In 2020, nuts suffered a decline in total volume sales, due to the closure of foodservice venues and the halt in tourism. Airline companies, bars and hotels are typically big buyers and sellers of nuts, and all of these industries were impacted by the outbreak of COVID-19, with flights cancelled throughout the year and lockdown periods closing foodservice venues.
Nuts have seen an increase in retail sales in 2020, moving from retail volume growth of 3% in 2019, to 7% in 2020. This uplift in sales was aligned to the outbreak of COVID-19, with sales benefiting from nuts having shelf-stable properties, leading to consumers stockpiling nut products during the first lockdown.
In 2021, the sales of nuts through retail will decline, recording a 2% retail volume decline due to the higher levels of growth seen in 2020. In addition, the recovery of the foodservice landscape and institutional sector will further impact retail volume growth.
Across the forecast period, strategies from nut producers will include making a clear distinction between quality, locally produced nuts and imported nuts. In France, consumers are already more than inclined to pay a price premium for locally sourced fruits and vegetables, and this trend is expected to expand across the long-term.
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This report originates from Passport, our Nuts research and analysis database.
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