Almond paste is made from ground almonds or almond meal and sugar in equal quantities, with small amounts of cooking oil, beaten eggs, heavy cream or corn syrup added as a binder. It is similar to marzipan (Wikipedia, nd).
Almond paste contains almonds, so if you ingest something containing almond paste an allergic reaction may occur. Additionally, almond paste may contain other ingredients such as eggs, so check the ingredients if ingesting something containing almond paste
Almond paste is used as a filling in pastries, but it can also be found in chocolates and other baked goods (Wikipedia, nd).
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Here is how to make your own almond paste at home!