SAN FRANCISCO, June 26, 2019 /PRNewswire/ -- 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.
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.
Key suggestions from the report:
- 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.
Read 100 page research report with TOC on "Almond Protein Market Size, Share & Trends Analysis Report By Application (Beverages, Bakery & Confectionery, Personal Care), By Distribution Channel, By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/almond-protein-market
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.
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)
- Bakery & Confectionery
- Personal Care
- Almond Protein Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
- Convenience Stores
- Supermarket & Hypermarket
- Almond Protein Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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