The California almond growers are a happy group, supplying around 80% of the world’s demand. Per capita consumption in the United States has doubled from 1 pound per year in 2008 to 2 pounds per year in 2015. The sales boom has collided with the drought to raise prices 35% between 2014 and 2015.
Consumers are veering away from allergy issues with peanuts to the protein rich almonds. Almond spreads are gaining sales at the rate of 22% annually while peanut butter has fallen 4%. Paleo and gluten free diets are adding to the consumption frenzy. Nut based dairy alternatives (almond milk) have gained nearly 15% in sales in 2015.
Now don’t you wish every fresh produce commodity was enjoying such success in the marketplace? Consumers are looking for new and exciting products to challenge their taste buds while promoting a healthy lifestyle. The almond based products are doing just that and reaping the rewards. It’s time to take a hard look at coconuts.