Almond Kernel Market: Step towards a Healthy Lifestyle and Forecast Year (2024-2030)

Almond Kernels Market Overview

One of the most often consumed tree nuts worldwide is almond kernels. They originate from the Middle East and are the edible seeds of the almond tree Prunus dulcis. They are packed with vitamins and nutrients. Almond kernels are used in a variety of different businesses because of their nutritional value. They are employed in the production of a variety of foods and drinks, including biscuits, almond milk, almond flour, and almond butter. Additionally, they are employed in the production of goods like almond oil, ice cream, chocolates, cookies, and others in the baking and confectionery sector as well as the cosmetics and personal care sector. Based on type, application, distribution method, and geographic location, the market is categorized. It is divided into shelled and in shell varieties based on kind.

 

It is divided into the food and beverage business, the cosmetics and personal care sector, the bakery and confectionery industry, and other industries depending on the application. It is classified into departmental stores, specialty shops, supermarkets/hypermarkets, and internet retailers based on the distribution channel. It is researched in North America, Europe, South America, Asia-Pacific and Middle East and Africa.

 

 

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Almond Kernels Market Dynamics: Drivers, Opportunities, Challenges & Restraints

Walnut flour is becoming more popular as a gluten-free substitute for wheat flour as consumers' preferences for healthier baked items develop. The demand for almond milk is also rising as consumers all around the world embrace the vegan trend. Consumers have a low-fat, high-protein alternative to cow's milk in the form of almond milk, which is a non-dairy product. These elements are contributing to the market for almond kernels expanding. The substances that are utilized to create cosmetics and personal care products are well known to today's consumers. Products manufactured with natural ingredients are becoming more and more popular. Due to its anti-inflammatory, nutritional, and therapeutic capabilities, this benefits almond oil and expands the market. Additionally. Searching for wholesome and delectable snack options has had a similar effect on consumers in developing nations.

 

Almonds fully satisfy these requirements, and manufacturers employ them more frequently as a result. During the anticipated period, the offline segment's increase in market share will have a substantial impact on market growth. Hypermarkets, supermarkets, budget retailers, and specialty shops are all included in this market sector since they are effective distribution channels and provide customers with a wide selection of almond kernels. Additionally, they provide checks for package flaws and let customers verify the product's expiration date before buying, which is seen to be the most effective marketing strategy. Thus, during the predicted period, these elements contribute to the segment's growth.

 

Almond Kernel Market Opportunities: 

Almond Oil: The global commerce and consumption of almond oil, which is made from the nuts of the almond tree, are referred to as the "almond oil market." In addition to being used in cooking and food preparation, almond oil is frequently found in cosmetics and skincare products. It is well-known for having a high concentration of good fats, vitamins, and minerals, which makes it a popular option for shoppers who are concerned about their health. The rise in popularity of plant-based diets and the rising demand for natural and organic products are both major factors driving the worldwide almond oil market. Spain, Italy, Australia, and the United States are among the countries that generate the most almond oil. There is fierce competition for market share among both small and large businesses in this industry.

 

Sweet Almond Oil: Coherent Market Insights just released a thorough research titled "Global Sweet Almond Oil Market Size, Manufacturers, Supply Chain, Sales Channel and Clients, 2024 to 2030". A thorough review of the Sweet Almond Oil market, including growth drivers, current trends, developments, opportunities, and market dynamics, is provided in the research. Market analysts and researchers have used research methodologies like PESTLE and Porter's Five Forces analysis to evaluate the global sweet almond oil market. The study provides useful advice and accurate and trustworthy industry data to provide readers a better understanding of the present and upcoming market environment. The research also carefully analyses possible market segments, such as product type, application, and end-user, as well as their impact on the market's total size.

 

Almond Kernel Market Challenges: 

Climate Variability: The climate has an impact on almond farming. Weather patterns that are unpredictable, such as droughts and high temperatures, can have an impact on yields and quality.

 

Water Scarcity: Almonds need a lot of water, which raises questions about water use in areas where there is a water shortage. This has sparked discussions about environmentally sound water management techniques.

 

Market Price Volatility: The profitability of growers may be impacted by fluctuations in almond prices brought on by supply-demand imbalances, shifting customer tastes, and external economic variables.

 

Trade Tariffs and Regulations: Global almond trade can be disrupted and market access impacted by international trade dynamics such as tariffs, import/export rules, and geopolitical conflicts.

 

Labor Shortages: A lot of human effort is needed for almond harvesting, and labor shortages may increase expenses and may cause harvest delays.

 

Pest and Disease: Numerous pests and diseases that can lower yields and quality can affect almond trees. Sustainable management of these problems might be difficult.

 

Supply Chain Complexity: There are several steps in the supply chain for almonds, from production to processing to distribution. It can be difficult to ensure efficiency and traceability along the entire chain.

 

Almond Kernel Market Restraints:

Consumer Preferences and Trends: Changes in customer tastes, such as a desire for locally sourced, organic, and non-GMO food, might affect demand and necessitate modifying production procedures.

 

Competition with Alternatives: Almonds must innovate and differentiate themselves from other tree nuts and plant-based sources of protein in order to maintain market dominance.

 

Food Safety and Quality: To prevent product recalls and uphold consumer confidence, it is essential to ensure food safety and maintain quality standards.

 

Technology Adoption: Precision agriculture and data analytics are examples of modern farming technology that can increase efficiency but require investment and customization.

 

Global Economic Factors: The demand for almonds and the price of production are both subject to changes in the economy and currency exchange rates.

 

Long Growing Cycle: Due to the length of the almond tree's growth cycle, producers must invest more money before seeing a return.

 

Almond Kernel Market Trends:

Growing Demand: Due to almonds' alleged health benefits, which include being a source of protein, good fats, and numerous nutrients, consumption of almonds has been continuously rising.

 

Global Production: In order to fulfill the growing demand, major almond-producing nations like the United States, Spain, and Australia have increased output, resulting in a greater global supply.

 

Health Consciousness: Almond sales have increased as a result of customer desire shifting to healthier snack options as a result of increased knowledge about the nutritional benefits of almonds.

 

Plant-Based Diets: Almonds are gaining popularity because many people who eat vegan or plant-based diets choose to eat them.

 

Innovative Products: With the development of almond-based goods including almond milk, almond flour, almond butter, and almond snacks, the almond business has experienced innovation.

 

Sustainability Concerns: Almond cultivation requires substantial water resource, leading to discussions about water usage and the environmental impact of almond farming, particularly in water-scare regions.

 

Fluctuating Prices: Almond prices can be influenced by factors such as weather conditions, global supply and demand dynamics, and trade policies.

 

Almond Kernel Market Regional Analysis

In the market for almond products worldwide, North America commands a 34.9% market share. North America is where around 68% of the world's almonds are produced. Snacks made of almonds are also becoming more popular as a healthier alternative. According to some sources, the increased production, consumption, and exports in this region help it maintain its market share.

 

Due to their many health advantages, almond-based snacks are becoming increasingly popular in the USA. A few of the main drivers of the market's expansion have been the rising need for exceptionally nutritious and healthy food and the worries of a sizable population with a larger rate of obesity. Since almond growing requires a lot of water and California has recently had multiple droughts, water shortage is a major issue in the state. In addition, the export of almonds to China, an important market for North American almond growers, has been hurt by the trade tensions between the US and China. Despite these obstacles, it is anticipated that the North American almond market will expand over the next few years due to rising customer desire for wholesome, plant-based foods.

 

Due to rising demand for wholesome food items and the growing acceptance of plant-based diets, the Asia Pacific almond market has experienced substantial expansion in recent years. Due to their great nutritional value, which includes good fats, protein, fiber, vitamins, and minerals, almonds are regarded as a super food.

 

Almond Kernel Market Segment Analysis

By Type: California almonds held the biggest market share for almonds and are anticipated to rule the market during the projection period. Almonds are divided into Butte Almonds, Nonpareil Almond, Sweet Almond, Peerless Almond, Green Almond, Fritz Almond, Sonara Almond, Ferradual Almond, Molar Almond, California Almond, Mamra Almond, Gurbandi Almond, and Monterey Almond based on kind. California almonds are a food powerhouse and a great source of fiber, protein, healthy fats, and vitamin E, which are useful for decreasing cholesterol, blood pressure, and diabetes. Almonds from California are imported from 90 different countries. Almonds from California are mass-produced and processed, which lowers their cost. Losing weight and improving heart health are both benefits of California almond.

 

By End Use Industry: The market is divided into segments for bakeries, drug manufacturers, dairy, home kitchens, and hotels and restaurants. The bakery category led the market, and it is predicted that this dominance will persist throughout the forecast period. Marzipan and many other bakery pastries and confections are made mostly from almonds. In the baking process, wheat flour is used in place of almond flour. Almonds are used to make almond butter and to thicken sauces.

 

Almond Kernel Market Competitive Landscape

With several prospects for new market entrants and a constant shift in consumer choice toward a healthy lifestyle, the almond sector is extremely competitive. Almond growers around the world have a profitable potential thanks to the use of almonds in numerous industries. Almond prices increased as a result of the increased demand for products that promote immunity and are healthful, including almonds, which disrupted the equilibrium price system. In addition, the size of the local market, the level of competition, available capacity, and local infrastructure all have an impact on the product's value chain. Companies that produce almonds are directly involved in retail and are engaging in e-commerce to take advantage of the market.

 

California Almonds with a revenue of $73.0 million in 2022, Harris Family Enterprises, Ofi with a revenue of $4.7 billion in 2021, Treehouse California Almonds with a revenue of $12.3 Million in 2022, ALMONDCO AUSTRALIA, and Jonny Almond Nut Company with a revenue of $5 Million, are notable almond major players. The number of major stakeholders in the almond industry is enormous and continues to increase as a result of the expanding potential for them to make big profits from the increasing demand for almonds from across the world. To get a competitive edge in the industry, the major businesses are putting growth marketing methods and online discount programs into practice. The major player's tactics, such as product portfolio growth, mergers and acquisitions, geographic expansion, and partnerships, to increase almond market penetration.

 

Almond Kernel Market Scope

Almond Kernel Market
Market Size in 2023	USD 10.11 Bn.
Market Size in 2030	USD 13.65 Bn.
CAGR (2024-2030)	4.38%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By End Use Industry Bakery Dairy Home Kitchen Hotel/Restaurants
	By Type Butte Almonds Nonpareil Almond Sweet Almond Peerless Almond Green Almond California Almond
	By Application Almond Powder Almond Oil Almond Milk Chocolates Almond Paste
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Almond Kernel market Key Players

1. California Almonds

2. Ofi

3. Treehouse California Almonds

4. Harris Family Enterprise

5. Jonny Almond Nut Company

6. Blue Diamond Growers

7. Big Tree Organic Farms

8. The Almond Tree Nut Company

9. Almond Ace

10. BAPU Almond

11. Chico Nut Company