Almond Products Market

Almond Products Market Outlook (2023 to 2033)

In 2023, the global almond products market was calculated to be valued at USD 8.2628 billion. The market is expected to reach approximately USD 15.2484 billion by 2033, with a growing CAGR of 6.3% from 2023 to 2033.

The growing product almond-based product launches by competitive players, especially in the food and beverage market, are propelling the growth of the almond products market. Other factors, such as the growing need for almond products due to consumers’ preference for gluten-free and plant-based products, coupled with businesses promoting the nut ingredient industry, are favoring the lucrative growth of the almond products market.

Attribute	Details
Almond Products Market Value (2023)	USD 8,2628 billion
Almond Products Market Anticipated Value (2033)	USD 15,2484 billion
Almond Products Projected Growth Rate (2023 to 2033)	6.3%

Quick Surge in Almond-based Product Launches by Major Players in the Food & Beverage Market

The growing demand for health-based and nutritional products plays a significant role in the constant increase in the number of almond-based products. In developed countries such as Germany, the USA, and the United Kingdom, there is an increasingly obese and geriatric population who demand food products with nut ingredients such as walnuts, almonds, seeds, etc. There is growing adoption of healthy lifestyles and eating habits by consumers to prevent diseases. Some of the key factors driving the growth of the almond products market are the rising risk of chronic diseases, increasing health awareness, and altering lifestyle.

Various food and beverage manufacturers are adopting crucial strategies to fulfill consumer demands, such as launching novel products with new packaging, innovative formulations, etc. These manufacturers are particularly aiming to develop novel products for health-conscious consumers with nutrients such as sugars and fats. Furthermore, products launched which attract consumers are based on claims of additives and the presence of clean-label ingredients.

Almond Products Market Witnesses Surge in Demand

The demand for almond products is surging due to the increasing inclination of the global population who are health conscious and wish to consume natural-based food products. Moreover, it has been witnessed that the demand for products that offer superior nutritional value is growing each day. This is considered a huge opportunity for vendors involved in the global almond products market.

The shift in consumer preference is stirring the products’ demand in the global market as the majority of the population today prefers opting for healthy as well as tasty snack options. Unfortunately, a significant population has been allergic to conventional milk and milk products in the past few years. Therefore, for the lactose intolerant population, some of the great milk substitutes are almond milk, soy milk, and rice milk. This, too, is a lucrative opportunity for market entrants in the almond products market.

The growing adoption of almond products from the personal care and cosmetic industry supports the almond products market growth. Almond products which are majorly used in these sectors are almond oil-induced moisturizers, almond body oil, lotions, and scrubs. Due to almonds’ anti-inflammatory properties, the pharmaceutical sector to is adopting the same on a large scale.

In terms of Almond Production - North America Leads

North America holds a 34.9% market share in the global almond products market. Nearly 68% of global almond production comes from North America. Also, there is a surge in the consumption of almond-based snacks as a healthy alternative. This region is said to maintain its market position owing to increased production, consumption, and exports.

The USA is experiencing a rising trend in the consumption of almond-based snacks owing to numerous health benefits. The growing demand for supremely healthy and nutritious food and concerns of a considerable population with a higher rate of obesity has been a few key reasons behind the growth of the market.

Demand for Lactose-free Products Driving the Europe Market

The growing demand for lactose-free foods motivates the European almond products market. This region is accountable for 41% of the global market share. The increasing consumer awareness of the adoption of lactose-free dairy products in everyday life is driving this region’s market. Lactose-free dairy products help maintain the galactose levels in the body. The growing number of lactose-intolerant consumers is a primary factor promoting the market further. Also, the Europe region is anticipated to portray lucrative opportunities for the growth of the almond product market during the forecast period due to the rising product launches in this region.

Start-ups Aiming Big in the Almond Products Market

• The Butternut Co. India’s first healthy nut butter and energy balls company recently introduced Almond butter to its retail shelf. Ever since the company’s inception, it created a range of nut butter that has become a grocery staple for many. Considering the need for an alternative to sweets with an equally sumptuous, yet healthier substitute, The Butternut Co.-Nuts About Health launched a new range of natural nut butter.
• Mylk Labs is a USA-based food and beverage company that manufactures a variety of oatmeal flavors. The brand is inspired by truly homemade recipes having fruit and nuts, organic coconut sugar, seeds, etc. Some of their instant oatmeal flavors are blueberry and Vermont maple, roasted almond, and Himalayan pink salt, sun-ripe strawberry and Madagascar vanilla, granny smith apple and sunflower cinnamon, and toasted coconut and cassia cinnamon.

Key Players Benchmarking the Almond Products Market

Some of the key players in the almond products market are:

• Archer Daniels Midland Company
• Olam International Limited
• Barry Callebaut Group
• Repute Foods Pvt Ltd
• Treehouse California Almonds
• Blue Diamond Growers
• The Wonderful Company
• John B. Sanfilippo & Son
• Borges Agricultural & Industrial Nuts
• Savencia SA
• Kanegrade Limited
• Modern Ingredients
• Royal Nut Company
• Döhler GmbH

Strategic Developments by Few Companies:

• In August 2022, Archer Daniels Midland Company and Benson Hill Partner partnered to serve the rising demand for alternative protein by leveraging Benson Hill’s proprietary ultra-high protein soybeans and ADM’s world-class production and commercial capabilities for the North American food ingredients market.
• In July 2022, Olam Group Ltd., a leading food and agri-business supplying food, ingredients, feed, and fiber, completes the acquisition of Club Coffee L.P., one of Canada’s largest roasters of packaged coffee, to the ‘At Home’ segment.
• The Indian cosmetics company Mama Earth raised USD 40 million in funding in April 2023 to increase the scope of its line of personal care items, which now includes skincare and hair care items made with almond oil.
• Targeting customers looking for all-natural, nourishing haircare options, the French multinational business L'Oréal introduced a new line of hair care products enhanced with almond oil in February 2023.
• Sundial Brands, a natural products firm with headquarters in the United States, bought the SheaMoisture almond oil brand from Unilever in May 2023 to increase its market share in the natural skincare sector.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 6.3% from 2023 to 2033
Base Year for Estimation	2022
Historical Data	2018 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in USD billion and CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Type, Application, Distribution Channel, Region
Regions Covered	North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa
Key Countries Profiled	United States of America, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN,GCC Countries, South Africa
Key Companies Profiled	Archer Daniels Midland Company; Olam International Limited; Barry Callebaut Group; Repute Foods Pvt Ltd; Treehouse California Almonds; Blue Diamond Growers; The Wonderful Company; John B. Sanfilippo & Son; Borges Agricultural & Industrial Nuts; Savencia SA; Kanegrade Limited; Modern Ingredients; Royal Nut Company; Döhler GmbH
Customization	Available Upon Request

Key Segments of the Almond Products Market

By Type:

• Almond Milk
• Whole Almond
• Almond Paste
• Almond Pieces
• Almond Flour
• Others

By Application:

• Confectionery
• Bakery
• Sweet and Savory Snacks
• Nut & Seed butter
• Dairy
• Confectionery
• RTE Cereals
• Milk substitutes & ice creams

By Distribution Channel:

• Departmental Stores
• Food & beverage manufacturers/suppliers
• Online Retail

By Region:

• North America
• Latin America
• Asia Pacific
• Middle East and Africa
• Europe

Frequently Asked Questions

What is the market value in 2023?

The market is valued at USD 8.2 billion in 2023.

What is the CAGR from 2023 to 2033?

The market’s CAGR from 2023 to 2033 will be 6.3%.

Who are the key market players?

Archer Daniels Midland Company, and Savencia SA are key market players.

Which is the expected market share in Europe?

Europe is anticipated to generate a share of 41.0% in 2023.

What is the expected market share in the United States?

The United States is likely to generate a market share of 34.9% in 2023.