The Global Almond Protein Market was valued at USD XX billion in 2019 and is expected to grow at CAGR of XX% over the forecast period. Almonds contain vitamins, minerals, protein, and fiber, and so they may offer a number of health benefits. Almond protein is a concentrated, plant-based protein source which is extracted from raw almonds. It is an alternative for soy protein and animal-based milk products owing to its high mineral and vitamin contents. It contains high performance antioxidants which defend the cells against damage and significantly reduce the risk of various health diseases such as diabetes and cancer. Almond protein finds majority of application in beverages like smoothies and milkshakes to give them a protein boost. The protein is made from the process of pressurisation which removes more than half of the fat, making it ideal for use in health and wellness products like protein bars and shakes.
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 high functional property of almond protein and its natural health benefits are boosting its market growth. The increase in demand for organic and natural skincare products is driving the demand for almond protein owing to its benefits for improving skin texture and providing moisture to the skin. For instance, hydrolysed sweet almond protein improves skin tolerability and reduces skin irritation. Fluctuating Raw Material Prices could be the challenge for the almond protein market.
Almond protein market is segmented based on the type, distribution channel and region. Most of the industry participants are exploring related business segments to broaden their product offerings and commercially exploit the lucrative market.
The almond protein market is segmented by type into beverages, bakery and confectionery, and personal care. Beverages held the largest market share because of the rising use of the product in healthy and ready to make milkshakes and smoothies. Also, more number of people inclining towards workout. People who workout and need protein in their diet for muscle repair mainly consumes protein. These products are gaining praises of vegan and highly health-conscious consumers. Bakery and confectionery is expected to grow during the forecast period. Protein bars and protein balls are replacing normal food items and expanding its market share. The bakery products like waffles, pancakes, and cookies are now using almond protein due to its benefits over other animal and plant-based proteins.
Distribution Channel Outlook:
The distribution channel for the almond protein market is segmented into online, hypermarket & supermarket and convenience store. The online distribution channel segment held the largest market share. The major factors contributing to the growth of this segment are fast paced lifestyle, increase in the number of internet users, easy internet access, and penetration of e-commerce. Moreover, discounts and user reviews on online platforms are anticipated to fuel online sales over the forecast period. Hypermarket and supermarket is the second largest segment.
Based on the region, the global almond protein market has been segmented by North America, Europe, Asia Pacific, Middle East & Africa and South America. North America almond protein market is having a highest demand. The U.S has the largest number of fitness-oriented people which is further increasing the demand. Europe driven by France, Italy, UK, and Germany may witness substantial growth during the forecast period. Increasing disposable income along with demand for instant and nutritious food products is likely to boost the almond protein market growth. Asia Pacific almond protein market demand led by China, India and Japan may witness significant growth owing to the increasing inclination towards organic, protein rich food products and growing demand for a healthy lifestyle.
The leading companies focus on the expansion of their almond protein business, in the local and international markets. Certain players have been expanding their geographical presence by acquiring or merging with the manufacturers in the international markets. InovoBiologic Inc., Celtic Sea Minerals, Marigot Ltd., Maxicrop USA, BioFlora, Alesco S.r.l., Humates and Seaweeds Pvt Ltd, HMHS Solutions Limited are some major players in the almond protein market.
Key Developments in the almond protein market:
- In June 2019, Almond Board of California introduced three fastest growing categories for almond which are almond butters, ice cream and dairy alternatives.
What Does This Report Provide?
This report provides a detailed understanding of the global almond protein market from qualitative and quantitative perspectives during the forecast period. The report also provides the potential impact dynamic indicators on the market during the forecast period and an in-depth analysis of the leading companies operating in the market.
- Confectionery & Bakery
- Personal Care
By Distribution Channel:
- Hypermarket & Supermarket
- Convenience Store
North America Almond Protein Market
- North America, by Country
- North America, by Type
- North America, by Distribution Channel
Europe Almond Protein Market
- Europe, by Country
- The Netherlands
- Rest of Europe
- Europe, by Type
- Europe, by Distribution Channel
Asia Pacific Almond Protein Market
- Asia Pacific, by Country
- South Korea
- Rest of Asia Pacific
- Asia Pacific, by Type
- Asia Pacific, by Distribution Channel
Middle East & Africa Almond Protein Market
- Middle East & Africa, by Country
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Middle East & Africa, by Type
- Middle East & Africa, by Distribution Channel
South America Almond Protein Market
- South America, by Country
- Rest of South America
- South America, by Type
- South America, by Distribution Channel
Reasons to Buy This Report:
- Market size estimation of the almond protein market on a regional and global basis
- Unique research Usage for market size estimation and forecast
- Profiling of major companies operating in the market with key developments
- Broad scope to cover all the possible segments helping every stakeholder in the market
We provide customization of the study to meet specific requirements:
- By Segment
- By Sub-segment
- By Region/Country
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