Global Almond Flour Market is Expanding at an Astounding CAGR of 7.8 %

Introduction

The Global Market for Almond Flour was valued at USD 1.24 billion in 2022 and is projected to reach USD 2.44 billion by 2031, with a CAGR of 7.8 % during the forecast period 2023–2031.

Almond flour is a popular alternative to traditional wheat flour due to its low carbohydrate content, high nutrient content, and slightly sweeter flavor. Almond flour is an excellent source of vitamins, minerals, protein, and nutrients. Almond flour is made from ground almonds, which has multiple health benefits. Almond flour is gluten-free, calorically dense, and a rich source of, among other nutrients, vitamin E, vitamin B, vitamin A, minerals, omega fatty acids, and protein. In addition, almond products have numerous applications in the bakery, confectionery, and cosmetics industries.

Market Dynamics

Increase in Demand for Almond Flour in Developing Nations Drives the Market Growth

The International Trade Center (ITC) reports that developing nations such as the United States, Germany, India, Spain, Italy, and Turkey consume more almond flour today than three years ago. People in other emerging nations, such as China, South Korea, and the United Arab Emirates, are also becoming aware of the health benefits of almond flour and its products and, as a result, incorporating it into bakery and confectionary items. Asia's almond consumption has increased in recent years, and as a result, developing nations are anticipated to drive market expansion. These factors indicate an increase in demand for almond flour in developing countries during the analysis period and represent a significant opportunity for market growth.

An increase in Investments by Small-&Mid-Sized Food Product Manufacturing Companies Creates Lucrative Opportunities for Market Growth

The almond flour market is a niche market, which creates opportunities for small-&mid-sized companies to invest in this market. As the diversified players that dominate the food industry have limited presence, stakeholders are planning to invest and expand their business by innovating new products. Thus, small and medium enterprises (SMEs) can take advantage of premium-priced almond flour products. Furthermore, several companies are entirely dedicated to producing and selling almond flour products. Moreover, this innovative processing technology in the facility provides the highest quality almonds and its products to customers and consumers globally. Thus, such factors create an opportunity to gain major traction in the coming years.

Regional Analysis

Based on geography, Global Almond Flour Market has been segmented into North America, Europe, Asia Pacific, and LAMEA.

The North American almond flour market is being researched in the United States, Canada, and Mexico. North America is a mature market with high packaged goods penetration. The demand for natural almond flour products has risen dramatically in recent years, owing to a shift in consumer preferences toward food made with natural ingredients. Consumers in the region are increasingly adopting a healthy lifestyle, driving up demand for almond flour in bakeries, confectioneries, cosmetics, and other products.

The European market is being studied in Germany, France, the United Kingdom, Italy, Spain, and the rest of Europe. Consumption of almond flour is increasing significantly in Europe, owing to increased consumer awareness of the health benefits of almond flour. With increased disposable income, consumer demand for almond flour products is increasing, boosting demand for various types of almond flour products in the region.

China, Japan, India, Australia, South Korea, and the rest of Asia-Pacific are all being studied for the Asia-Pacific almond flour market. The Asia-Pacific market is expected to grow at an 8.50% CAGR during the forecast period, owing to increased demand for bakery and confectionery food products and increased consumer awareness of clean-label products and healthy ingredients.

Brazil, the United Arab Emirates, Saudi Arabia, Turkey, and the rest of LAMEA are all studying the LAMEA market. During the forecast period, consumption of almond flour in the LAMEA region is expected to grow at a significant rate of 8.2%.

Key Highlights

• The value of The Global Market for Almond Flour was USD 1.24 billion in 2022 and is projected to reach USD 44 billion by 2031, expanding at a CAGR of 7.8 % from 2023 to 2031.
• The Global Almond Flour Market is segmented based on Type, Application, End-use, and Sales channel.
• By Type, the market is bifurcated into natural and blanched almond flour.
• By Application, the market is categorized into bakery, confectionery, cosmetics, and others.
• By End-use, the market is bifurcated into commercial and household.
• By Sales channel, the market is bifurcated into online and offline.
• On the basis of Geography, the market has been segmented into North America, Europe, Asia Pacific, and LAMEA.

Competitive Players

Competitive Player

Rolling Hills Nut Company, Blue Diamond Growers, Hodgson Mill, TREEHOUSE ALMONDS, Bob’s Red Mill Natural Foods, Oleander Bio SA, SHILOH FARMS, King Arthur Flour Company, Inc, Anthony's Goods, Barney Butter

Recent Developments

Market News

• In November 2022, Blue Diamond Introduces New Limited-Edition Snickerdoodle and Peppermint Cocoa Flavored Almonds for the Holidays.
• In October 2019, Olam International acquired Hughson Nut Inc., a California-based almond ingredient processor and producer, along with its real estate assets for USD 54 million. Due to the acquisition, Olam International was able to increase its almond ingredient capacity, and by leveraging Hughson Nut's manufacturing expertise, it will be able to target new customers in the food segment, manufacturing, and e-commerce.

Segmentation

Global Almond Flour Market Segmentation

By Type

• Natural Almond Flour
• Blanched Almond Flour

By Application

• Bakery
• Confectionery
• Cosmetics
• Others

By End Use

• Commercial
• Household

 By Sales Channel

• Online
• Offline

By Region

North America

• The U.S.
• Canada
• Mexico

Europe

• Germany
• France
• The U.K.
• Italy
• Spain
• Netherlands
• Russia
• The Rest of Europe

Asia-Pacific

• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Malaysia
• Singapore
• Vietnam

Central and South America and the Caribbean

• Brazil
• Argentina
• Colombia
• The Rest of Central and South America and the Caribbean

The Middle East

• Saudi Arabia
• The UAE
• Oman
• Bahrain
• The Rest of the Middle East

Africa

• Nigeria
• South Africa
• Ghana
• Tanzania
• The Rest of Africa