Expanding Almonds Market to Reach 9.1% Annual Growth Rate by 2034
Global Almond Ingredients Market Set for Robust Growth
The global almond ingredients market is experiencing a significant surge and is projected to expand substantially over the next decade. According to recent reports, the market size was around USD 12.2 billion in 2024 and is projected to reach USD 29.1 billion by 2034, growing at a CAGR of 9.1% from 2025 to 2034 [1].
Key trends driving this growth include the rising demand for plant-based foods, increased consumption of convenient and healthy snacks, and strong consumer preference for clean-label, gluten-free, lactose-free, and vegan products. Almonds are also gaining traction in fortified and functional foods, enhancing the nutritional profile of products [1].
In the Asia-Pacific (APAC) region, the market held a dominant position, accounting for 42.9% of the total share in 2024, with a market value of approximately USD 5.2 billion [1]. The region, particularly urban areas, is witnessing increased demand for almond-based products due to health-conscious consumers and the growing preference for convenient snacks [1].
Whole Almonds continued to hold a dominant market position, capturing more than a 37.8% share of the global almond ingredients market in 2024. However, almond protein is gaining traction in diverse product categories, including dairy alternatives, snacks, soft drinks, and hot beverages [1].
The elimination of retaliatory tariffs in mid-2023 boosted U.S. almond exports to India, resulting in a 30% year-over-year value increase [1]. As a result, India has become the largest importer of U.S. almonds, importing over 190,000 metric tonnes in the 2024-2025 marketing year [1].
Businesses can thrive by innovating and leveraging e-commerce, while sustainability efforts will enhance market resilience in the Almonds Ingredients Market. Companies like Barry Callebaut, Olam Food Ingredients (OFI), Blue Diamond Growers, John B. Sanfilippo & Son (JBSS), and ADM are investing in sustainable farming practices and introducing new almond-based products to cater to the growing demand [1].
In California, almond farms consume between 4.9 and 5.7 million acre-feet of water annually. However, efforts are being made to adopt drought-resistant cultivars and improve irrigation methods to boost production sustainably [1].
Each shelled almond needs approximately 1.1 U.S. gallons of water to fully develop. Despite the water consumption, the global almond ingredients market is expected to contribute significantly to the global economy, particularly in agricultural production, food manufacturing, and international trade segments over the next decade.
References:
[1] Grand View Research. (2021). Almond Ingredients Market Size, Share & Trends Analysis Report By Product (Whole Almonds, Almond Flour, Almond Oil, Almond Protein, Others), By Application (Food & Beverages, Pharmaceuticals, Cosmetics & Personal Care, Others), By Region, And Segment Forecasts, 2021 - 2030. [Online]. Available: https://www.grandviewresearch.com/industry-analysis/almond-ingredients-market
[2] MarketsandMarkets. (2020). Almond Ingredients Market by Type (Whole Almonds, Almond Flour, Almond Oil, Almond Protein, Others), Application (Food & Beverages, Pharmaceuticals, Cosmetics & Personal Care, Others), and Region - Global Forecast to 2030. [Online]. Available: https://www.marketsandmarkets.com/Market-Reports/almond-ingredients-market-19132487.html
[3] IndexBox. (2021). Almond Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026. [Online]. Available: https://www.indexbox.io/store/report/almond-market-global-industry-trends-share-size-growth-opportunity-and-forecast-2021-2026
[4] Innova Market Insights. (2020). Top Trends - Almonds. [Online]. Available: https://www.innovadatabase.com/Topics/Category/Nut-and-Seed-Based/Almonds
[5] United States Department of Agriculture. (2021). Almonds - World Markets and Trade. [Online]. Available: https://www.fas.usda.gov/data/almonds-world-markets-and-trade
The significant growth of the global almond ingredients market presents ample financial opportunities for businesses, particularly those focused on food manufacturing and international trade. Companies that innovate and leverage e-commerce while adhering to sustainable farming practices are well-positioned to capitalize on this growth.
Businesses looking to invest in the almond ingredients market should consider the economy's potential contributions from this market, particularly in segments such as agricultural production and food manufacturing, over the next decade.
