The demand for nuts in India has shown a fluctuating yet generally increasing trend over the past decade, reaching 2.28 million metric tons in 2023. The year-on-year variation for 2023 was a modest 0.62%, with a five-year CAGR of -0.17%. Notable increases were observed in 2015 (5.02%) and 2018 (14.96%), while a significant dip occurred in 2016 (-9.89%). From 2024 onwards, the demand is forecasted to continue growing at an average five-year CAGR of 0.45%, with a total growth rate of 2.27% by 2028.
Future trends to watch for:
- Potential influence of changing consumer preferences towards healthy snacks
- Impact of economic factors on purchasing power
- Sustainability and production challenges affecting supply
