Market for almonds grows
New research by Innova Market Insights has revealed the increasingly important role of nuts in new food products worldwide – use has increased by 148 per cent since 2005 (2012 Global New Product Introductions Report, Innova Market Insights, June 2013).
In fact, consumers worldwide report that almonds are the nut they eat most often as an ingredient in other foods such as chocolate, cereals and bakery items – and manufacturers have taken notice (Sterling-Rice Group Global Perceptions Study, 2013).
According to Innova’s research, almond product introductions globally grew faster in 2012 (9.7 per cent) than all food (5.3 per cent) and nut (7.1 per cent) introductions. In Europe almond introductions (from 2011–2012) increased by 24 per cent; versus nuts at 19 per cent and food at 13 per cent. Europe continues to be the leading region for almond introductions, with a share of 45 per cent of global introductions. The growth in almond introductions in Europe outpaced the top five nuts, with almonds included in 37 per cent of all nut introductions in the region (2012 Global New Product Introductions Report, Innova Market Insights, June 2013).
Innova’s research shows that the unique attributes of almonds are helping fuel this increase in new products. More and more, manufacturers are leveraging origin, texture and nutritional profile of almonds directly on product labels to up the consumer appeal. Descriptors such as “almond crunch” and “California-grown” are more commonly appearing on new product labels, differentiating themselves from competitors and contributing to almonds maintaining the top spot among other nuts.
“Snacks are a hot category when it comes to innovation, and almonds continue to be a popular ingredient choice for global product developers,” said Lu Ann Williams, head of research at Innova Market Insights. “We’ve seen a substantial global increase in the number of almond snacks in the past year, highlighting exotic flavour and texture combinations, and a lot of crunch that consumers crave.”
Whether it’s the satisfying crunch, versatility or nutritional profile, consumers want new products that include almonds. The Almond Board of California’s Global Perception study (2013) queried consumers worldwide and discovered what they really think about almonds:
globally, 75 per cent of respondents associate almonds with being natural, great tasting and nutritious
globally, almonds are the nut most associated with confectionery and bakery, with more than 25% of respondents selecting almonds for each category
nearly half (47 per cent) of consumers worldwide report a willingness to pay more for a product containing almonds (Sterling-Rice Group Global Perceptions Study, 2013).
“Consumers are looking for products that are natural and healthy but also fit with their increasingly busy and on-the-go lives,” said Kate Thomson, director, Insights and Strategy for Sterling-Rice Group. “Our consumer research shows that almonds’ nutritional profile and portability really fit the bill.”
And what consumers want, manufacturers want to deliver: the unique flavor profile and wholesome appeal of almonds resulted in increased global almond introductions in key volume-driving categories, including confectionery (40 per cent), bakery (23 per cent), snacks (12 per cent), cereals (13 per cent) and desserts and ice cream (six per cent). The growth in snack products is especially significant in that it greatly outpaces all new nut introductions (13 per cent) in this category (2012 Global New Product Introductions Report, Innova Market Insights, June 2013).
This growth trend also mirrors consumer demand in these categories (Sterling-Rice Group Global Perceptions Study, 2013), particularly in almond chocolate introductions, which have grown a staggering 113 per cent in the past five years (2007 to 2012) (2012 Global New Product Introductions Report, Innova Market Insights, June 2013). Further research revealed that two-thirds of consumers worldwide stated they are more likely to buy chocolate with almonds than without; consumers also choose almonds as the number one ingredient to include in their ideal chocolate bar (Sterling-Rice Group Global Chocolate Study, 2013). Clearly, almonds and chocolate make a perfect, tasty pair.
“Such positive association coupled with growing global demand underscores a huge opportunity to innovate with the nut that consumers continue to choose for nutrition and taste,” said John Talbot, vice president, global market development, at Almond Board of California. “The almond industry invests in research that helps us continually improve measures of safety and sustainability, resulting in a strong and stable supply year over year. Product manufacturers can remain confident that California Almonds are an ideal ingredient for wide-ranging product innovation.”
