Almonds market in Southern Europe

Earlier Report Observations

The almond market in Southern Europe saw volume fluctuations between 2018 and 2020. Quality standards for Spanish almond exports, promoted by industry bodies, facilitated overseas sales. At the same time, almond cultivation area expanded by 45% over the past decade, boosting production capacity. Despite emerging spring frosts that would later damage crops, production rose to 559 thousand tons in 2020, helping market volume reach 623 thousand tons.

Severe frosts significantly reduced Spanish almond output by 32.5% in 2022, pulling market volume down to 454 thousand tons. Imports increased to partly offset the shortfall, while domestic consumption in Spain surged by 32.6% between 2022 and 2023, driven by EU-cofinanced promotion campaigns for European almonds and a growing consumer preference for healthy, sustainable snacks. By 2023, production recovered to 482 thousand tons, and market volume rebounded to 548 thousand tons, supported by product innovation such as almond milk and organic options.

Spanish almond production is recovering from the frost-affected years, with the Common Agricultural Policy encouraging organic cultivation. Global trade shifts, including record Australian harvests and changing import patterns, are influencing the European market. Domestic consumption in Spain continues to grow, solidifying European almonds as a healthy and sustainable choice.

Production almonds in Southern Europe

In kind, 2017-2020, K t

Top producers of almonds, 2017-2020

World map of production of almonds, 2017-2020

Southern Europe's almond production has increased for the third consecutive year. In 2020, the region produced 559.0 K t of almonds, marking an 18.2% rise compared to the previous year. From 2017 to 2020, production grew by 39.1%, which translates to an annualized rate of 11.6%.

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

In value, 2017-2020, M $ US

In 2020, the value of almond output in Southern Europe reached 4 299 M $ US, showing a slight increase of 2.6% from 2019. Over the period from 2017 to 2020, production value rose by 15.3%, with an annualized growth rate of 4.9%. The largest decline occurred in 2019 at 1.4%, while the biggest increase was in 2018 at 14.0%.

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

Exports almonds from Southern Europe

Exports in kind, K t

Cross-border shipments of almonds from Southern Europe have increased for the third year in a row. In 2020, the region exported 116.2 K t of almonds, which is 8.7% higher than the previous year. From 2017 to 2020, exports grew by 50.4%, with a compound annual growth rate (CAGR) of 14.6%.

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

The country composition of exports in kind from 2017 to 2020 was dispersed. Germany accounted for 20.9% of exports in kind, France for 16.9%, and the United States for 5.5%, together making up just 43.2% of total flows. The remaining 56.8% was distributed among a wide range of other destinations.

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

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

Exports in value, M $ US

After a two-year rise, almond exports from Southern Europe declined. In 2020, the region exported 894 M $ US of almonds, reflecting a limited decrease of 5.7% year-over-year. From 2017 to 2020, exports increased by 24.7%, with a CAGR of 7.6%. The maximum value was recorded in 2019 at 948 M $ US, which also saw the largest increase of 17.8%.

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

From 2017 to 2020, Germany, France, and the United States were the largest buyers of almonds from Southern Europe in value terms, with shares of 22.2%, 18.0%, and 8.1%, respectively. However, their combined contribution was limited to 48.3% of total exports in value terms, indicating a diversified country structure.

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

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

Imports almonds to Southern Europe

Imports in kind, K t

Almond imports into Southern Europe have increased for the third consecutive year. In 2020, imports stood at 180.3 K t, which is 5.1% higher than the previous year. Between 2017 and 2020, imports rose by 12.2%, equating to an annualized rate of 3.9%.

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

From 2017 to 2020, imports in kind of almonds to Southern Europe were largely concentrated on the United States, which accounted for 73.2% of total flows. Other countries together formed the residual share.

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

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

Imports in value, M $ US

After a two-year rise, the value of imported almonds into Southern Europe declined. In 2020, imports stood at 1 055 M $ US, equivalent to a measured drop of 3.2% relative to the prior year. Between 2017 and 2020, imports increased by 13%, with an annualized rate of 4.2%. The maximum value was recorded in 2019 at 1 090 M $ US, while the largest increase occurred in 2018 at 8.1%.

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

In 2017–2020, the United States absorbed 74.6% of total imports in value terms of almonds to Southern Europe, with the balance spread across a wide range of smaller destinations.

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

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