Almond Protein Market - Forecast(2025 - 2031)

Almond Protein Market Overview

The Almond Protein Market size is forecast to reach US$2.2 billion by 2030, growing at a CAGR of 5.6% during the period 2024-2030. Almond protein, derived from almonds, is a plant-based protein source that has gained significant attention due to its health benefits, sustainability, and versatility in various applications. The market's growth is driven by the increasing consumer shift toward plant-based diets, the rising prevalence of lactose intolerance and dairy allergies and growing vegan population. 

A key trend in the market is the demand for sustainable protein. In 2023, almond consumption in Spain, which grew by 32.6% compared to 2022 (from 11.1 million kg to 14.7 million kg), according to data from the Ministry of Agriculture, Fisheries and Food. A large part of this increase is due to the European product, a healthy and sustainable food of Iberian origin, grown in Spain and Portugal, which is quickly becoming a trend. This boom in consumption reinforces the Sustainable EU Almond promotional campaign, co-financed by the EU, that the Spanish Almond Board-Almendrave association and the Portuguese association CNCFS (Centro Nacional de Competências dos Frutos Secos) highlighting the quality and sustainability of almonds. Additionally, advancements in almond protein extraction techniques are improving the quality, flavor, and nutritional profile of these products, further boosting market demand.

Market Snapshot: 

Almond Protein Market - Report Coverage:

The “Almond Protein Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Almond Protein Market.

COVID-19 / Ukraine Crisis - Impact Analysis:  

•    The COVID-19 pandemic disrupted the almond protein market due to supply chain challenges and reduced manufacturing operations. However, increased consumer focus on health and wellness led to a rise in demand for plant-based protein products, including almond protein, driving market growth despite logistical constraints and temporary supply interruptions.

•    The Russia-Ukraine war impacted the almond protein market indirectly by disrupting global agricultural exports and increasing food prices. Higher transportation costs and raw material scarcity affected production. Despite challenges, the demand for plant-based proteins like almond protein persisted due to growing health consciousness and a shift toward sustainable food options.

Key Takeaways

Food & Beverage is the Leading Application 

The food and beverage sector dominates the almond protein market, driven by its extensive use in products like protein bars, smoothies, dairy alternatives and baked goods. Almond protein’s high nutritional value, mild flavor and hypoallergenic properties make it a preferred ingredient for health-focused and plant-based product formulations. In August 2023, PB2 Foods launched two new products available at Kroger stores nationwide. One of the products is PB2 Performance Plant Protein Bars in Chocolate Almond flavor. With 13-15-g of protein per serving and powered by almond powder, the company states that PB2 Performance Plant Protein Bars provide a healthy combination of natural, better-for-you ingredients that deliver on taste. The protein bars are made with 100% gluten-free, vegan, kosher and non-GMO ingredients.  The rising demand for functional and sustainable foods continues to propel almond protein’s adoption in innovative food and beverage applications, meeting the needs of health-conscious consumers worldwide.

Powder form is the largest

The powder form is the largest segment in the almond protein market due to its versatility, longer shelf life and extensive applications in various industries. Almond protein powder is widely used in the food and beverage sector as a plant-based ingredient in protein bars, smoothies, baked goods and dairy alternatives. Its fine texture and solubility make it an ideal choice for manufacturers aiming to enhance the nutritional value of their products without compromising taste or quality. The survey of 725 plant protein powder users, carried out by Brightfield Group in Q1 2023, found that 77% of the respondents who used plant protein powders exercised at least three times a week while 46% of user identified as athletes. The fitness and wellness industry's growing preference for plant-based proteins has also driven the demand for almond protein powder as it offers a rich source of essential nutrients and amino acids. Additionally, consumers seeking clean-label and allergen-free options increasingly favor almond protein powder over traditional sources like whey or soy.

North America Leads the Market

North America leads the almond protein market driven by the region's high awareness of health and nutrition as well as strong demand for plant-based food products. The region has a well-established food and beverage industry that readily adopts innovative and sustainable ingredients such as almond protein. Moreover, the U.S is the largest almond producer and exporter with its Californian almonds, ensuring a steady supply of almonds. The USDA’s annual forecast of almond production in July 2024 was 2.8 billion meat pounds of nuts from California growers this season, a 13% increase from 2023. Additionally, the growing popularity of veganism and plant-based diets among North American consumers has significantly contributed to the market's expansion. Almond protein is widely used in protein supplements, beverages and plant-based dairy alternatives, which are in high demand among fitness enthusiasts and health-conscious consumers. 

Consumer Preference for Clean Label Drives the Market

Consumer preference for clean-label products is a significant driver in the almond protein market. As consumers prioritize transparency and health, they seek minimally processed, non-GMO, and additive-free ingredients. Almond protein, derived naturally and often labeled as organic, aligns perfectly with these expectations. Its compatibility with clean-label formulations has led to its increasing use in plant-based dairy alternatives, protein bars, and functional beverages. According to a survey conducted by the International Food Information Council (IFIC), 26% of consumers report consuming more plant-based proteins post the COVID-19 pandemic. This trend is further amplified by the rising awareness of sustainability, as environmentally conscious consumers opt for eco-friendly protein sources. Manufacturers are leveraging this demand by developing innovative almond protein-based products that cater to health and sustainability-conscious buyers. This shift toward clean-label offerings continues to propel the almond protein market globally.

Rising Prices of Raw Almonds to Hamper the Market

The almond protein market faces significant challenges due to rising almond prices, influenced by climate change and supply chain disruptions. Almond cultivation is highly water-intensive, making it vulnerable to droughts and unpredictable weather patterns. For instance, in 2023, a severe drought in California, the world’s largest almond producer, led to a 15% increase in almond prices, impacting production costs for almond protein-based products. Additionally, supply chain disruptions and rising transportation costs have further strained the market. These price fluctuations pose challenges for manufacturers in maintaining competitive pricing, potentially affecting the affordability and adoption of almond protein products. 

Key Market Players

Global Almond Protein top 10 companies include:
1.    Blue Diamond Growers
2.    Cambridge Commodities
3.    AlmondProtein.ca
4.    Treehouse California Almonds
5.    Harris Woolf Almonds
6.    Bob's Red Mill
7.    Noosh Brands 
8.    PB2 Foods
9.    Ofi (olam food ingredients)
10.    Cook Flavoring Company

Scope of the Report:

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