Global Almond Ingredients Market - 2019-2026
|全球杏仁成分市场：2019-2026 Global Almond Ingredients Market - 2019-2026|
|出版日期: 2020年06月09日||内容资讯: 英文||
The almond ingredients are the rich source of the vitamin, protein, carbohydrate, fiber, fat, minerals, and others. The almond ingredients are available in the different forms including piece, flour, milk, and others. These ingredients are also used for various applications including the bakery, confectionery, snacks and bars, ice creams, and others. The global almond ingredients market valued USD XX million in 2018 and it is expected to grow at a CAGR of XX% to reach USD XX million by 2026.
The market is driven by the rising demand for almond ingredients with the growing adoption of a healthy lifestyle, and healthy food. The almond ingredients are added in the different food and beverages products as these ingredients have the various health benefits including cholesterol reduction, controlling the blood sugar, lowering the risk of developing heart diseases, and others.
There is an increase in the launch of the product comprising the almond ingredients. For instance, in November 2019, Almond Pro Foods had launched a non-dairy powdered coffee creamer crafted from real almonds. The product is the first of its kind and offers coffee drinkers from all walks of life a Keto-friendly, Paleo, Vegan, and gluten-free option just in time for the holiday season.
In May 2019, Blue Diamond Growers had launched the almond breeze almond milk yogurt alternative. This new plant-based yogurt alternative is rich, creamy, and comes by itself or paired with unique Blue Diamond almond toppings. It includes the toppings options including the toasted almonds, honey roasted almonds & granola, chocolate almonds & chocolate chips, coconut almonds & chocolate chips, blueberry almonds & oat clusters, and sea salt caramel & pretzel.
Several companies are focussing on expanding the manufacturing facilities for meeting the growing demand for almond ingredients. For instance, in January 2019, Blue Diamond Growers have begun the expansion of its award-winning processing facility in Turlock California, United States to deliver the innovations of new almond products worldwide.
However, the high price of almonds is hindering the market growth. The growing almond allergy or intolerance among the consumers could have a negative impact on the market.
The global almond ingredients market is segmented based on product type as whole almonds, almond pieces, almond paste, almond flour, almond milk, and others. The whole almonds segment accounts for the highest market share due to the high usage of whole almonds for developing the snacks, confectionery, and bakery. There is high consumption of the whole almonds snacks and nutritional bars especially by the people going to the gym or focusing on bodybuilding.
The almond milk segment is expected to have a positive market share over the forecasted period. Several consumers prefer drinking almond milk as this milk substitute doesn't contain any animal products. It is the ideal choice for the lactose intolerant people as it doesn't contain lactose. The almond milk is available in the different flavors including the plain, vanilla, and chocolate. It is rich in vitamins, carbohydrates, fiber, calcium, and others. There is a rise in the launch of almond milk products with different flavors. For instance, in October 2019, Blue Diamond had launched the almond breeze almond milk Mexican hot chocolate. It is prepared by using the high-quality California-grown almonds for a delicious and creamy texture.
Further, the market is also classified based on the application as snacks & bars, milk substitutes & ice creams, bakery & confectionery, nut & seed butter, RTE cereals, and others. The snacks & bars segment accounts for the highest market share as the almonds are consumed as a snack across the globe. The almonds are considered as the healthy snack option with the growing concerns regarding health and wellness. Several almond ingredients including the almond flakes/pieces, almond flour, almond extracts are used for preparing the snack bars. The market is dominated by the availability of several cereals-based and granola snack bars prepared by using the almond ingredients. These products provide healthier snack bar alternatives to the consumers. The growing consumption of organic and natural snacks food shall boost the demand for almond-based snacks & bars over the forecasted period. It is further expected that the snacks & bars segment shall maintain its dominant position over the forecasted period.
By region, the global almond ingredients market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, Europe dominated the global almond ingredients market due to the high consumption of the almond ingredients due to their nutritional benefits. A large proportion of the population consumes the almond-based snacks and bakery food. There is the presence of a larger number of companies developing almond ingredients. Companies are focusing on bringing innovations in product development and packaging. Major players are expanding their capacity of the production for meeting up the demand of growing almond ingredients. Several associations and organizations promoting the use of the almond ingredients by raising awareness regarding the health benefits of the almond ingredients.
Asia Pacific is expected to grow at the fastest CAGR during the forecasted period due to the growing consumption of almond-based food. There is a growing demand for natural and low-sugar ingredients. There is growing awareness regarding almond and related food products and their impact on human health. The increasing disposable income and purchasing power of consumers in the developing countries shall boost the sales of the almond ingredients.
The global almond ingredients market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition. Archer Daniels Midland Company, Olam International Limited, Barry Callebaut Group, Blue Diamond Growers, Savencia SA, Kanegrade Limited, The Wonderful Company, and Harris Woolf California Almonds are the leading market players with significant market share. In April 2019, the Safe Food Alliance had recognized Blue Diamond's Salida manufacturing plant as Plant of the Year at its annual Food Safety Conference in Monterey, California.
The major players are using product development, novel product launch, collaborations, acquisitions, mergers, market expansion, capacity utilization, and product diversification strategies for holding their position in the market. For instance, in July 2018, Blue Diamond Growers had launched the almond protein powder, the newest innovation in almond ingredients. The Blue Diamond Almond Protein Powder is rich in fiber, magnesium, phosphorous, manganese, copper, potassium, and calcium. It is non-GMO, gluten-free, dairy-free, and soy-free.
Several companies are entering into the collaboration, mergers, acquisitions, and licensing for increasing their market penetration. For instance, In October 2019, Olam International had acquired the almond processor Hughson Nut Inc from APB Partners LLC at a total enterprise value of USD 54 million. This acquisition has helped the company to expand its capacity in almond ingredients.
In February 2019, Blue Diamond Growers had entered into the multi-year licensing agreement with Grupo Lala S.A.B. de C.V., a Mexican company focused on healthy and nutritious foods. This agreement would allow the sales and distribution of Almond Breeze almond-based beverages in Mexico
In July 2015, The Barry Callebaut Group had entered into the agreement to acquire the customer portfolio, brands, recipes, and manufacturing equipment from nut products manufacturer American Almond Products Co., Inc.
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