Fruits & Nuts - Armenia

Armenia

Highlights

Revenue in the Fruits & Nuts market amounts to US$662.60m in 2024. The market is expected to grow annually by 8.63% (CAGR 2024-2029).
In global comparison, most revenue is generated India (US$135bn in 2024).
In relation to total population figures, per person revenues of US$238.50 are generated in 2024.
In the Fruits & Nuts market, volume is expected to amount to 290.30m kg by 2029. The Fruits & Nuts market is expected to show a volume growth of 6.6% in 2025.0.
The average volume per person in the Fruits & Nuts market is expected to amount to 83.2kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Fruits & Nuts Market in Armenia is experiencing subdued growth, influenced by factors like fluctuating agricultural yields, changing consumer preferences toward healthier options, and the impact of climate conditions on production and supply chains.

Customer preferences: Consumers in Armenia are increasingly prioritizing organic and locally sourced fruits and nuts, reflecting a growing awareness of health and sustainability. This shift is influenced by younger demographics who are more health-conscious and eager to support local agriculture. Additionally, the rise of urbanization is prompting a demand for convenient, ready-to-eat snacks made from dried fruits and nuts. As lifestyles become busier, these products align with the need for nutritious, on-the-go options, driving innovation within the market.

Trends in the market: In Armenia, the Fruits & Nuts market is experiencing a notable shift towards organic and locally sourced products, driven by a health-conscious consumer base that increasingly values sustainability. Younger generations are leading this trend, seeking out nutritious options that support local farmers. Concurrently, urbanization is fueling demand for convenient, ready-to-eat snacks, such as dried fruits and nut mixes, catering to busy lifestyles. This evolution emphasizes the need for innovation among industry stakeholders, as they adapt to changing consumer preferences and enhance product offerings to remain competitive in a dynamic market landscape.

Local special circumstances: In Armenia, the Fruits & Nuts market is uniquely influenced by the country's rich agricultural heritage and diverse climate, which supports a wide variety of high-quality produce. Traditional practices, combined with a strong emphasis on organic farming, resonate with consumers seeking authenticity and sustainability. Cultural factors, such as the importance of hospitality and sharing food, further drive demand for local nuts and fruits during social gatherings. Additionally, government initiatives promoting local agriculture enhance accessibility to organic products, fostering a competitive edge in both domestic and export markets.

Underlying macroeconomic factors: The Fruits & Nuts market in Armenia is significantly shaped by macroeconomic factors, including global agricultural trends, national economic stability, and trade policies. As demand for organic produce rises globally, Armenia's focus on sustainable agricultural practices positions it favorably in international markets. The country's economic health, characterized by moderate growth and inflation control, supports consumer purchasing power. Fiscal policies encouraging investment in the agricultural sector enhance infrastructure and technology adoption. Additionally, global supply chain dynamics and climate change impact production yields, influencing local prices and availability of fruits and nuts, thus affecting market performance.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.