Market Insights Consumer Food Fruits & Nuts

Nuts - Philippines

Philippines

Revenue in the Nuts market amounts to €120.80m in 2024. The market is expected to grow annually by 6.49% (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 €1.01 are generated in 2024.
In the Nuts market, volume is expected to amount to 23.16m kg by 2029. The Nuts market is expected to show a volume growth of 4.3% in 2025.
The average volume per person in the Nuts market is expected to amount to 0.2kg in 2024.

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

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Región

Comparación de regiones

Moneda

Analyst Opinion

The Nuts Market in the Philippines is currently experiencing minimal growth, influenced by factors such as fluctuating consumer preferences, economic challenges, and competition from other food products. Despite this, the market is expected to continue expanding in the coming years due to the growing demand for healthy and convenient snacking options.

Customer preferences: Consumers in the Philippines are increasingly turning towards healthier snack options, leading to a growing demand for nuts in the Fruits & Nuts Market within The Food market. This trend is driven by a rise in health consciousness and a desire for convenient, on-the-go snacks. Additionally, there is a growing preference for locally sourced and sustainably produced nuts, reflecting a cultural appreciation for traditional and natural foods. This shift in consumer preferences is also supported by the rising disposable income and changing lifestyle patterns in the country.

Trends in the market: In the Philippines, the Nuts Market of the Fruits & Nuts Market within The Food market is seeing a surge in demand for healthier snacking options, driving the sales of nuts as a nutritious and convenient option. This trend is expected to continue with the increasing focus on health and wellness among consumers. Additionally, the rise of e-commerce and online grocery shopping in the Philippines is providing easier access to a variety of nuts, creating new opportunities for industry players to expand their market reach. This trend is significant as it reflects the shifting consumer preferences towards healthier food choices and presents potential growth prospects for stakeholders in the Nuts Market.

Local special circumstances: In the Philippines, the Nuts Market of the Fruits & Nuts Market within The Food market is heavily influenced by the country's tropical climate and rich agricultural resources. Local farmers are able to grow a wide variety of nuts, including cashews, peanuts, and almonds, which are popular among both local consumers and for export. Additionally, the country's strong cultural tradition of snacking on nuts has contributed to the market's growth. Furthermore, the Philippines' lenient regulations on nut imports also play a role in the market's dynamics, allowing for a diverse range of nut products to be available to consumers.

Underlying macroeconomic factors: The Nuts Market of the Fruits & Nuts Market within The Food market in the Philippines is influenced by macroeconomic factors such as trade policies, currency exchange rates, and government regulations. The Philippines has a growing economy with a strong focus on agriculture, making it a key player in the global nuts market. Furthermore, the country's favorable trade agreements with other countries and its stable currency make it a desirable market for international nut producers. Additionally, the growing health-conscious population in the Philippines is driving demand for healthier snack options, leading to an increased consumption of nuts. With the government's emphasis on promoting sustainable agriculture and supporting local farmers, the nuts market is expected to continue its upward trend in the coming years.

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.