Almond flour is produced from ground sweet almonds and has multiple health benefits. Almond flour is gluten-free, high in calories and rich in source of vitamins including vitamin E, vitamin B, vitamin A, minerals, omega fatty acids and protein and others. Furthermore, products derived from almond have multiple applications in bakery, confectionery and cosmetics industries. Increase in demand for almond flour such as natural almond flour, and blanched almond flour in the bakery and confectionery industry is one of the major factors that drive the market globally. Bakery, confectionery’s and cosmetics product manufacturers have invested a lot in R&D to utilize almond flour to enhance characteristics, taste, or nutritional value of their products. The global almond flour market was valued at $976.46 million in 2019 and is anticipated to reach $1,704.23 million by 2027, with a CAGR of 7.90% during the forecast period.
Consumers are actively focused toward fitness and health. Active and health conscious consumers have shifted their preference toward natural-based products. Hence, the demand for natural almond flour as a natural ingredient is growing rapidly due to its nutritional properties such as electrolytes and nutrients. Blanched almond flour is beneficial for hair and skin and hence, is widely used in range of cosmetic and personal care products such as hair oils and soaps. The rise in demand for almond flour in the cosmetics industry is likely to drive the market for almond flour globally.
The consumer preference toward organic food is on a constant rise owing to increase in health consciousness among consumers. Further, surge in disposable income, improvement in living standard, rise in health expenditure, and large-scale promotion of organic food owing to its benefits, such as chemical free and natural, drive the growth of natural almond flour products.
The rise in demand for almond flour is rapidly increasing among confectionery manufacturers and in bakery products where it is widely used in cakes, cookies, pastries, and other baked products. Moreover, the demand for almond flour is also increasing in food cuisines to add flavor and nutritional content. It has become increasingly popular, owing to its high nutrient content, which is beneficial for skin and hair and hence, is likely to experience high growth in the future.
The almond flour market is segmented on the basis of type, application, end use, sales channel, and region. By type, it is categorized into natural almond flour and blanched almond flour. By application, it is divided into bakery, confectionery, cosmetics, and others. By end use, it is bifurcated into commercial and household. By sales channel, it is bifurcated into online and offline sales. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, the Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, United Arab Emirates, Saudi Arabia, Turkey, and Rest of LAMEA).
The key players profiled in this report include Rolling Hills Nut Company, Blue Diamond Growers, Hodgson Mill, Treehouse Almonds, Bob’s Red Mill Natural Foods, Oleander Bio, SA, Shiloh Farms, King Arthur Flour Company, Inc, Anthony’s Goods, and Barney Butter.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global almond flour market, with current and future trends to elucidate the imminent investment pockets in the market.
- Current and future trends are outlined in the report to determine the overall market attractiveness and single out profitable trends to gain a stronger foothold in the market.
- The report provides information regarding drivers, restraints, and opportunities with impact analysis.
- A quantitative analysis of the current market and estimation for the same from 2019 to 2027 is provided to showcase the financial competency of the market.
- Porter’s five forces model of the industry illustrates competitiveness of the market, by analyzing various parameters such as, threat of new entrants, threat of substitutes, bargaining power of the buyers, and bargaining power of the suppliers operating in the market.
- Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
- Competitive intelligence highlights the business practices followed by the leading market players across various regions
KEY MARKET SEGMENTATION
- By Type
- ·Natural Almond Flour
- ·Blanched Almond Flour
- By Application
- By End Use
- By Sales Channel
- By Region
- ·North America
Rest of Europe
Rest of Asia-Pacific
United Arab Emirates
Rest of LAMEA