The fruit of an almond is a drupe which consists of an outer hull and a hard shell covering the seed or kernel. The process of removal of the shell of an almond is termed shelling, and the almonds are sold shelled or unshelled. There are two types of almonds. Sweet and bitter tasting almonds. They are consumed directly or used in sweets and confectionary. Almond Kernels are also used in cosmetics.
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Global Almond Kernels Market was worth USD XX million in 2018 and estimated to be growing at a CAGR of XX%, to reach USD XX million by 2023. Almond Kernels are type nuts that are beneficiary for health.
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Primary factors accounted for driving the market are increasing awareness regarding the health benefits and uses of functional and fortified foods, increasing use in skin care cosmetics and increasing consumption by health conscious individuals. However, factors like expensive prices, cultivating complexities and health issues regarding excessive consumption are hindering the growth of the market.
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The Global market for Almond Kernels is segmented based on Type and Application. Based on Type it is divided into Sweet Type and Bitter Type. Based on Application it is divided into Food and Beverages, Pharmaceuticals, Cosmetics and Others. Based on geographical analysis, the market is divided into regions of North America, Latin America, Europe, Middle East and Africa and Asia Pacific. North America holds the major share in the market due to presence of market leaders as well as a sophisticated food industry and almond’s extensive use in food products. Asia Pacific is the fastest growing region due to increasing demand and product innovation and increasing disposable income. Based on Application Food application is the most widespread due to increasing demand for fortified and functional foods while pharmaceutical segment is expected to grow the fastest due to increasing expenditure on drug discovery and development. Based on Type Sweet Almonds are mostly preferred for food and beverage purposes.
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Some of the key players dominating this market include Malyata Apricot, Chitree, Wani Fruit, Royal Rifco, The Raw Chocolate, Hebei Longwangmao, Hebei Yongdeheng, Swanson, Hunza Apricot Kernels, Yesraj Enterprises.
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