In a newly released market research intelligence report, Future Market Insights forecasts robust growth prospects for almond flour landscape. The roughly US$ 1.2 Bn almond flour market is likely to demonstrate modest year on year revenue growth in 2019, reaching the valuation just-over US$ 1.3 Bn, as indicated by the report.
Production Hotspot Belongs to the US, Almond Flour Demand to Boost Import
The US is the largest almond producer globally, with a majority of commercial production concerted in California. While California’s almond production is bifurcated between the US and other importing countries, Germany registers the highest import volume, followed by Netherlands and Japan. European import generally breaks down further into almond flour, almond paste, and almond oil.
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Italy, Spain, Mediterranean countries, and a few other European and ME countries also represent the next key almond producers owing to strong presence of traditional almond growers. These producers have adopted economical cultivation techniques; however, their almond produce is majorly consumed for household applications.
In recent years, almond cultivators are constantly striving to amplify the produce to meet growing demand for the fruit as well as derived products such as almond flour. With increasing awareness and acceptance of almond flour as a healthful alternative to a range of whole grain flours in both cooking and baking, the global production and sales of almond flour is more likely to gain momentum in coming years.
Surging availability of almond flour across a number of conventional distribution channels is cited as another strong factor pushing the growth of almond flour market worldwide.
The New Health Wave to Boost Sales of Almond Flour
The research first highlights the most prominent USPs of almond flour, which collectively account for a highly attractive nutrition profile for health conscious consumers. A newly emerging consumer class – Pegan, i.e. paleo + vegan, is thus projected to uplift the revenue generation prospects for almond flour processors in the near future.
The gluten-free, less processed, low carb and low sugar, high fat and protein, fiber rich, and vitamin and mineral enriched almond flour also attracts consumers with its conducive glycemic index and longer shelf life if sealed and refrigerated.
Researchers have been referring to almonds as the brain food that has been even linked with reduced risks of acquiring Alzheimer’s. Moreover, a growing number of almond flour consumers is embracing the DIY almond flour processing trend of late, attributed to easy processing.
Gluten-free Trend to Shape Almond Flour Adoption Scenario
According to the Mayo Clinic’s published data, over 3 million people in the US alone follow gluten-free diet at present. Although the rate of prevalence of celiac disease has increased negligibly over the recent past, people are increasingly shifting to consuming gluten-free products for their healthfulness.
The number of gluten-free diet followers as a result has reportedly tripled compared to that in 2007. Observing the brisk pace of gluten-free shift, it is more likely that dietary alternatives such as almond flour will witness growing consumption over coming years.
Increasing use of almond flour as a preferred snapping agent for conventional grain flours in baking points to the positive outlook of almond flour market growth. Cakes, cookies, sweetbreads, macarons, and some other baked products register considerable consumption of almond flour; industry experts indicate elevating almond flour consumption in cooking as well.
Almond Flour Processors to Prioritize Capacity Expansion & Online Sales
The global almond flour landscape is majorly concentrated in the US, and the report provides insights on some of the key companies by thoroughly profiling their financials and strategic developments.
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A few of the key almond flour market players include Bobs Red Mill, Honeyville Farms, Blue Diamond Growers, King Arthur Flour Company LLC, Anthony’s Goods, NOW Foods, Sincerely Nuts, Oh! Nuts®, Wellbees, Grain Brain, Rolling Hills Nut Company, Alldrin Brothers., Oleander Bio, SA, Treehouse California Almonds, LLC, Almondco Australia Ltd., and others.
In an effort to cater to record demand, Blue Diamond Growers recently increased almond flour production capacity (2017). The company launched a new processing line in Salida, Colorado that features a custom-designed conveyance system for almond and almond flour processing. Blue Diamond’s offerings under the almond flour category currently include three variants, viz. extra fine natural, extra fine blanched, and fine blanched.
Apart from C-stores, and supermarkets and hypermarkets, almond flour manufacturers are capitalizing on highly profitable opportunities at food and drink specialty stores, health food stores, and online stores.
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Companies are adopting highly effective marketing strategies for garnering improved profit through their online brand stores. Smaller players are likely to focus on strategic tie-ups with Ecommerce leaders for almond flour and related products’ distribution.