Market Size – USD 136.13 Million in 2019, Market Growth – CAGR of 7.1%, Market Trends – Almond Beverages
According to the current analysis of Reports and Data, the Global Organic Almond Ingredients Market was valued at USD 136.13 Million in 2019 and is expected to reach USD 222.98 Million by year 2027, at a CAGR of 7.1%. Almonds are a rich source of copper, calcium, riboflavin, potassium, manganese, phosphorous, and have been associated with reduced risk of heart disease. Trending almond based products, inclusions of health-based ingredients, technological innovations enabling the trade of raw material, increasing demand from the snack food industry, technological innovations enabling the trade of raw material are the major drivers for the growth of this market. In 2019, US-based cooperative Blue Diamond expanded its beverage product portfolio with the launch of Almond Breeze and Almond milk Mexican Hot Chocolate flavor. The company also plans to release Almond milk ‘Nog’ soon. In addition to this, Coca-Cola brand Simply Beverages launched almond milk in May, 2020. The new Simply Almond line offers three flavors (vanilla, unsweetened, and original) made with minimal ingredients. Global trade pressures, increasing quality control standards, impact of drought on almond crops and irrigation solutions, less reliance on traditional almond farming methods, rising incidences of allergies among consumers, volatile prices of raw materials are few of the major challenges this market faces.
Almond flour is becoming the key ingredient in the food processing industry. Almond flour is made from ground sweet almonds and processed further; it is available in different forms as per its application in the F&B industry. Almond flour is extracted in the form of extra-fine blanched or in fine natural form. Almond flour is one of the rich sources of vitamins, including vitamin B, vitamin A vitamin E, minerals, proteins, omega fatty acids, protein, and others. Almond flour is used as an all-purpose carrier and essential flour usually used for baking, cooking. As the demand is increasing in bakery and confectionery products as the inclusion of almond flour that improves the nutritional value and helps to give better texture and flavor.
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Key Participants Include:
John B. Sanfilippo & Son, Borges Agricultural & Industrial Nuts (Bain), Savencia SA, Kanegrade Limited, Harris Woolf California Almonds, The Wonderful Company, Olam International Limited, Barry Callebaut Group, Blue Diamond Growers, Archer Daniels Midland Company (ADM)
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2017 to 2027. For the purpose of this study, Reports and Data have segmented the organic almond ingredients market on the basis of product, application, distribution channels:
Product (Revenue, USD Million; 2017–2027)
- Whole almonds
- Others(flavor extracts, crocants, almond oil, and sablages)
End Use (Revenue, USD Million; 2017–2027)
- Bakery & Confectionery
- Dairy Substitutes & Ice creams
- Nut & Seed Butters
- Other end use
Distribution Channels (Revenue, USD Million; 2017–2027)
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Regional Outlook (Revenue in USD Million; 2017–2027)
- North America
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Rest of the World
- Middle East & Africa
- Latin America
Further key findings from the report suggest
- Various trends in the health and nutrition sector have led to more and more consumers preferring almond-containing dairy alternatives. The chief reasons for this are a growing interest in botanicals as well as a desire to try new things and growing tendency to consume fewer animal products. These products are very low on calories and carbohydrates compared to milk. The dairy alternatives segment is expected to grow at a CAGR of 8.9%
- Almonds can extensively be used in many applications and creative vegan and dairy alternatives community has found ever new ways to transform this simple nut such as almond milk, flour, extract. Almond flour is low carb flour made from the so-called press cake, the solid remains of edible oil production and is frequently used in low-carb recipes and as a substitute for wheat flour. Further, almond milk is made from ground, sweet almonds mixed with water and sugar, honey or agave syrup. It tastes nutty – the intensity differing according to brand and its flavor determined by the roast. The extract is used for oriental rice dishes as well as to enrich more earthy dishes like baked apples, oatmeal and breads
- On the basis of Product segment, the whole almonds segment is anticipated to have the biggest share in the global organic almond market. Due to its several health benefits such as lower cholesterol levels, reduced blood pressure, and rich source of healthy fats, fiber, protein, magnesium and vitamin E are increasing the demand for this segment. It was estimated to be USD 79.45 Million in the year 2020
- Through the distribution channel, offline segment holds the largest market share at 67.6%. Due to increase in the number of market players, convenience stores are also keeping a large variety of almond milk products for the consumer’s convenience during regular grocery shopping. The online segment is also expected to rise substantially. The major reason for preferring online distribution mode is the ease of payment with respect to ordering the product. A number of offers and discounts are available on various apps for the concerned consumers. Surge in online apps has drastically impacted the supply chain of the market. For instance, Bigbasket offers a variety of almond milk beverages and other products through an online delivery option apart from the offline stores in India, thereby driving the online channel segment
- In terms of region, Europe holds the highest share in the global organic almond ingredients market during the forecast period, and is expected to reach USD 80.27 in value by 2027. European almond imports are increasing rapidly due to fast growing consumer trend towards healthier living, popular natural foods and snacks. The main almond importers in Europe include Germany and Spain. Both these countries are large consumers of almonds, however Spain is also a chief producer and a large transit country for almonds imported from the United States.
- On the basis of end use, snack and bars is anticipated to have the maximum share in the global organic almond ingredients market. Increasing demand for natural and wholesome almond snacks have encouraged the manufacturers to increase its production
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Key Questions Addressed in the Report:
- What is the expected revenue growth rate the global Organic Almond Ingredients market is expected to register during the forecast period?
- What are the key growth driving factors of Organic Almond Ingredients market?
- Who are the leading players in the market?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
- Which region is expected to account for the largest market share in the global Organic Almond Ingredients market over the forecast period?
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