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.

Global Almond Flavors Market Insights Forecasts to 2033

• The Global Almond Flavors Market Size was estimated at USD 5.11 Billion in 2023
• The Market Size is Expected to Grow at a CAGR of around 6.36% from 2023 to 2033
• The Worldwide Almond Flavors Market Size is Expected to Reach USD 9.47 Billion By 2033
• Europe is Expected to Grow the fastest during the forecast period.

The Global Almond Flavors Market size was worth around USD 5.11 Billion in 2023 and is predicted to grow to around USD 9.47 Billion By 2033 with a compound annual growth rate (CAGR) of 6.36% between 2023 and 2033. The growth of the almond flavors market is mainly influenced by the rising consumer demand for natural and healthier taste alternatives in numerous food and beverage uses. Natural and artificial almond flavors have been extremely popular as they are versatile and can both add and augment the flavor profile of a large variety of products from bakery and confectionery to dairy products and personal care products.

Market Overview

The almond flavor industry is described as the business engaged in the manufacturing, distribution, and consumption of almond flavor, which is employed in different food and drink items. It comprises natural and artificial almond flavors, usually obtained from almonds or prepared artificially to give the flavor of almonds. In addition, increasing customer demand for natural and healthier food is fueling tremendous growth in the almond flavor market. Demand is being fueled by increased awareness of the benefits of almonds, such as their nutritional value and potential health benefits, across various food and beverage markets. The market is also increasing due to the increasing popularity of gourmet and artisanal food products. The flavor and versatility of almond flavors are also being enhanced by advances in food processing and flavoring technology, which are spurring their utilization in several products. The market is growing as a result of the advancements in almond flavor extraction technology and the introduction of new almond flavor types, which enhance the availability and appeal of almond flavors to more consumers.

Report Coverage

This research report categorizes the almond flavors market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the almond flavors market. Recent market developments and competitive strategies such as expansion, type launch, development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the almond flavors market.

Driving Factors

The growing need for natural tastes in foods and drinks is one of the strong drivers in the almond flavors market. There is a growing awareness among consumers about the health effects of synthetic additives, so manufacturers are now looking for natural alternatives. Almonds tastes with their distinct flavor and nutritional properties are finding traction in many foods, from bread to ice cream and drinks. Moreover, almonds are packed with important nutrients such as vitamin E, magnesium, and healthy fats, which make them a desirable option for manufacturers targeting health-conscious consumers further driving the demand for almond flavors market.

Restraining Factors

Almond prices would also vary as they are greatly influenced by climatic situations, drought, and water shortage, particularly in the main almond-producing areas of California. As a result, the cost of almond-based products and almond flavor production will rise, potentially making them too expensive for consumers and producers, which can restrict the demand for the almond flavors market.

Market Segmentation

The almond flavors market share is classified into product, application, and distribution channels.

• 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 being perceived to be a healthier alternative since they lack the artificial additives that may be included in artificial options. Natural almond flavors are more likely to deliver a richer, more natural taste than artificial almond flavors, which tend to have a more chemical or overly sweet aftertaste.

• 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 being able to accompany a vast array of food and beverage products. It goes well with most other flavors such as chocolate, fruits, spices, and nuts, and hence it's an adaptable ingredient for companies to add to their product lines.

• 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 to supermarkets and hypermarkets providing a wide variety of products from various brands, and consumers can select almond-flavored products that appeal to them. Consumers also enjoy the convenience of buying in one place, and can easily buy a range of products, including almond-flavored products.

Regional Segment Analysis of the Almond Flavors Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is expected to hold the largest share of the almond flavors market over the predicted timeframe.

North America is expected to hold the largest share of the almond flavors market over the predicted timeframe. High intake of processed food and drinks and intense emphasis on flavor innovation. The established food and beverage market in the region, combined with an increasing appetite for natural and organic products, fuels the demand for almond flavors. The United States is specifically a key player in the market, with the consumers having a keen interest in premium and artisanal foods that frequently include innovative and high-quality flavors.

Europe is expected to grow at a rapid CAGR in the almond flavors market during the forecast period. The region's prominence on clean-label and sustainable products is well-supported by the natural almond flavors demand. Germany, France, and the United Kingdom are the major contributors to the market, as consumers are looking for healthier and naturally flavored products. The European market will undergo steady growth through a mix of consumer desire for quality and food and beverage innovation.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the almond flavors market along with a comparative evaluation primarily based on their type of offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes type development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• 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) 

Recent Development

• In November 2024, Baskin-Robbins introduced a new ice cream flavor, "Brie My Guest." This unusual flavor combines brie and burrata-flavored ice cream with almonds, pistachios, and an apricot swirl. The flavor is a balance of savory and sweet, evoking a cheeseboard with hints of cheesiness, crunchy nuts, and tangy 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