Almond Products Market

Almond Products Market Size, Share, Growth (2023-2028):

Almond Products Market size was worth US$ 8.2 billion in 2023 to US$ 11.03 billion by 2028 with a CAGR of 6.10% 

Almond Products Market Overview:

Almonds, which come from North Africa, the Middle East, and Subcontinent Indian, are popularly known. The fruit of an almond consists of a kernel, a medium shelve, an internal shell, and a seed coat in four parts. The essential nutritional part is the kernel, but the shell and exterior skin are also known and used for different purposes as nutritional and medicinal. The nutritional benefits of almonds such as cholesterol, sodium, riboflavin, iron, zinc manganese and magnesium are considered to be of high importance in the diet, and they also contain high levels of vitamin E. When consuming or using raw almonds in different dishes, almonds are used primarily for the manufacture of specific almond-based products such as shakes, beverages, chocolates, yogurt-based almonds, almond oil, almond cream, cookies, hair care, skincare and cosmetics, almond butter, flour and many more.

Almond Products Market value and expected growth:

An excellent source of vitamin E, omega fatty acids, and minerals is oils derived from almonds. It is also a rich source of phytosterols and unsaturated fatty acids, with outstanding moisturizing effects that are extremely useful for applications of aromatherapy. Core producers launch new goods to meet growing customer demand. Consumers are requesting natural products and products containing nuts like almonds, because of a greater awareness of health among developed as well as developing economies. Modern consumers want delicious snacks, but also healthy nutritious meal that features a touch of indulgence. Almonds fit these criteria and are the hot ingredient of choice for snack producers.

Almond Products Market Drivers and Restraints

The driver is growing concerned about conventional dairy and milk product consumption, causing farmers to manufacture natural milk substitutes such as almond milk, rice milk, soy milk, etc. Nonetheless, large shares were exchanged between the organic milk alternatives available in the market for almond milk products. With increasing rising consumer demand for innovative food products, regions such as Europe and North America are driving brand development in the market for almond products. In developing markets such as Asia-Pacific and the Middle East, almonds are the best-loved dry fruit and are considered the healthiest by consumers and are also generally eaten in the region. Consumers are demanding natural products with increasing concerns about cosmetics and personal care ingredients. Such nuts are appealing to cosmetics, personal care, dietary supplements, baby formulas, and the market players in pharmaceuticals, taking into consideration the safety advantages, and nutritional and medicinal properties of almonds.

Recent Developments

• In June 2015, Wikka, the skincare company responsible for flavor treatments, released new products mainly for the monsoon season.

• A vegan alpha butter under the brand Cherry Bakewell in the UK was introduced at Pip & Nut Ltd in April 2019.

Almond Products Market Segmentation:

By Product:

• Raw nuts

• Liquid

• Powders

The demand for almond products is segmented by types, including raw nuts, liquids and powders, available on the market. Almost 50 percent of the world's population consumes natural almonds once a month. Liquid almond products can be subdivided into oil, milk and other products. Oil is used mainly for cosmetics, medicine, and cooking in small quantities. Mandy milk gains popularity in the international vegan diet as a conventional milk substitute. Items including almond-based milk, butter etc. fall within the sub-segment of other almond items. In bakery preparations and dietary supplements, polished almond and almond meal are used.

By Application:

• Personal Care & Cosmetics

• Pharmaceuticals

• Beverages and snacks

The demand for Almond products is divided into beverages and snacks, personal care and cosmetics, medications, and so on. The second most popular noodle on the snacking market is almonds. And used internationally as a raw or roasted snack. Almonds are the second most common noodles used exclusively in items such as cakes, cookies, etc.

Traditionally, almonds are used in the manufacture of chocolate bars, candies, etc., and chocolate-coated almonds have a high demand from chocolate lovers. In the beverage market segment, with an increase in health issues related to the consumption of traditional milk and milk-based products, Almond milk has gained a significant share as an alternative to conventional milk. Considering the high skin care and anti-inflammatory properties of almonds, almond oil and extract is primarily in cosmetics and personal care products and has high market demand from the industry. Almond oils and extracts are used in products such as body oils, hair oils, creams and lotions, skin allergy remedies, etc.

Almond Products Market Regional Analysis:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

In 2018, Asia Pacific ruled the market by 41.7% share. The area has seen a significant increase in consumer recognition thanks to innovative strategies implemented by international competitors. Overall, the demand from countries like India, China and Australia is high. The increasing population and availability of livelihoods will also affect global growth.

Almond Products Market Key Players

1. Blue Diamonds

2. Good Snack Co.

3. Kerry Group

4. The Hershey Company

5. Mars

6. Russell Stover Candies

7. Silk

8. Sanitarium

9. Horeyville

10. Red Mill

11. Himalaya

12. Bajaj