Market Research Report
Almond Flour Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Form (Blanched and Natural), Nature (Organic and Conventional), and End User (Foodservice, Food & Beverages, Cosmetic Industry, Dietary Supplements, and Others)
|Almond Flour Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Form (Blanched and Natural), Nature (Organic and Conventional), and End User (Foodservice, Food & Beverages, Cosmetic Industry, Dietary Supplements, and Others)|
Published: October 21, 2020
The Insight Partners
Content info: 147 Pages
Delivery time: 1-2 business days
The global almond flour market was valued at US$ 877.95 millionin 2019 and is projected to reach US$ 1,624.12 million by 2027; it is expected to grow at a CAGR of 8.3 % during 2020-2027.
Almond flour is used in making numerous bakery products, such as cookies, breads, and hard-baked items. In foodservice industry, almond flour is used to give a moist texture and rich buttery flavor to cookies, cakes, and muffins. It is sold in super market s, grocery stores, and online shops, as well as prepared at home. Almond flour recently gained traction in the baking industry due to growing preference toward low-carbohydrate diets among the health-conscious consumers. It enhances the nutritional profile of the baked product as it is a good source of fat, protein, fiber, vitamins, minerals, manganese, and antioxidants. Almond flour is widely used in skincare products such as facemask, scrub, lotion, and others. It is beneficial for skin as it is used to remove dead and dry skin and reduce inflammation.
Consumers are becoming aware about the ill effects associated with gluten consumption and areoptingfor gluten-free products. With that said, almond flour offer a variety of healthier options formeal replacement and snacks. Moreover, the rising adoption of paleo diet meal plan by health-conscious consumers is expected to further propel the demand for almond flour.
Based on form, the almond flour market is further bifurcated into sblanched and natural. In 2019, the blanched segment led the market with a larger market share.Blanched almond flour is gluten-free,richin fiberand protein, while low in carbohydrates. Almonds are a good source of calcium and are beneficial to reduce cholesterol level and improve heart health. Blanched almond flour has smooth, fine, fluffy texture, and lighter; thus,it is preferred in preparing baked products. Almonds are white (having had the skin removed), therefore, the use of flour does not make any difference to the dish's appearance.Blanched almond flour also carries the same health and nutritional benefits as unblanched or natural almond flour.
Natural almond flour is a gluten-free andlow-carbsubstitute to standard wheat flour in baking. Also, it offers flavor and a nutty taste that works well with many other food items.Almonds contain all sorts of minerals and vitamins, and its consumption helps boost energy and improve skin. Natural almond flour is an excellent source of Vitamin E and protein. It reduces cholesterol levels and improves metabolic rate, as well as it is good for heart, bones, and teeth. The natural almond flour helps control diabetes and manage weight loss or weight gain. It is best for brain as it enriched with brain power boosting nutrients like vitamin E and B6.
Geographically, the almond flour market is further segmented into North America, Europe, AsiaPacific (APAC), South America (SAM), andthe Middle East and Africa (MEA). In 2019, North America held the largest share of the global almond flour market , followed by Europe and Asia Pacific. The rapid growth of the almond flour market in North America is primarily driven bythe increase in the consumption of convenience food items such asbakery products, snacks, noodles, and pasta.
The almond flour market in Asia Pacific countries has experienced a significantshift over the past few years. In 2019, Asia Pacific accounted for the largest share in the global almond flour market due to the growing consumption of various baked products, supplements, and beverages made with almond flour. Almonds, as a raw material,are easily available in the region for the production of almond flour, in turn, propelsthe market growth.
The almond flour market in Europe witnesses growth owing to the presence ofwell-established players such as Oleander Bio, SA;Treehouse California Almonds, LLC;Blue Diamond Growers; and Bob's Red Mill Natural Foods. The demandforalmond flour has increased within the region, especiallyin Germany, France, and the UK, owing to the awareness of its nutritional benefits and availability of different types of almond products.
The COVID-19outbreak was initially reportedin Wuhan, China, inDecember 2019. As of October 2020, the US, Brazil, India, Russia, Spain, Argentina, Mexico, and South Africaare among the most affected nationswith the highest number of COVID-19 patients.According to the report by theWHO, a total of ~1,049,693deaths and ~35,777,158 confirmed cases werereportedacross the world. The COVID-19 pandemic has affected economies and industriesdue tolockdowns, travel bans, and business shutdowns. The global food &beveragesis one of the majorindustries that areadversely affected by the pandemic. Consequently, the demand for almond flour across the world has significantly declined over the last few months.
King Arthur Flour Company Inc.; Alldrin Brothers; Anthony's Goods; Hodgson Mill Inc.; Organic Bio, SA; Rolling Hills Nut Company Inc.; Shiloh Farms; Treehouse California Almonds, LLC; Blue Diamond Growers; and Bob's Red Mill Natural Foods are among the major players operating in the global almond flour market .
The overall global almond flour market size has been derived in accordance with to both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market . Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the global almond flour market .
Highlights key business priorities to assist companies realign their business strategies.
Features key findings and crucial progressive industry trends in the global almond flour market, thereby allowing players to develop effective long-term strategies.
Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
Scrutinizes in-depth market trends as well as key market drivers and restraints.
Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.