The global almond flour market size is expected to witness remarkable growth on account of the increasing demand from various application industries. Commonly known as ground almond, almond flour is made from blanched or skinned ground almonds. It is commonly used for making baked goods such as cakes, cookies, quick bread, and macarons. The high nutrient properties of almond flour is a major factor boosting the market, says Fortune Business Insights™ in their new report. The report is titled, “Almond Flour Market Size, Share & Industry Analysis, By Nature (Conventional, Organic), By Form (Blanched, Natural), By End-Use (Household, Foodservice, Industrial) Others and Regional Forecast, 2019-2026.”
The report is based on a thorough analysis of the market and presents a comprehensive overview of the same. It covers major parameters of the market such as driver, restraints, challenges, and opportunities. Apart from this, the report highlights key industry developments and interesting insights and prevailing almond flour market trends. It also lists various segments of the market based on categories such as nature, form, end-user, and others. The report is available for sale on the company website.
Drivers –
Increasing Number of Health Consciousness People Preferring Nutrient-rich Baked Goods to Drive Market
The increasing demand for gluten-free products is a major factor in promoting the almond flour market growth. Besides this, the functional attributes of almond such as healthy non-saturated fats, manganese, and protein content, are also anticipated to aid in the expansion of the market. Additionally, almond is rich in nutrients such as vitamin E and helps to reduce the risk of various heart diseases since they act as antioxidants. The health-promoting quality of almond flour is further expected to drive the overall market in the forecast period.
On the contrary, the presence of cheaper substitutes for almond flour such as quinoa flour, sunflower seed flour, coconut flour, chickpea flour, and others may pose a major threat to the overall market. Nevertheless, the increasing demand for almond rich products such as almond oil and almond butter is likely to create lucrative growth opportunities for the market in the near future.
Regional Analysis –
Asia Pacific to Witness Remarkable Growth on Account of Flourishing Food Service Sector
Geographically, the global almond flour market is categorized into the regions of Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Among these, Europe is holding a majority of the almond flour market share. This is attributable to the well-established bakery and food services sectors that have a high demand for nutritious and healthy ingredients. People in this region have a greater preference for freshly baked products such as muffins, cakes, pastries, and bread. The presence of bakery and confectionery sectors in this region is anticipated to help increase the regional market share in the forecast period as well.
On the other side, the demand for almond flour is likely to witness a significant rise in Asia Pacific. This is attributable to the rising population and growth of the foodservice and food processing industries in the region. Besides this, there is an increasing demand for “better-for-you” ingredients and healthy food items which will further help Asia Pacific market earn significant shares.
Competitive Landscape –
Merger and Acquisition Strategy Adopted by Players Will Help Expand Business
Companies operating in the almond flour market are making efforts to increase the overall production of almond flour. They are also investing in the construction of new processing lines for increasing the overall market revenue during the forecast period.
Source: https://www.fortunebusinessinsights.com/industry-reports/almond-flour-market-101928
