
U.S. - Almonds - Market Analysis, Forecast, Size, Trends and Insights
U.S.: Almond Market 2023
Almond Market Size in the U.S.
The U.S. almond market totaled $X in 2021, standing approx. at the previous year. The market value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Almond consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.
Almond Production in the U.S.
In value terms, almond production expanded modestly to $X in 2021. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 27%. Almond production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.
In 2021, the average yield of almonds in the United States reduced to X tons per ha, with a decrease of -6.3% against the previous year. Overall, the yield recorded a mild shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 15%. Over the period under review, the average almond yield hit record highs at X tons per ha in 2013; however, from 2014 to 2021, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2021, the total area harvested in terms of almonds production in the United States shrank to X ha, waning by -2.8% compared with the year before. The harvested area increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of 8.3% against the previous year. Over the period under review, the harvested area dedicated to almond production attained the maximum at X ha in 2020, and then shrank in the following year.
Almond Exports
Exports from the U.S.
In 2021, after two years of growth, there was significant decline in overseas shipments of almonds, when their volume decreased by -7% to X tons. Overall, total exports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +34.5% against 2018 indices. The growth pace was the most rapid in 2020 with an increase of 38% against the previous year. As a result, the exports attained the peak of X tons, and then reduced in the following year.
In value terms, almond exports rose modestly to $X in 2021. The total export value increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when exports increased by 9.8% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.
Exports by Country
India (X tons) was the main destination for almond exports from the United States, accounting for a 68% share of total exports. Moreover, almond exports to India exceeded the volume sent to the second major destination, China (X tons), fivefold. Hong Kong SAR (X tons) ranked third in terms of total exports with a 5% share.
From 2012 to 2021, the average annual rate of growth in terms of volume to India amounted to +12.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+10.4% per year) and Hong Kong SAR (-16.4% per year).
In value terms, India ($X) remains the key foreign market for almond exports from the United States, comprising 69% of total exports. The second position in the ranking was held by China ($X), with a 13% share of total exports. It was followed by Hong Kong SAR, with a 5.4% share.
From 2012 to 2021, the average annual rate of growth in terms of value to India amounted to +12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+11.8% per year) and Hong Kong SAR (-14.8% per year).
Export Prices by Country
In 2021, the average almond export price amounted to $X per ton, growing by 12% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 21% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.
Average prices varied somewhat for the major foreign markets. In 2021, the highest price was recorded for prices to Vietnam ($X per ton) and Japan ($X per ton), while the average price for exports to Turkey ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.
Almond Imports
Imports into the U.S.
In 2021, approx. X tons of almonds were imported into the United States; rising by 372% against the previous year's figure. In general, imports, however, recorded a noticeable decline. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.
In value terms, almond imports soared to $X in 2021. Over the period under review, imports showed significant growth. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.
Imports by Country
In 2021, Australia (X tons) constituted the largest supplier of almond to the United States, accounting for a 56% share of total imports. Moreover, almond imports from Australia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), twofold. The third position in this ranking was taken by Spain (X tons), with a 12% share.
From 2012 to 2021, the average annual growth rate of volume from Australia stood at -9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+43.8% per year) and Spain (+24.4% per year).
In value terms, Australia ($X) constituted the largest supplier of almond to the United States, comprising 70% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 14% share of total imports. It was followed by Spain, with a 9.6% share.
From 2012 to 2021, the average annual rate of growth in terms of value from Australia totaled +26.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+45.3% per year) and Spain (+43.0% per year).
Import Prices by Country
The average almond import price stood at $X per ton in 2021, jumping by 22% against the previous year. Over the period under review, the import price enjoyed a significant increase. The growth pace was the most rapid in 2015 an increase of 161%. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the near future.
Prices varied noticeably country of origin: the country with the highest price was Australia ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+38.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the almond market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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