The almonds market size is expected to see strong growth in the next few years. It will grow to $11.84 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The projected growth in the forecast period can be attributed to various factors, including global demand expansion, developments in trade policies and market access, shifts in health and wellness trends, considerations for environmental sustainability, intensifying market competition, and ongoing product innovation. Key trends expected during this period encompass the expansion of almond plantations, advancements in technology related to almond farming practices, initiatives aimed at sustainability and certification, diversification and innovation in product offerings, alignment with health and wellness trends, dynamics within international trade, and consumer preferences favoring sustainable packaging solutions.
The anticipated increase in the penetration of e-commerce is set to drive the expansion of the almonds market in the future. E-commerce refers to the online business model that facilitates the exchange of goods and services over the Internet. The growing penetration of e-commerce is fueled by factors such as convenience, the widening access to the internet, and the shift in consumer preferences towards online shopping. E-commerce provides convenient access to a variety of almond products, catering to diverse consumer tastes and extending the market reach for almond sellers. This digital platform also enables direct-to-consumer sales, simplifying the distribution process and potentially boosting profit margins for almond producers. For example, in February 2024, as reported by the United States Census Bureau, e-commerce sales reached$1.11 trillion in 2023, marking a 7.6% increase from 2022. Hence, the growing penetration of e-commerce is propelling the growth of the almonds market.
Leading companies in the almonds market are concentrating on the development of innovative products, such as chocolate-dipped almonds, to gain a competitive advantage. Chocolate-dipped almonds are whole almonds covered with a layer of chocolate, typically dark, milk, or white chocolate. For instance, in June 2023, Blue Diamond Growers, a UK-based food company, introduced Chocolate Thin Dipped Almonds, a new line of snack nuts. These chocolate-dipped almonds are completely free of cholesterol, artificial flavors, and colors, and contain 50% less sugar than regular chocolate-covered almonds. They are available in two flavors, double dark chocolate and dark chocolate sea salt caramel. Each serving of dipped almonds contains 170 calories and 5 grams of protein. Thin-dipped almonds are marketed as a guilt-free option for individuals looking to enjoy a sweet snack. The thin chocolate layer enhances the natural crunch of the almonds, making them a delectable and sweet treat.
In January 2023, RPAC LLC, a US-based food manufacturing company, acquired Silver Creek Almonds Co. Inc. for an undisclosed sum. This acquisition will enable RPAC LLC to broaden its almond marketing reach, enhance its product portfolio, and reinforce its market presence. Silver Creek Almonds Co. Inc. is a US-based producer of high-quality almonds.
Major companies operating in the almonds market are The Archer-Daniels-Midland Company, Olam Group, The Hershey Company, Blue Diamond Growers, California Almonds, Wonderful Pistachios & Almonds LLC, HILLTOP RANCH INC, Mariani Nut Company, ALMONDCO AUSTRALIA, Harris Woolf Almonds, Treehouse California Almonds LLC, ROYAL NUT COMPANY, Select Harvests, Almond Ace, Waterford Nut Company, Sran Family Orchards, Harris Family Enterprises, Chico Nut Company, South Valley Farms, Western Nut Company, Jonny Almond Nut Company, RPAC LLC, Campos Brothers Farms, BAPU Almonds Company Inc., JD ALMOND FARMS, Big Tree Organic Farms.
North America was the largest region in the almonds market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the almonds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the almonds market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Almonds, the edible seeds harvested from the almond tree (Prunus dulcis), are typically cultivated in warm temperate regions. Renowned for their high nutritional value, almonds are rich in vitamins, minerals, protein, and healthy fats. They offer versatility and are commonly enjoyed as a snack, incorporated into dishes for added flavor and texture, or processed into various products such as almond milk, butter, and flour.
The primary types of almonds include butter almonds, nonpareil almonds, sweet almonds, peerless almonds, green almonds, and other varieties. Butter almonds, distinguished by their rich and creamy texture, are frequently used in recipes or consumed as a delightful snack. These almonds are available through diverse distribution channels, including online platforms, offline stores, and convenience stores, and find application in various forms such as almond powder, almond oil, almond milk, chocolates, almond paste, almond flour, and cosmetic products. Almonds cater to a range of end users, including bakeries, pharmaceutical companies, dairy producers, home kitchens, and the hospitality industry encompassing hotels and restaurants.
The almonds market research report is one of a series of new reports that provides almonds market statistics, including almonds industry global market size, regional shares, competitors with a almonds market share, detailed almonds market segments, market trends and opportunities, and any further data you may need to thrive in the almonds industry. This almonds market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The almonds market consists of sales of roasted almonds, marcona almonds, smoked almonds, raw almonds, and blanched almonds. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Table of Contents
Executive Summary
Almonds Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on almonds market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for almonds? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The almonds market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) by Type: Butte Almonds; Nonpareil Almond; Sweet Almond; Peerless Almond; Green Almond; Other Types2) by Distribution Channel: Online; Offline; Convenience Stores
3) by Application: Almond Powder; Almond Oil; Almond Milk; Chocolates; Almond Paste; Almond Flour; Cosmetic Products
4) by End User: Bakery; Pharmaceutical Companies; Dairy; Home Kitchen; Hotel Or Restaurants
Key Companies Mentioned: The Archer-Daniels-Midland Company; Olam Group; The Hershey Company; Blue Diamond Growers; California Almonds
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- The Archer-Daniels-Midland Company
- Olam Group
- The Hershey Company
- Blue Diamond Growers
- California Almonds
- Wonderful Pistachios & Almonds LLC
- HILLTOP RANCH INC
- Mariani Nut Company
- ALMONDCO AUSTRALIA
- Harris Woolf Almonds
- Treehouse California Almonds LLC
- ROYAL NUT COMPANY
- Select Harvests
- Almond Ace
- Waterford Nut Company
- Sran Family Orchards
- Harris Family Enterprises
- Chico Nut Company
- South Valley Farms
- Western Nut Company
- Jonny Almond Nut Company
- RPAC LLC
- Campos Brothers Farms
- BAPU Almonds Company Inc.
- JD ALMOND FARMS
- Big Tree Organic Farms
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | June 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 9.26 Billion |
Forecasted Market Value ( USD | $ 11.84 Billion |
Compound Annual Growth Rate | 6.3% |
Regions Covered | Global |