The global almond flour market size 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 2021-2027.
Almond flour is a popular alternative to traditional wheat flour, which is low in carbs, packed with nutrients and has a slightly sweeter taste. Almond flour is rich in nutrients, protein, vitamins and minerals. In 2019, the blanched almond flour segment accounted for more than one-third of the total almond flour market share. Almond flour is majorly used as a key ingredient in various applications such as bakery, confectionery, cosmetics, among others. Various almond flour products offered in the market include cakes, cookies, bread, pastries, and other related products. Almond flour products retain many essential nutrients; hence, almond flour products have been gaining a major popularity in the market.
Changing consumer preferences and awareness about health benefits of consuming almond products will continue to foster higher demand for almond flour products. Furthermore, increasing consumer inclination toward gluten-free diets and higher standards will continue to create demand for the processing equipment. Furthermore, increased appetite for bakery products will create remunerative opportunities for players operating in the almond flour industry.
Factors that drive the market growth are change in lifestyle of people and varied consumer trends toward use of almond flour in various bakery products with different flavor. The bakery industry has influenced the market to a large extent. Rise in preference of consumers toward cereals such as wheat flour, oat flour, rice flour and others, which are high in proteins, fiber, minerals, vitamins, and carbohydrates over baked products such as breads, cookies, and rolls. This is expected to hamper the growth of the almond flour market.
Moreover, the recent outbreak of the novel coronavirus has impacted the supply chain globally, and is anticipated to affect the market for a short term. On the contrary, the advantages offered by almond flour are expected to boost the almond flour market growth, as consumers have become more health conscious since the onset of the pandemic.
According to the almond flour market analysis, the 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 segmented into commercial and household. By sales channel, it is bifurcated into online and offline channels. Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, 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 Africa).
On the basis of type, the blanched almond flour segment accounted for the maximum share in the global market in 2019. Blanched almond flour has been the most preferred choice of almond flour among consumers due to growing demand for bakery and confectionery products globally, coupled with rise in demand for high protein bakery products in the market. Owing to this demand for confectionery products, the market for blanched almond flour is expected to grow at the CAGR of 7.80% during the forecast period.
By Type
The blanched almonf flour segment helds the major share of 63.18% in 2019
On the basis of application, the bakery segment was dominant, which accounted for around half share in the almond flour market in 2019, and is expected to retain its dominance throughout the forecast period. Prominent manufacturers have focused on developing consumer-centric products at economical prices to achieve market growth and sustainability. Increase in nutritional content of various products is anticipated to create a significant demand for bakery products. This in turn is anticipated to provide potential for the almond flour market expansion.
By Application
The Cosmetics segment witness a CAGR of 8.70% from 2021-2027
On the basis of end use, the commercial segment was dominant, which accounted for one-third share in the almond flour market in 2019, and is expected to retain its dominance throughout the almond flour market forecast period. The demand for almond flour is expected to grow substantially owing to rise in investments in commercial spaces such as airports, hospitals, hotels, restaurants among others. The convenience of sales and purchase, varieties offered by brands, and cost are some of the key driving factors of the market. Increase in sales of natural almond flour is expected to create high demand for almond flour in the commercial sector.
By End Use
The Commercial segment helds the higest market share of 66.4% in 2019
On the basis of sales channel, the offline segment held a significant share in the global almond flour market in 2019.Offline segment includes supermarket/hypermarket, convenience stores and specialty stores. Convenience stores provide the desired ease and choice of options for an evolving consumer. Market players are establishing new convenience stores across various regions to extend their reach and increase their customer base. Specialty stores are introducing different types of almond flour products with healthier nutrients, which are rich in vitamin B1to attract the consumer, thereby propelling the growth of the market. Moreover, the specialty retail industry is anticipated to witness uncertain growth owing to macroeconomic factors such as consumer spending and higher disposable income.
By Sales Channel
The Offline segment helds the higest market share of 67.5% in 2019
On the basis of region, North America dominated the almond flour market in 2019 and accounted for maximum share in the global almond flour market. Owing to higher consumption and production of almond and its products, the market in the region is projected to gain wide traction during the forecast period. Asia-Pacific is expected to witness the highest CAGR of 8.5%, owing to rise in number of food and bakery processing companies, and significant improvement of almond derived products.
By Region
The North America region helds the higest market share of 36.8% in 2019
The players in the almond flour market have adopted business expansion as their key developmental strategy to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in the 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 report provides a quantitative analysis of the current almond flour market trends, estimations, and dynamics of the market size from 2019 to 2027 to identify the prevailing opportunities.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
In-depth analysis and the market size and segmentation assists in determining the prevailing almond flour market opportunity.
The major countries in each region are mapped according to their revenue contribution to the market.
The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the almond flour industry.
Almond Flour Market Report Highlights
| Aspects | Details |
 By Type |
|
 By Application |
|
 By End Use |
|
 By Sales Channel |
|
 By Region |
|
 Key Market Players | TREEHOUSE ALMONDS, Oleander Bio, SA, Rolling Hills Nut Company, Bob’s Red Mill Natural Foods, Blue Diamond Growers, Hodgson Mill, Barney Butter, Anthony's Goods, SHILOH FARMS, King Arthur Flour Company, Inc |
Analyst Review
Innovation in the almond flour ingredients is the key factor for the growth of the global almond flour market. Rise in demand for various almond flour products from target customer makes way for the manufacturers to come up with innovation in almond flour, which is anticipated to boost the growth of the almond flour market.
The CXOs further added that manufacturers are focusing on displaying the transparency of the ingredients, which are added in the product, as majority of the consumers choose products by reading the labels. In addition, consumers prefer products with lesser number of ingredients. Moreover, increase in curiosity of millennial to try innovative food boosts the growth of the almond flour market. Furthermore, rise in rate of internet penetration around the major parts of the world makes way for manufacturers to initiate several key online marketing programs. These online platforms are one of the easiest ways to create awareness about the specifications and features of the organic ingredients among the target customers. Hence, tapping into such markets is expected to create potential opportunities for the expansion of the global almond flour market.
The CAGR of Almond Flour market is 7.90%.
The Almond Flour Market is likely to increase $624.31 from 2021 to 2027.
Kindly raise an inquiry on the portal and our salesperson will get in touch with you with available purchase options.
Availability of healthier substitute and stringent regulations and international quality standards are the effecting factors in the almond flour market.
The almond flour market is segmented on the basis of type, application, end use, sales channel and region.
Focus on improving quality, shelf life, and lessen production costs and increase in investments by small- & mid-sized food product manufacturing companies are the major trends which is likely to shape the market in the coming future.
The forecast period in the market report is from 2021-2027
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.
Asia-Pacific region is likely to provide business opportunities in the almond flour market in the coming years.
Loading Table Of Content...
