Almond Extract Market Report 2025-2034: Industry Overview, Trends, And Forecast Analysis

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What Is the Current Almond Extract Market Size and Its Estimated Growth Rate?
There has been robust growth in the almond extract market over the past few years. The market size is set to swell from $1.06 billion in 2024 to $1.14 billion in 2025, boasting a compound annual growth rate (CAGR) of 7.3%. The growth that was noticeable in the historic period can be traced back to factors such as the tradition and culture of baking, the rise in popularity of packaged and processed foods, the increasing demand for natural and premium quality ingredients, the transformation of the global sweets market, and growth in the drinks industry.Strong expansion is forecasted in the almond extract market over the coming years, with an anticipated growth to $1.48 billion by 2029, representing a compound annual growth rate (CAGR) of 6.9%. This predicted growth during the forecasted period can be credited to the rising demand for natural and organic items, the proliferation of plant-based and vegan diets, expansion in premium and gourmet food sectors, growing usage in beverage creations, and innovation in flavor combinations and profiles. Key trends projected during this period consist of clean-label products, sustainable agriculture techniques, the creation of new flavor blends and pairings, affordable extraction methods, and organic and natural almond extracts.

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How Are Emerging Segments Shaping the Almond Extract Market Landscape?
The almond extract market covered in this report is segmented -

1) By Type: Pure Almond Extract, Mixed Almond Extract
2) By Form: Liquid, Powder
3) By Distribution: Online, Retail, Wholesale
4) By Application: Food And Beverage, Beauty And Personal Care, Hotel And Restaurant, Other Applications

Subsegments:
1) By Pure Almond Extract: Natural Almond Extract, Organic Almond Extract
2) By Mixed Almond Extract: Almond-Vanilla Extract, Almond-Rum Extract, Almond-Chocolate Extract

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Which Growth Factors Are Influencing Almond Extract Market Expansion?
The almond extract market is anticipated to experience an upward trend due to the surge in demand for organic food. Organic food includes items grown and processed without employing synthetic chemicals, pesticides, fertilizers, genetically modified organisms (GMOs), or artificial additives. Higher consumer consciousness towards their health, environmental sustainability, and a growing preference for natural products free from chemicals are key drivers behind the rising demand for organic food. Almond extract, with its natural, robust flavor, enhances the taste of various organic dishes and baked goods without the use of artificial additives, thereby aligning with the ethos of organic food production that emphasizes purity and quality. As an illustration, the Organic Trade Association, a US-based agency safeguarding organic trade, reported that in May 2023, sales of organic food in the USA surpassed $60 billion in 2022 for the first time. The total organic sales, including the non-food items, touched a record $67.6 billion. Additionally, in February 2023, The Organic Research Centre, a UK-based non-profit entity, stated that the income from organic food and beverages production saw a rise from £3.05 billion ($3.88 billion) in 2021 to £3.11 billion ($3.95 billion) in 2022 in the United Kingdom. Hence, the heightened demand for organic food is catalyzing the expansion of the almond extract market.

Who Are the Dominant Players Across Different Almond Extract Market Segments?
Major companies operating 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.

What Are the Latest Developing Trends in the Almond Extract Market?
Leading businesses in the almond extract market are emphasizing on innovation in plant-protein to cater to the increasing demand for healthier, more sustainable, and allergen-free food ingredients and simultaneously improve the nutritional value and flavor of their offerings. Plant-protein is a sort of protein derived from plant sources like legumes, grains, nuts, and seeds, commonly used as a substitute for animal-protein in vegan and vegetarian diets. For instance, in May 2022, Beanbag Superfood, an enterprise based in Bangkok that produces almond extract, introduced a novel Mix Almond Protein product, an innovative plant-protein sourced from almonds. The almond protein is aimed to provide a superior alternative to conventional protein sources, attractive to vegans as well as those seeking to add variety to their protein consumption. This innovation is part of a wider trend promoting healthier eating habits and sustainable food processing.

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Which Geographic Regions Are Expected to Dominate the Almond Extract Market in the Coming Years?
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 the almond extract market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Almond Extract Market?
2. What is the CAGR expected in the Almond Extract Market?
3. What Are the Key Innovations Transforming the Almond Extract Industry?
4. Which Region Is Leading the Almond Extract Market?

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