The global sales of almond flour surpassed a value of US$1 billion in 2015, with the almond flour market continuing to thrive at a healthy rate since.
Between 2019 and 2028, the global almond flour market will see a robust compound annual growth rate of over eight per cent, as indicated by a new report from Future Market Insights.
One of the first players in the gluten-free flours category, almond flour is commonly used within the bakery sector, which the report says will remain the prime consumer of almond flour through to 2028.
Greater emphasis of agriculture promotion groups on setting sustainable standards for the almond cultivation space is projected to be an important factor that would shape the market for almond flour in the near future.
Although gluten-free and other non-traditional flours are yet to become mainstream, they have been capturing a considerable shelf space in retail stores in recent years.
While coconut flour and banana flour have been among bakers’ favourites for grain-free flours, almond flour has garnered a lot of attention recently and is expected to accelerate in consumer preference in the following years, with the expansion of vegan and paleo diet trends.
Blanched almond flour remains preferred over natural or unblanched versions, particularly among bakery sector operators; a preference that is attributed to the superior texturising properties of blanched almond flour.
The high-protein, low-carb profile of almond flour makes it a desirable ingredient for the manufacturers of dietary supplements, but the high price point remains a challenge to the growth of almond flour market.
Europe is projected to remain the significantly more lucrative market for almond flour sales, and the bakery sector, among all the industrial end users of almond flour, will continue to account for more than a 50 per cent share in the market.