Almonds are edible drupes that are the seeds of the almond tree. Almonds are now mainly produced in the United States, Australia and Spain. There are two types of almonds available in the market, shelled and unshelled. Shelled almonds are easy to eat, eliminating the time-consuming and laborious process of shelling, so they are widely loved by consumers. In 2020, shelled almonds and unshelled almonds accounted for 72.63% and 27.37% of the market, respectively.
Almonds can be eaten straight as a snack, which have a variety of flavors, ranging from savory, toasted, cinnamon or cocoa-coated. Natural almonds can also be processed in different forms (blanched, roasted, sliced, sliced, diced, or ground) for use in toppings or snacks. As a kitchen ingredient, almonds can be made into almond butter, almond flour, and more. In 2020, almonds for direct consumption, food processing and kitchen ingredients accounted for 51.55%, 24.98%, and 21.63%, respectively.
For almond growers, the main raw materials needed to grow almonds are almond trees, fertilizers and pesticides. It can take as long as five to twelve years for an almond tree to start producing almonds. Almond trees account for about 7-12% of total production costs. Commonly used fertilizers for almonds are nitrogen, potassium, phosphorus, boron, etc. For producers engaged in almond processing, the main raw material is almonds. Some producers have their own almond plantations, while others obtain their almonds by partnering with almond growers.
Almonds are Popular Around the World as a Healthy Food
Europe is the largest revenue market in the global almond industry, with a market share of 30.13% in 2015 and 29.22% in 2020, a decrease of 0.91%. In 2020, the market shares of Asia Pacific, Europe, Middle East and Africa, Latin America were 29.24%, 29.22%, 9.88% and 3.23% respectively.
Get the Complete Sample, Please Click:https://www.globalmarketmonitor.com/reports/879442-almonds-market-report.html
Almond enterprises are mainly from the United States, and the industry concentration is moderate. The top three companies are Blue Diamond, Olam International and Wonderful Pistachios & Almonds, with 2019 revenue market shares of 10.65%, 6.36% and 6.03%, respectively.
Almonds have become increasingly popular over the past few years, and world consumption has grown at a high rate every year, which can see a significant increase in demand in developing and developed markets. This strong growth is mainly due to the growing global demand for healthier food products, opening up new opportunities for the almond industry in new products, uses and applications, such as in almond butter, salad toppings, almond milk, confectionary fillings, and healthy and use almonds in energy bars.
With preference for protein-rich diets of developing countries, almonds are no longer a luxury but a necessity. As economies such as China grow, so does their demand for Western food. As more and more people seek meat and dairy alternatives for health, ethical or environmental reasons, the market for meat protein alternatives and nut milks is growing rapidly. Almonds are also a key ingredient in many healthy snacks. In response to increasingly common lifestyle issues such as weight gain, high cholesterol, heart disease, obesity and diabetes, there is a growing demand for healthy foods and snacks. In the United States, almonds are the number one snack nut, largely thanks to investments in nutritional research. The state of California invests about $1.6 million annually in research into the nutritional content and potential health benefits of almonds. These studies add credibility and support continued growth in almond demand.
Diverse Applications of Almonds Are Driving Industry Demand Growth
While almonds themselves are the most commonly used product, the flowers of the almond tree can also be eaten and used as a garnish. Additionally, nut flours are expanding as an alternative to regular wheat flour in the gluten-free market. The market for non-dairy alternatives to almond milk is expanding, offering consumers a low-fat, high-protein option. Almond milk is light in texture and has a nutty flavor and is a dairy-free and vegan alternative to cow\'s milk, which accounts for the largest percentage of non-dairy products consumed in the United States. Launched new branded products and new uses for almonds in cereals, ice cream, confectionary and baked goods. Another new use for almonds is the processing of unripe green amygdala. They are picked early, and chefs at gourmet restaurants use the liquid kernels to add a refined flavor to high-end dishes. There is no doubt that the expansion of the application of almond downstream products will drive the market demand for almonds.
According to data research, the total sales of the global almond market in 2015 was 8167 million US dollars, which increased to 9294 million US dollars in 2020. We predict that the almond market can be worth $15,585 million by 2026. The CAGR of almonds from 2019 to 2026 is 6.13%.
Global demand for nuts is growing, and in order to expand the almond market and drive consumption in different countries, companies that produce or sell almond products can do so through new advertising campaigns and marketing plans. The California Almond Council is currently promoting almonds globally as a healthy snack option, especially good for the heart. To drive long-term growth in China, the Almond Council is targeting Chinese women aged 20-45, especially those living in cities such as Shanghai, Beijing, and Guangzhou, by positioning almonds as a beauty food, advertising that encourages women to include in their skincare routines. Use skin care products that contain almonds. Similar marketing approaches have also been used in South Korea and Japan.
Get the Complete Sample, Please Click:https://www.globalmarketmonitor.com/reports/879442-almonds-market-report.html
We provide more professional and intelligent market reports to complement your business decisions.
Chinese