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The almond ingredients market share is expected to increase by USD 7.72 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 10.59%.
This almond ingredients market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers almond ingredients market segmentation by type (whole almond, almond pieces, almond flour, almond milk, and others) and geography (North America, APAC, Europe, South America, and Middle East and Africa). The almond ingredients market report also offers information on several market vendors, including Barry Callebaut AG, Blue Diamond Growers, Borges International Group SLU, Chocoladefabriken Lindt and Sprungli AG, ConnOils LLC, Dohler GmbH, ETChem, Harris Woolf California Almonds, Kanegrade Ltd., Max River Pty Ltd., Modern Ingredients, Olam Group Ltd., Royal Nut Co., Sanitarium Health Food Co., Savencia SA, The Hershey Co., The J.M Smucker Co., The Wonderful Co. LLC, Treehouse California Almonds LLC, and Valley Harvest Nut Co. among others.
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The increasing awareness about the health benefits of almonds is notably driving the almond ingredients market growth, although factors such as stringent government regulations may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the almond ingredients industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Almond Ingredients Market Driver
One of the key factors driving growth in the almond ingredients market is the increasing awareness about the health benefits of almonds. Almonds are rich in nutrients such as fiber, protein, vitamin E, vitamin B2, phosphorus, manganese, and magnesium. A one-ounce serving of almonds contains about 3.5 grams of fiber, 6 grams of protein, and 14 grams of fat. Almonds are a rich source of antioxidants. Antioxidants help protect against oxidative stress, which can damage cells and lead to inflammation, aging, and diseases such as cancer. The consumption of almonds helps in increasing the vitamin E level in plasma and red blood cells and lowers the cholesterol levels in the body. Almonds are also known to reduce the risk of breast cancer. Thus, various health benefits associated with the consumption of almonds are increasing the demand for almond ingredients, which will drive the growth of the global almond ingredients market.
Key Almond Ingredients Market Trend
The online distribution platform is an almond ingredients market trend that is expected to have a positive impact in the coming years. E-commerce is expected to become one of the key distribution channels for the sales of almond ingredients during the forecast period. Online platforms provide consumers with ease of shopping, save time, and offer fast delivery services. They also help small retailers and vendors enhance the visibility of their products and increase their profitability. Companies such as Amazon.com In. (Amazon), Walmart, Alibaba Group Holding Ltd. (Alibaba), and Innovative Retail Concepts Pvt. Ltd. (Bigbasket) are emerging as fast-growing online grocery stores. This is encouraging the vendors of almond ingredients to focus on the Internet-savvy customer segment and enter online retail formats. Thus, the growing prominence of online distribution platforms is expected to drive the growth of the global almond ingredients market.
Key Almond Ingredients Market Challenge
The stringent government regulations will be a major challenge for the almond ingredients market during the forecast period. The players in the market are required to comply with the stringent regulations and guidelines issued by various government bodies. There are various government bodies in different countries that lay out the standards to be followed by food and beverage manufacturers, including almond ingredient manufacturers. In the US, the manufacturers of food products need to follow the guidelines set by the FDA. For instance, tree nut products, such as almond ingredients, are governed according to the Code of Federal Regulations (CFR) Title 21 in the US. The regulations laid out by the various government and non-government organizations might increase the compliance cost of vendors, thereby hampering the growth of the global almond ingredients market.
This almond ingredients market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global almond ingredients market as a part of the global packaged foods and meats under the global food products segment of the global food, beverage, and tobacco market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the almond ingredients market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the almond ingredients market encompasses successful business strategies deployed by the key vendors. The almond ingredients market is fragmented and the vendors are deploying growth strategies such as distinguishing their product and service offerings through a clear and unique value proposition to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The almond ingredients market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the almond ingredients market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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35% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for almond ingredients in North America. Market growth in this region will be faster than the growth of the market in the European regions.
The demand for almond ingredients is increasing in North America due to their health benefits and their varied cooking applications. This will facilitate the almond ingredients market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic adversely affected the economies of various countries in North America. Governments of countries such as the US, Canada, and Mexico imposed stringent restrictions, such as nationwide lockdowns and stay-at-home regulations, which resulted in the temporary closure of various industries, including those manufacturing almond ingredients. In 2021, the initiation of large-scale COVID-19 vaccination drives led to the lifting of lockdowns and the resumption of industrial operations. This, in turn, increased the demand for almond ingredients in retail stores.
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The almond ingredients market share growth by the whole almond segment will be significant during the forecast period. The whole almonds are hard to crunch and have the classic oval shape with a rich, strong nutty flavor. These almonds are rich in fiber, calcium, folic acid, potassium, magnesium, riboflavin, vitamin E, and heart-healthy monounsaturated and polyunsaturated fats. These factors are expected to enhance the growth of the whole almond segment of the global almond ingredients market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the almond ingredients market size and actionable market insights on the post-COVID-19 impact on each segment.
Almond Ingredients Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.59% |
Market growth 2022-2026 |
$ 7.72 billion |
Market structure |
Fragmented |
YoY growth (%) |
10.07 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key consumer countries |
US, Canada, China, India, Japan, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Barry Callebaut AG, Blue Diamond Growers, Borges International Group SLU, Chocoladefabriken Lindt and Sprungli AG, ConnOils LLC, Dohler GmbH, ETChem, Harris Woolf California Almonds, Kanegrade Ltd., Max River Pty Ltd., Modern Ingredients, Olam Group Ltd., Royal Nut Co., Sanitarium Health Food Co., Savencia SA, The Hershey Co., The J.M Smucker Co., The Wonderful Co. LLC, Treehouse California Almonds LLC, and Valley Harvest Nut Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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