Almond Market Size & Share Analysis - Growth Trends & Forecasts (2024–2029)

 The Almond Market is estimated at USD 10.12 billion in 2024 and is projected to reach USD 13.27 billion by 2029, growing at a CAGR of 5.55% within this forecast period.

Almonds remain a consumer favorite amid evolving food and beverage trends, aligning well with the increasing demand for transparent, plant-centric innovations, personalized nutrition, and delightful culinary experiences. With their abundant minerals and nutrients, almonds have become a versatile and healthful addition to various food applications, offering substantial nutritional value to consumers. Yet, the high production costs leading to their expensive nature have restricted consumption, especially in economically uncertain regions of developing countries.

According to the Food and Agriculture Organization (FAO), the United States leads in almond production, followed by Spain, Iran, and Australia. The favorable climate, fertile soil, ample sunshine, and robust infrastructure in North America support the entire process from growth to harvesting, processing, and packaging, contributing to heightened almond production. Consequently, the increasing demand due to health benefits and heightened health awareness is anticipated to drive market growth.

Market Trends in the Almond Industry:

Rising Preference for Healthy Snacking

Studies reveal that regular consumption of tree nuts, particularly almonds, correlates with a reduced risk of cardiovascular and coronary heart diseases. This preference for healthy and nutritious snacks is anticipated to sustain growth, especially in developed markets like China and the United States. Increased imports and consumption patterns reflect this trend. Urbanization, evolving lifestyles, and higher disposable incomes are fostering a demand for convenient, healthy on-the-go foods, thereby boosting the ready-to-eat food market. This transition in food habits alongside increased spending capacity drives consumer food expenditure.

Furthermore, manufacturers are introducing innovative, health-focused products featuring almonds either as a whole or as an ingredient, expanding their presence in the global healthy snack segment. These products, catering to vegans and health-conscious consumers, are gaining traction. For instance, PepsiCo launched Hilo Life in March 2021, a low-carb snack brand in North America using defatted almond flour. The product boasts lower fat content and higher protein levels compared to traditional almond flour, catering to evolving dietary preferences.
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