Market Size of Almond Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 10.12 Billion |
| Market Size (2029) | USD 13.27 Billion |
| CAGR (2024 - 2029) | 5.55 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
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Almond Market Analysis
The Almond Market size is estimated at USD 10.12 billion in 2024, and is expected to reach USD 13.27 billion by 2029, growing at a CAGR of 5.55% during the forecast period (2024-2029).
Almonds are widely used as ingredients in manufactured goods, including cereal and granola bars, as snacks, in in-home baking, and at food service outlets. The growing popularity of almonds is, in part, attributed to the rise of plant-based milk, such as almond milk. Almond milk is considered the healthier alternative to regular milk, especially for the lactose-intolerant population, offering consumers a low-fat, high-protein option. Almond milk has become a staple for many supermarkets and coffee shops.
Besides, new branded products and innovative uses of almonds in ice cream, confectioneries, and baked goods have been introduced. For instance, in 2023, Blue Diamond Growers launched a new product called Thin Dipped Almonds, which is available in two flavors, namely double dark chocolate and dark chocolate sea salt caramel. It is cholesterol-free, high in vitamin E, and contains no artificial flavors or colors. In addition, nut flour is expanding as an alternative to regular wheat flour in the gluten-free market, increasing the potential for market growth during the study period.
