Eastern Asia: Almond Market 2024

Almond Market Size in Eastern Asia

The East Asian almond market soared to $X in 2021, growing by 38% against the previous year. In general, consumption saw a strong increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Almond Production in Eastern Asia

In value terms, almond production reached $X in 2021 estimated in export price. The total production indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% 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 -4.0% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 64%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

China (X tons) remains the largest almond producing country in Eastern Asia, comprising approx. 79% of total volume. Moreover, almond production in China exceeded the figures recorded by the second-largest producer, Hong Kong SAR (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume in China was relatively modest.

The average almond yield fell modestly to X tons per ha in 2021, remaining relatively unchanged against 2020. The yield figure increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the yield increased by 4.2%. The level of yield peaked at X tons per ha in 2020, and then fell slightly in the following year. 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 amounted to X ha in 2021, remaining constant against the year before. Over the period under review, the harvested area, however, showed a mild reduction. The most prominent rate of growth was recorded in 2019 when the harvested area increased by 2.4%. The level of harvested area peaked at X ha in 2013; however, from 2014 to 2021, the harvested area stood at a somewhat lower figure.

Almond Exports

Exports in Eastern Asia

After two years of decline, overseas shipments of almonds increased by 34% to X tons in 2021. Overall, exports, however, saw a precipitous setback. The pace of growth was the most pronounced in 2016 when exports increased by 62% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, almond exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a abrupt contraction. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Hong Kong SAR (X tons) represented the key exporter of almonds in Eastern Asia, generating 100% of total export.

Hong Kong SAR was also the fastest-growing in terms of the almonds exports, with a CAGR of -21.5% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X) also remains the largest almond supplier in Eastern Asia.

In Hong Kong SAR, almond exports contracted by an average annual rate of -16.9% over the period from 2012-2021.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, surging by 9.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.9%. The most prominent rate of growth was recorded in 2017 when the export price increased by 28%. Over the period under review, the export prices hit record highs in 2021 and is likely to see steady growth in years to come.

As there is only one major export destination, the average price level is determined by prices for Hong Kong SAR.

From 2012 to 2021, the rate of growth in terms of prices for Hong Kong SAR amounted to +5.9% per year.

Almond Imports

Imports in Eastern Asia

In 2021, almond imports in Eastern Asia surged to X tons, growing by 65% compared with 2020 figures. Overall, imports continue to indicate a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, almond imports skyrocketed to $X in 2021. Total imports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.2% 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 decreased by -18.3% against 2019 indices. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

China was the key importing country with an import of around X tons, which accounted for 81% of total imports. It was distantly followed by Hong Kong SAR (X tons), achieving an 18% share of total imports.

China was also the fastest-growing in terms of the almonds imports, with a CAGR of +44.5% from 2012 to 2021. Hong Kong SAR (-16.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +78 percentage points.

In value terms, China ($X) constitutes the largest market for imported almonds in Eastern Asia, comprising 78% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 20% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to +49.2%.

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, growing by 6.1% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 35%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while China amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.2%).

Source: IndexBox Platform

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