From 2014 to 2023, the nuts market size in India, measured in Million Metric Tons, experienced fluctuating year-on-year changes. In 2023, the market stood at 2.23 Million Metric Tons, with a modest 0.63% increase compared to 2022. Over the last two years, the market showed a slow but steady rise, with minor increases of approximately 0.63% year-on-year. The last five years indicate an average annual decline of 0.18% (CAGR), highlighting a relatively stagnant trend.
For future projections (2024-2028), the market is expected to grow at a slow pace, with a forecasted 5-year CAGR of 0.43%. By 2028, the market volume is anticipated to reach 2.30 Million Metric Tons. This suggests a cumulative growth rate of around 2.18% over the forecast period.
Future trends to watch for include:
- Increasing consumption driven by health awareness.
- Potential fluctuations due to climatic impacts on nut cultivation.
- Market developments influenced by import-export policies and tariffs.