The global almond powder market is expected to post a CAGR of over 5% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global almond powder market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is increasing awareness about the health benefits of almonds. They are a rich source of antioxidants, and the consumption of almonds helps in increasing the vitamin E level in plasma and red blood cells and lowers the cholesterol levels in the body. Also, being low in carbohydrates almonds are known to increase the feeling of fullness, making it one of the best snacks for health-conscious people. Furthermore, the magnesium present in almonds can help lower the blood pressure levels in the human body. High blood pressure is one of the leading causes of heart attacks, strokes, and kidney failure. The various health benefits associated with the consumption of almonds are supporting the growth of the global almond powder market during the forecast period.
As per Technavio, the increasing demand for gluten-free food products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global almond powder market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over 2019-2023.
Global almond powder market: Increasing demand for gluten-free food products
The increasing demand for gluten-free food products is another trend that can positively influence the global almond powder market during the forecast period. Almond is naturally gluten-free and is a popular option among consumers following a gluten-free diet. An increasing number of people with celiac disease is one of the factors spurring the demand for gluten-free food products. The global gluten-free food market is expected to grow at a CAGR of more than 12% during the forecast period. The growing demand for gluten-free food products will propel the adoption of almond powder during the forecast period.
“Apart from the increasing demand for gluten-free products, the new product launches containing almond powder as ingredients is another factor that drives the growth of the market. The awareness among consumers about the health benefits of almonds is propelling the demand for products containing almond powder as an ingredient. For instance, in March 2019, Simple Mills Inc launched its new Almond powder Brownie mix in the market. Due to such product launches, the market for almond powder is expected to showcase a positive outlook during the next few years,” says a senior analyst at Technavio.
Global almond powder market: Segmentation analysis
This market research report segments the global almond powder market by product (conventional almond powder and organic almond powder) and geographical regions (North America, APAC, Europe, MEA, and South America).
The North American region led the market in 2018, followed by APAC, Europe, MEA, and South America, respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the rising awareness among consumers about the health benefits of the consumption of almonds in the region.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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