Almonds Industry Report by Regional Category Spend, Price Analysis, Key Demand and Price Indicators, and Best Buying Practices

The global almonds market reached a value of about USD 90.75 billion in 2021. The industry is projected to grow at a CAGR of around 2.2% in the forecast period of 2022-2027 to reach a value of about USD 103.41 billion by 2027.

The global almonds industry report comprehensively analyses the sector, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. Almonds offer a wide range of nutrients that consumers can benefit from. Owing to its high nutritional content, it is used in various food applications driving the industry's growth.  In the industry report, the critical demand indicator is the highest category spender by region—North America (the US and Australia).

Industry Definition and Segmentation

The almond tree's tasty and extensively cultivated seed (Prunus amygdalus, also known as Prunus dulcis), native to Iran and neighbouring countries, is known as almond. The almond fruit mistaken for a nut is a drupe, with an external hull and a hard shell holding the seed, which is not a natural nut. It can be consumed raw or roasted and is used in a wide range of dishes and are included in pastries, bread, and other baked items, as well as savoury cuisines from all over the world. The almonds industry report comprises segments by type (Shelled Type, Inshell Type), application (Direct Edible, Food Processing, Kitchen Ingredients), and region (North America, Europe, Asia Pacific, the Middle East, and Africa, and South America).

North America, Europe, Asia Pacific, Middle East & Africa, and South America Regions are Driving the Growth of the Almonds Industry

According to the Food and Agriculture Organization (FAO), the United States is the leading producer of almonds, followed by Spain, Iran, and Australia, according to the Food and Agriculture Organization (FAO). Approximately 70% of almonds are shipped shelled, according to the International Trade Centre (ITC). The almonds market is witnessing significant growth due to the various health benefits that the nut offers. As the consumers become more health-conscious, the demand for foods with high nutritional content is surging. As a result, the industry is expanding. Furthermore, as the prevalence of snacking and consumer preference for healthy ready-to-eat foods increases, the demand for nutritional snacks like almonds is also growing. The introduction of newer products by manufacturers, including almonds as the vital ingredient, is, augmenting the market's growth. Other factors such as changing consumer lifestyles, geriatric population, fast urbanisation, and high disposable income further the market's expansion.

However, unstable prices of raw materials, price fluctuations of the product, and other market substitutes are hindering the market's growth.

Best Procurement Practices

The global almonds industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global almonds regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.

Category Management Studies

Almonds begin their journey at the receiving pit, where they have transported up a screw or spiral conveyor to screens where dirt, twigs, and leaves are removed from the almonds. After being separated by screens, the almonds are passed through machinery that eliminates stones and twigs. After that, the almonds are dried and stored. A conveyor pulls the almonds from storage and feeds them through a hulling cylinder or shear roll. The almonds are put through screens again after the shells have been split and removed to separate the aspirated shells from the almond flesh. Almonds still in their shells are returned to begin the process again. After this procedure, almonds can be packed or transported to a different place for further processing, such as roasted, chopped, salted, or otherwise changing the final product.

Changing Lifestyles and Medical Conditions, Further Driving the Procurement of Almonds

As there is a growing number of people with chronic conditions like lactose intolerance, the demand for other alternatives Is surging. As a result, almond milk provides an option for lactose sensitivity that is lactose-free while still providing nutritional advantages. In addition, the rise in the vegan population is also augmenting the market's potential. Furthermore, the demand for almond-based food and beverage has been fuelled by rising spending power on luxury items, expanding urbanisation, and changing lifestyles. Also, the consumer inclination towards food products labelled as "natural" lack of additives and use of clean-label components is creating growth opportunities for market players.

The regional markets for the industry can be divided into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.

Key Industry Players Mentioned in the Almonds Industry Report

• Olam International Limited
• Blue Diamond Almonds
• ADM, Select Harvest
• JD Almond Farms, Inc

Market Landscape

The almond sector is overall fiercely competitive. A continuous movement in consumer tastes towards a healthy lifestyle presents a variety of chances for new entrants. In this market, variables such as territorial market size, competition intensity, capacity, and demand development via marketing and local infrastructure are expected to impact the product's whole value chain. Additionally, businesses directly involved in retailing are investing in e-commerce platforms to benefit from the increasing industry. Moreover, expanding variety has transformed customer buying behaviour in recent years, and online retailing discount offers have compelled consumers to favour online retailing.

Key Initiatives by Companies

• In Jan 2020, Blue Diamond Growers, leading processor, and marketer of California almonds, announced its first key new product named, Blue Diamond® Protein Powder. This innovative product presents its consumers with protein powder made with 100% real almond protein from superior quality California almonds.
• Olam International Limited’s California based almond team is working along with outsourced experts, in departments covering water management, soil health, biodiversity, bee health and discovering new and innovative ways to run the company’s business diligently.