ASEAN: Almond Market 2025

Almond Market Size in ASEAN

For the third consecutive year, the ASEAN almond market recorded decline in sales value, which decreased by -52.6% to $X in 2021. Over the period under review, consumption faced a sharp curtailment. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Almond Production in ASEAN

In value terms, almond production soared to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a abrupt shrinkage. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2021 were Singapore (X tons), Myanmar (X tons) and Lao People's Democratic Republic (X tons).

From 2012 to 2021, the biggest increases were in Myanmar (with a CAGR of +0.7%), while production for the other leaders experienced mixed trends in the production figures.

Almond Exports

Exports in ASEAN

In 2021, shipments abroad of almonds was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports enjoyed a temperate expansion. The most prominent rate of growth was recorded in 2018 with an increase of 349%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, almond exports surged to $X in 2021. Over the period under review, exports enjoyed slight growth. The most prominent rate of growth was recorded in 2018 with an increase of 208%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Vietnam (X tons) and Singapore (X tons) represented the main exporters of almonds in 2021, accounting for near 40% and 27% of total exports, respectively. Myanmar (X tons) ranks next in terms of the total exports with a 12% share, followed by Thailand (9.4%) and Lao People's Democratic Republic (9%). Malaysia (X tons) held a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Singapore (with a CAGR of +47.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest almond supplying countries in ASEAN were Vietnam ($X), Singapore ($X) and Thailand ($X), together comprising 91% of total exports.

Singapore, with a CAGR of +47.7%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2021, picking up by 14% against the previous year. Over the period under review, the export price, however, continues to indicate a slight decrease. The growth pace was the most rapid in 2019 an increase of 22% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Vietnam ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+2.7%), while the other leaders experienced more modest paces of growth.

Almond Imports

Imports in ASEAN

Almond imports dropped rapidly to X tons in 2021, which is down by -51% on 2020. Over the period under review, imports showed a sharp descent. The growth pace was the most rapid in 2016 when imports increased by 78% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, almond imports contracted markedly to $X in 2021. In general, imports showed a dramatic contraction. The most prominent rate of growth was recorded in 2016 when imports increased by 53% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Vietnam (X tons) was the major importer of almonds, creating 79% of total imports. Thailand (X tons) ranks second in terms of the total imports with an 11% share, followed by Singapore (4.7%). Malaysia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to almond imports into Vietnam stood at -33.0%. At the same time, Singapore (+6.0%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +6.0% from 2012-2021. By contrast, Thailand (-7.3%) and Malaysia (-10.4%) illustrated a downward trend over the same period. Thailand (+9.8 p.p.), Singapore (+4.6 p.p.) and Malaysia (+2.6 p.p.) significantly strengthened its position in terms of the total imports, while Vietnam saw its share reduced by -19.6% from 2012 to 2021, respectively.

In value terms, Vietnam ($X) constitutes the largest market for imported almonds in ASEAN, comprising 78% of total imports. The second position in the ranking was held by Thailand ($X), with an 8.2% share of total imports. It was followed by Singapore, with a 7.3% share.

In Vietnam, almond imports contracted by an average annual rate of -30.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (-9.7% per year) and Singapore (+7.1% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2021, surging by 11% against the previous year. Over the last nine years, it increased at an average annual rate of +3.7%. The most prominent rate of growth was recorded in 2014 when the import price increased by 35% against the previous year. Over the period under review, import prices attained the peak figure in 2021 and is likely to see gradual growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+13.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform