PUBLISHER: The Business Research Company | PRODUCT CODE: 1727746
PUBLISHER: The Business Research Company | PRODUCT CODE: 1727746
Almond extract is a concentrated flavoring derived from almonds, typically used in cooking and baking to impart a strong, nutty flavor. It is made by combining oil extracted from bitter almonds with alcohol and water, which enhances the flavor.
The main types of almond extract are pure almond extract and mixed almond extract. Pure almond extract is made from bitter almond oil, alcohol, and water, resulting in a concentrated flavoring. It is available in various forms, including liquid and powder. These extracts are distributed through various channels such as online platforms, retail outlets, and wholesale markets, with applications in food and beverages, beauty and personal care, hotels and restaurants, and other sectors.
The almond extract market research report is one of a series of new reports from The Business Research Company that provides almond extract market statistics, including almond extract industry global market size, regional shares, competitors with an almond extract market share, detailed almond extract market segments, market trends and opportunities, and any further data you may need to thrive in the almond extract industry. This almond extract market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 during the historic period can be attributed to culinary traditions and baking culture, the growth of packaged and processed foods, the demand for natural and premium ingredients, the evolution of the global confectionery market, and the 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 the increasing demand for natural and organic products, the expansion of plant-based and vegan diets, growth in premium and gourmet food markets, the increasing adoption of almond extract in beverage applications, and innovation in flavor profiles and blends. Key trends during this period include clean-label products, sustainable farming practices, the development of new flavors and combinations, low-cost extraction methods, and a rise in natural and organic almond extracts.
The increasing demand for organic food is expected to drive the growth of the almond extract market in the coming years. Organic food refers to products grown and processed without synthetic chemicals, pesticides, fertilizers, GMOs, or artificial additives. This demand is fueled by growing consumer awareness about health benefits, environmental sustainability, and a preference for natural, chemical-free products. Almond extract enhances organic food by adding a rich, natural flavor that complements various organic dishes and baked goods, aligning with organic production principles that prioritize purity and quality. For example, in May 2023, the Organic Trade Association reported that U.S. sales of organic food surpassed $60 billion in 2022. In the UK, organic food sales grew from £3.05 billion in 2021 to £3.11 billion in 2022, according to The Organic Research Centre. As demand for organic food rises, the almond extract market is also expanding.
Companies in the almond extract market are focusing on innovations in plant-based protein to meet the growing demand for healthier, sustainable, and allergen-free food ingredients. Plant-based protein, derived from sources such as legumes, grains, nuts, and seeds, provides essential amino acids and serves as an alternative to animal-derived protein in vegan and vegetarian diets. For instance, in May 2022, Bangkok-based Beanbag Superfood launched Mix Almond Protein, a plant-based protein made from almonds. This product provides a high-quality protein alternative, appealing to both vegans and those seeking variety in their protein sources, reflecting the broader trend toward healthier eating habits and sustainable food production.
In June 2024, Core FX Ingredients, a U.S.-based nutrition ingredients manufacturer, acquired Connoils LLC for an undisclosed amount. The acquisition aims to strengthen Core FX Ingredients' position in the nutrition sector by incorporating Connoils' expertise in high-quality oils and powders, particularly almond oil, into its product portfolio. This acquisition enhances Core FX's supply chain capabilities and helps the company better serve the health and wellness markets. Connoils LLC is known for manufacturing almond extract and other ingredients.
Major players 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.
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 almond extract report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the almond extract market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The almond extract market consists of sales of imitation almond extract, organic almond extract, alcohol-free almond extract, and flavored blends. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Almond Extract Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on almond extract market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for almond extract ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The almond extract market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.