Almonds Market Trends, Market Share, Size, Growth Status And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global Almonds Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The almonds market size has grown strongly in recent years. It will grow from $8.74 billion in 2023 to $9.26 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to Supply and demand dynamics, global trade policies and tariffs, crop yields and harvest trends, macroeconomic factors, health and nutrition trends, climate change and sustainability, and consumer trends and preferences.

The almonds market size is expected to see strong growth in the next few years. It will grow to $11.84 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to global demand growth, trade policies, and market access, health and wellness trends, environmental sustainability, market competition, and product innovation. Major trends in the forecast period include the expansion of almond plantations, technological advancements in almond farming, sustainability initiatives and certification, product innovation and diversification, health and wellness trends, international trade dynamics, and consumer preferences for sustainable packaging.

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Market Drivers and Trends:

Growing penetration of e-commerce is expected to propel the growth of the almonds market going forward. E-commerce refers to the online business model facilitating the exchange of goods and services through the Internet. The growing penetration of e-commerce is driven by convenience, expanding internet access, and shifting consumer preferences towards online shopping. E-commerce facilitates convenient access to various almond products, catering to diverse consumer preferences and expanding market reach for almond sellers. This digital platform also enables direct-to-consumer sales, streamlining the distribution process and potentially increasing profit margins for almond producers. For instance, in February 2024, according to the United States Census Bureau, a US-based government agency, e-commerce sales were $1,118.7 billion in 2023, a 7.6% increase from 2022. Therefore, the growing penetration of e-commerce is driving the growth of the almonds market.

Major companies operating in the almonds market are focusing on developing innovative products, such as chocolate-dipped almonds, to gain a competitive edge in the market. Chocolate-dipped almonds are whole almonds coated in a layer of chocolate, typically dark, milk, or white chocolate. For instance, in June 2023, Blue Diamond Growers, a UK-based food company, launched Chocolate Thin Dipped Almonds, a new line of snack nuts. These chocolate-dipped almonds are entirely free of cholesterol, artificial flavors, and colors and contain 50% less sugar than regular chocolate-covered almonds. They come in two flavors double dark chocolate and dark chocolate sea salt caramel. Each dipped almond serving contains 170 calories and 5 grams of protein. Thin-dipped almonds are marketed as a smart choice for those who want to enjoy a sweet snack without guilt. The thin layer of chocolate enhances the natural crunch of the almonds, making them a delicious, sweet treat.

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Major Key Players of the Market:

The Archer-Daniels-Midland Company, Olam Group, The Hershey Company, Blue Diamond Growers, California Almonds, Wonderful Pistachios & Almonds LLC, HILLTOP RANCH INC, Mariani Nut Company, ALMONDCO AUSTRALIA, Harris Woolf Almonds, Treehouse California Almonds LLC, ROYAL NUT COMPANY, Select Harvests, Almond Ace, Waterford Nut Company, Sran Family Orchards, Harris Family Enterprises, Chico Nut Company, South Valley Farms, Western Nut Company, Jonny Almond Nut Company, RPAC LLC, Campos Brothers Farms, BAPU Almonds Company Inc., JD ALMOND FARMS, Big Tree Organic Farms

Almonds Market 2024 Key Insights:

• The almonds market size is expected to see strong growth in the next few years. It will grow to $11.84 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.
• Growing E-Commerce Penetration Fuels Growth In The Almonds Market
• Chocolate-Dipped Almonds Redefining The Almonds Market Landscape
• North America was the largest region in the almonds market in 2023

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