Almond flour market anticipates hitting US$ 4.1 billion by 2033 from $1.9 billion in 2023, growing at an 8.3% CAGR. Its surge is linked to the growing need in the food industry for gluten-free products as a result of illnesses like celiac disease becoming more common.
The market for almond flour is anticipated to be worth US$ 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%.
Consumer tastes are shifting quickly as per capita incomes and living standards rise globally. The benefits of eating products made with almond flour are the main reason the industry is growing. Globally, the popularity of gluten-free diets is rising, which is driving industry expansion. This is due to the rising prevalence of celiac disease, which can result in a wide range of symptoms like anaemia, growth problems, bloating, gas, and diarrhoea. The Food and Beverage (F&B) business uses almond flour extensively all over the world to manufacture baked goods like bread, cakes, cookies, and pastries.
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The global almond flour market is poised for remarkable growth, with projections indicating a surge from $1.9 billion in 2023 to an impressive $4.1 billion by 2033, at a robust CAGR of 8.3%. This exponential rise is attributed to the escalating demand for gluten-free products, propelled by the increasing prevalence of conditions like celiac disease. Almond flour, a key player in the gluten-free market, is witnessing heightened usage across various global food industries, particularly in the production of baked goods such as cakes, cookies, bread, and pastries.
As living standards and per capita incomes improve globally, consumer preferences are rapidly evolving. The sector’s expansion is primarily fueled by the myriad benefits associated with almond flour consumption. The burgeoning popularity of gluten-free diets worldwide, driven by the rising occurrence of celiac disease, is a significant factor contributing to the industry’s growth. In addition to its widespread application in the Food and Beverage (F&B) industry, almond flour is making inroads into the personal care industry, being used in the formulation of skincare products like lotions and creams.
Several factors are anticipated to propel the sector further, including the growing prevalence of lactose intolerance, increased accessibility to dairy-free products, and a rising inclination towards online distribution channels. Online platforms offer convenient product availability, extensive catalogs, and swift shipping alternatives, contributing significantly to sector growth. Moreover, in the coming years, prolonged promotional campaigns and celebrity endorsements on social media platforms are expected to positively impact almond flour sales.
Key Takeaways from the Almond Flour Market:
- Blanched Almond Flour Dominates: The category of blanched almond flour is expected to lead the market with a projected growth rate of 8.9% from 2023 to 2033. It currently holds more than three-fifths of the market share globally, driven by increasing demand in developed countries.
- Global Almond Production: The United States dominates global almond production, accounting for over 80% of the total crop and generating an estimated $1.0 billion in revenue in 2023. California, as the world’s leading producer and exporter of almonds, plays a crucial role in the industry.
- Growing UK Market: The United Kingdom holds a significant market share in Europe for almond flour, experiencing a CAGR of 8.7%. The preference for home cooking and on-the-go convenience trends are fueling the growth of the country’s almond flour industry.
- Rising Indian Market: India, with a revenue of $70.8 million in 2021, is a significant player in the global almond flour industry. Factors such as a growing urban population, an expanding middle class, and increased consumer health consciousness are driving market growth.
Key Points of Market Dynamics:
- Competitive Landscape: Companies in the market are adopting inorganic growth strategies, including partnerships, geographical expansion, mergers & acquisitions. Key players include Archer Daniels Midland Company, Olam International Limited, Barry Callebaut Group, Blue Diamond Growers, and others.
- Diverse End Uses: Almond flour finds applications in various end-use categories, including households, Food and Beverage, industrial use, cosmetics, dietary supplements, and more.
- Forms and Nature of Almond Flour: Blanched and natural forms, along with organic and conventional varieties, offer diverse choices for consumers.
- Distribution Channels: Direct and indirect channels, including pharmacy stores, e-retailers, specialty stores, and supermarkets, contribute to the widespread availability of almond flour.
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.
Other factors are anticipated to propel the sector, including the increased prevalence of lactose intolerance and the simpler accessibility of dairy-free products. Along with the growing tendency to purchase almond flour through online distribution channels, which offer simple product availability, wide catalogs, and speedy shipping alternatives, this is assisting in boosting the sector. Furthermore, in the upcoming years, protracted promotional campaigns and celebrity endorsements by product manufacturers on social media platforms are likely to positively impact almond flour sales.
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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.
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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