Market Size of Almond-based Spreads Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.80 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Almond-based Spreads Market Analysis
The almond-based spreads market is projected to register a CAGR of 5.8 % during the forecast period.
The increase in lifestyle diseases all over the world, such as obesity, diabetes, and cardiovascular disorders, among others, has led consumers to adopt healthier food choices. The health benefits associated with almonds drive the growth of the almond-based spreads market. The manufacturers in the industry claim that almond-based spreads have essential nutrients, such as fiber, calcium, iron, magnesium, riboflavin, vitamin E, and zinc. Hence, consumers are replacing traditional items, such as jams, sauces, and mayonnaise, with almond-based spreads. Moreover, consumer preference is influenced due to the presence of healthy fats in almonds that lead to better skin, hair, metabolism, energy, and immunity.
The increasing concern of peanut allergies is prevalent in countries such as the United States, Canada, the United Kingdom, and Australia, among others. This is estimated to boost the sales of almond-based spreads as consumers are looking for alternative vegan spreads. Further, the differentiation of almond-based spreads with the inclusion of new flavors and organic certification is the key factor driving the growth of the market studied.
