The global almond ingredients market size is expected to reach US$ 33.43 Bn by the end of 2030. A recent study by Future Market Insights (FMI) forecasts that the market will exhibit impressive growth at a CAGR of 10.3% between 2020 and 2030. According to the report, the rising demand for healthy and nutrition rich products is boosting the almond ingredients market. The report offers an exhaustive market overview, providing insights into prevailing trends and future scenario. It also contains various data and graphs to support information compiled within.
- The estimated value of the market was at US$ 12.6 Bn in 2020. Through the course of the report’s forecast period, the market is likely to rise at a remarkable pace of growth
- Regionally, North America holds dominant share in the market.
- Europe and Asia are expected to emerge as attractive markets for almond ingredients.
- Due to coronavirus outbreak consumers are more inclined towards healthy food and turning into health-conscious diets. This will surge the demand in the almond ingredients market during the forecast period.
- Key players are likely to focus on product innovations and business collaborations to stay relevant in developed markets.
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“Rising demand for nutritious food and almond based snacks in Europe, besides reduction in price of almonds in the U.S. will aid the overall expansion of the almond ingredients market amidst the prevailing scenario,” said a lead analyst at FMI.
Increased Consumer Inclination towards Healthy Food and Snacks to sustain during the Extended Period of Lockdown will Fuel Demand
Consumers are now focusing on nutrition rich products to stay healthy and fit. Almond ingredients are often found in dietary supplements since they are rich in antioxidants and are naturally conserving additive. This is a key factor fuelling the demand for almond ingredients. The rising demand for natural and low-sugar ingredients is also driving the almond ingredients market. Almonds are rich in minerals, proteins and fibres and are associated with many health benefits such as controlling blood pressure and sugar level in human body. Because of these health benefits, they are often included in snacks and comfort food items. Therefore, the surging sales of snacks and comfort food as consumers stockpile on essential commodities to sustain themselves during lockdown periods amidst COVID-19 outbreak will benefit the market.
Who is winning?
Some of the leading players operating in the Almond Ingredients market Archer Daniels Midland Company, Olam International Limited, John B. Sanfilippo & Son, Barry Callebaut Group, Blue Diamond Growers, Borges Agricultural & Industrial Nuts, The Wonderful Company, Döhler GmbH, Royal Nut Company, Kanegrade Limited and others. In order to capture a larger market share, key market players are adopting various initiatives and adopting strategies such as entering into partnerships, engaging in mergers and acquisitions and maintaining competitive pricing.
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- In October 2018, Döhler GmbH acquired Nutrafood. The aim behind the acquisition was to expand the product portfolio as well as to increase the production capacity of nut segment.
- In 2019, Olam International Limited acquired Hughson Nut Inc. for expanding their business footprints in East Asia and Europe as well as to increase the production capacity of almond ingredients to fulfill the consumers rising requirements.
Get Valuable Insights into Almond Ingredients Market
Future Market Insights, in its new report, presents an unbiased analysis of the global Almond Ingredients market, covering historical demand data and forecast figures for the period between 2020 and 2030. The study divulges compelling insights into growth witnessed in the market. On the basis of product type the market is segmented into whole almond, pieces, flour, milk, paste, oil, others. On the basis of application, the market is segmented into bakery and confectionary, snacks and bars, dairy products, nuts and seed butter, others. Regionally, the market can be segmented into North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa.
About the Food & Beverage Division at Future Market Insights
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About Food Market Division at FMI
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.