Latin America Almond Kernels Market is expected at USD 0.89 billion in 2024 and is estimated to be growing at a CAGR of 7%, to reach USD 1.24 billion by 2029.
The fruit of an almond is a drupe which consists of an outer hull and a hard shell covering the seed or kernel. The process of removal of shell of almond is termed shelling, and the almonds are sold shelled or unshelled. There are two types of almonds. Sweet and bitter-tasting almonds. They are consumed directly or used in sweets and confectionary. Almond Kernels are also used in cosmetics. Primary factors driving the market are increasing awareness regarding the health benefits and uses in functional and fortified foods, increasing use in skin care cosmetics and increasing consumption by health-conscious individuals. However, factors like expensive prices, cultivating complexities and health issues regarding excessive consumption are hindering the growth of the market.
Sweet Type
Bitter Type
Pharmaceuticals
Cosmetics
Brazil
Argentina
Mexico
Rest of Latin America. Brazil holds the major share in the market due to the presence of market leaders as well as a sophisticated food industry and almond’s extensive use in food products. Argentina is the fastest-growing region due to increasing demand and product innovation and increasing disposable income.
Based on Application Food application is the most widespread due to increasing demand for fortified and functional foods while the pharmaceutical segment is expected to grow the fastest due to increasing expenditure on drug discovery and development. Based on Type Sweet Almonds are mostly preferred for food and beverage purposes.
Malyata Apricot
Chitree
Wani Fruit
Royal Rifco
The Raw Chocolate
Hebei Longwangmao
Hebei Yongdeheng
Swanson
Hunza Apricot Kernels
Yesraj Enterprises
Frequently Asked Questions
The market growth is driven by rising health consciousness, increasing demand for plant-based snacks, and the growing awareness of the health benefits of almonds, such as improving heart health and managing weight.
The market in Latin America is significantly influenced by global production trends, particularly from major exporters like the United States (California). Any fluctuations in global supply due to climate or trade policies directly impact pricing and availability in the region.
The major challenges include high import dependence, fluctuating international prices, lack of domestic almond cultivation, and competition from cheaper nut alternatives such as peanuts and cashews.
Opportunities for growth include expanding into emerging markets like Peru and Colombia, developing new almond-based products such as almond milk or almond flour, and capitalizing on the trend toward clean-label and organic food products, particularly in urban areas.
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