Updated Jan 21, 2023 18:47

Chestnut Market in the United States

Market Overview
The U.S. chestnut market reached $ in , rising by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $. From 2016 to , the growth of the market remained at a somewhat lower figure.


Consumption
After six years of decline, consumption of chestnuts increased by % to tons in . The total consumption volume increased at an average annual rate of +% from 2012 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Chestnut consumption peaked at tons in 2013; however, from 2014 to , consumption stood at a somewhat lower figure.

The revenue of the chestnut market in the United States rose rapidly to $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $. From 2016 to , the growth of the market remained at a lower figure.


Market Forecast
The chestnut market is expected to start a downward consumption trend over the next eight years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eight-year period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Chestnut market in the United States consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
The United States remains a net importer of chestnut; in physical and value terms, imports consistently exceeded exports from 2012 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.