Nuts - Bosnia and Herzegovina | Statista Market Forecast

Revenue in the Nuts market amounts to US$35.36m in 2024. The market is expected to grow annually by 3.74% (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$11.07 are generated in 2024.
In the Nuts market, volume is expected to amount to 6.80m kg by 2029. The Nuts market is expected to show a volume growth of 2.2% in 2025.0.
The average volume per person in the Nuts market is expected to amount to 1.9kg 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 Bosnia and Herzegovina has seen minimal growth due to factors such as low consumer demand and limited availability of online services. Despite this, the market still holds potential for growth as health consciousness and online shopping continue to rise.

Customer preferences: There has been a notable shift towards healthier snacking options in the Nuts Market of the Fruits & Nuts Market within The Food market. This is driven by the increasing awareness of the health benefits of nuts, as well as the demand for plant-based and natural products. Moreover, the rise in flexitarian and vegetarian diets has also contributed to the growing popularity of nuts as a protein-rich snack.

Trends in the market: In Bosnia and Herzegovina, the Nuts Market of the Fruits & Nuts Market within The Food market is experiencing a shift towards organic and sustainably sourced products. Consumers are becoming more health-conscious and are demanding transparency in the production process. This trend is expected to continue, driven by increasing awareness of the environmental and health impacts of conventional farming methods. Industry stakeholders need to adapt to this trend by incorporating sustainable practices and promoting the health benefits of organic nuts. This could potentially lead to increased market share and customer loyalty.

Local special circumstances: In Bosnia and Herzegovina, the Nuts Market within the Fruits & Nuts Market of The Food market is heavily influenced by the country's rich agricultural landscape and traditional nut-growing practices. The region's abundant fertile land and favorable climate make it an ideal location for nut production, resulting in a wide variety of locally grown and harvested nuts. Additionally, the cultural significance of nuts in Bosnian cuisine has led to a strong demand for high-quality, locally sourced nuts. Regulatory factors, such as stringent food safety standards and strict labeling requirements, ensure that the market is supplied with safe and traceable nut products. These unique local factors contribute to the overall growth and success of the Nuts Market in Bosnia and Herzegovina.

Underlying macroeconomic factors: The Nuts Market within the Fruits & Nuts Market of Bosnia and Herzegovina is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. The country's stable economic growth and increasing disposable income of its citizens have resulted in a growing demand for high-quality and healthy food products, including nuts. Furthermore, Bosnia and Herzegovina's strategic location and favorable trade agreements with neighboring countries have opened up opportunities for market expansion and increased international trade. Additionally, the country's focus on promoting sustainable agriculture and investment in modern farming techniques have led to the production of high-quality and competitively priced nuts, making it an attractive market for both domestic and international players.

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.