Nuts - Bulgaria | Statista Market Forecast

Revenue in the Nuts market amounts to US$73.54m in 2024. The market is expected to grow annually by 4.44% (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$11.11 are generated in 2024.
In the Nuts market, volume is expected to amount to 21.21m kg by 2029. The Nuts market is expected to show a volume growth of 2.7% in 2025.0.
The average volume per person in the Nuts market is expected to amount to 2.9kg 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 Bulgaria is experiencing minimal growth due to various factors, such as low consumer awareness and limited adoption of digital technologies. This is impacting the growth rate, despite the convenience of online services and increasing health consciousness among consumers.

Customer preferences: With the rise of health consciousness and preference for natural and organic products, consumers in Bulgaria are increasingly turning towards nuts as a healthier alternative to traditional snacks. This trend is further fueled by the growing awareness of the nutritional benefits of nuts, such as being a rich source of healthy fats, protein, and essential minerals. Additionally, the demand for nuts is also being driven by the rising popularity of plant-based diets and the growing number of health-conscious consumers.

Trends in the market: In Bulgaria, the Nuts Market of the Fruits & Nuts Market within The Food market is experiencing a rise in demand for organic and sustainably-sourced nuts. This trend is driven by a growing consumer awareness of the health benefits of nuts, as well as a desire for environmentally-friendly products. As a result, industry stakeholders are investing in sustainable sourcing practices and incorporating organic options into their product lines. This trajectory is significant as it aligns with global efforts towards sustainability and healthier food choices. However, it also presents challenges for local producers to meet these growing demands and compete with cheaper imports. As such, there is a need for strategic partnerships and investments in technology to improve production efficiency and meet the changing market demands.

Local special circumstances: In Bulgaria, the Nuts Market of the Fruits & Nuts Market within The Food market is influenced by the country's unique geographical location, situated between Europe and Asia. This has led to a diverse range of nuts being available, including both European and Asian varieties. Furthermore, Bulgaria's rich cultural history heavily influences the types of nuts that are consumed, with traditional recipes and dishes incorporating various nuts. Additionally, the country's regulatory environment plays a role in market dynamics, as there are strict regulations on pesticide use and organic certification for nuts.

Underlying macroeconomic factors: The Nuts Market of the Fruits & Nuts Market within The Food market in Bulgaria is primarily influenced by macroeconomic factors such as consumer spending, economic growth, and government policies. As the country's economy continues to grow, consumers have more disposable income to spend on premium food products, such as nuts. Additionally, favorable government policies, such as tax incentives for healthy food choices, can further boost the demand for nuts in the market. Moreover, with an aging population and increasing awareness of the health benefits of nuts, there is a growing demand for high-quality and healthy food options, driving the growth of the Nuts Market in Bulgaria.

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.