Nuts - Western Africa | Statista Market Forecast

Revenue in the Nuts market amounts to US$1.96bn in 2024. The market is expected to grow annually by 8.98% (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$4.74 are generated in 2024.
In the Nuts market, volume is expected to amount to 275.20m kg by 2029. The Nuts market is expected to show a volume growth of 4.5% in 2025.0.
The average volume per person in the Nuts market is expected to amount to 0.5kg 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 Western Africa has seen minimal growth due to factors such as low consumer awareness and limited access to digital technologies. However, increasing health consciousness and convenience offered by online services could drive future growth.

Customer preferences: The Western African region is experiencing a growing trend towards healthier snack options, leading to a rise in demand for nuts. This shift is driven by the desire for more nutritious and natural alternatives to processed snacks. Additionally, the rise in disposable income and urbanization in the region has increased the demand for convenient and healthy on-the-go options, making nuts a popular choice. This trend is expected to continue as consumers become more health-conscious and prioritize their well-being.

Trends in the market: In Western Africa, the Nuts Market of the Fruits & Nuts Market within The Food market is experiencing a surge in demand for healthier snacking options. This trend is driven by increasing health consciousness among consumers and a growing preference for plant-based diets. As a result, there is a rising demand for various nuts such as almonds, cashews, and pistachios. This trend is expected to continue as consumers prioritize nutritious and sustainable food choices. Industry stakeholders can capitalize on this trend by expanding their product offerings and promoting the health benefits of nuts. Furthermore, with the increasing popularity of e-commerce, online sales of nuts are also expected to grow, providing new opportunities for market players.

Local special circumstances: In Western Africa, the Nuts Market of the Fruits & Nuts Market within The Food market is heavily influenced by the region's rich agricultural resources and diverse cultural practices. The market is driven by the traditional consumption of nuts as a staple food, as well as the growing demand for healthy and sustainable snacking options. Additionally, the regulatory environment in the region favors small-scale farming, resulting in a diverse and vibrant market with a wide range of locally produced nuts.

Underlying macroeconomic factors: The growth of the Nuts Market in Western Africa is also influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. Countries with stable economies and favorable fiscal policies are experiencing higher market growth compared to regions with economic challenges and limited government support for the food industry. Additionally, the increasing demand for healthy and natural food options is driving the growth of the Nuts Market in Western Africa, as the region has a large and growing population with a high prevalence of chronic diseases and increasing awareness of the health benefits of nuts.

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.