A recent report published by
Infinium Global Research on the almond flour market provides an in-depth analysis of
segments and sub-segments in the global as well as regional almond flour
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional almond flour market over the short term
as well as long term. The report is a comprehensive presentation of trends,
forecast, and dollar values of the global almond flour market. According to the
report, the global almond flour market is projected to grow at a CAGR of 7.8%
over the forecast period of 2020-2026.
Almond flour is rich in the source of
vitamins, omega fatty acids, minerals, and proteins. Almond flour is both
wheat-free and gluten-free, making it a major alternative for baking for those
who can't tolerate wheat or gluten. It is mostly utilized in bakery products
such as cakes and cookies. Further, almond flour is low-carbs, high-protein, and
rich in fiber and healthy fats which offer wide usage in bakery and
confectionery products. The popularity of almond flour has risen abruptly, due
to the millennial inclination towards healthier options for meal replacement.
Amidst the COVID-19 crisis and the
unspecified lockdown across nations, the consumer food & beverage industry
first witnessed augmented demand for household consumables, healthy food items,
and nutritious food with longer shelf lives. The demand for fruits &
vegetables, dry fruits, and whole grains, among others, witnessed substantial
growth during the early stages of the pandemic. In the current situation, most
businesses in the industry are faced with low demand for their products and
supply chain fluctuations. In addition, the temporary shutdown of bakery and
confectionary outlets may hamper the demand for almond flour.
Nevertheless, the demand for
almond flour is anticipated to increase owing to increasing health
consciousness among consumers, rising demand for gluten-free bakery products, and due to health benefits associated with almond flour. Moreover, the upsurge
in demand for plant-based or vegan food, increasing standard of living along
with healthy eating habits are the key driving factors that will drive the
almond flour market. Rising urban population and rising demand for gluten-free
food consumption is also some key contributing factor that is expected to
accelerate the demand for almond flour market growth. Further, the rapidly growing
bakery sector along with increasing the manufacturing of chocolate and
confectionary will accelerate the demand for almond flour. However, the availability
of other substitutes and the high price of almonds may hamper the demand for almond
flour markets. Furthermore, increasing demand for protein-rich diet and rapid
growth of the dietary supplements industry will augment the demand and offer wide
opportunities for the almond flour market.
Geographically, Asia Pacific held
the largest share in the almond flour market in 2019. China and India are the
key revenue generator in the Asia Pacific almond flour market. Factors such as
rapid urbanization, a growing number of food processing units, and increasing
usage of almond flour in bakery and confectionary are increasing the demand for
almond flour market in this region. Further, Europe will witness rapid growth
in the forecast period owing to the rising demand for gluten-free food, significant
imports of almond-derived products, and also high consumption of bakery products
in the region.
The report on global almond flour
market covers segments such as type, application, end use, and sales channel.
On the basis of type, the sub-markets include natural almond flour, blanched
almond flour, and others. On the basis of application, the sub-markets include
bakery, chocolate and confectionery, cosmetic, and others. On the basis of end
use, the sub-markets include commercial, and household. On the basis of sales
channel, the sub-markets include offline, and online.
The report provides profiles of
the companies in the market such as Hodgson Mill, TREEHOUSE ALMONDS, Grain-Free
JK Gourmet, WellBees, Nature's Eats, Nature’s Choice, Anthony's Goods, Barney
Butter, Blue Diamond Growers, and Bob’s Red Mill Natural Foods.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of almond flour market. Moreover, the study highlights current market
trends and provides forecast from 2020-2026. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an
insight into the market share of the leading players.