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Almond Ingredients Market Trends

Report ID: GMI7811
Published Date: Jan 2024
Report Format: PDF

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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.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of almond ingredient reached USD 10.2 billion in 2023 and is set to cross USD 23.63 billion by 2032, led by the rising demand for healthier food alternatives and growing popularity of plant-based and natural ingredients.

Whole almond ingredient segment was worth USD 3.08 billion in 2023, owing to its nutritional composition and adaptability in a variety of culinary applications.

North America market held a revenue of USD 4.7 billion in 2023, driven by a health-conscious populace and rising popularity of plant-based diets and lactose-free alternatives.

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 are some of the major industry contenders.