Home seclusion and the increase in working from home had a positive impact on retail sales of nuts in 2020. As such, retail sales of nuts were supported by an increase in home baking, as consumers adopted new hobbies and habits during the COVID-19 pandemic.
During the COVID-19 crisis in 2020, retail demand for almonds and walnuts increased considerably as consumers found the health benefits of these products appealing during the global health crisis. Almonds also benefit from a long shelf life, and consumers find almonds to be good value for money, which also supported demand for almonds in 2020.
Almonds consumption is expected to continue to increase over the forecast period as almonds are increasingly well-known for its health benefits. This will continue to support growth for this category in nuts in the coming years as they are a popular snack, recognised as a healthy ingredient in Mediterranean food and also a key source of protein in plant-based diets.
Overall consumption of nuts is expected to grow in the forecast period, and demand will be supported by strong supply. Players in nuts are striving to increase yield in the coming years and also to reduce water usage in the production process by selecting more drought-resistant varieties of nuts in many categories.
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Understand the latest market trends and future growth opportunities for the Nuts industry in Australia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Nuts research and analysis database.
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