The demand for nuts in Australia has experienced varying trends from 2014 to the present year, 2024. Observing the data in 2023, the demand stood at 129.0 thousand metric tons. Significant fluctuations included a notably steep decline of 8.13% in 2015 followed by a dramatic rise of 16.67% in 2017. From 2018 onwards, growth has generally been positive but modest, with minor oscillations. Over the last two years, the year-on-year variations have been stable, hovering around a 0.78% increase. The compound annual growth rate (CAGR) over the last five years stood at 0.47%.
Looking ahead, the forecasted data suggests a steady, albeit slow, increase in demand. The 5-year CAGR forecast stands at 0.31%, suggesting a 1.55% growth rate over the period from 2024 to 2028. Future trends to watch for include potential impacts from health trends emphasizing nut consumption, changes in dietary patterns, and shifts in supply chain dynamics, which could either accelerate or dampen future demand growth.
