The United States Almond Market is projected to grow at a CAGR of 4.86% to reach US$3.442 billion by 2025, from US$2.589 billion in 2019. The 2019 production conditions were inclusive of but not limited to the experiencing of unusual weather in the early part of the season with significant rainfall during the bloom that reportedly hindered pollination. Nevertheless, the extended bloom period ensured the opportunity to offset disruptions and allow for more overlap between blooming varieties. Moreover, rainfall during the spring season aided in comparatively cooler temperatures which reportedly minimized instances of diseases and pests. However, there were reported instances ofjacket rot and bacterial blast in certain parts of California. Instances of strong winds during the middle of April had reportedly damaged trees. An increase in temperature during the second half of April resulted in the drying of orchards enabling the commencement of fieldwork. Further, during 2019, for all the sample varieties the average kernel weight was 1.54 grams which were unchanged from the average weight recorded in 2018. The Nonpareil average kernel weight was 1.63 grams, down 4.1 % from last year. Out of all the nuts measured, 98.7 % were reportedly healthy.
Further, the value of production during 2019 was in the order of $ 6,094,440 thousand an increase from that of $ 5,602,500 thousand in 2018. The year also registered a production volume of 2,550 million pounds which was an increase from 2,280 million pounds registered during 2018. Moreover, U.S. exports by volume during marketing year 2019/20 was to the tune of 1,648,779 thousand pounds a slight decrease from the previous marketing year’s (2018/19) export volume of 1,687,986. Nevertheless, the U.S. exports by unit value for the marketing year 2019/20 were registered at an average of $ 2.67 per pound which was a slight increase from the previous marketing year's average of $ 2.67 per pound [Source: USDA]. Thus, it can be discerned from the aforementioned that albeit certain minor disruptions the USA almond market is poised for healthy growth during the forecasted period.
During March 2020, the spread of COVID-19 and its remedial responses resulted in a major shift in food consumption behavior and led to an increase in the stay-at-home orders became the new trend. [Source: U.S. BUREAU OF LABOR STATISTICS]. This is going to partly drive the consumption of almonds-based food and beverage products due to the increasing awareness of health. Further, the consumption is also to gather momentum due to an unprecedented demand for plant-based alternatives across the nation. For instance, with an almond milk range the Coca-Cola Co juice brand Simply has as of July 2020, reportedly entered the milk-alternative market. The Simply Almond range is made available in three variants and packaged in 46oz multi-serve bottles. Therefore, such market developments for instance are also expected to reinforce the upward trajectory of the USA almond market trend during the next few years.