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Almond Ingredients Market Worth $16.4 Billion by 2025 - Exclusive Report by MarketsandMarkets™
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Based on type, the market is segmented into whole almonds, almond pieces, almond paste, almond flour, almond milk, and others. The whole almonds segment is estimated to account for the largest market share in 2019. This is attributed to the growing demand for whole almonds in various food applications such as snacks, confectionery, and bakery. The whole almonds are very versatile and suitable for various applications. The constantly evolving economic standards across the world, coupled with healthier food habits, have considerably impacted the growth of whole almond sales in recent years. Due to these factors, the whole almond segment is estimated to account for a larger market share in 2019.
By application, the almond ingredients market is segmented into snacks & bars, milk substitutes & ice creams, bakery & confectionery, nut & seed butters, RTE cereals, and others. The snacks & bars segment is estimated to grow at the highest CAGR, due to the rise in demand for almond-based snack products. Consumers are also shifting from conventional snacks to nutritional snack products, which, in turn, is driving the overall demand for almond ingredients.
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Europe is witnessing a growing trend of high nutritious food due to health benefits. The region also witnesses the presence of leading almond ingredient manufacturers including Barry Callebaut Group ( Switzerland ), Borges Agricultural & Industrial Nuts ( Spain ), and Savencia SA ( France ). Currently, the market is majorly being driven by rising health awareness among European consumers, along with the increasing demand for low-calorie and low-fat food & beverage products.
This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies. It includes the profiles of leading companies such as Archer Daniels Midland Company (US), Olam International Limited ( Singapore ), Barry Callebaut Group ( Switzerland ), Blue Diamond Growers (US), John B. Sanfilippo & Son (US), Borges Agricultural & Industrial Nuts ( Spain ), Savencia SA ( France ), Kanegrade Limited(UK), The Wonderful Company (US), Harris Woolf California Almonds (US), Treehouse California Almond (US), Royal Nut Company ( Australia ), and Döhler GmbH ( Germany ).
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