10-Sep-2019: The global almond protein
market size is anticipated to reach USD 491.2 million by
2025, according to a new report by Grand View Research, Inc. It is expected to
expand at a CAGR of 5.8% during the forecast period. The growth is driven by rising
consumption of plant based protein due to a rise in risk of heart diseases,
cancer, and Trimethylamine N-oxide (TMAO) which occur due to consumption of
animal based protein.
About Grand View Research
The changing
perception of health among consumers and growth in products catering to the
health of sportspersons and athletes are further accelerating the market
growth. The beverages market, which includes protein shakes and smoothies for
muscle recovery and general health held the largest share and is expected to
register the highest CAGR of 5.9% from 2019 to 2025. Moreover, in 2016 sports
nutrition was the largest and fastest growing protein application segment.
U.S., U.K.,
Germany, and China, among others are the major consumers of almond protein
market. U.S. remains dominant player in both production and consumption of
almonds. In 2018, U.S. consumed 315,736 MT of almonds which was the highest
followed by India which consumed 82,915 MT of almonds.
The demand is
expected to increase in Asian countries owing to the large skincare market
which is moving towards the application and integration of natural ingredients
in cosmetics. For instance, hydrolyzed sweet almond protein is an almond
protein which is used as an ingredient in hair and skin conditioning products.
Asia Pacific is anticipated to witness the highest CAGR of 6.0% over the
forecast period due to growing urbanization and inclination of consumers
towards a healthy lifestyle.
In 2018, the online
segment held the largest market share of more than 60%, which is expected to
remain constant over the forecast period. Rising penetration of e-commerce and
low cost of online startups are major factors spurring the growth of this
segment.
The leading market
players are InovoBiologic Inc.; Celtic Sea Minerals; Marigot Ltd.; Maxicrop
USA; BioFlora, LLC; Alesco S.r.l.; Humates And Seaweeds Pvt Ltd; HMHS Solutions
Limited; and Sar Agrochemicals & Fertilizers Pvt. Ltd amongst others.
In
depth research report on Almond Protein Market
Further key findings from the report suggest:
·
Beverages segment is expected to expand at the highest CAGR
of 5.9% over the next few years
·
Online distribution channel accounted for the largest revenue
share of more than 60% and is forecasted to expand at the highest CAGR of 5.9%
over the forecast period
·
Growth of online segment is due to rising penetration of
e-commerce and low cost of startups
·
North America is anticipated to hold the largest market share
for almond protein over the forecast period.
Grand View Research
has segmented the global almond protein market on the basis of application,
distribution channel, and region:
Almond Protein Application Outlook (Revenue, USD Million,
2015 - 2025)
·
Beverages
·
Bakery & Confectionery
·
Personal Care
Almond Protein Distribution Channel Outlook (Revenue, USD
Million, 2015 - 2025)
·
Online
·
Convenience Stores
·
Supermarket & Hypermarket
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About Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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