Nuts - Gambia | Statista Market Forecast

Revenue in the Nuts market amounts to US$2.69m in 2024. The market is expected to grow annually by 8.10% (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$0.95 are generated in 2024.
In the Nuts market, volume is expected to amount to 824.30k kg by 2029. The Nuts market is expected to show a volume growth of 6.0% in 2025.0.
The average volume per person in the Nuts market is expected to amount to 0.2kg 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 Gambia has seen a slight growth rate, influenced by factors such as increasing demand for healthy snacks and the convenience of online shopping. This growth is expected to continue as health awareness among consumers rises.

Customer preferences: In Gambia, consumer preferences are shifting towards locally sourced and organic nuts, reflecting a growing demand for sustainable and healthier food options. Moreover, the rising awareness of the health benefits of nuts, coupled with the increasing popularity of vegetarian and vegan diets, has led to a surge in demand for nut-based snacks and spreads. This trend is also influenced by the cultural significance of nuts in traditional Gambian cuisine, where they are used in various dishes and as a source of protein.

Trends in the market: In Gambia, the Nuts Market of the Fruits & Nuts Market within The Food market is experiencing a shift towards organic and sustainably sourced nuts. This trend is driven by consumer demand for healthier and ethically produced food products. As a result, industry players are investing in sustainable farming practices and certifications to meet this demand. This trend is expected to continue, with potential implications for stakeholders such as increased competition for sustainable sources and potential price increases for organic nuts. Additionally, there is a growing focus on value-added nut products, such as nut butters and energy bars, as consumers seek convenient and nutritious snacking options. This presents opportunities for industry players to diversify their product offerings and tap into the growing health and wellness market. Overall, the trajectory of these trends highlights the importance of sustainability and innovation for success in the Nuts Market of the Fruits & Nuts Market within The Food market in Gambia.

Local special circumstances: In Gambia, the Nuts Market of the Fruits & Nuts Market within The Food market is heavily influenced by the country's agricultural landscape and cultural traditions. The majority of nuts are grown and harvested locally, with a focus on sustainable farming practices. Additionally, the demand for nuts in Gambia is driven by the use of nuts in traditional dishes and cultural celebrations. This local demand, coupled with the country's limited access to imported nuts, creates a unique market dynamic that sets it apart from other markets in the region.

Underlying macroeconomic factors: The Nuts Market of the Fruits & Nuts Market within The Food market is greatly impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. Countries with strong economic growth and stable fiscal policies tend to have a higher demand for nuts, thus driving market growth. Additionally, fluctuations in currency exchange rates, trade policies, and consumer purchasing power also play a significant role in the performance of the market. As the global population continues to grow and become more health-conscious, the demand for nutritious and affordable nuts is expected to increase, creating opportunities for market growth in the future.

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.