Almond Ingredients Market Size - By Type (Whole Almond, Almond Pieces, Almond Flour, Almond Paste, Almond Milk, Almond Oil), Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online Retail), Application & Global Forecast, 2024 – 2032

Almond Ingredients Market Size

Almond Ingredients Market size was valued at USD 10.2 billion in 2023 and is estimated to witness 9.7% CAGR from 2024 to 2032, owing to rising demand for healthier food alternatives and the growing popularity of plant-based and natural ingredients. Almonds, recognized for their nutritional advantages, have become a popular alternative to conventional ingredients among consumers. The increased knowledge of almond's health-promoting characteristics, such as its high concentration of vitamins, antioxidants, and minerals, is driving market demand.
 

Furthermore, the demand for almond ingredients has been positively affected by the rise in health-conscious customers who are motivated to maintain an active lifestyle and balanced diet. The benefits of almonds for heart health, weight control, and general well-being are well-established, and this is consistent with consumers' shifting dietary choices.
 

The market for almond ingredients encounters challenges with maintaining revenue growth because of the inherent volatility of almond prices worldwide. Almond price fluctuations can be caused by several variables, such as changes in the weather that effect almond agriculture, events in geopolitics that affect commerce, and the expanding demand for almonds across a range of sectors. The market's revenue growth is hindered by these price fluctuations since suppliers and manufacturers are unable to predict how much it will cost to buy goods, which has an impact on their pricing policies and profit margins.
 

Almond Ingredients Market Trends

Several important trends are emerging in the almond ingredients industry, reflecting changing consumer preferences and business dynamics. Demand for almond-based products is being driven by health-conscious consumer behavior, particularly as more people become aware of the nutritional advantages of almonds. Product development innovations, such as almond-based alternatives in the dairy and pastry categories, are gaining popularity, meeting the growing need for plant-based and gluten-free solutions. Furthermore, the increase in almond milk consumption, driven by the increased popularity of dairy substitutes, is considerably contributing to market growth.
 

Almond Ingredients Market Analysis

Based on type, the whole almond segment held over USD 3.08 billion revenue in 2023. Whole almonds are prized for their nutritional composition, which includes minerals, vitamins, and healthy fats. Consumers are increasingly drawn to the natural and nutritious image associated with whole almonds, which is boosting demand in the food business, notably in snack, bakery, and confectionery industries. Whole almonds' adaptability as a solo snack or as an ingredient in a variety of culinary applications corresponds with the rising demand for healthier and less processed food options.
 

Based on application, the bakery & confectionery segment accounted for 35.3% of the almond ingredients market share in 2023. Almond ingredients are increasingly being employed in the bakery and confectionery industries to improve the nutritional profile of goods, providing a healthful alternative to standard ingredients.
 

Furthermore, the versatility of almonds, as well as their ability to offer a rich taste and texture, making them a popular option among customers seeking decadent yet health-conscious sweets. The increased awareness of the health advantages of almond intake, such as heart health and weight control, drives demand for almond ingredients in the baking and confectionery sectors.
 

Based on distribution channel, the almond ingredients market size from hypermarkets/supermarkets segment dominated around USD 4.7 billion in 2023. These shops serve as crucial points of sale, giving customers easy access to a wide range of almond-based items such as almond flour, sliced almonds, almond milk, and more. The enormous shelf space in hypermarkets and supermarkets enables for a varied choice of almond ingredients to be clearly displayed, garnering customer attention and driving purchase decisions. Furthermore, the competitive pricing, promotional activities, and bundling choices frequently given by these giant retailers increase customer attention and demand for almond ingredients.
 

North America almond ingredients market size reached USD 4.7 billion in 2023. The region's health-conscious populace is driving up demand for almond ingredients, which are seen as nutritional alternatives in a variety of food and beverage items. The growing awareness of almonds' health advantages, such as their high number of vitamins, minerals, and antioxidants, has led to their inclusion in a variety of items, including snacks, cereals, dairy replacements, and baked goods. Furthermore, the rising popularity of plant-based diets and lactose-free alternatives has increased the usage of almond components in culinary applications.
 

Almond Ingredients Market Share

Blue Diamond Growers is a California-based cooperative owned by over 3,000 almond growers. Blue Diamond holds a significant market share in the global almond ingredients industry, estimated to be around 20% to 25%. The company Exports almonds and almond ingredients to over 100 countries worldwide.
 

Olam is a significant player in the global almond ingredients industry, estimated to hold a 5-7% share. The company has strategically invested in increasing its presence in this growing market through acquisitions and expansions. Olam continues to invest in expanding its almond ingredients capabilities, focusing on value-added products like almond flour, sliced almonds, and almond butter.
 

Almond Ingredients Market Companies

Major companies operating in the almond ingredients industry include:

• Blue Diamond Growers
• Olam International
• Archer Daniels Midland Company
• John B. Sanfilippo & Son, Inc.
• Barry Callebaut Group
• Kanegrade Ltd.
• Borges Agricultural & Industrial Nuts
• Treehouse California Almonds
• The Wonderful Company LLC
• Harris Woolf California Almonds
• Dohler GmbH
• Royal Nut Company
• GoodMills Innovation GmbH
• Bergin Fruit and Nut Company, Inc.
• Kanegrade Ltd.
   

Almond Ingredients Industry News

• In January 2023, Califia Farms, a renowned and high-quality brand in the plant-based beverage sector, broadened its acclaimed range of dairy-free offerings by introducing USDA-certified Organic Oatmilk and Almondmilk.
   
• In September 2020, Harris Woolf Almonds offers excellent value to manufacturers and formulators by bringing to market two products: a GMO-free roasted almond protein powder with an unmatched level of taste, and an unprocessed almond oil created from 100% food-grade almonds that can be traced back to the farmer.
   

The almond ingredients market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion & Kilo Tons from 2018 to 2032, for the following segments:

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Market, By Type

• Whole Almond
• Almond Pieces
• Almond Flour
• Almond Paste
• Almond Milk
• Almond Oil
• Others

 Market, By Application

• Bakery & Confectionery
• Milk Substitutes & Ice Creams
• RTE Cereals
• Sweet & Savory Snacks
• Nut & Seed Butters
• Others

Market, By Distribution Channel

• Hypermarkets/Supermarkets
• Convenience Stores
• Online Retail
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Thailand
  • Australia
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
  • Argentina 
• Middle East & Africa
  • UAE
  • South Africa
  • Saudi Arabia