[250 Pages Report] The global almond protein market accumulated a market value of US$ 4.14 Billion in 2022 and is expected to register a CAGR of 6% by garnering a market value of US$ 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) | US$ 3.91 Billion |
| Expected Market Value (2022) | US$ 4.14 Billion |
| Anticipated Forecast Value (2032) | US$ 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.
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.
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.
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.
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.
Principal Consultant
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 U.S. 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 2022-2032.
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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 2022-2032.
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 | US$ 4.14 Billion |
| Market Value in 2032 | US$ 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 |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| 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.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2017-2021 and Forecast, 2022-2032 4.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis, 2017-2021 4.2. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Projections, 2022-2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Application 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Application, 2017-2021 5.3. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Application, 2022-2032 5.3.1. Beverages 5.3.2. Confectionery & Bakery 5.3.3. Personal Care 5.4. Y-o-Y Growth Trend Analysis By Application, 2017-2021 5.5. Absolute $ Opportunity Analysis By Application, 2022-2032 6. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Distribution Channel 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Distribution Channel, 2017-2021 6.3. Current and Future Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Distribution Channel, 2022-2032 6.3.1. Online 6.3.2. Hypermarket & Supermarket 6.3.3. Convenience Store 6.4. Y-o-Y Growth Trend Analysis By Distribution Channel, 2017-2021 6.5. Absolute $ Opportunity Analysis By Distribution Channel, 2022-2032 7. Global Market Analysis 2017-2021 and Forecast 2022-2032, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Mn) & Volume (Tons) Analysis By Region, 2017-2021 7.3. Current Market Size Value (US$ Mn) & Volume (Tons) Analysis and Forecast By Region, 2022-2032 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. East Asia 7.3.5. South Asia & Pacific 7.3.6. MEA 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2017-2021 and Forecast 2022-2032, By Country 8.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021 8.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032 8.2.1. By Country 8.2.1.1. U.S. 8.2.1.2. Canada 8.2.2. By Application 8.2.3. By Distribution Channel 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Application 8.3.3. By Distribution Channel 8.4. Key Takeaways 9. Latin America Market Analysis 2017-2021 and Forecast 2022-2032, By Country 9.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021 9.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032 9.2.1. By Country 9.2.1.1. Mexico 9.2.1.2. Brazil 9.2.1.3. Rest of Latin America 9.2.2. By Application 9.2.3. By Distribution Channel 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Application 9.3.3. By Distribution Channel 9.4. Key Takeaways 10. Europe Market Analysis 2017-2021 and Forecast 2022-2032, By Country 10.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021 10.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. Italy 10.2.1.3. France 10.2.1.4. U.K. 10.2.1.5. Spain 10.2.1.6. BENELUX 10.2.1.7. Russia 10.2.1.8. Rest of Europe 10.2.2. By Application 10.2.3. By Distribution Channel 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Application 10.3.3. By Distribution Channel 10.4. Key Takeaways 11. East Asia Market Analysis 2017-2021 and Forecast 2022-2032, By Country 11.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021 11.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032 11.2.1. By Country 11.2.1.1. China 11.2.1.2. Japan 11.2.1.3. South Korea 11.2.2. By Application 11.2.3. By Distribution Channel 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Application 11.3.3. By Distribution Channel 11.4. Key Takeaways 12. South Asia & Pacific Market Analysis 2017-2021 and Forecast 2022-2032, By Country 12.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021 12.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032 12.2.1. By Country 12.2.1.1. India 12.2.1.2. ASEAN 12.2.1.3. Australia and New Zealand 12.2.1.4. Rest of South Asia & Pacific 12.2.2. By Application 12.2.3. By Distribution Channel 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Application 12.3.3. By Distribution Channel 12.4. Key Takeaways 13. MEA Market Analysis 2017-2021 and Forecast 2022-2032, By Country 13.1. Historical Market Size Value (US$ Mn) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017-2021 13.2. Market Size Value (US$ Mn) & Volume (Tons) Forecast By Market Taxonomy, 2022-2032 13.2.1. By Country 13.2.1.1. GCC Countries 13.2.1.2. Turkey 13.2.1.3. South Africa 13.2.1.4. Rest of MEA 13.2.2. By Application 13.2.3. By Distribution Channel 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Application 13.3.3. By Distribution Channel 13.4. Key Takeaways 14. Key Countries Market Analysis 14.1. U.S. 14.1.1. Pricing Analysis 14.1.2. Market Share Analysis, 2021 14.1.2.1. By Application 14.1.2.2. By Distribution Channel 14.2. Canada 14.2.1. Pricing Analysis 14.2.2. Market Share Analysis, 2021 14.2.2.1. By Application 14.2.2.2. By Distribution Channel 14.3. Mexico 14.3.1. Pricing Analysis 14.3.2. Market Share Analysis, 2021 14.3.2.1. By Application 14.3.2.2. By Distribution Channel 14.4. Brazil 14.4.1. Pricing Analysis 14.4.2. Market Share Analysis, 2021 14.4.2.1. By Application 14.4.2.2. By Distribution Channel 14.5. Germany 14.5.1. Pricing Analysis 14.5.2. Market Share Analysis, 2021 14.5.2.1. By Application 14.5.2.2. By Distribution Channel 14.6. Italy 14.6.1. Pricing Analysis 14.6.2. Market Share Analysis, 2021 14.6.2.1. By Application 14.6.2.2. By Distribution Channel 14.7. France 14.7.1. Pricing Analysis 14.7.2. Market Share Analysis, 2021 14.7.2.1. By Application 14.7.2.2. By Distribution Channel 14.8. U.K. 14.8.1. Pricing Analysis 14.8.2. Market Share Analysis, 2021 14.8.2.1. By Application 14.8.2.2. By Distribution Channel 14.9. Spain 14.9.1. Pricing Analysis 14.9.2. Market Share Analysis, 2021 14.9.2.1. By Application 14.9.2.2. By Distribution Channel 14.10. BENELUX 14.10.1. Pricing Analysis 14.10.2. Market Share Analysis, 2021 14.10.2.1. By Application 14.10.2.2. By Distribution Channel 14.11. Russia 14.11.1. Pricing Analysis 14.11.2. Market Share Analysis, 2021 14.11.2.1. By Application 14.11.2.2. By Distribution Channel 14.12. China 14.12.1. Pricing Analysis 14.12.2. Market Share Analysis, 2021 14.12.2.1. By Application 14.12.2.2. By Distribution Channel 14.13. Japan 14.13.1. Pricing Analysis 14.13.2. Market Share Analysis, 2021 14.13.2.1. By Application 14.13.2.2. By Distribution Channel 14.14. South Korea 14.14.1. Pricing Analysis 14.14.2. Market Share Analysis, 2021 14.14.2.1. By Application 14.14.2.2. By Distribution Channel 14.15. India 14.15.1. Pricing Analysis 14.15.2. Market Share Analysis, 2021 14.15.2.1. By Application 14.15.2.2. By Distribution Channel 14.16. ASEAN 14.16.1. Pricing Analysis 14.16.2. Market Share Analysis, 2021 14.16.2.1. By Application 14.16.2.2. By Distribution Channel 14.17. Australia and New Zealand 14.17.1. Pricing Analysis 14.17.2. Market Share Analysis, 2021 14.17.2.1. By Application 14.17.2.2. By Distribution Channel 14.18. GCC Countries 14.18.1. Pricing Analysis 14.18.2. Market Share Analysis, 2021 14.18.2.1. By Application 14.18.2.2. By Distribution Channel 14.19. Turkey 14.19.1. Pricing Analysis 14.19.2. Market Share Analysis, 2021 14.19.2.1. By Application 14.19.2.2. By Distribution Channel 14.20. South Africa 14.20.1. Pricing Analysis 14.20.2. Market Share Analysis, 2021 14.20.2.1. By Application 14.20.2.2. By Distribution Channel 15. Market Structure Analysis 15.1. Competition Dashboard 15.2. Competition Benchmarking 15.3. Market Share Analysis of Top Players 15.3.1. By Regional 15.3.2. By Application 15.3.3. By Distribution Channel 16. Competition Analysis 16.1. Competition Deep Dive 16.1.1. InovoBiologic Inc. 16.1.1.1. Overview 16.1.1.2. Product Portfolio 16.1.1.3. Profitability by Market Segments 16.1.1.4. Sales Footprint 16.1.1.5. Strategy Overview 16.1.1.5.1. Marketing Strategy 16.1.1.5.2. Product Strategy 16.1.1.5.3. Channel Strategy 16.1.2. Celtic Sea Minerals 16.1.2.1. Overview 16.1.2.2. Product Portfolio 16.1.2.3. Profitability by Market Segments 16.1.2.4. Sales Footprint 16.1.2.5. Strategy Overview 16.1.2.5.1. Marketing Strategy 16.1.2.5.2. Product Strategy 16.1.2.5.3. Channel Strategy 16.1.3. Maxicrop USA 16.1.3.1. Overview 16.1.3.2. Product Portfolio 16.1.3.3. Profitability by Market Segments 16.1.3.4. Sales Footprint 16.1.3.5. Strategy Overview 16.1.3.5.1. Marketing Strategy 16.1.3.5.2. Product Strategy 16.1.3.5.3. Channel Strategy 16.1.4. BioFlora, LLC 16.1.4.1. Overview 16.1.4.2. Product Portfolio 16.1.4.3. Profitability by Market Segments 16.1.4.4. Sales Footprint 16.1.4.5. Strategy Overview 16.1.4.5.1. Marketing Strategy 16.1.4.5.2. Product Strategy 16.1.4.5.3. Channel Strategy 16.1.5. Alesco S.r.l. 16.1.5.1. Overview 16.1.5.2. Product Portfolio 16.1.5.3. Profitability by Market Segments 16.1.5.4. Sales Footprint 16.1.5.5. Strategy Overview 16.1.5.5.1. Marketing Strategy 16.1.5.5.2. Product Strategy 16.1.5.5.3. Channel Strategy 16.1.6. Humates and Seaweeds Pvt Ltd 16.1.6.1. Overview 16.1.6.2. Product Portfolio 16.1.6.3. Profitability by Market Segments 16.1.6.4. Sales Footprint 16.1.6.5. Strategy Overview 16.1.6.5.1. Marketing Strategy 16.1.6.5.2. Product Strategy 16.1.6.5.3. Channel Strategy 16.1.7. Blue Diamond Ingredients 16.1.7.1. Overview 16.1.7.2. Product Portfolio 16.1.7.3. Profitability by Market Segments 16.1.7.4. Sales Footprint 16.1.7.5. Strategy Overview 16.1.7.5.1. Marketing Strategy 16.1.7.5.2. Product Strategy 16.1.7.5.3. Channel Strategy 16.1.8. Noosh Brands 16.1.8.1. Overview 16.1.8.2. Product Portfolio 16.1.8.3. Profitability by Market Segments 16.1.8.4. Sales Footprint 16.1.8.5. Strategy Overview 16.1.8.5.1. Marketing Strategy 16.1.8.5.2. Product Strategy 16.1.8.5.3. Channel Strategy 16.1.9. Almond Pro Foods 16.1.9.1. Overview 16.1.9.2. Product Portfolio 16.1.9.3. Profitability by Market Segments 16.1.9.4. Sales Footprint 16.1.9.5. Strategy Overview 16.1.9.5.1. Marketing Strategy 16.1.9.5.2. Product Strategy 16.1.9.5.3. Channel Strategy 16.1.10. BASF 16.1.10.1. Overview 16.1.10.2. Product Portfolio 16.1.10.3. Profitability by Market Segments 16.1.10.4. Sales Footprint 16.1.10.5. Strategy Overview 16.1.10.5.1. Marketing Strategy 16.1.10.5.2. Product Strategy 16.1.10.5.3. Channel Strategy 16.1.11. Sabinsa Corporation 16.1.11.1. Overview 16.1.11.2. Product Portfolio 16.1.11.3. Profitability by Market Segments 16.1.11.4. Sales Footprint 16.1.11.5. Strategy Overview 16.1.11.5.1. Marketing Strategy 16.1.11.5.2. Product Strategy 16.1.11.5.3. Channel Strategy 17. Assumptions & Acronyms Used 18. Research Methodology
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Almond Protein Market
