Almonds market in Asia

Earlier Report Observations

From 2018 to 2020, the almond market volume in Asia showed initial stability before rising to 979 thousand tons in 2020. This growth aligned with a global record almond harvest that significantly increased worldwide supply. In the preceding year, adverse weather in the United States, a dominant producer, reduced almond output and contributed to a slight market contraction in Asia.

After reaching a peak of 991 thousand tons in 2021, the market declined to 938 thousand tons in 2022 as continued unfavorable U.S. weather conditions constrained global production and sparked supply shortage concerns. Market volume recovered to 974 thousand tons in 2023 despite drought in China affecting major processor Chengde Lulu and persistent production challenges in the U.S., with higher import levels supporting the rebound.

In 2024, global almond production rose by 25%, creating an oversupply that lowered farm-gate prices. The almond milk segment expanded rapidly due to health and wellness trends, attracting new domestic manufacturers and increasing private-label offerings. Markets in Japan and China were further shaped by health-conscious consumption, online retail growth, and advancements in local processing technologies.

Production almonds in Asia

In kind, 2017-2020, K t

Top producers of almonds, 2017-2020

World map of production of almonds, 2017-2020

Asia's almond production has grown for the third year in a row. In 2020, the region produced 661.7 thousand tons of almonds, representing a 3.4% increase compared to the previous year. Looking at the period from 2017 to 2020, production rose by 36.4%, which translates to an average annual growth rate of 10.9%.

Annual dynamics of production in Asia in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Almond production in Asia increased for the second consecutive year. In 2020, the output was valued at 33 971 million US dollars, marking an 18.1% rise from the year before. Between 2017 and 2020, production grew by 23.9%, equivalent to an annualized rate of 7.4%. The lowest value was recorded in 2018 at 26 247 million US dollars, with the largest decline that year at 4.3%.

Annual dynamics of production in Asia in value, 2017-2020, M $ US

Exports almonds from Asia

Exports in kind, K t

Asia's almond export volume declined for the third consecutive year. In 2020, exports stood at 25.9 thousand tons, a sharp drop of 57.2% year-over-year. Over the 2017-2020 period, exports decreased by 73.7%, with an average annual decline of 35.9%.

Annual dynamics of product's exports from Asia in kind, 2017-2020, K t

From 2017 to 2020, almond exports from Asia in volume terms were not heavily concentrated. Russia accounted for 2.1% of exports, Libya for 1.5%, and Germany for 1.2%, with these three countries together making up just 4.8% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Asia in kind, 2017-2020

Exports in value, M $ US

In 2020, almond exports from Asia amounted to 524 million US dollars, a steep decline of 29.1% compared to the previous year. Between 2017 and 2020, exports fell by 22.2%, equating to an annualized decrease of 8.0%. The highest value was recorded in 2019 at 740 million US dollars, with the largest increase that year at 11.2%.

Annual dynamics of product's exports from Asia in value, 2017-2020, M $ US

The structure of almond exports in value terms from 2017 to 2020 can be described as diversified. Libya held 2.8% of exports, Russia 1.6%, and Germany 1.3%, with these three countries together accounting for only 5.7% of total flows, and no single country dominated the market.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Asia in value, 2017-2020

Imports almonds to Asia

Imports in kind, K t

Asia's almond import volume declined for the second consecutive year. In 2020, the region imported 343.2 thousand tons, a measured drop of 6.5% from 2019. Over the 2017-2020 period, imports increased by 17.4%, with an average annual growth rate of 5.5%. The peak was in 2018 at 397.3 thousand tons, with the largest decline in 2019 at 7.6% and the largest increase in 2018 at 35.8%.

Annual dynamics of product's imports to Asia in kind, 2017-2020, K t

From 2017 to 2020, the geographical pattern of almond imports in volume terms was characterized by a strong dominance of the United States, which held a 78.3% share of total flows, while other partners had relatively minor shares.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Asia in kind, 2017-2020

Imports in value, M $ US

After two years of growth, Asia's almond import volume declined. In 2020, imports were recorded at 1 860 million US dollars, a solid contraction of 16.3% from 2019. Over the 2017-2020 period, imports increased by 8.4%, with an average annual growth rate of 2.7%. The highest value was in 2019 at 2 221 million US dollars, with the largest increase that year at 20.0%.

Annual dynamics of product's imports to Asia in value, 2017-2020, M $ US

From 2017 to 2020, the United States remained the leading supplier of almonds to Asia, accounting for 80.5% of total imports in value terms, while the rest was distributed among many other countries.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Asia in value, 2017-2020