U.S.: Market for Nuts (Prepared Or Preserved) 2023

Market Size for Nuts (Prepared Or Preserved) in the U.S.

In 2021, the U.S. nuts (prepared or preserved) market decreased by -9.7% to $X for the first time since 2014, thus ending a six-year rising trend. Over the period under review, consumption, however, posted buoyant growth. Over the period under review, the market reached the peak level at $X in 2020, and then reduced in the following year.

Production of Nuts (Prepared Or Preserved) in the U.S.

In value terms, nuts (prepared or preserved) production declined to $X in 2021. Over the period under review, production, however, recorded resilient growth. The pace of growth was the most pronounced in 2017 when the production volume increased by 32%. Over the period under review, production hit record highs at $X in 2020, and then shrank in the following year.

Exports of Nuts (Prepared Or Preserved)

Exports from the U.S.

Nuts (prepared or preserved) exports from the United States surged to X tons in 2021, jumping by 20% against the year before. The total export volume increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when exports increased by 21%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, nuts (prepared or preserved) exports skyrocketed to $X in 2021. Over the period under review, total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +13.1% against 2018 indices. The most prominent rate of growth was recorded in 2015 when exports increased by 46% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Canada (X tons) was the main destination for nuts (prepared or preserved) exports from the United States, accounting for a 57% share of total exports. Moreover, nuts (prepared or preserved) exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), sevenfold. The third position in this ranking was taken by China (X tons), with a 7.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Canada stood at +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+2.7% per year) and China (+34.7% per year).

In value terms, Canada ($X) remains the key foreign market for nuts (prepared or preserved) exports from the United States, comprising 46% of total exports. The second position in the ranking was taken by China ($X), with a 12% share of total exports. It was followed by Mexico, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value to Canada amounted to +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+43.7% per year) and Mexico (+5.9% per year).

Export Prices by Country

In 2021, the average nuts (prepared or preserved) export price amounted to $X per ton, remaining constant against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.4%. The pace of growth appeared the most rapid in 2015 when the average export price increased by 21% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was South Korea ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nuts (Prepared Or Preserved)

Imports into the U.S.

In 2021, supplies from abroad of nuts (prepared or preserved) increased by 36% to X tons, rising for the second consecutive year after two years of decline. Overall, imports continue to indicate a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, nuts (prepared or preserved) imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand (X tons), Canada (X tons) and Vietnam (X tons) were the main suppliers of nuts (prepared or preserved) imports to the United States, with a combined 57% share of total imports. These countries were followed by Mexico, the Philippines, Israel, Sri Lanka, Lebanon, Turkey, China, India and Indonesia, which together accounted for a further 37%.

From 2012 to 2021, the biggest increases were recorded for Sri Lanka (with a CAGR of +36.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Vietnam ($X) and Thailand ($X) appeared to be the largest nuts (prepared or preserved) suppliers to the United States, together comprising 61% of total imports. Mexico, the Philippines, Israel, Turkey, India, Sri Lanka, Lebanon, China and Indonesia lagged somewhat behind, together comprising a further 28%.

Among the main suppliers, Sri Lanka, with a CAGR of +34.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average nuts (prepared or preserved) import price stood at $X per ton in 2021, standing approx. at the previous year. Over the last nine-year period, it increased at an average annual rate of +1.0%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 13%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was India ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :