Nuts - Panama | Statista Market Forecast

Revenue in the Nuts market amounts to US$66.24m in 2024. The market is expected to grow annually by 4.35% (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$14.63 are generated in 2024.
In the Nuts market, volume is expected to amount to 10.09m kg by 2029. The Nuts market is expected to show a volume growth of 2.9% in 2025.0.
The average volume per person in the Nuts market is expected to amount to 2.0kg 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.

For more information on the displayed data, click the info button on the right side of each box.

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 Panama is seeing minimal growth due to factors such as limited consumer awareness, lack of digital infrastructure, and traditional buying habits. Despite this, the market is slowly expanding thanks to increasing health consciousness and the convenience of online purchasing options.

Customer preferences: As consumers become more health-conscious and environmentally aware in Panama, there is a growing demand for sustainably sourced nuts in the Nuts Market of the Fruits & Nuts Market within The Food market. This trend is driven by a desire for healthier and more natural snack options, as well as a preference for products that have a positive impact on the environment. As a result, the market is seeing an increase in the availability of organic and fair trade nuts, catering to the evolving lifestyle choices of consumers.

Trends in the market: In Panama, the Nuts Market of the Fruits & Nuts Market within The Food market is experiencing a surge in demand for healthy and nutritious snacks. This trend is driven by a growing awareness of the health benefits of nuts and consumers seeking more convenient and on-the-go options. As a result, there is an increase in the availability of various types of nuts, such as almonds, cashews, and pistachios, in supermarkets and health food stores. This trend is expected to continue, with an emphasis on sustainable and organic options, creating opportunities for industry stakeholders to tap into this growing market segment. Additionally, there is a rise in the use of nuts in the production of plant-based milk alternatives, further expanding the potential market for nuts in Panama.

Local special circumstances: In Panama, the Nuts Market within the Fruits & Nuts Market of The Food market is heavily influenced by the country's rich biodiversity and tropical climate, which allows for the cultivation of a wide variety of nuts. Additionally, the country's strong cultural ties to agriculture and traditional food practices have fostered a demand for locally-sourced and organic nuts. This, coupled with favorable regulatory policies promoting sustainable farming and exportation, has led to a thriving market for premium, high-quality nuts in Panama.

Underlying macroeconomic factors: The Nuts Market of the Fruits & Nuts Market within The Food market is heavily impacted by macroeconomic factors in Panama. The country's economic growth and stability play a crucial role in the demand for nuts, as consumer purchasing power and disposable income are key drivers of market performance. Fiscal policies such as taxation and trade agreements also influence market dynamics, while global economic trends and fluctuations in exchange rates can affect the availability and cost of imported nuts. Additionally, the growing focus on health and wellness in Panama is driving the demand for healthy snacks, including nuts, leading to market growth.

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.