Almond Extract Market Size, Share, Growth and Trends, Report 2024-2031

The Global Almond Extract Market reached US$ 1,346 million in 2023 and is expected to reach US$ 1870 million by 2031, growing at a CAGR of 4.3% during the forecast period 2024-2031.

Almond extract has gained popularity in cosmetics due to its beneficial properties for skin and hair, such as moisturizing and strengthening effects. Its growing use in skincare and beauty products reflects its effectiveness in promoting skin health. Additionally, almond extract is a common ingredient in culinary creations, particularly desserts and sweet foods, where its strong, distinctive flavor is used sparingly to enhance taste.

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Key Developments:

• On May 13, 2024, Blue Diamond Growers, a global leader in almond marketing and processing, introduced their latest creation, Ranch Flavored Almonds. These limited-edition almonds offer a bold crunch, flavored with a blend of cool, spicy herbs and spices, making them a crave-worthy snack for ranch lovers.

• Earlier in the year, on February 1, 2024, SunnyGem, a top supplier of California almonds, launched SunnyGem Almond Oil, marking the company's first specialty product available directly to consumers at retail. This launch highlights SunnyGem's move into the retail space with a focus on premium almond-based products.

• In June 2023, Blue Diamond formed a strategic partnership with Brightseed to explore the bioactive compounds in almonds. This collaboration aims to drive innovation in health and wellness while educating consumers about the potential health benefits of almond-based products.

• Additionally, in June 2022, Bajaj Consumer Care expanded its Almond Drops portfolio by launching a moisturizing soap and preparing to introduce new products in haircare and skincare under the Almond Drops brand. This diversification reflects Bajaj's intent to capitalize on the growing demand for almond-based personal care products.

Market Dynamics:

Increasing Awareness About Almond Extract Benefits

• The global almond extract market is witnessing growing demand, driven by several key factors. A primary driver is the increasing consumer awareness of almonds' numerous health benefits, supported by the rise of online distribution channels that make almond-based products more accessible. Almond extract is widely used in cosmetics for its ability to seal in moisture, strengthen hair, and enhance skin health.

• According to the IEIC (China), sweet almond extract scons, which is vegan and halal-certified, serves as a moisturizing, conditioning, and repairing agent in cosmetic formulations. This paraben-free extract is derived from the fruit of Prunus Amygdalus in a medium of propylene glycol, with a plant-to-extract ratio of 1:2. It contains essential carbohydrates and proteins that contribute to improved skin barrier function, benefiting both skin and hair.

• This almond extract is increasingly being incorporated into high-performance skincare products. For instance, Forlle'd, a Japanese cosmeceuticals company specializing in advanced skincare solutions, recently launched the "Hyalogy Dify Cream." This anti-aging product leverages almond extract proteins to rejuvenate mature skin, providing deep hydration and helping the skin retain moisture, making it a valuable addition to the growing demand for almond-based beauty products.

Segment Covered in Almond Extract Market:

By Type: Pure Almond extract, Mixed Almond extract.

By Application: Home, Restaurant, Others.

By Industry Sector: Food & Beverage, Beauty, Personal Care.

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Key players involved in Almond Extract Market:

• Nielsen-Massey Vanillas
• Lochhead Manufacturing Co
• Queen Fine Foods
• McCormick & Company
• Simply Organic
• Beanilla
• Cook Flavoring Company
• Frontier Co-op
• Waitrose
• Olive Nation

*Note:

• Additionally, I wanted to highlight that the full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted.

Regional Analysis:

The Almond Extract Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Almond Extract Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

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