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Long-Term Growth Seen for Emerging Markets

The Almond Board of California’s (ABC) Emerging Markets Subcommittee was formed to focus on development of key markets that have great growth potential for California Almonds but require more efforts in marketing fundamentals, and therefore need a longer time to realize the benefits of promotional efforts.

The ABC’s Global Market Development Analysis, completed in 2011, revealed that the top emerging market opportunities for California Almonds are China, India, S. Korea and Russia. China is the largest growth market among all markets based on incremental volume potential, and the top priority for emerging markets due to projections that the current volume of almond consumption could double there within the next three years.

A significant market attractiveness factor in emerging markets is the enormous consumer potential with growing middle class populations that are able and willing to pay more for high-quality, nutritious foods such as California Almonds. For example, per capita annual consumption in China among target consumers is currently only 0.13 pound per person, but with projected growth over three years, it could reach up to 0.70 pound per person of almonds — an increase of 538%.

While all marketing programs conducted by ABC cover the cornerstones of market development — market access, trade stewardship and marketing — by definition, emerging markets are in the transition stage or middle of the development life cycle. If you’d like to follow Emerging Markets Subcommittee activities, see About the Almond Board on the Almond Board website.

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