The almond flour market size is projected to be valued at USD 1.9 billion in 2023 and is expected to reach USD 4.1 billion by 2033. The sales of almond flour are expected to record a significant CAGR of 8.3% during the forecast period.
Various Factors Propelling the Demand for Almond Flour are:
| Attributes | Details |
|---|---|
| Almond Flour Market CAGR | 8.3% |
| Almond Flour Market Valuation (2023) | USD 1.9 billion |
| Almond Flour Market Valuation (2033) | USD 4.1 billion |
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 8.2% |
| H1,2022 Projected (P) | 8.3% |
| H1,2022 Outlook (O) | 9.1% |
| BPS Change: H1,2022 (O) - H1,2022 (P) | (+) 83 ↑ |
| BPS Change: H1,2022 (O) - H1,2021 (A) | (+) 93.1 ↑ |
FMI provides a half-yearly comparison analysis and review of the worldwide market's growth rates and its future development potential. Due to its low carbohydrate, high vitamin, and sweeter flavor, almond flour is a well-liked alternative to traditional wheat flour.
Almond flour is a rich source of nutrients, vitamins, and minerals. It is frequently used as a main ingredient in various products, including baked goods, sweets, and cosmetics. In 2019, more than one-third of the market for almond flour was made up of blanched almond flour. Many products on the market contain almond flour, including cookies, bread, cakes, pastries, and related goods. Products made with almond flour are very popular in the market since they preserve many important nutrients. As consumer preferences and awareness about the health benefits of almond products change, the demand for goods made with almond flour keeps rising. The growing popularity of gluten-free diets among consumers and stricter restrictions also support the demand for processing technology.
People's changing lifestyles and consumer preferences toward using almond flour in various baked products with varying flavors propel market expansion.
The baking industry has had a big impact on the market. An increase in consumers' preference for cereals over baked items like bread, cookies, and rolls that include high levels of proteins, fiber, vitamins, minerals, and carbs. Oat flour, wheat flour, rice flour, and other grains are illustrations of these cereals. This is expected to hinder the growth of the market for almond flour.
Recent Developments:
Blanched almond flour accounted for over one-third of the market share in 2021. Almond flour is vital in various applications, including bread, confectionery, and cosmetics. Almond flour cookies, bread, pastries, and other products made with functional flour are readily available in the market across the globe.
Products made with almond flour preserve many essential nutrients, and as a result, they are becoming well-liked, especially among health-conscious consumers. Also, there is a rising demand for paleo, keto, and gluten-free options, which is expected to be profitable for businesses in the market. Online sales of almond flour have increased significantly during the past few years.
Consumer preferences are shifting toward spending on products that are right for them due to the growing clean-label trend. This is a trend that refers to eating foods that are high in nutrients. For example, the nutritional profile of almond flour has led it to be accepted as a clean-label component.
The demand for almond flour and related products is rising as consumers become more aware of the health benefits of clean-label flour. It is considered an easy replacement for regular flour because of its high fiber content and high levels of vitamins, minerals, and antioxidants.
End-products like almond flour bread and almond flour cookies, consumed by the general population in good quantities, incentivize consumers to switch from other flour-based products. However, the specialty retail business is expected to have erratic growth due to macroeconomic variables such as consumer spending and increasing disposable income.
As the working population grows, so does the need for ready-to-eat foods containing nut flour. The growing number of people with gluten sensitivity and allergies helps build the almond flour industry and ensures that the price of almond flour is kept low.
Variations in demand, production volume, and tariff regulations in the locations where the majority of the output is produced are the main factors influencing almond flour price volatility. Due to the very seasonal nature of almonds, raw material price changes are common and have a substantial negative influence on firms' bottom lines.
The supply chain for almonds includes procurement, pre-export processing, packing, transportation, post-export processing, and storage. Any stage in the supply chain can get contaminated with almonds, processed or unprocessed. Contaminants could be present in the supply chain due to different phases of development, processing, packaging, transit, or storage that significantly impact the cost of almond flour.
Germany was estimated to be the world's significant market in terms of region. Given their health benefits, almond-based snacks are becoming increasingly popular in the region. The rise in demand for high-nutritional food, as well as the concerns of a sizable population with a high obesity rate, have been some of the primary drivers of this market's expansion in recent years. The region's rising demand for natural and low-sugar ingredients also propels the almond ingredients market in Europe.
| Germany Market Size (USD million/billion ) by 2033 | USD 408.6 million |
|---|---|
| Germany Market Absolute Dollar Growth (USD million/billion) | USD 254.3 million |
| CAGR % 2018 to 2022 | 8.4% |
| CAGR % from 2023 to 2033 | 10.2% |
The United States is one of the major producers and exporters of almonds and items connected to almonds to both developed and developing nations in the region, producing more than 80% of the world's almonds, according to the United States Department of Agriculture. It is a significant prospective market for almond flour producers since significant manufacturers can sell almond flour at competitive pricing owing to the year-round availability of high-quality raw materials at affordable rates.
| The United States Market Size (USD million /billion) by 2033 | USD 1.0 billion |
|---|---|
| The United States Market Absolute Dollar Growth (USD million/billion) | USD 577.0 million |
| CAGR % Value From 2018 to 2022 | 8.0% |
| CAGR % Value From 2023 to 2033 | 8.5% |
China has a significant market share in Asia Pacific, with a total revenue of USD 120.4 million. The industry is expected to expand due to increased acceptance of the western lifestyle and disposable income. As middle-income groups have grown wealthier, personalized bakery products such as cakes and pastries, cookies, and other baked goods have become popular. Baked food consumption in China rapidly increases due to rising living standards and economic growth. In addition, concerns about health and the rising demand for nutrition products among young people are expected to drive demand soon.
| China Market Size (USD million /billion) by 2033 | USD 326.1 Million |
|---|---|
| China Market Absolute Dollar Growth (USD million/billion) | USD 183.9 Million |
| CAGR % Value From 2018 to 2022 | 8.3% |
| CAGR % Value From 2023 to 2033 | 8.7% |
Blanched almond flour has been the most popular choice of almond flour among consumers due to rising global demand for bakery and confectionery products, as well as a rise in market demand for high-protein bakery products. The blanched variety has a light color and is ideal for use in cakes, muffins, and recipes. Therefore, confectionery product demand is expected to drive blanched almond flour demand during the forecast period.
| Form | Blanched |
|---|---|
| CAGR % From 2018 to 2022 | 8.1% |
| CAGR % From 2023 to 2033 | 8.9% |
Almonds that have been blanched, stripped of their peel, and ground into a powder are typically used to make almond flour. As a result, the majority of industry players in the food and beverage, bakery, and other sectors deliver products using standard almond flour. Whole almond and grain flour are considered more nutritious than conventional almond flour. It also aids in weight loss and inflammation reduction.
Given its benefits to consumers and producers, including price and availability, conventional farming is one of the most popular and preferred farming methods. Due to their low production costs, conventional farmers produce crops in considerable quantities and then sell them to consumers at lower prices. The expanding bakery sector and rising chocolate and confectionary production drive conventional almond flour demand.
From 2023 to 2033, the cosmetics segment is expected to record a CAGR of 8.7%. Almond flour is often milled and can be used in various applications. It is increasingly employed as a gentle exfoliating ingredient in cosmetics and personal care formulations, which is projected to drive market growth in the future.
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.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Billion for Value |
| Key Countries Covered | United States, Canada, Germany, United States, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Türkiye, Northern Africa, and South Africa |
| Key Segments Covered | Form, Nature, End-Use, Distribution Channel, Region |
| Key Companies Profiled | 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 |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
A valuation of USD 1.9 billion is attributed to the almond flour market in 2023.
The global almond flour market size is anticipated to surpass USD 4.1 billion by 2033.
The almond flour market is projected to accelerate at a CAGR of 8.3% between 2023 and 2033.
The United States provides a lucrative almond flour market with about USD 1.0 billion in market revenue by 2033, propelled by the growing consumer preference for gluten-free and healthier alternatives.
Blanched almond flour, driven by global bakery demand and high-protein product trends, leads with an 8.9% CAGR through 2033.
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Almond Flour Market
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