Selbyville, Delaware, Sept. 02, 2024 (GLOBE NEWSWIRE) --
The almond ingredients market valuation is predicted to surpass USD 23.63 billion by 2032, as reported in a research study by Global Market Insights Inc.
The market's growth is fueled by increasing consumer demand for plant-based products and the rising awareness of the nutritional benefits of almonds. As consumers prioritize health-conscious diets and sustainable food sources, almond ingredients are becoming integral to various food and beverage formulations, driving significant market expansion. The shift toward plant-based and health-oriented food products is a primary driver of the almond ingredients market.
For instance, in January 2023, Califia Farms, a premier brand in the plant-based beverage industry, expanded its award-winning dairy-free product line by introducing USDA-certified Organic Oatmilk and Almondmilk. Furthermore, Innovations in almond processing and ingredient formulations have expanded their use across multiple food categories, offering manufacturers diverse options to meet the growing demand for clean-label and nutritious products.
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The almond ingredients market from almond milk segment will witness robust growth from 2024 to 2032, led by the increasing popularity of dairy alternatives among health-conscious consumers. Almond milk is favored for its low-calorie content, lactose-free nature, and rich nutrient profile, making it a preferred choice for consumers seeking healthier milk alternatives. The growing trend of veganism and the rising prevalence of lactose intolerance has further propelled the demand for almond milk, making it a key driver of market growth.
The Ready-to-Eat (RTE) cereals segment will undergo considerable expansion from 2024 to 2032, fueled by the rising demand for convenient and healthy breakfast options. Almond ingredients, particularly almond flour and almond pieces are increasingly being incorporated into RTE cereals to enhance their nutritional value and appeal to health-conscious consumers. The high protein content, healthy fats, and rich flavor of almonds make them an ideal ingredient for RTE cereals, driving their adoption in this growing segment.
Europe will register a notable market CAGR from 2023 to 2032, propelled by the region's strong demand for plant-based and organic food products. Countries such as Germany, France, and the United Kingdom are leading the demand for almond ingredients, supported by increasing consumer awareness of healthy eating and sustainable food sources. Moreover, the region's well-established food and beverage industry, in line with growing investments in plant-based food production, is further fueling market growth. Europe's significant contribution to the almond ingredients market underscores its pivotal role in the global food industry as the region continues to lead in health trends and sustainable food practices.
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Prominent companies operating in the almond ingredients market include The Wonderful Company LLC, John B. Sanfilippo & Son, Inc., Kanegrade Ltd., Treehouse California Almonds, Harris Woolf California Almonds, Royal Nut Company, Olam International, Blue Diamond Growers, Dohler GmbH, Barry Callebaut Group, Borges Agricultural & Industrial Nuts, GoodMills Innovation GmbH, Bergin Fruit and Nut Company, Inc., and Archer Daniels Midland Company.
The Almond Ingredients Market is witnessing heightened demand, driven by company efforts to innovate and expand product offerings. Major players like Blue Diamond Growers and The Wonderful Company are focusing on developing versatile almond-based ingredients for various applications, including snacks, beverages, and dairy alternatives. Their investments in research and sustainable practices are crucial in meeting the growing consumer demand for plant-based and healthy ingredients.
In September 2023, Blue Diamond, the world's leading almond processor and marketer, enhanced its supply chain by implementing SAP's Transportation Management (TM) and SAP Business Network for Logistics (SBNL) solutions. These additions complement the company's existing SAP Integrated Business Planning (IBP) solution, streamlining operations and optimizing efficiency.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & workings
1.3 Forecast parameters
1.4 Data Sources
1.4.1 Primary
1.4.2 Data mining sources
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Almond Ingredients market 3600 synopsis, 2018 - 2032
2.2 Business trends
2.3 Regional trends
2.4 Type trends
2.5 Application trends
2.6 Distribution channel Trends
Chapter 3 Almond Ingredients Market Insights
3.1 Industry ecosystem analysis
3.2 Technology & innovation landscape
3.3 Patent analysis
3.4 Key news and initiatives
3.4.1 Partnership/Collaboration
3.4.2 Merger/Acquisition
3.4.3 Investment
3.4.4 Product launch & innovation
3.5 Regulatory landscape
3.6 Impact forces
3.6.1 Growth drivers
3.6.1.1 Growing consumer awareness of health and wellness
3.6.1.2 Increased adoption of plant-based diets
3.6.1.3 Growing preference for natural and clean label ingredients
3.6.1.4 Surge in snack and convenience food consumption
3.6.2 Industry pitfalls & challenges
3.6.2.1 Fluctuating global almond prices
3.6.2.2 Environmental concerns and water usage
3.7 Growth potential analysis
3.8 Porter’s analysis
3.9 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
