Almond Flour Market to Grow at a CAGR of 8.3 % to reach US$ 1,624.12 Million from 2020 to 2027

The almond flour market was valued at US$ 877.95 million in 2018 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.

Almond flour refers to almond nuts that has been ground and sieved to a certain particle size. It is mainly made from blanched almonds that lacks the dark flecks of skin. It is the most widely used nut product and is often used to make premium pastries, cookies, and sweet goods like almond macaroons. As the nuts are not ground to uniform sizes, the almond flour is sometimes coarser. It is sold in well stocked supermarkets, grocery stores as well as online. It can also be made at home. Almond flour has recently become famous and is used in baking items for consumers who prefer low-carbohydrate diets. It provides moisture and rich nutty taste to the baked goods. The items made using almond flour tend to be calorie- dense.

The almond flour market in North America is expected to grow at the highest CAGR during the forecast period. The growth of the market in this region is mainly attributed to the to an upsurge in the consumption of convenience food items like bakery products, snacks, noodles, and pasta. The increasing rate of working population increases the demand for ready to eat food products which uses almond flour as an ingredient. This in turn leads to the rise in demand for almond flour in the region. Also, the rise in the number of people suffering from gluten intolerance and allergies, supports the market for almond flour. The presence of market players such as King Arthur Baking Company, Anthony’s Goods and Hodgson Mill Inc. and their attempt to enhance the quality of almond flour & related products, is yet another reason behind the growth of almond flour market.

Impact of COVID-19 Pandemic 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.

Almond Flour Market

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Market Insights

Health Benefits Associated with Almond Flour Is Expected to Fuel Almond flour  Market Growth

Almond flour is a type of flour that is made from ground sweet and blanched almonds. It can be made at home or can be bought from supermarkets and health food stores. Almond flour is rich in vitamins, minerals, manganese and antioxidants. The manganese in almond flour helps the body in blood clot and allows it to heal after injuries. It also helps in breakdown of carbohydrates & cholesterol and in controlling the blood sugar levels. Almond flour is rich in mono-unsaturated fats that keeps cholesterol under control which in turn lowers the risk of heart diseases. Almond flour is a low glycemic index food and has fewer sugar and carbohydrates content which helps in keeping diabetes under control. It is also rich in prebiotic dietary fiber which can be digested by the bacteria present in the small intestine. Getting enough amounts of prebiotic dietary fiber leads to a healthier and efficient digestive system. Almond flour is rich in vitamin E which is a type of antioxidant that favors the brain. Enough intake of vitamin E reduces the risk of developing cognitive diseases like Alzheimer’s disease. The presence of vitamin E and antioxidants reduce the risks associated with cancer, diabetes, stroke and other heat related problems. The rising inclination toward healthy lifestyle and growing instances of diabetes, cancer, and other such diseases are among the factors driving the growth of the market under study. Also, rising preference of high-protein flour products, is positively affecting the market growth.

Form Insights

Based on form, the almond flour market is bifurcated into blanched and natural. The blanched segment accounted for a larger market share in 2018 and it is expected to register a higher CAGR in the market during the forecast period. Blanched means that the almond's skin has been removed from the nut, and hence blanched almond flour will contain no almond skin. Blanched almond flour is gluten-free, high in fiber and a high protein source, and low in carbohydrates. Almonds provide the most calcium and are beneficial for lowering cholesterol and heart health. It is made using pure almonds and is one of the best choices for a healthy kind of baking flour. Blanched almond flour is mostly used for its smooth, fine, and fluffy texture. Blanched almond flour is lighter and is much better for making baked products and pastries. Because the almonds are white (having had the skin removed), the ground up flour will not make a difference to the dish's appearance. Blanched almond flour also carries the same health and nutritional benefits as unblanched or natural almond flour.

Almond Flour Market, by Form– 2018 and 2027

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Nature Insights

Based on nature, the almond flour market is segmented into organic and conventional. The conventional segment accounted for the largest market share in 2018. Conventional almond flour is made from blanched, skinless almonds that are ground to produce a powder. Hence, most market players use conventional almond flour to deliver different food & beverage, bakery, and other industries. Conventional almond flour is considered more nutritious than whole almond flour and grain flour. It also helps in fighting inflammation and aiding weight loss. Conventional farming is one of the most popular and preferred farming methods due to its benefits to consumers and producers, including price and availability. Due to the low production costs, the conventional farmers produce the crops in mass and then sell them to the consumers at lower prices. Moreover, the growing bakery sector and increasing manufacturing of chocolate and confectionary further drive conventional almond flour demand. All these factors have paved the way to a significant rise in demand for almond flour.

End User Insights

Based on end user, the almond flour market is segmented into food service, food and beverages, cosmetic industry, dietary supplements, and others. The food and beverages segment accounted for the largest market share in 2018. Almond flour has high content of minerals such as iron, calcium, potassium, manganese, and zinc. It is also characterized by low fat and gluten content. Owing to these reasons, almond flour finds its applications in a wide variety of food and beverages industry. Almond flour cookies are made using almond flour along with oats or corn flakes. It is completely healthy with excellent taste provided in one bite. Almond flour is also used in the making of cakes and various dietary fibers. Many bakery products are prepared using almond flour such as cookies, biscuits, bread, rolls, cookies, pies, pastries, and muffins. Almond flour plays a crucial part in the production of breakfast cereals and other dietary products. This is likely to soar the demand for almond flour in the food & beverage industry in the near future. The trend for the consumption of organic food products amongst consumers will favor the demand for almond flour in the food & beverage industry.

Strategic Insights

A few players operating in the almond flour market are 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 among many others. The key companies implement the mergers and acquisitions, and research and development strategies to expand customer base and gain significant share in the global market, which also allows them to maintain their brand name globally.

Report Spotlights

• Progressive industry trends in the almond flour market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the almond flour market from 2019 to 2027
• Estimation of global demand for almond flour
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
• Recent developments to understand the competitive market scenario
• Market trends and outlook as well as factors driving and restraining the growth of the almond flour market
• Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
• The size of the almond flour market size at various nodes
• Detailed overview and segmentation of the market, as well as the almond flour industry dynamics
• Size of the almond flour market in various regions with promising growth opportunities

Almond Flour Market- by Form

• Blanched
• Natural

Almond Flour Market – by Nature

• Organic
• Conventional

Almond Flour Market – by End User

• Food Service
• Food and Beverages
• Cosmetic Industry
• Dietary Supplements
• Others

Company Profiles

• 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
• Bob’s Red Mill Natural Foods