Asia-Pacific: Almond Market 2024

Almond Market Size in Asia-Pacific

The Asia-Pacific almond market expanded notably to $X in 2021, rising by 5.2% against the previous year. The market value increased at an average annual rate of +6.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Almond Production in Asia-Pacific

In value terms, almond production surged to $X in 2021 estimated in export price. The total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -12.3% against 2019 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 52% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

The country with the largest volume of almond production was Australia (X tons), comprising approx. 65% of total volume. Moreover, almond production in Australia exceeded the figures recorded by the second-largest producer, China (X tons), fivefold. Afghanistan (X tons) ranked third in terms of total production with a 12% share.

From 2012 to 2021, the average annual growth rate of volume in Australia totaled +7.9%. The remaining producing countries recorded the following average annual rates of production growth: China (+0.5% per year) and Afghanistan (-5.1% per year).

The average almond yield dropped to X tons per ha in 2021, stabilizing at the year before. Over the period under review, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 9.2%. As a result, the yield attained the peak level of X tons per ha. From 2014 to 2021, the growth of the almond yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The almond harvested area shrank slightly to X ha in 2021, remaining stable against the year before. The harvested area increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of 9.9%. The level of harvested area peaked at X ha in 2020, and then dropped slightly in the following year.

Almond Exports

Exports in Asia-Pacific

In 2021, almond exports in Asia-Pacific skyrocketed to X tons, rising by 60% compared with the previous year's figure. In general, exports, however, showed a abrupt curtailment. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, almond exports soared to $X in 2021. Over the period under review, exports, however, saw a slight downturn. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Australia was the largest exporter of almonds in Asia-Pacific, with the volume of exports amounting to X tons, which was approx. 75% of total exports in 2021. It was distantly followed by Hong Kong SAR (X tons) and Afghanistan (X tons), together committing a 23% share of total exports.

Exports from Australia increased at an average annual rate of +15.0% from 2012 to 2021. At the same time, Afghanistan (+23.3%) displayed positive paces of growth. Moreover, Afghanistan emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +23.3% from 2012-2021. By contrast, Hong Kong SAR (-21.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Australia and Afghanistan increased by +63 and +6 percentage points, respectively.

In value terms, Australia ($X) remains the largest almond supplier in Asia-Pacific, comprising 79% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 16% share of total exports.

In Australia, almond exports increased at an average annual rate of +14.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Hong Kong SAR (-16.9% per year) and Afghanistan (+22.7% per year).

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, increasing by 7.6% against the previous year. Export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, almond export price decreased by -17.9% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 36%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Australia ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+5.9%), while the other leaders experienced a decline in the export price figures.

Almond Imports

Imports in Asia-Pacific

In 2021, approx. X tons of almonds were imported in Asia-Pacific; surging by 13% compared with the year before. Total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +8.6% against 2018 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 47%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, almond imports rose notably to $X in 2021. The total import value increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 21%. 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

India represented the major importing country with an import of around X tons, which resulted at 68% of total imports. It was distantly followed by China (X tons) and Hong Kong SAR (X tons), together generating a 29% share of total imports. Pakistan (X tons) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to almond imports into India stood at +11.6%. At the same time, China (+44.5%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +44.5% from 2012-2021. Pakistan experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-16.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of India and China increased by +35 and +22 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported almonds in Asia-Pacific, comprising 70% of total imports. The second position in the ranking was held by China ($X), with a 22% share of total imports. It was followed by Hong Kong SAR, with a 5.7% share.

In India, almond imports increased at an average annual rate of +10.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: China (+49.2% per year) and Hong Kong SAR (-14.6% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2021, remaining constant against the previous year. Import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, almond import price decreased by -19.7% against 2019 indices. The pace of growth appeared the most rapid in 2014 an increase of 32%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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