Between 2014 and 2023, the demand for nuts in Kenya has shown a significant decline. Starting from a peak of 48 thousand metric tons in 2014, it has continuously decreased, reaching 25 thousand metric tons in 2023. The year-on-year variation in 2023 was -3.85%, while the Compound Annual Growth Rate (CAGR) over the last five years was -4.82%. The most drastic decreases were noted in 2017, with a year-on-year drop of -33.33%, followed by partial rebounds and continued declines.
The forecasted data from 2024 to 2028 suggest a continued downward trend, with the demand expected to fall to 18 thousand metric tons by 2028. The forecasted five-year CAGR is -4.78%, indicating a sustained reduction in demand.
Future trends to watch for:
- Potential economic shifts in Kenya that could influence consumer purchasing power.
- Changing dietary preferences and health trends that might impact nut consumption.
- Developments in local agriculture and supply chain efficiencies that could affect availability and price.
