Forecast: Nuts Market Size Volume in Nigeria

The nuts market in Nigeria has shown a significant decline in volume from 2014 to 2023, dropping from 328.0 thousand metric tons to 139.0 thousand metric tons in 2023, a year-on-year decrease of 6.71% and a 5-year CAGR of -6.35%. The decline began sharply in 2015 with a 39.02% drop, followed by fluctuating decreases and minor increases, resulting in a steady downward trend. The forecast for 2024 to 2028 suggests a continued decline, with a projected 5-year CAGR of -7.07% and a total decrease of 30.69% by 2028.

Future trends to watch for include the impact of economic policy changes, shifts in consumer preferences towards alternative snacks, and potential improvements in agricultural practices and nut production technology that could influence the overall nuts market size in Nigeria.

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