by Corinne Gangloff
July 17, 2020
Cleveland, OH, July 17, 2020 — US demand for nuts and seeds is forecast to see marginal yearly gains in volume terms through the 2023/2024 growing season, according to Nuts & Seeds: United States, a report recently released by Freedonia Focus Reports. Rising population and disposable personal income will support advances. An increase in incomes will enable consumers to purchase more expensive and healthier snack foods, such as nuts and seeds. In addition, derivative products made from nuts and seeds that are seen as unique and healthy by consumers will continue to support sales. However, market maturity, the high prices of many nuts, and a wide variety of substitute snacks will curb additional gains. In addition, US production – a large component of demand – may be limited by drought in major production regions such as California, constraining the ability for producers to meet demand, and driving prices upward.
In the 2019/2020 season, nut and seed demand is projected to fall 3.7% in volume terms due to the negative economic effects caused by the COVID-19 pandemic. Falling incomes and lowered levels of nut and seed use in the foodservice sector due to closures in 2020 will dampen demand and place downward pressure on prices. Real disposable personal income per capita is projected to fall 2.3% in 2020. In nominal terms, the decline in disposable personal income per capita is expected to be nearly 1.0%. For nut and seed demand in volume terms, the most significant declines in 2020 are projected for almonds and pecans, which rank as among the most expensive nuts.
These and other key insights are featured in Nuts & Seeds: United States. This report forecasts to the 2023/2024 season US nuts and seeds demand and production in pounds on a shelled (i.e., without shells) basis and in nominal US dollars valued at the point of first sale (i.e., farmer or processor level). Total demand in pounds and nominal US dollars is segmented by product in terms of:
To illustrate historical trends, total demand, total production, and the various segments are provided in annual series from the 2008/2009 to the 2018/2019 season.
Important notes regarding the scope of this report:
More information about the report is available at:
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