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Almonds Are No. 1 Nut in New Product Launches
October 22, 2013
2 Min Read
MODESTO, Calif.New product launches for almonds have grown 148% since 2005, making them the No. 1 nut in new food products globally and the nut consumed most often as an ingredient in chocolate, cereals and bakery items, according to new research by Innova Market Insights.
Almond product introductions grew faster in 2012 (9.7%) than all food (5.3%) and nut (7.1%) introductions. On a global scale, almonds maintain a significant share of new nut introductions (36%), and have seen double-digit growth in Europe (45%), Asia-Pacific (26%) and North America (15%).
Almonds unique flavor profile and wholesome appeal resulted in increased global almond introductions in key volume-driving categories: snacks (24% over 2011); cereals (13%); and desserts and ice cream (11%). Almonds product launches in the snack category greatly outpaces all new nut introductions (13%).
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, Innova Market Insights. Weve seen a substantial global increase in the number of almond snacks in the past year, highlighting exotic flavor and texture combinations, and a lot of crunch that consumers crave."
Particular consumer demand was seen in almond chocolate introductions which have grown 113% in the last five years (2007 to 2012). 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 No. 1 ingredient to include in the "ideal" chocolate bar.
According to the Sterling-Rice Groups Global Perceptions Study conducted in 2013, there are a variety of reasons consumers prefer almonds:
Globally, 75% of respondents associate almonds with being natural, great tasting and nutritious.
Almonds are the nut most associated with confectionery and bakery, with more than 25% of respondents selecting almonds for each category.
Nearly half (47%) of consumers worldwide report a willingness to pay more for product containing almonds.
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