How Has the Almonds Market Evolved Historically and What is its Current Size?
The almonds market has seen considerable growth due to a variety of factors.
• In recent years, the market size for almonds has seen robust growth. The market is expected to expand from $9.26 billion in 2024 to $9.87 billion in 2025, with a compound annual growth rate (CAGR) of 6.6%.
Factors contributing to the growth during the historical period include dynamics of supply and demand, global trade policies and tariffs, trends in crop yields and harvests, macroeconomic elements, health and nutrition fashions, climate change and sustainability, as well as consumer trends and preferences.
What Does Future Hold for The Almonds Market By 2029?
The almonds market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for considerable expansion in the almonds market in the next few years, with predictions suggesting growth to $12.58 billion by 2029. This expansion is anticipated at a compound annual growth rate (CAGR) of 6.2%.
This projected upsurge over the forecasted period can be accredited to the escalating global demand, alterations in trade policies and market accessibility, health and wellness trends, environmental sustainability considerations, market competitiveness, and product innovation. Key trends for this forecasted period hint at growth in almond plantation areas, advancements in almond farming techniques, initiatives for sustainability and certification, innovative and diversified product development, health and wellness tendencies, changes in international trade, and consumer preference towards sustainable packaging.
What Are The Primary Growth Drivers In The Almonds Market?
The expected growth of the almond market is anticipated to be driven by the increasing influence of online commerce. E-commerce, an internet-enabled business model that allows buying and selling goods and services online, is enjoying a surge in popularity. This uptick is attributed to the convenience it offers, broadening Internet usage, and the changing consumer inclination towards online shopping. With successful e-commerce platforms, shoppers have easy access to a variety of almond products that meet their diverse needs, thereby extending the market accessibility for almond vendors. Another advantage of these digital platforms is their potential to strengthen direct-to-consumer sales, which could simplify the distribution chain and enhance the profits of almond manufacturers. As an example, in the United States, e-commerce sales stood at $1,118.7 billion in 2023, illustrating a 7.6% rise from 2022 as per the United States Census Bureau. Thus, the escalating influence of e-commerce is a key contributor to the expansion of the almond market.
What Is The Segmentation Of The Global Almonds Market?
The almonds market covered in this report is segmented –
1) By Type: Butte Almonds, Nonpareil Almond, Sweet Almond, Peerless Almond, Green Almond, Other Types
2) 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
Subsegments:
1) By Butte Almonds: Non-pareil Butte Almonds, Other Butte Almond Varieties
2) By Nonpareil Almond: Raw Nonpareil Almonds, Processed Nonpareil Almonds
3) By Sweet Almond: Raw Sweet Almonds, Processed Sweet Almonds
4) By Peerless Almond: Raw Peerless Almonds, Processed Peerless Almonds
5) By Green Almond: Fresh Green Almonds, Processed Green Almonds
6) By Other Types: Other Almond Varieties
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How Are New Trends Impacting The Size Of The Almonds Market?
Leading enterprises in the almond market are strategizing on designing unique products like chocolate-dipped almonds to gain a foothold in the market. These chocolate-dipped almonds are whole almonds covered in a chocolate layer, generally dark, milk, or white. For instance, Blue Diamond Growers, a food company based in the UK, launched a new snack nuts range called Chocolate Thin Dipped Almonds in June 2023. These specific chocolate-dipped almonds are devoid of cholesterol, artificial colors, and flavors, and carry 50% less sugar than the usual chocolate-covered almonds. They are offered in two variations - double dark chocolate and dark chocolate sea salt caramel. Each serving of these dipped almonds packs 170 calories and 5 grams of protein. Promoting thin-dipped almonds as a smart selection for those seeking a non-guilty pleasure, the thin chocolate coating augments the almonds' innate crunchiness, delivering a delightful, sweet snack.
Who Are the Key Players In The Almonds Market?
Major companies operating in the almonds market report 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
What Are The Regional Insights Into The Almonds Market?
North America was the largest region in the almonds market in 2024. 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.
