Analysis of Forecast: Nuts Demand in United Arab Emirates
The demand for nuts in the UAE has experienced notable fluctuations from 2014 to 2023. Despite a significant dip in 2015, the market saw a recovery in subsequent years, peaking in 2017. However, the overall trend from 2018 onward reveals a gradual decline, with the demand in 2023 standing at 27.0 thousand metric tons—a 3.57% decrease from the previous year. The CAGR from 2019 to 2023 is calculated at 0.76%, indicating slight annual growth.
Year-on-year variations exhibit instability, with disruptions such as a 33.33% drop in 2015 and a 46.94% decline in 2018. The market trend suggests a deceleration, with minimal positive growth in recent years.
Looking ahead, forecasted data from 2024 to 2028 indicates a continuing downward trend, with an expected CAGR of -2.92%, culminating in a projected demand of 22.5 thousand metric tons in 2028—implying a 13.79% decrease over the forecasted five-year period.
Future trends to watch for:
- Shifts in consumer preferences towards healthier snacking options could influence demand.
- Economic factors and disposable income levels could impact purchasing power and consumption patterns.
- Marketing and product innovation strategies by main players in the market might alter demand trends.
- External factors such as trade policies and import regulations could affect supply and pricing.