Global Almond Market 2025

Almond Market Size

In 2021, the global almond market decreased by -1% to $X for the first time since 2015, thus ending a five-year rising trend. The market value increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Global consumption peaked at $X in 2020, and then fell in the following year.

Almond Production

In value terms, almond production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 24%. Over the period under review, global production attained the maximum level at $X in 2019; afterwards, it flattened through to 2021.

The country with the largest volume of almond production was the United States (X tons), accounting for 55% 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 taken by Australia (X tons), with a 5.5% share.

From 2012 to 2021, the average annual growth rate of volume in the United States totaled +3.0%. The remaining producing countries recorded the following average annual rates of production growth: Spain (+6.7% per year) and Australia (+7.9% per year).

In 2021, the global average yield of almonds declined to X tons per ha, waning by -5.7% compared with the year before. The yield figure increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the yield increased by 13%. As a result, the yield reached the peak level of X tons per ha, and then reduced 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.

In 2021, the global almond harvested area shrank to X ha, approximately equating the previous year. The harvested area increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2017 when the harvested area increased by 5.3%. Over the period under review, the harvested area dedicated to almond production attained the maximum at X ha in 2020, and then dropped slightly in the following year.

Almond Exports

Exports

In 2021, overseas shipments of almonds increased by 6.2% to X tons, rising for the third year in a row after two years of decline. The total export volume increased at an average annual rate of +1.2% 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 2016 with an increase of 15% against the previous year. The global exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, almond exports soared to $X in 2021. The total export value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States represented the key exporter of almonds in the world, with the volume of exports reaching X tons, which was approx. 71% of total exports in 2021. Australia (X tons) held a 13% share (based on physical terms) of total exports, which put it in second place, followed by Portugal (6.8%). The following exporters - Spain (X tons) and Hong Kong SAR (X tons) - each finished at a 5.7% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to almond exports from the United States stood at +3.2%. At the same time, Spain (+47.1%), Portugal (+23.8%) and Australia (+15.0%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the world, with a CAGR of +47.1% 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 the United States, Australia, Portugal and Spain increased by +11, +9, +5.7 and +2.8 percentage points, respectively.

In value terms, the United States ($X) remains the largest almond supplier worldwide, comprising 74% of global exports. The second position in the ranking was held by Australia ($X), with a 13% share of global exports. It was followed by Spain, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value in the United States amounted to +3.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Australia (+14.3% per year) and Spain (+47.8% per year).

Export Prices by Country

In 2021, the average almond export price amounted to $X per ton, growing by 10% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.0%. The pace of growth was the most pronounced in 2013 when the average export price increased by 23% against the previous year. The global export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Portugal (+6.6%), while the other global leaders experienced more modest paces of growth.

Almond Imports

Imports

In 2021, the amount of almonds imported worldwide soared to X tons, picking up by 16% on 2020. In general, total imports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +74.2% against 2015 indices. The most prominent rate of growth was recorded in 2016 with an increase of 38% against the previous year. Over the period under review, global imports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, almond imports rose markedly to $X in 2021. The total import value increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2015 when imports increased by 16% against the previous year. Over the period under review, global imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India was the major importing country with an import of around X tons, which recorded 55% of total imports. China (X tons) took a 19% share (based on physical terms) of total imports, which put it in second place, followed by Spain (7.7%). Hong Kong SAR (X tons), the United Arab Emirates (X tons) and Turkey (X tons) held a little 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%), Spain (+24.8%) and the United Arab Emirates (+7.2%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of +44.5% from 2012-2021. By contrast, Turkey (-8.1%) and Hong Kong SAR (-16.5%) illustrated a downward trend over the same period. While the share of India (+28 p.p.), China (+18 p.p.) and Spain (+6.3 p.p.) increased significantly in terms of the global imports from 2012-2021, the share of Turkey (-3.4 p.p.) and Hong Kong SAR (-24.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported almonds worldwide, comprising 57% of global imports. The second position in the ranking was taken by China ($X), with an 18% share of global imports. It was followed by Hong Kong SAR, with a 4.7% share.

In India, almond imports expanded 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

In 2021, the average almond import price amounted to $X per ton, which is down by -3.8% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 24% against the previous year. Global import price 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 the United Arab Emirates ($X per ton), while Spain ($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 global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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