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(HomeGarden247.com, July 09, 2021 ) According to MarketsandMarkets, the global almond ingredients market size is estimated to be valued at USD 10.2 billion in 2020. It is projected to reach USD 16.9 billion by 2025, recording a CAGR of 10.5% in terms of value. Numerous nutritional benefits offered by almond and almond ingredients, a rapid increase in almond-based product launches by key players in the food & beverage market, growing inclination of consumers toward plant-based and gluten-free products, and associations and organizations promoting the nut ingredient industry are the key factors projected to drive the growth of the almond ingredients market during the forecast period. However, the growth of the almond ingredients market is inhibited by factors, such as unstable prices of raw materials and growing incidences of almond allergy among consumers.
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Leading players profiled in this report include the following:
• ADM (US)
• Olam International Limited (Singapore)
• Barry Callebaut (Switzerland)
• Blue Diamond Growers (US)
• John B. Sanfilippo & Son (US)
• Kanegrade (UK)
• Borges Agricultural & Industrial Nuts (Netherlands)
• Savencia SA (France)
By type, the almond pieces segment is projected to grow at the highest CAGR during the forecast period
Almond pieces or chopped almonds intensify the flavor of food products, to which it is added. Almond pieces are available in various forms, such as halves, slices/flakes, and diced/chopped. Almond pieces help in adding crunch, texture, and nutrition to the products and are increasingly used in the preparation of health-based snack foods.The market for almond pieces is projected to witness a rapid growth across regions due to the development of the food processing industry and high consumption among the population. However, the market continues to witness significant growth in developed countries, such as the US and Germany, due to the high awareness pertaining to health-based foods products and an increase in the food processing sectors.
By application, the bars segment is estimated to account for the fastest growth rate
The majority of consumers are inclining toward the bar category as a convenience health befitting food product. The bars segment has experienced a significant amount of growth in the past few years. Moreover, consumers consider almonds as the most desired ingredient, as almonds make a bar crunchier in texture and provide numerous nutrients, and improves taste.
Almonds contain the highest amount of protein than other tree nuts. Almond contains various nutrients, including vitamin E, fiber, calcium, riboflavin, and niacin. They are also a leading source of magnesium. Almonds provide a fuller for a longer feeling to consumers. Owing to these factors, almonds are considered the best ingredient for bars and constantly experiencing growth.
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The Asia Pacific region is projected to grow at the highest CAGR during the forecast period
The almond ingredients industry in the Asia Pacific region is growing due to the change in the lifestyle of customers and the increase in disposable income. According to the World Bank, it is the fastest-growing economy in the world. The market in this region is witnessing a dramatic transformation regarding diet diversification, rapid urbanization, and liberal trade policies in the food sector. Furthermore, a rise in consumer awareness about health issues, an increase in inclination of consumers toward health-benefiting food products, a surge in income and purchasing power, and rapid growth of the middle-class population are the major factors offering growth opportunities for almond ingredient manufacturers in the market in the region.
The almond ingredients market is segmented region-wise, with a detailed analysis of each region. These regions include Asia Pacific, North America, Europe, Latin America, and RoW (the Middle East and Africa).
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Mr. Aashish Mehra
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Mr. Aashish Mehra
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