Market Insights Consumer Food Fruits & Nuts

Nuts - Canada

Canada

Revenue in the Nuts market amounts to €1.90bn in 2024. The market is expected to grow annually by 6.14% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€9,776m in 2024).
In relation to total population figures, per person revenues of €48.68 are generated in 2024.
In the Nuts market, volume is expected to amount to 202.60m kg by 2029. The Nuts market is expected to show a volume growth of 5.1% in 2025.
The average volume per person in the Nuts market is expected to amount to 4.3kg in 2024.

Key regions: India, Canada, Spain, Philippines, United Kingdom

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Analyst Opinion

The Nuts Market in Canada has seen minimal growth due to various factors such as increasing competition, changing consumer preferences, and economic challenges. However, the convenience and health benefits of nuts continue to drive demand in the Fruits & Nuts Market within The Food market.

Customer preferences: As consumers become more health-conscious, the demand for natural and organic nut products is on the rise. This trend is particularly prevalent among younger demographics, who are willing to pay a premium for sustainably-sourced and ethically-produced nuts. In addition, the growing popularity of plant-based diets has also contributed to the increasing demand for nuts as a healthy and versatile protein source. As a result, manufacturers are introducing new and innovative nut-based products to cater to this evolving consumer preference.

Trends in the market: In Canada, the Nuts Market of the Fruits & Nuts Market within The Food market is experiencing a surge in demand for plant-based protein sources, as consumers become more health conscious and environmentally aware. This trend is expected to continue, with a growing number of consumers seeking out alternative protein options. Additionally, there is a rising trend of incorporating nuts in snacking and as ingredients in various dishes, driving growth in the market. These trends have significant implications for industry stakeholders, as companies may need to adjust their product offerings and marketing strategies to cater to this changing demand. Furthermore, with the increasing popularity of plant-based diets, there is a potential for new players to enter the market and disrupt traditional players with innovative and sustainable nut-based products.

Local special circumstances: In Canada, the Nuts Market of the Fruits & Nuts Market within The Food market is influenced by the country's diverse climate and growing conditions, resulting in a wide variety of high-quality nuts. Additionally, Canada's strong focus on sustainable and organic agriculture has led to a growing demand for locally sourced and environmentally friendly nuts. The country's strict food safety regulations also contribute to the market's reliability and trustworthiness. Furthermore, Canada's multicultural population has led to a diverse palate and increased demand for a variety of nuts, making it a lucrative market for both local and international nut producers.

Underlying macroeconomic factors: The growth of the Nuts Market within the Fruits & Nuts Market in Canada is heavily influenced by macroeconomic factors such as consumer spending power, trade agreements, and government regulations. Canada's strong economy and stable political climate have contributed to a favorable market environment for the nuts industry. Moreover, the increasing trend towards healthy snacking and the growing demand for plant-based protein sources have also positively impacted the growth of the nuts market in Canada. Additionally, the rising awareness of the health benefits of nuts and the availability of a wide range of nut varieties have also contributed to the market's growth.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.