Global Almond Market Outlook
Global almond production amounted to 2,657 thousand tonnes in 2015, declining by -1.3% against the previous year level. Overall, the global almond output pursued a pronounced growth from 2007 to 2015. The trend pattern, however, indicated some noticable fluctuations throughout the analyzed period. The total output figures increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2011, when the output figure increased by +16% from the previous year level. In that year, the global almond production attained its maximum volume of 3,008 thousand tonnes. From 2012 to 2015, the total almond output growth failed to regain its strength.
Over the analyzed period, an increase in global almond production was primarily driven by disposable income growth, popularity of healthy eating, and population growth. Furthermore, these key drivers are expected to continue promoting the almond output in the immediate term. This general positive trend was largely conditioned by a measured expansion of the harvested area and solid gains of the yield figures.
The country with the largest volume of the almond output in absolute volumes was the United States (1,535 thousand tonnes), accounting for 58% of global production. Moreover, almond output in the United States exceeded the figures recorded by the world's second largest producer, Australia (193 thousand tonnes), eightfold. The third position in this ranking was occupied by Spain with a share of 6%. From 2007 to 2015, an average annual growth rate of the United States's almond producton stood at +3.0%. The remaining producing countries recorded the following average annual growth rates: Australia (+15.0% per year) and Spain (-1.4% per year).
The world almond harvested area amounted to 1,752 thousand ha in 2015, which was 1.3% more than the previous year figure. The harvested area indicated a slight increase over the period under review, representing a compound annual growth rate of +0.9% from 2007 to 2015. This trend pattern was relatively stable throughout the analyzed period. Over the period under review, the total almond harvested area peaked in 2015, and is likely to continue its expansion in the immediate term, following rising demand for almond globally.
The global average almond yield amounted to 15 thousand hg/ha in 2015, falling by -2.6% from the previous year figure. The yield figures recorded an upward trend over the period under review, with a compound annual growth rate standing at +1.2% from 2007 to 2015. However, the yield levels displayed some little fluctuations over the recent years. The highest almond yields were recorded in 2011, when it peaked at 18 thousand hg/ha. Afterwards, it decreased slightly and then fluctuated around these levels throughout the analyzed period.
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