Global Almond Flavors Market Size To Exceed USD 9.47 Billion By 2033 | CAGR Of 6.36%
Category: Food & BeveragesGlobal Almond Flavors Market Size To Exceed USD 9.47 Billion By 2033
According to a research report published by Spherical Insights & Consulting, The Global Almond Flavors Market Size is Expected to Grow from USD 5.11 Billion in 2023 to USD 9.47 Billion By 2033, at a CAGR of 6.36% during the forecast period 2023-2033.
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Browse key industry insights spread across 230 pages with 130 Market data tables and figures & charts from the report on the"Global Almond Flavors Market Size, Share, and COVID-19 Impact Analysis, By Product (Natural Almond Flavor, Artificial Almond Flavor, Organic Almond Flavor, Almond Extract), By Application (Food and Beverages, Bakery and Confectionery, Dairy Products, Personal Care, and Others), By Distribution Channel (Online Retail, Supermarkets/Hypermarkets, Specialty Stores, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/almond-flavors-market
The almond flavor industry is defined as the business that deals with the manufacturing, marketing, and consumption of almond flavors applied in numerous foods, drinks, personal care products, and others. Almond flavors can either come from natural almonds or be artificially made to replicate the almond taste and smell. The flavors are added as main ingredients to add or give the typical almond flavor to products. Moreover, the rising need for natural flavor in foods and drinks is a major driver. Consumers are increasingly aware of the health consequences of artificial additives, leading to manufacturers looking for natural alternatives. Almond flavors, which are distinct in their taste and healthy advantages, are popular in numerous products ranging from baked foods to ice creams and drinks. However, almond prices can also change drastically based on climatic conditions, drought, and water scarcity, which can result in higher prices for almond-based products and almond flavor production, making them less accessible to consumers and producers.
The natural almond flavor segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the product, the almond flavors market is divided into natural almond flavor, artificial almond flavor, organic almond flavor, and almond extract. Among these, the natural almond flavor segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to natural almond flavors tend to provide a deeper, truer flavor as opposed to artificially flavored almond which tends to give a more chemical or overly sugary aftertaste. That trueness is particularly needed in high-quality products such as gourmet chocolates, artisanal baking, and gourmet beverages.
The food and beverages segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the application, the almond flavors market is divided into food and beverages, bakery and confectionery, dairy products, personal care, and others. Among these, the food and beverages segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is driven by almond flavor can be used to enhance a broad spectrum of food and beverage items. It goes well with numerous other tastes such as chocolate, fruits, spices, and nuts, making it a useful ingredient for producers to use in their products.
The supermarket/hypermarket segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the distribution channel, the almond flavors market is divided into online retail, supermarkets/hypermarkets, specialty stores, and others. Among these, the supermarket/hypermarket segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth is due supermarkets and hypermarkets provide a variety of products under various brands from which consumers are able to select almond-flavored products according to their taste.
North America is expected to hold the majority share of the global almond flavors market during the forecast period.
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North America is expected to hold the majority share of the global almond flavors market during the forecast period. High intake of packaged food and drink and a huge emphasis on taste innovation. Well-established food and drink industry within the region combined with increasing consumer demand for organic and natural offerings are conducive to growth in almond flavor.
Asia Pacific is expected to grow at the fastest pace in the global almond flavors market during the forecast period. The focus of the region on clean-label and sustainable products is in line with the need for natural almond flavors. Germany, France, and the United Kingdom are top contributors to the market, with consumers looking for healthier and naturally flavored products.
Major vendors in the global almond flavors market are McCormick & Company, Inc., Kerry Group plc, Symrise AG, Givaudan SA, International Flavors & Fragrances Inc., Sensient Technologies Corporation, Firmenich SA, Takasago International Corporation, Robertet SA, Frutarom Industries Ltd., Döhler Group, Blue Diamond Growers, Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In November 2024, Baskin-Robbins has introduced a new ice cream flavor, "Brie My Guest." The one-of-a-kind flavor is the brie and burrata-flavored ice cream mixed with almonds, pistachios, and apricot swirl. The flavor is a mix of savory and sweet, somewhat similar to a cheeseboard with low-key cheesy flavors, crunchy nuts, and tart apricots.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the almond flavors market based on the below-mentioned segments:
Global Almond Flavors Market, By Product
- Natural Almond Flavor
- Artificial Almond Flavor
- Organic Almond Flavor
- Almond Extract
Global Almond Flavors Market, By Application
- Food and Beverages
- Bakery and Confectionery
- Dairy Products
- Personal Care
- Others
Global Almond Flavors Market, By Distribution Channel
- Online Retail
- Supermarkets/Hypermarkets
- Specialty Stores
- Others
Global Almond Flavors Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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