Updated Sep 20, 2022 06:18

Nuts Market in the United Kingdom

Market Overview
The UK nuts market declined rapidly to $ in , which is down 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 saw a relatively flat trend pattern. Nuts consumption peaked at $ in 2019; however, from to , consumption stood at a somewhat lower figure.

In value terms, nuts production amounted to $ in estimated in export price. Overall, production, however, saw a mild curtailment. The pace of growth was the most pronounced in 2012 with an increase of % against the previous year. Nuts production peaked at $ in 2007; however, from 2008 to , production failed to regain momentum.


Consumption
Nuts consumption in the UK rose to tons in , increasing by % against the previous year's figure. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, consumption attained the maximum volume at tons in ; however, from to , consumption stood at a somewhat lower figure.

The value of the nuts market in the UK rose modestly to $ in , picking up 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, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $ in 2019; however, from to , consumption remained at a lower figure.


Market Forecast
Driven by rising demand for nuts in the UK, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase 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
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 UK remains a net importer of nuts; in physical and value terms, imports consistently exceeded exports from 2007 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.