Almond flour market expects to increase at an 8.3% CAGR to reach US$ 4.1 billion by 2033 from $1.9 billion in 2023. Its rise is linked to the global food sectors’ increasing demand for gluten-free products as a result of diseases like celiac disease becoming more common.
The market for almond flour is anticipated to be worth US$ 1.9 billion in 2023 and US$ 4.1 billion by 2033. Over the course of the projected period, almond flour sales are anticipated to grow at a noteworthy rate of 8.3%.
Globally, consumer preferences are shifting quickly as per capita earnings and living standards rise. The benefits of eating products made with almond flour are the main reason the industry is growing. The growing popularity of gluten-free diets around the world is fueling industry growth. This is due to the rising prevalence of celiac disease, which can result in a wide range of symptoms include anemia, growth problems, bloating, gas, and diarrhea. Almond flour is widely used worldwide in the Food and Beverage (F&B) industry to produce baked items such as bread, cakes, cookies, and pastries.
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This, combined with rising product employment in the personal care industry for creating various skin care products such as lotion and cream, results in a positive market outlook.
Additional factors that are expected to drive the industry include the rising incidence of lactose intolerance and the easier availability of dairy-free products. This is helping to increase the industry together with the increasing trend of buying almond flour through online distribution channels, which provide easy access to the product, extensive catalogues, and quick shipping options. Long-term marketing initiatives and celebrity endorsements by product producers on social media platforms are also anticipated to have a favourable effect on almond flour sales in the coming years.
Key Takeaways from the Almond Flour Market
- With a projected 8.9% growth rate from 2023 to 2033, the category of blanched almond flour provided more than three-fifths of the market share for almond flour globally. The demand for blanched almond flour is progressively rising in developed countries, driving the segment growth. It is employed worldwide in various bakery goods, confectioneries, and hair and skin care products. The cosmetics industry is anticipated record a CAGR of 8.7%. Almond flour is frequently milled and can be used in various ways. It is becoming more popular as a gentle exfoliating ingredient in cosmetics and personal care formulations, expected to drive market growth in the coming years.
- The United States dominates global almond production, accounting for more than 80% of the total crop and generating an estimated US$ 1.0 billion in revenue in 2023. Since California is the world’s leading producer and exporter of almonds, the industry is highly concentrated and reliant on a single region. The amount of rain that falls during the bloom period significantly impacts almond production.
- The United Kingdom has a significant market share in Europe for almond flour, with a CAGR of 8.7%. Consumer preference for cooking at home instead of dining out, coupled with the on-the-go convenience trend, has fueled the growth of the country’s almond flour industry.
- With a revenue of US$ 70.8 million in 2021, India is one of the world’s significant almond flour industry. A considerable population increased urbanization, and an expanding middle-class population is driving the market. In addition, the market is progressing due to the increased number of participants who have the opportunity and consumer health consciousness, particularly in urban regions.
Competitive Landscape:
Companies are maintaining a competitive position in the market by pursuing inorganic growth strategies, such as partnerships, geographical expansion, and mergers & acquisitions.
Archer Daniels Midland Company, Olam International Limited, Barry Callebaut Group, Blue Diamond Growers, John B. Sanfilippo & Son, Borges Agricultural & Industrial Nuts, Savencia SA, Kanegrade Limited, Royal Nut Company, and Döhler GmbH are among the key players in the almond ingredients market. To meet the growing demand for almond ingredients, market players have adopted various business strategies such as expansions, new product launches, agreements, partnerships, collaborations, and acquisitions in recent years.
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Almond Flour Market
By End Use:
- Household
- Food and Beverage
- Industrial
- Cosmetics
- Dietary Supplements
- Others
By Form:
- Blanched
- Natural
By Nature:
- Organic
- Conventional
By Distribution Channel:
- Direct
- Indirect
- Pharmacy Stores
- E-retailers
- Specialty stores
- Supermarkets
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa (MEA)
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