bakery and confectionery segment to hold the leading market share due to the rising demand for gluten-free, vegan, and organic bakery items

Bakeries and confectioneries are the largest and fastest-growing application segment of the global almond ingredients market. Almond ingredients are used to enhance the taste, texture, and appearance of various bakery and confectionery products, such as cakes, cookies, chocolates, candies, and bars. They also provide health benefits, such as high protein, fibre, vitamin E, and healthy fats, to the consumers of bakery and confectionery products. The rising demand for gluten-free, vegan, and organic bakery and confectionery products is driving the growth of this segment.

Milk substitutes and ice creams are another significant application in the almond ingredients market. Almond ingredients are used to produce dairy alternatives, such as almond milk, almond yoghurt, almond cheese, and almond ice cream, which cater to the growing vegan, lactose-intolerant, and health-conscious consumers. Almond milk is the most popular and widely consumed plant-based milk, as it offers a creamy texture, a nutty flavour, and a high nutritional value. It is also used as an ingredient in various beverages, such as coffee, tea, smoothies, and shakes.

According to almond ingredients market analysis, nut and seed butters are another important application that will gain traction in the forecast period. Almond ingredients are used to produce almond butter, which is a spreadable paste made from roasted or raw almonds. Almond butter is a rich source of protein, fibre, healthy fats, antioxidants, and minerals, and has a smooth and creamy texture. Almond butter is widely being used as a spread on bread, crackers, and muffins, as well as a dip for fruits, vegetables, and snacks, which can impact the overall almond ingredients market size.

Whole almonds are high in demand due to growing preference for healthy snacks variants

Whole almonds are anticipated to lead the almond ingredients market share as whole almonds are consumed as snacks, or used as toppings, fillings, or coatings in various food products. Whole almonds are rich in protein, fibre, healthy fats, antioxidants, and minerals, and can help lower cholesterol, blood pressure, and blood sugar levels. The demand for whole almonds is expected to increase due to the growing preference for healthy and natural snacks, and the rising awareness of the nutritional benefits of almonds.

Almond pieces, on the other hand, are chopped or sliced almonds that are used as ingredients in various food products, such as bakeries, confectionery, cereals, bars, and spreads. Almond pieces add crunch, texture, flavour, and visual appeal to food products, and enhance their nutritional value. The demand for almond pieces is expected to increase due to the growing diversification of food products that incorporate almonds, and the increasing consumer preference for plant-based and gluten-free products.

Almond flour is a finely ground almond meal that is used as a substitute for wheat flour in various food products, such as bakery, confectionery, and pasta. Almond flour is gluten-free, low-carb, high-protein, and high-fibre, and can help improve blood lipid profiles, insulin sensitivity, and satiety. As per the almond ingredients market insights, demand for almond flour is expected to increase due to the growing consumer demand for gluten-free, low-carb, and keto-friendly products, and the increasing awareness of the health benefits of almond flour.

Almond milk is a plant-based beverage that is made from almonds and water, and sometimes enriched with vitamins and minerals. Almond milk is lactose-free, dairy-free, soy-free, and low-calorie, and can help reduce the risk of cardiovascular diseases, diabetes, and obesity. This segment may capture a significant almond ingredients market share in the forecast period as the demand for almond milk have increased due to the growing consumer preference for plant-based and vegan products, and the increasing availability and affordability of almond milk.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Competitive Landscape of Almond Ingredients Industry

Market players are incorporating almond ingredients into food products to cater to growing consumer demand, further increasing their acquisitions to enhance their product portfolio

Other key players in the global almond ingredients market include Kind LLC, John B. Sanfilippo & Son, Inc., Borges Agricultural & Industrial Nuts, S.A., and Almondco Australia Ltd, among others.

Global Almond Ingredients Market Analysis by Region

North America dominates the market as the region is the largest consumer, exporter, and producer of almonds and almond ingredients

North America has the largest market for almond ingredients and the region is expected to maintain its dominance throughout the forecast period, owing to the high consumption of almonds and almond products, especially in the United States. The US is the world's largest producer and exporter of almonds, and the largest consumer of almond ingredients. The US almond industry is also supported by the Almond Board of California, which promotes the research, innovation, and marketing of almonds and by-products. According to almond ingredients market report, the growing demand for almond ingredients in North America is attributed to the rising awareness about the health benefits of almonds, such as lowering cholesterol, improving heart health, and enhancing cognitive function.

Meanwhile, the increasing demand of almond ingredients in the Latin America region is influenced by global trends and innovations, such as the rising demand for natural, organic, vegan, and clean-label products. Brazil, Mexico, Argentina, and Chile are contributing to the growth of the Latin American almond ingredients market are as they have a large and growing population, a strong and diverse food and beverage industry, and a high consumption of nuts and dried fruits. Some of the key players operating in this region are Olam International, Savencia SA, and Blue Diamond Growers. In 2020, Olam International acquired a 100% stake in Chile-based Nutrifoods, a leading producer of almond ingredients, for USD 108 million, which enhanced Olam’s offerings in the almond market of Latin America.

Europe almond ingredients market is expected to witness a moderate growth rate in the coming years due to the high consumption of almonds, especially in Spain, Germany, France, Italy, and the UK. Almonds are a traditional ingredient in European cuisine, as they are used in various dishes, such as marzipan, nougat, macarons, and almond croissants. The almond ingredients market in Europe is also driven by the growing adoption of almond ingredients by food manufacturers and restaurants, who are seeking to offer differentiated products, such as almond milk, almond butter, and almond protein, to their customers.  In 2020, Bredabest launched a new product line of almond ingredients, called Bredabest Organic, which was certified organic by the European Union. It offers a range of almond products, such as almond flour, almond paste, and almond butter.

Key Highlights of the Report

View Our Best Selling Reports:

Bed and Bath Linen Market

Ductile Iron Pipes Market

India Ductile Iron Pipes Market

Micro Irrigation Systems Market

Pharmaceutical Packaging Market

Polypropylene Market

Whey Protein Concentrate Market

India Baby Care Products Market

United Kingdom Carbon Dioxide Market

Latin America Paints and Coatings Market

Almond Ingredients Market Report Snapshots

Almond Ingredients Market Size

Almond Ingredients Market Trends

Almond Ingredients Market Regional Analysis

Almond Ingredients Companies