Almond Flour Market Size | COVID-19 Impact Analysis, Segments, Top Key Players, Drivers and Trends to 2027

Almond Flour Market by Product Type (Natural Almond Flour and Blanched Almond Flour), Application (Bakery, Confectionery, Cosmetics, and Other), End Use (Commercial and Household), and Sales Channel (Online and Offline): Global Opportunity Analysis and Industry Forecast, 2021–2027."According to the report, the global almond flour industry was estimated at $976.46 million in 2019, and is anticipated to hit $1.70 billion by 2027, registering a CAGR of 7.9% from 2021 to 2027.

Covid-19 scenario-
• The outbreak of the pandemic has made people more health conscious. There has been an increased inclination toward consuming products that are rich in nutrients, protein, vitamins, and essential minerals which, in turn, has impacted the almond flour market positively.
• On the other hand, transportation problems have caused disruptions in the supply chain. Prices have also declined for crops such as maize and wheat. However, government bodies are coming up with a number of relaxations on the existing regulations, which would aid the global market to recoup its position very soon.

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Increase in demand for almond flour as a key ingredient in bakery premix applications, surge in demand for natural almond flour due to their organic properties, rise in demand for almond flour in developing nations, and upsurge in application of blanched almond flour in the cosmetic industry fuel the growth of the global almond flour market. On the other hand, availability of healthier substitutes and stringent regulations & international quality standards imposed on food products impede the growth to some extent. However, rise in focus on improving quality and shelf life and increase in investments by small-& mid-sized food product manufacturing companies are expected to create multiple opportunities in the industry.

According to the almond flour market analysis, the market is segmented on the basis of type, application, end use, sales channel and region. Based on type, the market is categorized into natural almond flour and blanched almond flour. Blanched almond flour is widely used in cosmetics industry and is one of the prime products in skin care, thus is expected to influence the overall almond flour industry. The blanched almond flour segment was valued at $616.94 million and is expected to grow with a CAGR of 7.8% from 2019 to 2027, to reach $1065.46 million by 2027. The natural almond flour segment is estimated to be the fastest growing segment, with a CAGR of 8.10% during the forecast period. The fastest growth of natural almond flour segment is attributed to growth in consumption of natural ingredients and health concerns among the consumers.

On the basis of application, it is categorized into bakery, confectionery, cosmetics, and others. The bakery segment was valued at $474.60 million and is expected to growth with a CAGR of 7.60% during the forecast period. The segment is expected to reach $812.21 million by 2027. This is attributed to wide usage of almond flour in bakery products such as bread, cookies & biscuits, rolls & pies, cakes & pastries, and others.

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On the basis of end use, the commercial segment held a significant share of 66.4% in the global market in 2019. This is attributed to increase in demand for almond-based products as healthy alternatives to conventional products across the globe. In addition, benefits such as easy handling and longer shelf life further adds to its market attractiveness.

On the basis of sales channel, the offline segment dominated the market in 2019, accounting for 67.50% of the almond flour market share, and is expected to retain its dominance throughout the forecast period. This is attributed to the fact that consumers are preferring products from various offline sales channels such as hypermarket/supermarket, specialty stores, convenience stores, among others while purchasing, which has created major traction in the almond flour market.

Key players in the industry-
• Blue Diamond Growers
• Barney Butter
• Hodgson Mill
• Treehouse Almonds
• Anthony's Goods
• Oleander Bio SA
• Shiloh Farms
• Rolling Hills Nut Company
• King Arthur Flour Company, Inc
• Bob's Red Mill Natural Foods

Region wise, North America was the prominent market in 2019, garnering maximum share, owing to high consumption of bakery, confectionery, cosmetics products in majority of the North American countries, including U.S., Canada, and Mexico. Furthermore, consumers in the region are attracted by new almond-based products, texture, and higher nutrition content, which drive the market growth. Furthermore, North America is expected to witness CAGR of 7.60%, owing to health benefits offered by few natural almond flour products.

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