Keto Flour Market: Market Outlook
Keto flour can be defined as the flour that is being increasingly used as a replacement for conventional flours, without compromising functionality, texture, and taste. Keto flours are generally marketed as low-carb flours by a majority of the key players, owing to their low carb content as compared to regular flours. Keto flour is specially formulated for keto dieters and consumers looking for an extremely low-carb diet. It offers unexceptional versatility in various commercial as well as retail applications in the food and beverage industry. There are various types of keto flours available in the global markets that are rich in vitamins, minerals, and other essential nutrients.
The concept of health and wellness has changed considerably over the years. Consumers are increasingly adopting products that offer any type of additional benefits related to health and wellbeing and tend to favor products that are produced in a more sustainable way, such as natural snack products that are processed using natural and healthy ingredients. Consumers are becoming more knowledgeable and health-conscious, leading to the increased demand for natural food ingredients. These factors can be considered to be favorable for the surge in demand for keto flours in the global food and beverage industry. However, the high prices of keto flour as compared to conventional flours can prove to be a major restraining factor for the keto flour market, especially in the emerging markets.
Keto Flour Market: Market Dynamics
Surge in Demand for Keto Products in Retail Industry to Trigger Sales of Keto Flour
The Keto diet is promoted for the various health benefits offered by keto products. The Keto diet is gaining immense popularity among athletes and other consumers aiming to lose weight. More and more manufacturers in the food and beverage industry are emphasizing offering keto diet products that help support keto consumers to achieve their goals. Keto flour is one of these products that improve overall health and supports consumers with weight loss, diabetes, and some other metabolic diseases. Keto flour is known to be fortified with superfood seeds and contains enormously high fiber and protein and extremely low in carbohydrates. The unique nutritional profile offered by keto flour and its versatility in the food and beverage industry are the factors contributing to the growth of the global keto flour market.
Keto Flour Market: Segmentation
Based on the type, the global Keto Flour market can be segmented as follows
- Almond Flour
- Coconut Flour
- Pecan Flour
- Cashew Flour
Based on the end-use, the global Keto Flour market can be segmented as follows
- Food Processing Industry
- Snacks and Savory
- Convenience Foods
Based on the distribution channel, the global Keto Flour market can be segmented as follows
- Business to Business
- Business to Consumer
- Convenience stores
- Specialty stores
- Grocery stores
- Online retail
Based on the region, the global Keto Flour market can be segmented as follows
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
Keto Flour Market: Key Players
Some of the key players operating in the keto flour market are Bajo Foods Private Limited, Ardent Mills, Texas Star Nut & Food Co., Nature's Eats., Blue Diamond Growers, King Arthur Baking Company, Inc., Betterbody Foods Inc., and few others.
Keto Flour Market: Opportunities
Key players engaged in the production of keto flour are focusing on a product expansion strategy to provide customers with unmatched formulations for keto and low net carb applications. Consumer interest in a low-carb diet continues to rise as consumers are looking for solutions that match their personal health values and preferences. Key players are also taking efforts to meet evolving consumer demand for healthier options, including plant-based protein and fiber. Consumers are looking for ‘new and exotic’ options, which is expected to open new room of opportunities for the key players operating in the keto flour market. The enduring popularity of the keto diet paves the way for key players to introduce different keto products.
- For instance, in March 2021, Ardent Mills announced the launch of its new flour blend for keto and low net carb baking. This launch was done in response to the increasing customer demand for low carb flour without compromising on taste, texture and functionality.
Keto Flour Market: Regional Outlook
In terms of geography, Europe is expected to show the highest influence on the keto flour market, as it is considered to be the home to the greatest share of keto consumers. The increasing health consciousness among consumers and the rise in awareness regarding health and weight loss benefits associated with the adaption of a keto diet are the major factors for the highest market share of Europe in the keto flour market. Followed by Europe, North America is anticipated to hold the second-highest market share in the global keto flour market. According to Google Trends, the search frequency for ‘keto diet’ remains very strong in the U.S., with an 850% increase in search volume in the last four years. The emerging markets of South Asia and East Asia are expected to hold a relatively lower share in the global keto flour market, but expected to witness the highest growth rate in the forecast period.
Impact of Covid-19 on Keto Flour Market
The spread of Covid-19 has forced a majority of the countries to declare a state of health emergency to limit the spread of the virus. The global food and beverage industry, one of the most important industries of the global economy, is also expected to witness a steep decline due to the affected industrial activities. Shortage of raw materials, affected workforce, disturbed supply chain, and value chain, and uncertain consumer demand for food products are the major factors that are affecting the global food and beverage industry. However, the impact of Covid-19 on the keto flour market is expected to be moderate owing to the increased demand for natural and healthy food products from the retail industry.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.