Nuts - Nordics | Statista Market Forecast

Revenue in the Nuts market amounts to US$838.50m in 2024. The market is expected to grow annually by 3.90% (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$29.89 are generated in 2024.
In the Nuts market, volume is expected to amount to 67.27m 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 2.2kg 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 the Nordics is experiencing minimal growth, influenced by factors such as low consumer health awareness and limited access to online services. Despite this, the market's growth is still driven by the increasing adoption of digital technologies.

Customer preferences: As consumers in the Nordics become more health-conscious, there has been a noticeable increase in demand for organic and sustainable nut products. This trend is driven by a growing awareness of the benefits of natural and plant-based diets, as well as a desire to support ethical and eco-friendly food production. Additionally, there is a rising demand for convenient and healthy snacking options, as busy lifestyles and on-the-go eating become the norm in this region.

Trends in the market: In the Nordics, the Nuts Market within the Fruits & Nuts Market is experiencing an increase in demand for organic and sustainably sourced products. Consumers are becoming more health-conscious and are willing to pay a premium for products with transparent and ethical sourcing practices. Additionally, there is a growing trend of incorporating nuts into plant-based diets, driving the market growth. These trends are expected to continue, presenting opportunities for industry stakeholders to differentiate themselves and tap into the growing market for healthy and sustainable food options.

Local special circumstances: In the Nordics, the Nuts market is heavily influenced by the region's focus on sustainability and health-consciousness. Consumers in these countries prioritize organic and locally-sourced products, leading to a rise in demand for premium and niche nut varieties. Additionally, stricter regulations on food labeling and packaging have resulted in increased transparency and consumer trust in the market. This has also encouraged innovation and product differentiation among nut manufacturers to cater to the unique preferences of Nordic consumers.

Underlying macroeconomic factors: The Nuts Market of the Fruits & Nuts Market within The Food market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. The growth of this market is dependent on the overall economic stability of the country, as well as consumer purchasing power and consumer confidence. Additionally, government policies and regulations, such as trade agreements and tariffs, can impact market performance. For example, countries with strong economic growth and stable political environments are likely to see higher demand for nuts, while countries facing economic challenges may experience slower growth due to reduced consumer spending power. Furthermore, fluctuations in exchange rates and commodity prices can also affect the production and export of nuts, ultimately impacting market performance.

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.