Almqvist was made an honorary member of the Royal Swedish Academy of Agriculture and Forestry in 1857 and a knight of the Order of the Seraphim in 1882.

Daughter Carolina "Lina" Almqvist married Erik Gustaf Boström, who went on to become Prime Minister of Sweden.

Son Robert Magnus Almqvist reached 80 years of age (1857–1938) and died in Herrnhut, Saxony, Germany.

Son Carl Ludvig Almqvist (1860–1920) was married to Eva Häggström (1878–1962) and the couple took over the Algö estate.

His brother, Johan Magnus Almqvist, was a theologian and politician who served as a member of the Riksdag of the Estates for the clergy class.