Key regions: India, Canada, Spain, Philippines, United Kingdom
The Nuts Market in the Fruits & Nuts Market within The Food market Worldwide is experiencing slow growth due to factors such as low consumer awareness, limited availability, and high prices. Despite this minimal growth rate, the market is expected to expand as more consumers become health-conscious and seek out convenient online options for purchasing nuts.
Customer preferences: As consumers become more health-conscious, there is a growing preference for natural and organic food products, leading to an increase in demand for nuts as a healthy snacking option. Additionally, with the rise of vegan and plant-based diets, the popularity of nut-based milks, butters and other alternatives has also witnessed a significant surge. This trend is further fueled by the growing awareness of the environmental and ethical impacts of animal-based products.
Trends in the market: In the Nuts Market of the Fruits & Nuts Market within The Food market, there is a noticeable shift towards healthier snacking options. Consumers are increasingly seeking out nuts as a nutritious and convenient on-the-go option. This trend is expected to continue, with the global nut market projected to reach $1.3 billion by 2025. Additionally, there is a growing demand for sustainably sourced nuts, with consumers becoming more environmentally conscious. This presents opportunities for industry stakeholders to differentiate their products and cater to this emerging trend. Moreover, with the rise of e-commerce and online grocery shopping, there is a potential for the nut market to expand its reach and tap into new markets.
Local special circumstances: In China, the Nuts Market of the Fruits & Nuts Market within The Food market is heavily influenced by the country's rising health consciousness and growing demand for healthy snacking options. The market is also impacted by the government's efforts to promote domestic production and reduce reliance on imported nuts. Additionally, China's unique snacking culture, where nuts are often consumed as a traditional gift or in social settings, further drives the market's growth.
Underlying macroeconomic factors: The growth of the Nuts Market within the Fruits & Nuts Market of The Food market is also influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. Countries with strong economic performance and favorable fiscal policies are likely to experience higher market demand for nuts, as consumers have more disposable income to spend on healthy food options. Additionally, the increasing awareness of the health benefits of nuts, coupled with the rising trend of plant-based diets, is driving the demand for nuts in both developed and developing countries.
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.
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