The demand for nuts in China saw overall growth from 2014 to 2023, starting at 3.66 million metric tons in 2014 and reaching 4.02 million metric tons in 2023. This value represents slight annual fluctuations, notably a decline in 2020 due to various market factors, followed by recovery in subsequent years. Specifically, year-on-year variations for the last two years are 0.5% in 2022 and 0.47% in 2023. Additionally, the Compound Annual Growth Rate (CAGR) over the last five years stands at 0.48%.
Future trends to watch for include:
- Sustained demand growth at an average CAGR of 0.39% forecasted over the next five years, suggesting a stable, albeit modest, increase.
- Potential market disruptions due to economic shifts, consumer preferences, and international trade policies affecting supply chains.
- Innovations in nuts processing and marketing, which could drive up demand, as well as increasing health consciousness among consumers boosting nut consumption.
