The size of the North America Almond Ingredients Market is expected to be worth USD 3.82 billion in 2024 and grow at a CAGR of 9.80% from 2024 to 2029 to achieve USD 6.09 billion by 2029.
Almond ingredients are versatile due to the presence of minerals and nutrients. These products provide nutritional value to the users. The almond ingredients are used in various food applications where those products are considered to be healthy. These almond ingredients contain rich nutrients that include carbohydrates, minerals, vitamins, and other minerals. These can be available in various forms like pieces, flour, and milk, which can have wide benefits for lactose-intolerant consumers. Also, almond ingredients add good taste and flavor when added to the food savory and sweets. Including these benefits, these products have the ability to reduce cholesterol and provide better health for consumers. Increasing demand from the food and beverages industry to provide healthy food products is providing growth opportunities for the North America Almond Ingredients Market.
The rising focus on producing innovative products with different flavors is propelling the demand in the North American almond ingredients market. Increasing awareness of the availability of different food products in the food and beverages industry is evaluating the growth rate of the market. Also, consumers' interest in dietary food products is leveling up the demand of the market in North America. Additionally, the attribute driving the growth rate of the North American almond ingredients market is a rising focus on developing quality food products with plant-based and gluten-free products. The launch of various industries in different regions is also boosting the demand of the market to an extent. Along with this, the rising incidences of chronic diseases and changing lifestyles are accelerating the growth rate of the North American almond ingredients market. Food and beverage companies are launching different strategies to sustain themselves at top positions, gaining traction over the demand of the market. The high presence of nutrients and minerals in the almond ingredients is attracting consumers, which is enhancing the growth rate of the market extensively. In addition, seeking health advice in following a nutritional diet and the growing prevalence of healthy food products among people across the region is likely to fuel the demand of the North American almond ingredients market. Growing demand for premium products using almonds in developed and developing countries is surging the growth rate of the market. The trend towards clean label products and the demand for almond ingredients is promoting the demand of the North American almond ingredients market. Adopting a healthy diet among many consumers is elevating the growth rate of the market. Also, the rise in the promotions by organizations over the health benefits of almond ingredients is outraging the demand of the market.
However, fluctuations in the prices of the raw materials are slowly degrading the demand in the North American almond ingredients market. Increasing demand from various countries for almonds is also a big challenging factor for the market's key players. Seasonal variations are also causing slight disturbances in the shares of the North American almond ingredients market. In the US, the main production center for almonds is imposing restrictions on cultivating due to a shortage of water. Due to this reason there is a shortage in the supply of almonds that is slightly degrading the growth rate of the market.
COVID-19 is a deadly disease that devastated many people's lives. The novel coronavirus has spread across the world and caused the loss of millions of lives. The spread of coronavirus has decreased the shares of the market in unprecedented ways. Key players are focusing on implementing different strategies to improve the shares. COVID-19 mainly impacted negatively on the supply chain and production due to the strict lockdown restrictions everywhere. However, the rising prevalence of a healthy diet and a growing number of people towards a vegan diet are promoting the shares of the almond ingredients market in North America. With the disruptions in the supply chain and production, the North America almond ingredients market is affected. The imports and exports are delayed due to lockdown restrictions in the respective countries. This slowed down the demand for almond ingredients in North America. Slowly, the world is coming into a normal state, and this is expected to increase the shares of the market in the coming years. The North America almond ingredients market is to have substantial growth opportunities in the forecast period amid the spread of coronavirus.
This research report on the North America Almond Ingredients market is segmented and sub-segmented into the following categories.
North America Almond Ingredients Market - By Type:
Almond pieces segment is leading with the dominant shares of the market. Increasing expenditure with rising disposable income in urban areas is enhancing the demand of the segment. Also, Almond paste segment is expected to grow at higher rate in the coming years.
North America Almond Ingredients Market - By Application:
The bars segment is anticipated to have the highest market shares. The rising demand to promote premium products online is prompting this segment's demand. The snacks segment is anticipated to have the quickest growth opportunities in the coming years.
North America Almond Ingredients Market - By Region:
North America is dominating the shares of the almond ingredients market. Growing disposable income in developing countries is leveling up the growth rate of the market. The US is leading with significant shares of the market among all the countries. Increasing investments in the food and beverages industry by government and non-government organizations are likely to fuel the demand in the US almond ingredients market. Canada's almond ingredients market is following the US almond ingredients market in leading the largest shares of the market. Growing demand to launch innovative products is expected to drive the demand in the Canadian almond ingredients market.
KEY MARKET PLAYERS:
The key players in North America almond ingredients market are ADM, Olam International Limited, Barry Callebaut, Blue Diamond Growers, John B. Sanfilippo & Son, Kanegrade, Borges Agricultural & Industrial Nuts, Savencia SA, The Wonderful Company, Harris Woolf California Almonds, Treehouse California Almonds, Döhler GmbH, Royal Nut Company, Repute Foods Pvt. Ltd, Deep Nuts N Flavors LLP, Shivam Cashew Industry, Modern Ingredients, ConnOils LLC, Valley Harvest Nut Company, and ETChem.
Frequently Asked Questions
The growth of the almond ingredients market in North America is primarily driven by factors such as increasing consumer demand for plant-based and natural ingredients, rising awareness about the health benefits of almonds, and the versatility of almond-based products in various culinary applications.
Some key market trends in the North American almond ingredients industry include the growing popularity of almond-based dairy alternatives, the use of almond flour in gluten-free and low-carb products, innovation in almond ingredient formulations, and the expansion of almond orchards in regions like California.
Almond ingredients are widely used in applications such as bakery and confectionery products, dairy alternatives, snacks and bars, cereals and granola, beverages, and personal care products. The increasing demand for plant-based and clean-label ingredients across these segments is fueling the growth of the almond ingredients market.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1400
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region