The US nuts demand witnessed fluctuations between 2014 to 2023, initially showing a downward trend in 2015, followed by significant increments in 2016 and 2018. The demand reached 1.54 million metric tons in 2023, displaying stable growth with a CAGR of 0.89% over the last five years. The trend included minor dips but overall demonstrated a resilient upward trajectory.
Notable year-on-year variations include a substantial jump of 20% in 2016, contrasted by a slight drop of 4.91% in 2015 and a moderate increase of 1.72% in 2023. The years 2019 to 2022 showed consistent, modest growth between 1.88% and 1.96% annually.
Looking forward, the forecasted CAGR from 2024 to 2028 is 1.25%, anticipating a steady upward trend with a total growth rate of 6.39% over these five years. Future trends to watch include potential shifts in consumer preferences towards healthier snacks, increased awareness of nuts' nutritional benefits, and possible supply chain disruptions impacting availability and prices.
