China's nut market exceeds 280 billion yuan, and the mixed nut market is becoming saturated

China

Market & Price Trends

Published Jan 23, 2024

Tridge summary

China's nut market has grown to a $40 billion industry, with tree nut imports hitting $3.28 billion, according to a U.S. Department of Agriculture report. The dried fruit import volume has also surged 3.4 times in a decade. The nut market is expanding rapidly in food processing, coffee, tea, and other sectors, and is projected to make up about 20% of the total snack food market in 2022. Meanwhile, the food market in China has grown by 8.9% year-on-year, with online retail platforms like Douyin and Kuaishou gaining more market share. As the daily nut market becomes saturated, there's a growing need for innovation in the nut and dried fruit industry, with products like sliced, diced, and mashed nuts, as well as candied dried fruits and fruit purees, catering to the diverse needs of the food processing industry.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The "China Dried Nut Market Report" recently released by the U.S. Department of Agriculture shows that the scale of China's nut market has reached 40 billion U.S. dollars (approximately 285.65 billion yuan), the import volume of tree nuts has reached 3.28 billion U.S. dollars (approximately 23.4 billion yuan), and the import volume of dried fruits It has also increased 3.4 times in ten years. Although the mixed dry nut market has become saturated, dry nuts are growing rapidly in food processing, coffee, tea and other industries. my country's nut market will reach US$40 billion in 2022, accounting for about 20% of the entire snack food market. It can already compete with candy/chocolate and biscuits/pastry for the leading position in the snack food market. From 2011 to 2022 , the annual compound growth rate of the nut market exceeds 10%, becoming China's leading production and processing industry. Among them, the market size of tree nuts will reach 8 billion US dollars in 2022, but ...

Source: Guojiguoshu