New almond report shows great potential for China’s snack nut market

The “California Almond Innovation Trends White Paper,” a new report jointly released by the Tmall Innovation Center, the Almond Board of California, and the China Chamber of Commerce for Import and Export of Foodstuffs, Native Produce and Animal By-Products, anticipates a strong 8% annual growth rate in China’s nuts and roasted seeds snack market, reaching 222.2 billion Chinese yuan ($31.2 billion) by 2026. Innovations in flavor, cross-category products and the expansion of applications for plant-based products continue to drive increased almond consumption across the country. With the growing emphasis on healthy lifestyle choices among Chinese consumers, healthier snacks such as dried fruits, herbal drinks and ready-to-eat traditional medicine products are rapidly increasing in popularity. By 2024, these snacks will account for half of China’s overall snack market, with a growth rate twice that of the broader snack market. Young consumers are increasingly prioritizing nutritious ...