Nuts - Guinea | Statista Market Forecast

Revenue in the Nuts market amounts to US$26.85m in 2024. The market is expected to grow annually by 7.38% (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$1.85 are generated in 2024.
In the Nuts market, volume is expected to amount to 3.69m kg by 2029. The Nuts market is expected to show a volume growth of 2.6% 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 Guinea has been steadily growing due to rising health consciousness and the convenience of online services. However, this market is experiencing minimal growth due to the limited availability of nuts in the region and low consumer purchasing power. Other factors such as lack of infrastructure for storage and transportation also impact the growth rate.

Customer preferences: The Nuts Market within the Fruits & Nuts Market of The Food market is seeing a rise in demand for healthier snack options, driving growth in the sales of raw and unsalted nuts. This trend is fueled by increasing awareness of the health benefits of nuts, as well as a growing preference for clean label and natural products. Additionally, with a growing number of consumers adopting plant-based diets, the demand for nut-based dairy alternatives is also on the rise. These shifts in consumer preferences reflect a broader cultural shift towards healthier and more sustainable food choices.

Trends in the market: In Guinea, the Nuts Market of the Fruits & Nuts Market within The Food market is experiencing a surge in demand for organic and sustainably sourced nuts. This trend is driven by increasing consumer awareness and preference for healthy and environmentally friendly food options. Additionally, there is a growing trend of using nuts as a substitute for animal-based proteins, catering to the rising demand for plant-based diets. These trends are expected to continue in the coming years, presenting opportunities for industry players to expand their product offerings and tap into a growing market segment.

Local special circumstances: In Guinea, the Nuts Market of the Fruits & Nuts Market within The Food market is heavily influenced by the country's geographical location and cultural traditions. Guinea is known for its production of high-quality cashews, which are a staple in the local cuisine. The market is also heavily regulated, with strict quality control measures in place to ensure the safety and authenticity of the nuts. Additionally, the country's growing middle class has led to an increase in demand for healthier snack options, further driving the growth of the Nuts Market.

Underlying macroeconomic factors: The Nuts Market of the Fruits & Nuts Market within The Food market is also influenced by macroeconomic factors such as global trade policies, consumer spending trends, and agricultural production. Countries with a strong focus on agricultural development and export are experiencing higher demand for nuts, while regions with unstable economic conditions and low consumer purchasing power are facing challenges in the market. Additionally, the increasing trend towards healthy snacking and rise in vegetarian and vegan diets globally are driving the demand for nuts as a nutritious and plant-based source of protein and energy.

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.