Nuts - Africa | Statista Market Forecast

Revenue in the Nuts market amounts to US$4.08bn in 2024. The market is expected to grow annually by 8.19% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$11bn in 2024).
In relation to total population figures, per person revenues of US$3.14 are generated in 2024.
In the Nuts market, volume is expected to amount to 722.60m kg by 2029. The Nuts market is expected to show a volume growth of 4.5% in 2025.0.
The average volume per person in the Nuts market is expected to amount to 0.5kg in 2024.

Definition:

The Nuts market covers edible nuts both shelled and unshelled. Nuts are classified as dry, single-seeded fruits that contain a lot of oil. Some examples include almonds, peanuts, walnuts, hazelnuts, and pistachios.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

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Almonds
Peanuts
Walnuts
Hazelnuts
Other nuts
Nut snack packs without other ingredients
Whole nuts in the shell, shelled nuts Nuts
Raw nut, roasted nuts
Salted and unsalted nuts, flavored nuts

Nut and seed mixes (e.g. trail mix)
Out-of-home consumption

The Nuts Market in Africa has been experiencing minimal growth due to factors such as fluctuating prices, limited availability of high-quality nuts, and competition from other food products. Despite this, the market is gradually expanding with increasing demand for healthy and nutritious snacks.

Customer preferences: Consumers in Africa are showing a growing preference for nutritious and healthy snacking options, leading to a rise in demand for nuts. With a growing middle class and increasing health consciousness, there is a shift towards organic and sustainably sourced nuts. This trend is driven by cultural values of holistic well-being and a desire for natural, unprocessed foods. Additionally, the popularity of plant-based diets and the rise of veganism in the region are also contributing to the growth of the nuts market.

Trends in the market: In Africa, the Nuts Market of the Fruits & Nuts Market within The Food market is experiencing a surge in demand for healthy and nutritious snack options, driven by increasing health consciousness among consumers. This has led to a rise in the production and consumption of indigenous nuts, such as macadamia, cashews, and peanuts. Additionally, there is a growing trend of incorporating nuts into various food products, such as spreads, bars, and snacks. This trend is expected to continue as consumers seek out healthier and more sustainable food options. Industry stakeholders should take note of this trend and consider investing in innovative nut-based products to cater to the evolving consumer preferences.

Local special circumstances: In Africa, the Nuts Market of the Fruits & Nuts Market within The Food market is heavily influenced by the continent's diverse geography and cultural preferences. For example, in West Africa, the consumption of groundnuts (peanuts) is a staple in local cuisine, driving the demand for locally grown varieties. In East Africa, cashews are a major export crop, with regulatory policies supporting the growth of the industry. Additionally, the rise of e-commerce and increasing urbanization have opened up new opportunities for market growth, particularly in countries like Nigeria and Kenya.

Underlying macroeconomic factors: The Nuts Market of the Fruits & Nuts Market within The Food market is heavily influenced by macroeconomic factors in Africa. The region's economic growth, fiscal policies, and financial indicators impact the demand for nuts in the market. Countries with stable economic conditions and favorable policies tend to experience higher market growth compared to those facing economic challenges. Additionally, the increasing population and rising disposable incomes in Africa are driving the demand for nuts as a healthy and convenient snack option, further boosting market growth.

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.