As significant almond and macadamia orchards reach maturity over the next few years, Australia’s tree nut industry looks set to meet growing international demand according to new industry research. 

 In its just-released report, Australian Tree Nut Outlook – opportunities and risks in almonds and macadamias, agribusiness banking specialist Rabobank says Australia’s tree nut industry is currently in a period of growth.

And, with this, comes the opportunity to meet the growing appetite for tree nuts in export markets – particularly China – as well as develop innovative product offerings to increase local demand.  

Report author and RaboResearch analyst Pia Piggott said positive consumption trends in tree nuts and more broadly in snacking will drive Chinese consumption growth over the next decade. 

“And as China and India, another major tree nut market, have limited domestic production, we expect further growth in imports will be required to meet demand, which Australia's growing production is well placed to provide,” ​she said. 

Other important countries of demand included Vietnam, Spain and Turkey. ​ 

The Rabobank report found Australian almond exports have grown faster than the global average, at nine per cent compound annual growth rate (CAGR) over the past decade compared with global exports at five per cent.

Australia currently accounts for only 9.5 per cent of global almond exports, with 110,000 metric tons kernel weight (KWE) exported in 2023.  

For macadamias, Australia represents 25 per cent of global trade, reaching 17,2000 metric tons KWE in 2023.