Almond Extract Market Outlook – 2028
Almond extract is a concentrated condensed liquid that is extracted from almond oil combining with ethyl, and is used as a flavoring agent in the food & beverage industry. Ethyl alcohol in almond extract helps to create a stable flavoring agent that lasts for a longer period. As categorized by the U.S. Food & Drug Administration, almond is distinguished as “pure extract” and “natural extract.” The major difference between the extracts is pure almond extract is made from bitter almonds, whereas natural almond extract is made from caccia bark. Almond extract is widely applicable across bakeries and confectionaries in baking almond-flavored cookies and adding almond flavor to cakes and pastries. In addition, almond extracts are widely used by the cosmetic industry, as almonds provide nutrients to the hair and it has high moisturizing properties.
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COVID-19 Scenario Analysis
The outbreak of COVID-19 has negatively impactedthe hospitality & restaurant sector, as restrictions were imposed on the movement of people, which has indirectly hit the demand for almond extract from the hotel sector. However, rise in demand for packaged food & beverages has increased the demand for almond extract from food processing units.
Manufacturers have been facing problems in getting labor supply and transportation of raw materials, but with a partial list of restrictions for food & staples, the industry is ready to boost for new highs.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Surge in use of almond extract by the food & beverage industry as a flavoring agent and high demand from hotels & restaurants, bakeries & confectionaries for added flavors in cookies & cakes boostthe demand for almond extract. Moreover, the use of almond extract by the cosmetic industry due to its moisturizing properties, hair & skincare benefits, and wide use of the almond extract to flavor sweet dishes & desserts are the factors driving the global almond extract market. However, allergies caused by almonds and high prices of almonds & its extraction are the major constraints of the market. Conversely, innovation by market leaders is related to research on improved varieties of almond with lesser perishability and low-cost extraction process.
Surge in usage by the cosmetic industry
Beauty & personal care manufacturers have found new & advanced utilization of almond extract in their skin & hair care ingredients. The use of almond extract in the cometic has proved to moisturize the skin for a prolonged period and reduce the sign of aging. Forlle’d is a Japanese cosmeceuticals companies that manufacture skincare products for anti-aging and skin restructuring. Forlle’d has found almond extract protein when applied to skin provide a significant reduction in depth and number of wrinkles and smoothen them. “Hyalogy Lift Cream” by Forlle’d that contains almond extract proteins helps in reducing the wrinkles on the face, increases the elasticity of facial skin, and prevents the corneal layer shear stress.
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Key Benefits of the Report
This study presents the analytical depiction of the global almond extract industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global almond extract market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global almond extract market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global almond extract market analysis depending on competitive intensity and how the competition will take shape in coming years.
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Questions Answered in the Almond Extract Market Research Report:
Which are the leading players active in the almond extract market?
What are the current trends that will influence the market in the next few years?
What are the driving factors, restraints, and opportunities of the market?
What future projections would help in taking further strategic steps?
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