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Health Benefits Associated with Almond Flour to Escalate its Market Growth (CAGR of 8.3% ) During Forecast Period
NEW YORK, UNITED STATES, November 26, 2021 /EINPresswire.com / -- According to our latest market study on“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),” the market was valued at US$ 877.95 million in 2019 and is projected to reach US$ 1,624.12 million by 2027; it is expected to grow at a CAGR of 8.3% from 2020 to 2027. The report highlights key factors driving the growth of the market and prominent players along with their developments in the market.
Report Coverage Details
Market Size Value in- US$ 877.95 Million in 2018
Market Size Value by- US$ 1,624.12 Million by 2027
Growth rate- CAGR of 8.3% from 2020-2027
Forecast Period- 2020-2027
Base Year- 2020
No. of Pages- 147
No. Tables- 83
No. of Charts & Figures- 80
Historical data available- Yes
Segments covered- Form , Nature , and End User
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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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 supermarkets, 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 are opting for gluten-free products. With that said, almond flour offer a variety of healthier options for meal 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.
Effect of COVID-19 on Almond Flour Market
The COVID-19 outbreak adversely affects economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Food and beverages are among the significant industries suffering from severe disruptions such as restrictions on the supply chain and shutdown of production plants. The shutdown of different plants and factories in various countries disrupts the global supply chains and negatively impacts the manufacturing activities, delivery schedules, and multiple goods sales. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hindering business collaboration and partnership opportunities. Thus, these factors are restraining the growth of the almond flour market in the food and beverage industry.
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Based on form, the almond flour market is further bifurcated into blanched and natural. In 2019, the blanched segment led the market with a larger market share. Blanched almond flour is gluten-free, rich in fiber and 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.
Geographically, the almond flour market is further segmented into North America, Europe, Asia Pacific (APAC), South America (SAM), and the 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 by the increase in the consumption of convenience food items such as bakery products, snacks, noodles, and pasta.
Almond Flour Market: Competitive Landscape and Key Developments
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.
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