Market Insights Consumer Food Fruits & Nuts

Nuts - Serbia

Serbia

Revenue in the Nuts market amounts to US$76.35m in 2024. The market is expected to grow annually by 4.97% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$10,540m in 2024).
In relation to total population figures, per person revenues of US$10.76 are generated in 2024.
In the Nuts market, volume is expected to amount to 12.02m kg by 2029. The Nuts market is expected to show a volume growth of 3.0% in 2025.
The average volume per person in the Nuts market is expected to amount to 1.6kg in 2024.

Key regions: India, Canada, Spain, Philippines, United Kingdom

Market

Region

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Currency

Analyst Opinion

The Nuts Market in Serbia is experiencing minimal growth impacted by factors such as consumer preferences for fresh produce, limited availability of locally grown nuts, and rising competition from imported nuts. Despite this, The Food market in Serbia is expected to see steady growth due to increasing demand for healthy and convenient food options.

Customer preferences: As health and wellness continue to be a growing trend in Serbia, there has been an increase in demand for healthier snacking options, leading to a rise in popularity of nuts. Consumers are also becoming more conscious of the environmental impact of their food choices, driving a shift towards sustainably sourced and organic nuts. Additionally, with the rise of plant-based diets, nuts are seen as a protein-rich and nutritious alternative to meat, appealing to a growing number of health-conscious consumers.

Trends in the market: In Serbia, the Nuts Market of the Fruits & Nuts Market within The Food market is experiencing a shift towards organic and sustainable production methods. This trend is driven by increased consumer awareness and demand for healthier and environmentally-friendly products. As a result, industry stakeholders are investing in sustainable practices, such as reducing water and energy usage, to meet this demand. This trend not only benefits the environment but also presents opportunities for market growth and differentiation for industry players. However, it also poses challenges, such as higher production costs and potential supply chain disruptions.

Local special circumstances: In Serbia, the Nuts Market within the Fruits & Nuts Market of The Food market is heavily influenced by the country's geographical location and rich agricultural heritage. The region's fertile soil and favorable climate contribute to the production of high-quality nuts, making Serbia a major exporter in the European market. Additionally, the cultural preference for healthy and nutritious snacks drives the demand for nuts, while government regulations on food safety and quality control ensure the market's integrity.

Underlying macroeconomic factors: The Nuts Market of the Fruits & Nuts Market within The Food market in Serbia is significantly impacted by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. The country's economic stability and growth potential have a direct influence on consumer spending and demand for nuts. Additionally, changes in exchange rates, inflation rates, and interest rates can affect the cost of production and distribution, ultimately impacting the market's performance. Furthermore, government policies and regulations related to food production and distribution can also have a significant impact on the Nuts Market in Serbia.

Methodology

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.