The new report by Expert Market Research titled, ‘Global Almond Flour Market Share, Size, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global almond flour price, assessing the market based on its segments like applications, manufacturing process and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 1111.38 million
- Forecast CAGR (2023-2028): 9.20%
- Forecast Market Size (2028): USD 1885.29 million
Almond flour is a popular alternative to regular flour because of its low glycemic index, low carb content, and nutritional value. The rising confectionery, food, and bakery industries and the development of the bread industry will fuel the demand for almond flour over the forecast period. People in metropolitan areas are more receptive to new ingredients in their meals.
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Therefore, almond flour’s market expansion is aided by increased urbanization and rising living standards. Furthermore, people’s rising concern for their health and popular diets drive them to prefer foods that are excellent for their health in the short and long term, leading to a shift to almond flour.
Additionally, people are seeking healthier alternatives to unhealthy foods. The increased demand for almond flour in other industries such as cosmetics will also aid the global almond flour market to grow during the forecast period.
Almond Flour Industry Definition and Major Segments
Almond flour is formed from pulverized sweet almonds, which are then processed into a variety of forms depending on their application in the food and beverage industry. There are two varieties of almond flour: ultra-fine blanched and fine natural. Almond flour is high in vitamin E, vitamin A, vitamin B, minerals, omega fatty acids, protein, and other nutrients.
Almond flour is made from ground almonds that have been sieved to specific particle size. It’s mostly created using blanched almonds that don’t have any brown skin specks. It’s the most popular nut, and it’s frequently used to make high-end pastries, cookies, and sweet treats like almond macaroons.
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By type, the market is divided into:
By application, the market is divided into:
By end-use, the market is divided into:
By distribution channel, the market is divided into:
By region, the industry is categorized into:
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
Almond Flour Market Trends
Owing to its positive properties, such as being high in omega-3 fatty acids, vitamins, and other nutrients, almond flour is becoming more popular in the bread and confectionery industries. Almond flour has a better consistency and produces similar results when compared to wheat flour. Almond flour is a healthier substitute for wheat flour that can be used to produce cakes, pastries, cookies, and other bakery items.
The desire for innovative cakes is expected to drive market expansion for almond flour. The price barrier is the most significant impediment to the almond flour industry’s growth, as it is a costly flour when compared to other alternatives on the market. Almond flour is used in a wide range of products, including cosmetics, lotions, oils, and everyday items. Furthermore, paleo dieters favour almond flour and milk since they have a low carb content. In the long run, growing living standards are expected to increase demand for derived products, supporting market growth.
North America dominated the almond flour market, and the region is predicted to continue to grow in the global almond flour market over the forecast period. Because of the rising consumption of almond flour in North America and increased production of almonds and associated products. The North American market in the region is predicted to receive a lot of attention throughout the forecast period.
The fastest-growing area is predicted to be Asia-Pacific. The growth in the Asia Pacific is due to the establishment of new food processing and bakery businesses and considerable advancements in almond-derived products. The almond flour market in Europe is being driven by the region’s increased demand for natural and low-sugar products.
Key Market Players
The major players in the market are Almondco Australia Ltd., Cargill Incorporated, Barney Butter, Blue Diamond Growers, Bob’s Red Mill Natural Foods, Oleander Bio, SA, among Others.
The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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