The demand for nuts in Saudi Arabia has displayed a stable yet modest growth pattern over the past decade, standing at 44.0 thousand metric tons in 2023. The historical data indicates fluctuations, such as a significant 7.32% increase in 2015 followed by a slight 2.27% decline in 2016. Recent years have shown minimal variations, with the years 2022 and 2023 both holding steady at a 0% year-on-year change. The compound annual growth rate (CAGR) over the last five years up to 2023 is approximately 0.46%.
Looking ahead, the forecasted data suggests a gradual increase in demand through 2028, with a forecasted CAGR of 0.29% and an overall growth rate of 1.45% within the next five years. This indicates a continued but slow upward trend in nut consumption.
Future trends to watch for include potential changes in dietary preferences, health trends promoting nut consumption, and economic factors influencing consumer purchasing power. Additionally, shifts in global supply chains and the market's response to sustainability concerns may further impact demand.