The Latin America, Middle East and Africa Almond Protein Market would witness market growth of 16.0% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 5,552.1 Tonnes, showcasing a growth of 14.0% (2024-2031).
In this Market, the B2C (Business-to-Consumer) segment plays a significant role in driving demand, as consumers increasingly seek plant-based protein sources for health, wellness, and dietary preferences. This end-use segment primarily includes direct sales of these protein products to individual consumers through retail channels, e-commerce platforms, and specialty health stores. This protein is often marketed to health-conscious buyers, fitness enthusiasts, vegans, and those with dietary restrictions such as gluten or dairy intolerance. Thus, the B2C segment in Brazil market consumed 357.88 Tonnes in 2023.
The Brazil market dominated the LAMEA Almond Protein Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $170.4 million by 2031. The Argentina market is showcasing a CAGR of 16.6% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 15.1% during (2024 - 2031).
Adopting this protein can be attributed to several key factors that align with current consumer preferences and industry trends. The growing awareness of plant-based diets and sustainability is fuelling the rise of this protein. As more people adopt plant-based and flexitarian diets, this protein’s popularity grows. Consumers are becoming more health-conscious, seeking products that offer better nutritional profiles and health benefits. This protein is viewed as a clean, natural source of protein that offers an excellent amino acid profile without the cholesterol and saturated fats found in animal-based proteins.
The environmental impact of food production, particularly the agricultural practices associated with animal farming, has led to a greater push for sustainable alternatives. As a plant-based protein source, almonds require less land, water, and energy than animal agriculture. As the environmental impact of food production becomes a central issue for consumers, companies are increasingly turning to this protein to meet the growing demand for more eco-friendly products.
In Brazil, the food processing sector is a crucial part of the economy, contributing $231 billion in revenues in 2023, or 10.8% of the country’s GDP. Demand for plant-based proteins like almonds is rising as Brazilian consumers grow more health-conscious and look for sustainable dietary options. The country’s food processing industry, which includes more than 38,000 companies, is witnessing a shift toward healthier ingredients, and this protein fits this demand perfectly. This market is experiencing significant growth driven by two emerging trends in key global regions: the booming e-commerce sector in the UAE and the expanding food processing industry in Brazil. E-commerce has emerged as a major force in retail in the United Arab Emirates, with sales rising 53% to $3.9 billion in 2020 and predicted to reach $8 billion by 2025. Therefore, the rising food processing industry and increasing e-commerce sector in the region are driving the market's growth.
Free Valuable Insights: The Worldwide Almond Protein Market is Projected to reach USD 9.4 Billion by 2031, at a CAGR of 14.1%
Based on Type, the market is segmented into Conventional, and Organic. Based on End Use, the market is segmented into B2B (Food & Beverages, Cosmetics & Personal Care, and Supplements), and B2C. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Type (Volume, Tonnes, USD Billion, 2020-2031)
By End Use (Volume, Tonnes, USD Billion, 2020-2031)
By Country (Volume, Tonnes, USD Billion, 2020-2031)
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