Nuts - G7 | Statista Market Forecast

Revenue in the Nuts market amounts to US$21.01bn in 2024. The market is expected to grow annually by 2.99% (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$27.00 are generated in 2024.
In the Nuts market, volume is expected to amount to 1.92bn kg by 2029. The Nuts market is expected to show a volume growth of 0.9% in 2025.0.
The average volume per person in the Nuts market is expected to amount to 2.4kg 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 within The Food market in G7 has experienced minimal growth due to factors such as changing consumer preferences towards healthier snack options and increasing competition from alternative sources of protein.

Customer preferences: As consumers in the Nuts Market of the Fruits & Nuts Market within The Food market become more health-conscious, there is a growing demand for natural and organic nut products. This is driven by cultural preferences for clean and sustainable food options, as well as the increasing awareness of the health benefits of nuts. Additionally, the rise of plant-based diets and the popularity of veganism have also contributed to the growth of the natural and organic nut market.

Trends in the market: In the G7 countries, the Nuts Market of the Fruits & Nuts Market within The Food market is experiencing a surge in demand for organic and sustainable options. Consumers are increasingly seeking out healthier and ethically-sourced products. This trend is expected to continue as the focus on healthy and environmentally-friendly choices grows. Industry stakeholders must adapt to this trend by offering more eco-friendly packaging and sourcing practices to remain competitive and attract conscious consumers. Additionally, this trend presents opportunities for new market entrants and innovative product offerings.

Local special circumstances: In the Nuts Market of the Fruits & Nuts Market within The Food market, unique local factors play a significant role in shaping market dynamics. For example, in Japan, the market is influenced by the country's cultural preference for high-quality and premium nuts, leading to an emphasis on product quality and packaging. In the United States, the market is driven by the health-conscious consumer trend, resulting in a growing demand for organic and healthier nut options. These factors differentiate the Nuts Market from other markets and significantly impact consumer behavior and purchasing patterns.

Underlying macroeconomic factors: In the Nuts Market of the Fruits & Nuts Market within The Food market, macroeconomic factors play a significant role in determining market performance. The growth of the market is heavily influenced by global economic trends, such as changes in consumer demand and shifts in trade policies. National economic health also impacts the market, with countries experiencing economic growth and stability showing higher demand for nuts. Fiscal policies, such as taxes and subsidies, can also affect the market by influencing production costs and consumer prices. Other relevant financial indicators, such as inflation rates and exchange rates, also impact market dynamics. Overall, a stable and prosperous macroeconomic environment is crucial for the growth of the Nuts Market within The Food market.

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.