New study added on Almond Ingredients Market – Asia Pacific projected to be fastest-growing region in, due to consumption growth of almond-based products in region & rising awareness about health benefits of almonds.
The global 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. The market is driven by factors such as the growing demand for almond-based snack products and increasing awareness about the health benefits of almonds as a healthy and high-nutrient ingredient.
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Growth of almond ingredients market attributed to growing snack food industry, inclusions of health-based ingredients, companies rapidly launching almond-based products, associations and organizations promoting almond ingredients industry, and technological advancements enabling trade of raw material. Soaring prices of raw material and instances of allergies toward tree nuts act as constraints to growth of almond ingredients market.
The almond pieces segment is estimated to grow at the highest CAGR as it adds texture, crunch, and nutrition to products and are highly used in the preparation of health-based snack foods. Almond pieces or chopped almonds are considered nutritious and intensify the flavor of the food product to which they are added. Due to these factors, the almond pieces market is projected to grow at the highest CAGR.
- In February 2019, Blue Diamond Growers (US) signed a multi‐year licensing partnership agreement with Grupo LAlA (Mexico), a leading healthy and nutritious foods company. This agreement would help the company sell and distribute its almond milk/beverage, “Almond Breeze”, in Mexico.
- In January 2019, Blue Diamond Growers (US) started the expansion of its processing facility in Turlock, California, US, to deliver innovative products and expand value-added product lines, worldwide.
- In November 2017, John B. Sanfilippo & Son, Inc. (US) acquired Squirrel Brand, L.P (US), a snack mix and roasted nuts maker, for USD 31.5 million. The acquisition would help the company to expand its nuts and snacks business.
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The snacks & bars segment is estimated to grow at the highest CAGR during the forecast period. Almond ingredients ideal for snacks & bars, as consumers perceive them natural and healthy. Consumers, globally, are looking for healthier and nutritious snacking options that are free of pesticides, chemicals, and GMOs. Due to these factors, the snacks & bars segment is projected to drive the almond ingredients market.
Break-up of Primaries
- By Company Type: Tier 1 -45%, Tier 2 -33%,and Tier 3 -22%
- By Designation: C-level -33%, D-level – 45%, and Others*-22%
- By Region: North America – 33%, Europe – 29%, Asia Pacific – 16%, South America -12%, Middle East & Africa- 10%
The key players in the almond ingredients market include 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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Report segments almond ingredients market on basis of type, application, and region. In terms of insights, this research report focuses on various levels of analysis—competitive landscape, end-use analysis, & company profiles—which together comprise & discuss basic views on emerging & high-growth segments of almond ingredients market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, & challenges.
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- To get a comprehensive overview of the almond ingredients market
- To gain wide-ranging information about the top players in this industry, their product portfolio details, and the key strategies adopted by them
- To gain insights about the major countries/regions in which the almond ingredients market is flourishing
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