Northrook, IL -- (SBWIRE) -- 11/15/2019 -- The global almond ingredients market is estimated to be valued at USD 9.0 billion in 2019 and is projected to reach USD 16.4 billion by 2025, recording a CAGR of 10.6% from 2019 to 2025. The market is driven by factors such as the growing demand for almond-based snack products and increasing awareness about the health benefits of almonds as a healthy and high-nutrient ingredient. High prices, fluctuation almond production, and rising almond allergies are projected to inhibit the growth of the almond ingredients market.

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By type, the almonds pieces segment is projected to witness the fastest growth during the forecast period

The almond pieces segment is estimated to grow at the highest CAGR as it adds texture, crunch, and nutrition to products and are highly used in the preparation of health-based snack foods. Almond pieces or chopped almonds are considered nutritious and intensify the flavor of the food product to which they are added. The market for almond pieces is projected to grow rapidly across regions, as there is an increase in the number of food processing industries and consumption among the population. Due to these factors, the almond pieces market is projected to grow at the highest CAGR.

By application, the snacks & bars segment is projected to witness the fastest growth during the forecast period

The snacks & bars segment is estimated to grow at the highest CAGR during the forecast period. Almond ingredients ideal for snacks & bars, as consumers perceive them natural and healthy. Consumers, globally, are looking for healthier and nutritious snacking options that are free of pesticides, chemicals, and GMOs. Due to these factors, the snacks & bars segment is projected to drive the almond ingredients market.

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Asia Pacific is projected to be the fastest-growing region in the almond ingredients market, due to the growing consumption of almond-based products in the region and rising awareness about the health benefits of almonds

Asia Pacific is projected to be the fastest-growing region during the forecast period in the almond ingredients market. The region is witnessing significant demand for almond-based products such as almond milk, almond-based snacks & bars, and almond-based confectionery products. The increased consumption is attributed to the changing consumer preferences, health benefits of almonds, and the growing demand during the non-festive season. China & India are the major markets for almond ingredients in the region. The high growth rate in the Asia Pacific region and the increasing investments by leading almond manufacturers for expansions are further projected to drive the market growth.

Leading players profiled in this report:

- Archer Daniels Midland Company (US)
- Olam International Limited (Singapore)
- Barry Callebaut Group (Switzerland)
- Blue Diamond Growers (US)
- John B. Sanfilippo & Son (US)
- Borges Agricultural & Industrial Nuts (Spain)
- Savencia SA (France)
- Kanegrade Limited(UK)
- The Wonderful Company (US)
- Harris Woolf California Almonds (US)
- Treehouse California Almond (US)
- Royal Nut Company (Australia)
- Döhler GmbH (Germany)