Newark, NJ, May 30, 2022 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, The global almond ingredients market is expected to grow from USD 9.2 billion in 2019 to USD 20.3 billion by 2027, at a CAGR of 10.4% during the forecast period 2020-2027. Europe holds the largest market share in the region, due to large-scale use of almond-based snacks, humungous demand for nutritious diets, concerns over the increasing rate of obesity in the population, and health benefits derived from the almond. The market in North America is also witnessing significant growth in the region, owing to the growing consumption of almond-based snacks and food. South and East Asia is also projecting a significant growth, due to increasing consumption of bakery and snacks food and growing per capita income.
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Some of the notable players in the market are TREEHOUSE ALMONDS, SAVENCIA SA, Blue Diamond Growers, Russell Stover Chocolates, LLC, The Wonderful Company LLC, BORGES AGRICULTURAL & INDUSTRIAL NUTS, Kanegrade Ltd., Sahale Snacks, Inc., Barry Callebaut, Olam International, Archer Daniels Midland Company, JOHN B. SANFILIPPO & SON, INC., Jonny Almond Nut Company, Helios Ingredients, The Hershey Company, Royal Nut Company, Bob’s Red Mill Natural Foods, Sanitarium, Döhler, and OLOMOMO Nut Company.
The application segment includes bakery & confectionery, milk substitutes & ice cream, snacks & bars, nut & seed butters, cosmetics, RTE cereals. The snacks and bars segment are expected to hold the largest market share, owing to their nutritional value, considered as a natural and healthy snack option. Based on type, the market is segmented into pieces, flour, whole, milk, paste, extracts, oil. The whole almond segment is expected to witness the largest share in the almond ingredient market, owing to their multifunctional attributes, increasing usage of almond as snacks, confectionery, and bakery.
The factors driving the almond ingredient market are rising demand for healthy snacks, advancement in technology, expansion and promotion of nut ingredient, and increasing preference for vegan and gluten-free diets. Nutritional benefits is also a factor driving the market. Factors restraining the market growth are increasing allergies due to almond, rapid change in trade policy, growing demand for almond is creating the demand-supply gasp, and high cost of almonds. Complexity in the supply chain of almond ingredients market poses a challenge in the market growth. Thus the market is expected to grow due to significant demand of almond ingredients in the market.
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About the report:
The global almond ingredients market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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