The North America Almond Protein Market would witness market growth of 13.5% CAGR during the forecast period (2024-2031). In the year 2020, the North America market's volume surged to 17,837.5 Tonnes, showcasing a growth of 13.9% (2020-2023).
In this Market, the Conventional type refers to almond protein products that are produced using traditional farming and processing methods, without any specific focus on organic or alternative practices. Conventional almond protein is derived from almonds that are grown using standard agricultural practices, which may include the use of synthetic fertilizers, pesticides, and other chemicals. The processing methods typically involve conventional techniques such as mechanical pressing or extraction to isolate the protein from the almonds. Thus, the Conventional segment in US market consumed 13,448.3 Tonnes in 2023.
The US market dominated the North America Almond Protein Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,532.9 million by 2031. The Canada market is experiencing a CAGR of 16% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 15% during (2024 - 2031).
This market has experienced significant growth in recent years, driven by the increasing demand for plant-based protein sources. As consumers shift toward healthier and more sustainable dietary choices, this protein has become an attractive alternative to animal-based proteins. This market is underpinned by the growing popularity of vegan, vegetarian, and flexitarian diets and a rising awareness of the health benefits of plant-based nutrition.
This protein is a highly versatile ingredient with applications across multiple industries. Its ability to blend seamlessly into various food products, beverages, and health supplements makes it an attractive option for manufacturers seeking to diversify their product offerings. This protein has significant applications in the food and beverage industry, particularly plant-based products.
The rising growth in the Canadian cosmetics sector and the expanding food processing industry in Mexico are expected to significantly influence the growth of this market as both industries increasingly integrate plant-based ingredients into their products. In Canada, the cosmetics sector generated approximately USD 1.24 billion in income in 2021 and is projected to reach USD 1.8 billion by 2024, with an annual growth rate of 1.45%. In Mexico, the food processing industry is experiencing steady growth, with an average yearly growth rate of 4.3%. In 2020, the industry was projected to contribute $39.4 billion to Mexico’s economy, reflecting its importance to the nation’s economic landscape. The demand for protein-rich and plant-based ingredients in Mexico’s food sector is increasing, driven by rising health awareness and dietary shifts. This protein, known for its high nutritional value and versatility, is well-positioned to meet this growing demand in food products such as snacks, beverages, and protein bars. In conclusion, the rising cosmetics sector and rising food processing industry in the region drive the market's growth.
Free Valuable Insights: The Almond Protein Market is Predict 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 U.S., Mexico, Canada, and Rest of North America.
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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