Home > Food & Beverages > Food Additives > Flavor Enhancers > Almond Extract Market

Almond Extract Market Trends

Report ID: GMI12113
Published Date: Nov 2024
Report Format: PDF

Download Free Sample

Almond Extract Market Trends

The almond extract industry is experiencing notable growth trends driven by consumer demand for natural and plant-based ingredients across various industries. In the food and beverage sector, almond extract is increasingly preferred for flavoring in baked goods, desserts, and specialty beverages, aligning with the trend for clean-label products. Additionally, the cosmetics and personal care sectors are utilizing almond extract for its aromatic and nourishing properties, appealing to eco-conscious consumers who prioritize sustainable, nature-derived formulations. Organic and non-GMO certifications have gained importance as health-conscious buyers seek transparency and purity in ingredients.

Furthermore, the rapid expansion of e-commerce platforms is making almond extract products more accessible globally, encouraging market growth across regions and consumer demographics.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of almond extract reached USD 1.3 billion in 2023 and is estimated to grow at a 4.2% CAGR from 2024 to 2032, driven by its versatile applications across various industries.

The pure almond extract segment was valued at USD 849.6 million in 2023 and is anticipated to expand at a 4.3% CAGR from 2024 to 2032, owing to its intense flavor and high-quality concentration.

The U.S. market was valued at over USD 280.2 million in 2023 and is expected to grow at a 4.2% CAGR till 2032, supported by California's robust agricultural infrastructure.

The key players in the industry include ADM, Blue Diamond Growers, Borges Agricultural & Industrial Nuts, Cook Flavoring, Frontier Co-op, John B. Sanfilippo & Son, Lochhead Manufacturing, McCormick & Company, Nielsen-Massey Vanillas, and Queen Fine Foods.