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The almond ingredients market was valued at USD 9,313.3 million in 2019. It is projected to reach USD 16,965.0 million by 2025, at a CAGR of 10.5% during the forecast period.
Numerous nutritional benefits offered by almond and almond ingredients, a rapid increase in almond-based product launches by key players in the food & beverage market, growing inclination of consumers toward plant-based and gluten-free products, and associations and organizations promoting the nut ingredient industry are the key factors projected to drive the growth of the almond ingredients market during the forecast period. However, the growth of the almond ingredients market is inhibited by factors, such as unstable prices of raw materials and growing incidences of almond allergy among consumers.