The global almond protein market accumulated a market value of USD 4.14 Billion in 2022 and is expected to register a CAGR of 6% by garnering a market value of USD 7.42 Billion in the forecast period 2022 to 2032. Growth of the market can be attributed to the increasing dependency on almond protein by the vegan population.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 3.91 Billion |
| Expected Market Value (2022) | USD 4.14 Billion |
| Anticipated Forecast Value (2032) | USD 7.42 Billion |
| Projected Growth Rate (2022 to 2032) | 6% CAGR |
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As consumers across the globe move towards a preference for plant-based and more protein-rich diets, almonds are becoming less of a luxury and more of a necessity. In recent years, consumers are increasingly seeking alternatives to meat and dairy for health, ethical, and environmental reasons, highlighting massive growth prospects of nut milk and nut-as-a-meat protein replacement markets.
Considered a nutritionally dense ‘superfood’, almond is gaining momentum as a key ingredient in a range of healthy snacks and developing a strong foothold in the plant-protein space. Demand for almond protein has been gaining a boost from increasing number of consumers switching to plant-based diets, in the view of changing taste preferences and increasing general health and environmental concerns.
The plant-based protein market is rapidly expanding and extending beyond developed regions and to sources beyond wheat, soy, and pea protein. As consumers’ interest in improving protein intake remains strong with more attention being paid to certain types of proteins and their sources, the almond protein market is projected to grow at a significant pace in the years ahead.
High demand for clean labels, growing number of consumers with gluten intolerance, and greater awareness about the benefits of protein-enriched products will continue to complement the almond protein market growth.
Rapid Emergence of High-protein Trend
As consumer demand for food with a high protein profile accelerates, manufacturers are seeking points of differentiation to stand out in what is becoming a crowded marketplace. This, in turn, is expected to offer tailwinds to the growth of the almond protein market. Today, protein fortification is encroaching on everything from snacks to pasta to frozen ready meal. With food manufacturers targeting to piece together disparate health and cultural factors influencing consumption, key players in the almond protein market should be looking at a period of sustained demand.
Rise of Vegan Culture
Mounting concerns over animal welfare among a growing number of consumers worldwide has resulted in the rise of vegan culture. The trend of veganism and vegetarianism is weighing on the same scale as growing demand for plant-based food ingredients, and plant-based proteins are no exception. These trends have further inundated the food industry with numerous products ranging from plant-based meat to plant-based ice creams.
This, in turn, is expected to boost application scope of almond proteins. In addition, several challenges associated with other plant-derived ingredients such as texture challenges from pea protein, gluten intolerance and allergic reaction to soy are putting the spotlight on almond protein.
Optimal Sensory Profile
As the majority of consumers rank taste and flavor as the most important properties influencing their purchase intent, protein snacks are plant-based protein beverages that are required to meet taste expectations. In addition to strong consumer perception of ‘heart healthy’, the leading advantage of almond protein is its ideal sensory profile that wins purchasing decisions of consumers.
Owing to its neutral taste and texture profile, almond proteins are being used in a variety of protein ingredient blends. Moreover, it requires no masking agents, thereby allowing ‘clean’ ingredient statements. With increasing consumers’ inquisitiveness about food and their sourcing, the demand for almond protein is expected to grow from strength to strength in the near future.
Technological Advancements in Almond Farming Methods
As more studies continue to validate health and nutritional benefits of almonds and desire for healthier foods and snacks grows among consumers to counter increasingly prevalent lifestyle diseases, almond protein is projected to witness high demand. Increasing adoption of automated management processes and scientific approach to planting almonds will remain key to increasing the production for almond proteins to sustain ever-increasing demand. Furthermore, advancements in automated processes will not only reduce management costs but also the price of final products, which in turn will attract huge attention from consumers, especially in low- and mid-income countries.
The growing demand for almond protein and the lower rate of production along with the supply of the same is not able to fulfill the demand for end user industries. Thus, the commercialization of the almond protein is urgently required. Moreover, farmers need to invest in advanced technology to increase the production scale of almonds on a large scale.
Global warming along with the climate crisis is degrading the overall production of almonds across different geographical regions. This, in turn, is hampering the growth of the almond protein market. All these factors are derailing the progress of the almond protein market.
North America is the largest contributor to the almond protein market. This is owing to the increasing production rate of almonds, especially in the USA the use of almond protein for different purposes such as personal care, confectionery and fitness is driving the growth of the almond protein market in North America.
Moreover, the fitness conscious population of the country is investing in almond-based protein beverages. This, in turn, is boosting the demand for almond protein in North America.
Owing to the reasons mentioned above, North America is expected to register a CAGR of 8% for the almond protein market in the forecast period 2022 to 2032.
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Increasing demand for almond protein in countries like Japan, India and China is playing a key role in bolstering the demand for the same in the Asia Pacific region. Almond protein is widely used in hair oil and beauty care products in these countries. In addition, the use of almond protein is widened to different desserts in the region.
Due to the aforementioned regions, Asia Pacific is expected to register a CAGR of 6% in the almond protein market in the assessment period 2022 to 2032.
Some of the key players operating in the almond protein market include Blue Diamond Ingredients, Noosh Brands, Almond Pro Foods, InovoBiologic Inc., Sabinsa Corporation, and BASF.
| Report Attribute | Details |
|---|---|
| Market Value in 2022 | USD 4.14 Billion |
| Market Value in 2032 | USD 7.42 Billion |
| Growth Rate | CAGR of 6% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million,and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Application, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; MEA |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Blue Diamond Ingredients; Noosh Brands ; Almond Pro Foods; InovoBiologic Inc.; Sabinsa Corporation; BASF |
| Customization | Available Upon Request |
FMI projects the global almond protein market to expand at a 6% value CAGR by 2032
North America is expected to be the most opportunistic almond protein market, expanding at an 8% CAGR.
Blue Diamond Ingredients, Noosh Brands, Almond Pro Foods are some prominent almond protein manufacturers.
| Estimated Market Size (2025E) | USD 4.92 billion |
| Projected Market Value (2035F) | USD 10.83 billion |
| Value-based CAGR (2025 to 2035) | 9.1% |
| Estimated Market Value (2024E) | USD 1,604.3 million |
|---|---|
| Projected Market Revenue (2034F) | USD 4,723.9 million |
| Value CAGR (2024 to 2034) | 11.4% |
| Market Valuation (2023) | USD 1.6 billion |
|---|---|
| Market Valuation (2033) | USD 3.4 billion |
| Market CAGR (2023 to 2033) | 7.9% |
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