VALLEY COTTAGE, N.Y. – As consumers are on the journey of exploring natural and beneficial food ingredients, almond flour has been garnering significant traction. Subsequently, manufacturers are expanding their production capacities for almond flour products. The global almond flour market size is expected to grow at a CAGR of 8.3% during a 10-year forecast period and account for revenues worth US$ 2.7 Bn by 2029, according to Future Market Insights (FMI).
“Almond flour continues to play a significant role within snacks category with influential millennials inclining towards healthier options for meal replacement. As food manufacturers increasingly leverage almond flour as key ingredient for innovative products, the market is expected to grow on an upward trajectory,” says FMI analyst.
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Gluten-Free Trend: Evolving, Improving, and Still Growing
Almond flour is finding increasing applications in gluten-free baked goods and breads, amid the rise of gluten intolerance among a growing number of consumers. In recent times, manufactures are focusing on using almond flour and other health-benefiting ingredients in development of various gluten-free products that focus on convenience, such as grab-and-go snacks and bars. For instance, in September 2019, Simple Mills expanded its product portfolio with the launch of Simple Mill Soft-Baked Almond Flour Bars. Moreover, as consumers are keen on boosting nutrition content in their daily diets, demand for almond flour is expected to grow strong going forward.
Blanched Almond Flour to Capture 56% Market Share
By the end of 2029, blanched almond flour will account for more than half of the total sales, as per the FMI study. Blanched almond flour is witnessing high demand from the bakery sector, due to its fluffiness, smooth, and fine texture. This type of almond flour is preferred over natural or unblanched flour, as it is lighter and much better for creating pastries as compared to their natural counterparts. These properties are further prompting manufacturers to launch innovative offerings in this category.
Preview Analysis 2019 Analysis and Review of Almond Flour Market by Form – Blanched and Natural for 2019 – 2028:https://www.futuremarketinsights.com/reports/almond-flour-market
Market Gains Upheld by High Rate of Application in Food & Beverage Sector
As of 2018, adoption of almond flour by the food & beverage industry held the largest revenue share, with the bakery sector accounting for more than half of this share. Almond flour finds wide applications in the bakery and confectionary sectors such as cakes, cookies, chocolates, and nutritional bars. Emerging trend of health and wellness and growing consumer inclination towards nutrient-rich food & beverages are encouraging manufacturers to use almond flour to add nutty flavor to their products without compromising nutritional content.
Trend of High Nutrition Food to Impact Western European Market Western Europe will continue to dominate the global almond flour market through to 2029. This growth is attributed to the high awareness regarding the health benefits of consuming almond products such as almond flour and almond milk along with a rise in the demand for low-fat and low-calorie food products. Spain continues to be one of the major almond-producing countries. Manufacturers in the country are implementing cost-effective techniques for almond cultivation to meet growing demand for almonds meals and almond flour in the European market. On the other hand, the almond flour market in North America is witnessing exponential growth, with growing number of consumers adopting healthier lifestyle and diets such as paleo diet.
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