Nuts - Armenia | Statista Market Forecast

Revenue in the Nuts market amounts to US$53.80m in 2024. The market is expected to grow annually by 7.24% (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$19.37 are generated in 2024.
In the Nuts market, volume is expected to amount to 12.76m kg by 2029. The Nuts market is expected to show a volume growth of 7.1% in 2025.0.
The average volume per person in the Nuts market is expected to amount to 3.6kg 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 Armenia has seen minimal growth due to factors such as limited demand from consumers, high competition, and fluctuating prices. Despite this, the market is expected to continue growing moderately, driven by the increasing popularity of healthy snacking options and the use of nuts in traditional Armenian cuisine.

Customer preferences: Consumers in Armenia are increasingly seeking convenience and health benefits in their food choices, leading to a rise in demand for packaged nuts and nut-based snacks. This trend is driven by busy lifestyles and a growing focus on healthier eating habits. Moreover, there is a shift towards locally sourced and organic nuts, reflecting a preference for sustainable and natural products. This is also influenced by the cultural importance of fresh and high-quality ingredients in Armenian cuisine.

Trends in the market: In Armenia, the Nuts Market within the Fruits & Nuts Market of The Food market is experiencing a trend towards healthier snacking options. As consumers become more health-conscious, there is a growing demand for natural and organic nuts. This trend is expected to continue, with a projected annual growth rate of 4.5% in the coming years. This shift towards healthier snacking has implications for industry stakeholders, as they may need to adapt their production methods and marketing strategies to cater to this demand. Additionally, there is a potential for increased competition in the market as more players enter to capitalize on this trend.

Local special circumstances: In Armenia, the Nuts Market of the Fruits & Nuts Market within The Food market is heavily influenced by the country's rich agricultural history and its diverse landscape. The country's mountainous terrain and Mediterranean climate create ideal conditions for growing a wide variety of nuts, including almonds, walnuts, and hazelnuts. Additionally, the cultural significance of nuts in Armenian cuisine has led to a strong demand for locally grown and produced nuts. This, coupled with favorable government regulations and support for the agricultural sector, has resulted in a thriving nuts market in Armenia.

Underlying macroeconomic factors: The Nuts Market of the Fruits & Nuts Market within The Food market in Armenia is influenced by macroeconomic factors such as the country's agricultural policies, trade agreements, and economic stability. With a growing focus on sustainable agriculture and increasing demand for organic products, the market is expected to experience steady growth. Additionally, the country's favorable investment climate and government support for the agriculture sector contribute to the market's growth. However, fluctuations in global commodity prices and currency exchange rates can impact the market's performance. Furthermore, the country's economic health and fiscal policies also play a crucial role in shaping the market dynamics.

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.