Almond Ingredients Market Analysis

Almond Ingredients Market Analysis

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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.