Almonds are rich in essential fat content, minerals, and vitamins. Almond ingredients are associated products of almonds utilized for the preparation of different foodstuffs in the food and beverage sector. Almond ingredients aid in treating several health issues like the presence of vitamin E content lowers the risk of heart diseases, levels of cholesterol, and several others. For instance, almond milk is the popular almond ingredient that is largely consumed by people who are lactose intolerant.
The significant surge in the obese and geriatric population in the US, Germany, and UK is posing exponential demand for almond ingredient products. Consumers are widely transforming their eating habits due to the growing prevalence of diseases. However, these regions are also facing a high risk of chronic diseases including cancer, which in turn is likely to fuel the growth of the global almond ingredients market significantly in the forthcoming years. However, the growing awareness among people and their transforming lifestyle globally is also complementing the growth.
The increasing number of people are shifting towards vegan or vegetarian diets, thus there is a spike in the consumption of plant-based milk globally. Iran is among the largest producers of almonds. Also, the ongoing product innovation in the region is likely to bring revolutionary products derived from almond ingredients, thereby it is expected to widen this customer base in the forthcoming years. However, there is a wide utilization of almond ingredients in pharmaceutical sectors, infant formulas, and several others. All these emerging landscapes are likely to exponentially scale up the growth of the global market in the forthcoming years.
The global almond ingredients market can be segmented into application, type, and region.
By application, the market can be segmented into nut & seed, butter, dairy products, snacks, bakery & confectionery, and others.
By type, the market can be segmented into oil, milk, flour, whole almond, and others.
Europe is the leading region in the global almond ingredients market due to its high demand in the region. People are increasingly looking forward to plant-based products, therefore it is expected that the region will position itself strongly in the global almond ingredients market.
Asia Pacific is expected to be the fastest-growing region in the global market due to the growing disposable income of the people in the region. Also, the presence of prominent market leaders in the region will help it dominate the global market in the forthcoming years.
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Some of the significant players in the global almond ingredients market are Kanegrade Limited, Royal Nut Company, Döhler GmbH, The Wonderful Company, Borges Agricultural & Industrial Nuts, Blue Diamond Growers, Barry Callebaut Group, John B. Sanfilippo & Son, Olam International Limited, and Archer Daniels Midland Company. To cite, Olam International Limited (Singapore) in December 2019 acquired Hughson Nut (California). This initiative will help the company in proliferating its almond ingredients capacity and cater to the growing demand from customers.
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