Global Almond Market 2024

Almond Market Size

After six years of growth, the global almond market decreased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market hit record highs at $X in 2021, and then reduced in the following year.

Almond Production

In value terms, almond production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2013 when the production volume increased by X%. Over the period under review, global production reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

The country with the largest volume of almond production was the United States (X tons), comprising approx. X% of total volume. Moreover, almond production in the United States exceeded the figures recorded by the second-largest producer, Spain (X tons), sixfold. The third position in this ranking was held by Australia (X tons), with a X% share.

In the United States, almond production expanded at an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Spain (X% per year) and Australia (X% per year).

The global average almond yield stood at X tons per ha in 2022, increasing by X% compared with 2021. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, the yield attained the peak level of X tons per ha; afterwards, it flattened through to 2022. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of almonds were harvested worldwide; which is down by X% on the previous year. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of X%. The global harvested area peaked at X ha in 2021, and then fell slightly in the following year.

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Almond Exports

Exports

In 2022, shipments abroad of almonds increased by X% to X tons, rising for the fourth year in a row after two years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of X%. The global exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, almond exports rose sharply to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, the United States (X tons) was the major exporter of almonds, committing X% of total exports. It was distantly followed by Australia (X tons) and Portugal (X tons), together mixing up an X% share of total exports. The United Arab Emirates (X tons) and Spain (X tons) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to almond exports from the United States stood at X%. At the same time, the United Arab Emirates (X%), Spain (X%), Portugal (X%) and Australia (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2022. The United States (X p.p.), Australia (X p.p.), Portugal (X p.p.), the United Arab Emirates (X p.p.) and Spain (X p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) remains the largest almond supplier worldwide, comprising X% of global exports. The second position in the ranking was held by Australia ($X), with a X% share of global exports. It was followed by the United Arab Emirates, with a X% share.

In the United States, almond exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Australia (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The average almond export price stood at $X per ton in 2022, declining by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. The global export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Spain ($X per ton), while Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (X%), while the other global leaders experienced mixed trends in the export price figures.

Almond Imports

Imports

In 2022, supplies from abroad of almonds increased by X% to X tons, rising for the seventh consecutive year after two years of decline. Over the period under review, imports saw resilient growth. The pace of growth appeared the most rapid in 2016 when imports increased by X%. Global imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, almond imports expanded to $X in 2022. Overall, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Global imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

India was the key importer of almonds in the world, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2022. China (X tons) ranks second in terms of the total imports with a X% share, followed by Spain (X%). The United Arab Emirates (X tons) and Turkey (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to almond imports into India stood at X%. At the same time, China (X%), Spain (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of X% from 2012-2022. By contrast, Turkey (X%) illustrated a downward trend over the same period. India (X p.p.), China (X p.p.) and Spain (X p.p.) significantly strengthened its position in terms of the global imports, while Turkey saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported almonds worldwide, comprising X% of global imports. The second position in the ranking was taken by China ($X), with an X% share of global imports. It was followed by the United Arab Emirates, with a X% share.

In India, almond imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The average almond import price stood at $X per ton in 2022, remaining constant against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by X%. Global import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other global leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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