The Business Research Company’s report on the Almond Extract Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
#How have key drivers contributed to the rapid growth of the almond extract market?
The increasing demand for organic food is expected to propel the growth of the almond extract market going forward. Organic food refers to products that are grown and processed without the use of synthetic chemicals, pesticides, fertilizers, genetically modified organisms (GMOs), or artificial additives. The increasing demand for organic food is due to growing consumer awareness of health benefits, environmental sustainability, and the desire for natural, chemical-free products. Almond extract enhances organic food by providing a natural, rich flavor profile that complements a wide range of organic dishes and baked goods, offering an authentic taste without the need for artificial additives, thus aligning with the principles of organic food production that prioritize purity and quality. For instance, in May 2023, according to the Organic Trade Association, a US-based organization for protecting the organic trade, sales of organic food in the US surpassed $60 billion for the first time in 2022, and when non-food items are included, total organic sales hit a record $67.6 billion. Moreover, in February 2023, according to The Organic Research Centre, a UK-based non-profit organization, sales from the production of organic food and beverages in the United Kingdom grew from £3.05 billion ($3.88 billion) in 2021 to £3.11 billion ($3.95 billion) in 2022. Therefore, increasing demand for organic food is driving the growth of almond extract market.
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How has the almond extract market size evolved, and what are the latest forecasts for its expansion?
The almond extract market size has grown strongly in recent years. It will grow from $1.06 billion in 2024 to $1.14 billion in 2025 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to culinary tradition and baking culture, growth of packaged and processed foods, demand for natural and premium ingredients, evolution of the global confectionery market, expansion of the beverage industry.
The almond extract market size is expected to see strong growth in the next few years. It will grow to $1.48 billion in 2029 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to increasing demand for natural and organic products, expansion of plant-based and vegan diets, growth in premium and gourmet food markets, increasing adoption in beverage applications, innovation in flavor profiles and blends. Major trends in the forecast period include clean-label products, sustainable farming practices, development of new flavors and combinations, low-cost extraction methods, natural and organic almond extracts.
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Which major companies dominate the almond extract market?
Major companies operating in the almond extract market are Archer-Daniels-Midland Company, Waitrose And Partners Ltd., Savencia Sa, McCormick And Company, The Wonderful Company, Blue Diamond Growers, John B. Sanfilippo & Son, Naturex SA, Fine Foods Pvt Ltd., Borges Agricultural And Industrial Nuts, Frontier Co-op, Amoretti’s Enterprises Pty Ltd., Star Kay White Inc., Nielsen-Massey Vanillas International LLC, Kanegrade Flavours & Ingredients Private Limited, Treehouse Almonds LLC, Flavorman Inc., Royal Nut Company Pty Ltd, Domaine de Provence LLC, Queen Fine Foods Pty Ltd, The Almond Company Inc., Lochhead Manufacturing Inc.
What trends will shape the future of the airport operations market?
Major companies operating in almond extract market are focusing on innovations in plant-based protein to meet the growing demand for healthier, sustainable, and allergen-free food ingredients, while enhancing the nutritional value and flavor profiles of their products. Plant-based protein is a type of protein derived from plants, such as legumes, grains, nuts, and seeds, that provides essential amino acids and is often used as an alternative to animal-derived protein in vegetarian and vegan diets. For instance, in May 2022, Beanbag Superfood, a Bangkok-based company that manufactures almond extract launches new Mix Almond Protein product, an innovative plant-based protein from almond. The almond protein is designed to offer a high-quality alternative to traditional protein sources, appealing to both vegans and those looking to diversify their protein intake. This innovation is part of a broader trend towards healthier eating habits and sustainable food production.
Which region dominates the almond extract market, and what factors contribute to its leadership?
North America was the largest region in the almond extract market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the almond extract market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How is the almond extract market segmented, and which segment holds the largest share?
The almond extract market covered in this report is segmented –
1) By Type: Pure Almond Extract, Mixed Almond Extract
2) By Form: Liquid, Powder
3) By Distribution: Online, Retail, Wholesale
4) By Application: Food And Beverage, Beauty And Personal Care, Hotel And Restaurant, Other Applications
Subsegments:
1) By Pure Almond Extract: Natural Almond Extract, Organic Almond Extract
2) By Mixed Almond Extract: Almond-Vanilla Extract, Almond-Rum Extract, Almond-Chocolate Extract
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How is the almond extract market defined, and what are its core characteristics?
Almond extract is a concentrated flavoring derived from almonds, commonly used in cooking and baking to add a strong, nutty flavor. It is made by combining oil extracted from bitter almonds with alcohol and water, which intensifies the flavor.
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