The report “Almond Ingredients Market by Type (Whole, Pieces, Paste, Flour, Milk, Oil, Extracts), Application (Snacks & Bars, Bakery & Confectionery, Milk Substitutes & Ice creams, Nut & Seed Butters, RTE Cereals, Cosmetics), and Region – Global Forecast to 2025″, The almond ingredients market is estimated to be valued at USD 9.0 billion in 2019 and is projected to reach USD 16.4 billion by 2025, recording a CAGR of 10.6% from 2019 to 2025. Growing application sectors, increasing demand for fortified food products, and rising demand for almond-based processed foods across the regions are factors driving the growth in the almond ingredients market.
By application, the snacks & bars segment is projected to account for the largest share in the almond ingredients market
In the almond ingredients market, the snacks & bars segment is projected to be the largest market by 2024. Almonds are majorly consumed as a snack all around the world due to their nutritional benefits; additionally, consumers perceive them as a natural and healthy snack option. The organic and natural snacks food category is a growing category in supermarkets around the world. Due to these factors, the snacks & bars segment is projected to account for a larger market share in the almond ingredients market.
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By type, the whole almonds segment is projected to account for the largest share in the almond ingredients market
In the almond ingredients market, the whole almonds segment is projected to be the largest market by 2024. Natural whole almonds are very versatile and suitable for various applications such as snacks, confectionery, and bakery. Due to their multifunctional attributes, the demand for whole almonds is high. In addition, due to the increasing usage of almond as snacks, the market is expected to witness increased demand. t. These factors are responsible for the higher market share of whole almonds.
Europe is projected to account for the largest market share during the forecast period
Europe accounted for a 52.0% share of the almond ingredients market during 2018, in terms of value. The region is witnessing a growing trend in the usage of almond-based snacks due to the health benefits they offer. The rise in demand for high nutritious food and the concerns of a significant population with a high obesity rate have been some of the leading reasons behind the growth of this market over the past several years. The rising demand for natural and low-sugar ingredients in the region is also driving the almond ingredients market in Europe.
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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