The increasing almond-based product launches by key players in the food & beverage market drives the growth of almond ingredients market.
The global almond ingredients market size is estimated to be valued at USD 10.2 billion in 2020 and projected to reach USD 16.9 billion by 2025, recording a CAGR of 10.5% during the forecast period. The global almond ingredients industry has witnessed growing trends in the past years. The growth of this industry is majorly driven by product innovations in the food & beverage industry, as seen in dairy products, snacks & bars, confectionery, cereals, and desserts. This growth is compounded by the increasing health consciousness among consumers, in terms of gaining more awareness about cardiovascular diseases, obesity, and diabetes. This rising awareness compels the food & beverage industry to develop healthy varieties of products using natural nut ingredients, such as almonds, cashews, walnuts, and hazelnuts. The rising disposable income levels also lead to greater purchasing of premium offerings.The positioning of almond ingredients as healthier alternatives to traditional snacks in the market fuels its consumption resulting in growth opportunities for the almond ingredients market.
Key players in this market include ADM (US), Olam International Limited (Singapore), Barry Callebaut (Switzerland), Blue Diamond Growers (US), John B. Sanfilippo & Son (US) , Kanegrade (UK), Borges Agricultural & Industrial Nuts (Netherlands), Savencia SA (France), The Wonderful Company (US), and Harris Woolf California Almonds (US).
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Olam International Limited is one of the leading suppliers of nut ingredients and processed edible nuts in all major global regions and has a strong distribution network globally. The company is a leading agri-business company supplying raw materials and finished products in 65 countries. Olam International has attained a leadership position in numerous businesses, such as rice, cocoa, cashew, coffee, and cotton.The company functions in four major segments, including food staples and packaged foods; edible nuts and spices; confectionery and beverage ingredients; and industrial raw materials, infrastructure, and logistics. It offers almond ingredients under the edible nuts and spices segment.The edible nuts portfolio of Olam International consists of products such as cashews, hazelnuts, peanuts, sesame, and almonds. The company has a distinctive value chain integration, starting from farms and ending at the processing unit. This enables the company to offer a reliable supply of nuts and nut ingredients all year round. In December 2019, Olam International Limited (Singapore) acquired Hughson Nut (California). This helped the company in expanding its almond ingredients capacity and meeting the growing demand from customers in and outside the US.
Blue Diamond Growers is one of the key players in almond processing and marketing globally. Blue Diamond provides almonds and almond products, including roasted almonds, under the Blue Diamond brand and almond milk under the Almond Breeze brand. The company’s Member Relations Department focuses on helping the agricultural community and improving crop production, providing technical advice, or consultation on variety selection for ensuring the quality of crops.Blue Diamond Growers provides a wide range of product portfolio, including whole natural, roasted salted, honey roasted, lightly salted, and snack almonds, which include oven-roasted almonds, fruit-flavored almonds, bold-flavored almonds, coffee-flavored almonds, and cooking & baking almonds. The company also provides a crunchy cracker food called Nut Thins, an almond milk beverage called Almond Breeze, multi-seed, flaxseed, sesame seed, chia seed, and Asiago cheese almonds. It serves customers in more than 90 countries. In March 2019, Blue Diamond launched Almonds & Fruit, a flavored almond snack, to expand its snack almonds portfolio. And in February 2019, Blue Diamond Growers signed a multiyear licensing partnership agreement with Grupo LAlA (Mexico), a leading healthy and nutritious food company. This agreement would help the company sell and distribute its almond milk/beverage, “Almond Breeze,” in Mexico.
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