The Thai nuts market experienced fluctuating volumes from 2014 to 2023. As of 2023, the market size stood steady at 56 thousand metric tons. The year-on-year variation over the last two years was flat at 0%, while the Compound Annual Growth Rate (CAGR) averaged 0.36% over the last five years. In 2015, the market contracted significantly by -18.84%, followed by a recovery of 19.64% in 2016. The market size had a notable drop of -24.66% in 2018 and experienced smaller fluctuations thereafter. Overall, the market showcased a declining trend, evident by the -1.12% forecasted CAGR between 2024 and 2028.
Future trends to watch for include:
- **Consumer Preferences:** Shifts towards plant-based diets may influence nut consumption positively.- **Health Trends:** Increasing awareness about the health benefits of nuts can drive market growth.- **Import Policies:** Changes in import tariffs and trade agreements could impact supply dynamics.- **Economic Factors:** A stronger economy may enhance purchasing power, potentially boosting nut consumption.
