Almond Kernels Market

Global Almond Kernels Market Size (2024 to 2029)

The global almond kernels market size was worth US$ 11.40 billion in 2024, and it is estimated to reach a value of US$  15.33 billion by the end of 2029, rising at an annual growth rate of 6.10% between 2024 and 2029. Almonds are considered among the most popular nuts in the world. These are the edible seeds of Prunus dulcis (almond tree) and are native to the Middle East. They contain many vitamins and nutrients. Due to their nutritional components, almonds have a wide range of applications in multiple industries. They are used in the manufacture of foods and beverages such as almond milk, almond flour, almond butter, cookies, and others. They are also used in the cosmetic and personal care industries and in the bakery and confectionery industries to make products such as almond oil, ice cream, chocolates, cookies, and others.

Recent Developments

1. Global food and agribusiness giant Olam has announced that it has acquired almond ingredient processor and manufacturer Hughson Nut (HNI) from APB Capital for a total value of $ 54 million. The transaction, which is expected to close in November, will be financed through a combination of internal accruals and existing lines of credit.

2. Olam International has signed a purchase agreement to acquire a 100% interest in Hughson Nut Inc (HNI), a leading almond and ingredient processing company in California, and associated real estate assets of APB Partners for a total business value of $ 54 million. HNI's extensive processing capabilities will allow Olam to offer a fully integrated solution across the entire US almond value chain, including whole processed nuts and value-added ingredients, complementing similar capabilities in Australia and Vietnam.

3. Boston Consulting Group (BCG) continues to expand its digital presence with the acquisition of Kernel Analytics, a leading European consulting firm specializing in advanced analytics and data science. The newly acquired company extends the capabilities of BCG GAMMA, the analytical power of BCG that harnesses world-class analytics and artificial intelligence to unlock the business performance potential of the world's largest companies.

Almond Kernels Market Drivers and Restraints:

With the growing preference of consumers for healthier baked goods, the demand for walnut flour as an alternative to wheat flour in the gluten-free market is on the rise. Also, with the acceptance of the vegan trend by consumers around the world, the demand for almond milk is also growing. Almond milk is a non-dairy alternative to cow's milk that offers consumers a low-fat, high-protein option. These factors are helping to drive the growth of the almond kernels market. Today's consumers are well aware of the ingredients that are used to make cosmetics and personal care products. The demand for products made with natural ingredients is increasing. This creates a positive impact for almond oil and increases the market due to its anti-inflammatory, nutritional and medicinal properties. Additionally, consumers in developing economies have seen a similar impact when looking for healthy and tasty snack options. Almonds perfectly meet these criteria and are, therefore, increasingly used by manufacturers. 

REPORT COVERAGE:

Almond Kernels Market Segmentation:

The Almond kernels Market is segmented by type, application, distribution channel, and region.

Depending on the type,

• forks into Inshell

• Shelled.

According to the application,

• food and beverage industry,

• cosmetic and personal care industry

According to the distribution channel,

• online retailers

• supermarkets/hypermarkets

• specialty stores

• department stores

Impact of covid-19 on Almond kernels Market

Uncertainty about employment increases, with the probability that a point of sale was used in the store that closed. Outlets that will continue to exist will do so with significantly less seating capacity and reduced overall demand due to public perception and a reduction in unjustified departures, which will have an additional impact on the number of employees needed. The return of migrant labor to their home country will also affect the availability of skilled labor and there may be a shortage of people who are well suited to the limited jobs available. It will be a two-sided problem for F&B operators and employees. By being forced to endure this challenge, the F&B industry does so for the benefit of the entire community, although it will take some time to recover from the losses incurred during the closure phase. While the strong performance in the last quarter will be austere, expectations of a strong rebound in the days after the close are not predictable and will be a daunting task. The path to profitability will not be easy and companies will need to adopt innovative and more efficient methods of doing business and creating new sources of income to maintain their presence in the market.

Almond Kernels Market Regional Analysis:

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East and Africa

North America tops the global ranking of the world's largest almond producers after accounting for about 68% of the total almonds produced each year. The European market generates the most important income for the world market for almonds, as the demand for the confectionery company increases exponentially every year. The Asia-Pacific market is expected to grow at a significant rate during the forecast period due to the increasing number of consumers. Emerging economies like China and India are expected to drive industry growth as consumers engage more in busy lifestyles, increasing demand for money-saving foods time like almond yogurt, cookies, and the alike.

Almond Kernels Market Key Players

1. Mariani Nut Company

2. Harris Family Enterprises

3. Select Harvest USA

4. Bakers Authority

5. The Wonderful Company LLC

6. Nutraj, Sunbest Natural

7. Terrasoul Superfoods

8. Blue Diamond Growers

9. WeGotNuts.