Global Almonds Market Outlook, 2029

The Almonds industry is pivotal in the global agricultural and food sectors, encompassing the cultivation, processing, and distribution of one of the world's most popular tree nuts. Almonds, botanically classified as Prunus dulcis, are renowned for their nutritional richness, versatility in culinary applications, and widespread consumer appeal. Historically, almonds have been cultivated for thousands of years, with origins tracing back to ancient civilizations in the Mediterranean region and Central Asia. They have played significant roles in various cultures and cuisines, valued for their flavour, texture, and health benefits. In numerous communities, almonds have served as cultural symbols for hospitality, prosperity, and fertility. They play a significant role in religious and celebratory customs, and they are frequently utilized to commemorate holidays and life milestones in confections and desserts. Almonds are now a key component of the diversity of cuisines found throughout the world, appearing in both savory and sweet recipes. Various areas of the almond sector are governed by laws and regulations from the government, which guarantee food safety, quality standards, and environmental sustainability. Regulations govern the use of irrigation, pest control, water conservation, and almond production methods in major almond-producing regions such as Australia and California, in the United States. Ensuring compliance with international food safety standards, minimizing environmental impacts, and preserving the health of the almond crop all depend on these regulations.

According to the research report, “Global Almonds Market Outlook, 2029” published by Bonafide Research, the market is expected to grow with a 7.86% CAGR by 2024-29. The dynamic market dynamics are driving the almond industry's excellent prospects for substantial growth. Due to their many culinary uses and nutritional advantages, almonds are becoming a more popular choice as dietary trends around the world shift toward a more natural and healthful diet. Consumer demand has increased for almonds in a number of categories, including snacks, dairy substitutes, and bakery goods, as a result of growing awareness of the high protein content, good fats, and vital vitamins found in almonds. Additionally, the growing acceptance of plant-based diets and lactose-free substitutes encourages the use of almonds. Geographically, important areas experiencing strong growth include those in North America, Europe, and Asia-Pacific. These markets are being driven by rising health consciousness and disposable money. Technological developments in almond farming, harvesting, and processing have increased output and efficiency, satisfying rising demand worldwide. In addition, environmental stewardship and sustainability practices are crucial in determining consumer preferences, market dynamics, and regulatory frameworks. With ongoing innovation in product development and marketing tactics that emphasize the nutritional value and adaptability of almonds, the sector is well-positioned to take advantage of changing dietary trends and increase its share of the Global Food Market.

Market Drivers

• Health and Nutritional Benefits: As the benefits of almonds become more widely acknowledged, the market is expected to rise significantly. They are good for heart health, controlling weight, and general well-being since they are full of minerals including vitamin E, magnesium, and healthy fats. Almond consumption has expanded as a component of healthy diets and as an ingredient in a variety of health meals, snacks, and beverages as a result of consumers' rising awareness of these nutritional advantages. Global demand is being driven by health-conscious customers who are looking for natural and nutritious food options, which is supporting this trend.
• Various Uses in Food Products: Another important factor propelling market expansion is almonds' adaptability in culinary applications. Almonds are extensively utilized in a wide range of culinary products, including snacks, confections, bakery goods, dairy substitutes (such almond butter and milk), and nutraceuticals. These products' nutritional value and sensory appeal are enhanced by their nutty flavor, crunchy texture, and nutritional profile, which appeals to a wide range of customer preferences. Almonds' market reach is further increased by the growing use of them in creative food formulations, such as plant-based and gluten-free goods. Food producers are constantly developing new products and improving existing ones in order to meet the growing demand for more sustainable and healthful food options around the world.

Market Challenges



• Water Shortage and Sustainability Issues: One of the major issues facing the almond market is water shortage, especially in areas like California, USA, where almonds are grown widely. Due to their high water requirements, almonds need a lot of irrigation throughout their growth cycle. Due to the burden that almond cultivation places on water resources, particularly in regions that are prone to drought, its sustainability has come under investigation. This problem has spurred discussions on water management strategies, agricultural techniques, and the implementation of more water-efficient irrigation systems in order to reduce environmental effects and guarantee sustainability over the long run.
• Price Volatility and Market Fluctuations: These two factors pose a significant threat to the almond market. The dynamics of global supply and demand, crop yield-affecting weather, currency exchange rates, and geopolitical developments are some of the factors that impact almond prices. Price fluctuations for almonds can have an effect on growers', processors', and distributors' profitability, creating financial uncertainty and influencing decisions about investments made at every stage of the supply chain. Furthermore, conditions of overstock or undersupply in the market can cause price increases or decreases, which can affect consumer affordability and market stability. Diversification of the supply chain, efficient risk management techniques, and careful observation of market developments are necessary to control price volatility and enable quick adaptation to shifting circumstances.

Market Trends

• Growing Demand for Plant-Based and Dairy Alternatives: Almond-based goods are becoming more popular as a result of the notable trend towards plant-based diets and dairy substitutes. Alternatives like almond milk, almond butter, and almond flour are frequently made from almonds to satisfy the needs of customers looking for lactose-free, vegan, and vegetarian foods. Growing health consciousness, worries about animal suffering, and dietary choices that support sustainability objectives are the main drivers of this trend. Particularly, almond-based beverages have become more well-liked because of their nutty flavor, creamy texture, and nutritional advantages. These attributes make them appealing to a wide range of consumers, including those who are allergic to dairy or have lactose intolerance. In response, producers are broadening their range of products to incorporate almond-based ice creams, yogurts, and cheeses, leveraging the growing inclination towards plant-based foods that emulate conventional dairy products.
• Advantages for Wellness and Health Creating Trends for Snacking: Demand for almonds as a nutritious snack food is surging in the almond market. Because of its low glycemic index, high protein content, healthy fats, and nutrient density, almonds are a well-liked option for people who are concerned with maintaining their weight, feeling full, and improving their general well-being. Almonds' popularity in on-the-go consumption trends can be attributed to its portability and nutritional value. An increase in the number of guilt-free snacking opportunities during the day and a change in eating patterns toward mindfulness have led to a rise in the consumption of almonds. Snacky bars, trail mixes, and savory snacks are increasingly include almonds because they have a crunchy texture and a flavor profile that goes well with a variety of flavor combinations.

Based on the report, the Type segment is segmented into Whole Almond, Almond Pieces, Almond Flour, Almond Milk & Other Types. Whole Almond segment is leading in the Almonds Market due to its versatility in culinary applications, perceived nutritional benefits, and popularity in snacking.

Whole almonds are extensively used in baking, snacking, and as a garnish for yogurt and salads, among other culinary applications. Both individual customers and food manufacturers find their crunchy texture and rich flavor to be enticing as they enhance the sensory experience of foods. Furthermore, whole almonds are seen as a practical and wholesome snack, which adds to their appeal on the international market. In addition, the fact that whole almonds are linked to a host of health advantages is what drives demand for them. Almonds' nutrient-rich composition and low glycemic index are acknowledged for their potential to enhance heart health, weight management, and general well-being. Whole almonds are therefore being included into diets that are more and more wellness- and health-oriented, which is fueling steady demand in both developed and emerging economies. Furthermore, the inclination toward whole almonds is consistent with larger market trends that support natural and minimally processed goods. The perception of whole almonds as a healthy substitute for processed snacks and ingredients is indicative of consumers' increasing inclination towards clean-label products that follow transparent sourcing and production methods. In summary, the Whole Almond sub segment’s dominant position in the almond market may be ascribed to its advantageous nutritional profile, adaptability in the kitchen, appeal to consumers who prefer natural foods, and compatibility with health-conscious lifestyles. All of these elements work together to propel the global market for whole almonds toward strong growth and demand.


Based on the report, the Applications segment is segmented into Direct Consumption /Culinary purpose, Bakery and Confectionery , Cereals and Granola Bars, Nutritional and Health foods, Dairy Products, Other. The Nutritional and Health Foods segment is estimated to grow at a higher growth rate in the Almonds Market due to growing consumer awareness of almonds' health benefits, including their high nutrient content and contribution to heart health and weight management.

Because almonds are well known to be a nutrient-dense food with a host of health benefits, the Nutritional and Health foods sub-segment is leading the almond market in terms of applications. Due to its abundance in vital nutrients including vitamins, minerals, protein, and good fats, almonds are a preferred food among health-conscious people looking for natural and healthful solutions. Almonds improve the nutritional profile and give a crunchy texture and nutty flavor that appeal to consumers when added to health and nutritional goods including energy bars, breakfast cereals, granola mixes, and trail mixes. Almonds are also known to have some health benefits, such as lowering cholesterol and lowering the risk of heart disease, both of which can improve heart health. Additionally, they include a lot of antioxidants, which aid in shielding cells from inflammation and oxidative damage. Almonds' appeal as a nutritious and health food is further enhanced by their potential to help satiety and weight management due to their high fiber and protein content. The growing incidence of lifestyle-related health issues including diabetes, obesity, and heart disease has increased demand for functional foods—foods that provide health advantages beyond simple sustenance. Since almonds are seen as a natural, nutrient-rich food that promotes general wellbeing, they go nicely with this trend. Their adaptability in the kitchen, from savory to sweet recipes, enables food producers to create and cater to diverse consumer preferences in the nutritional and health foods market.

North America is leading the Almonds Market due to its extensive almond cultivation and robust export infrastructure, while APAC is the fastest-growing due to increasing health awareness and rising consumption of almond-based products.

Due to its ideal climate, vast agricultural infrastructure, and well-established methods of almond cultivation—particularly in California, which produces more than 80% of the world's almonds—North America currently holds a dominant position in the Almond Market. The region has greatly increased productivity and quality thanks to its sophisticated farming methods, effective irrigation systems, and robust research and development programs. Furthermore, North America is able to meet the high domestic and worldwide demand for almonds due to its well-established supply chain and strong export channels. The growing consumer consciousness of the health advantages of almonds, including their contribution to heart health and weight control, is driving the market's expansion in North America. On the other hand, because of shifting dietary habits, increased emphasis on healthy eating, and rising disposable incomes, the Asia-Pacific (APAC) region is witnessing the fastest development in the almond market. Almond consumption is rising as a result of the growing middle class in the area and the appeal of Western diet patterns. More market penetration is also made possible by APAC's sizable population base, quick urbanization, and expanding distribution networks. The governments of the APAC region are also encouraging imports and agricultural diversification, which will increase the supply and cost of almonds in the area.



• In July 2023, Olam Group Ltd., a leading food and agri-business supplying food, ingredients, feed, and fibre, completes the acquisition of Club Coffee L.P., one of Canada’s largest roasters of packaged coffee, to the ‘At Home’ segment.
• The Indian cosmetics company Mama Earth raised US$ 40 million in funding in April 2023 to increase the scope of its line of personal care items, which now includes skincare and hair care items made with almond oil.


Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Almonds Market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Type
• Butte Almonds
• Nonpareil Almonds
• Sweet Almonds
• Peerless Almonds
• Green Almonds
• Others

By Applic ation
• Whole Almond
• Almond Pieces
• Almond Flour
• Almond Milk
• Other Types

By End Users
• Direct Consumption /Culinary purpose
• Bakery and Confectionery
• Cereals and Granola Bars
• Nutritional and Health foods
• Dairy Products
• Other

By Distribution Channel
• HyperMart/SuperMart
• Conventional Store
• Specialty Store
• Online Retail

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Almonds industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.