The nuts market in Canada has shown a steady increase in volume over the past decade, reaching 110 thousand metric tons in 2023. The market experienced a significant year-on-year growth of over 10% in 2018, but growth has otherwise been moderate, with a year-on-year variation of 0.92% in 2023. The compound annual growth rate (CAGR) for the last five years has been 0.37%. Future forecasts suggest the market will continue to grow, although at a slightly higher average annual rate of 0.71%, leading to a 3.6% increase by 2028.
Future trends to watch for include shifts in consumer preferences towards healthier snack options, potential impacts of climate change on nut production, and evolving import-export dynamics that could affect market volume. Additionally, innovations in nut-based products and sustainable practices may also drive market growth.
