BEIJING, May 10 (Xinhua) -- Chinese nut market will see a golden growth period with expanding scale and higher prices as more quality-conscious consumers are pursuing healthier snack foods, China Daily reported Friday.
By 2023, nut sales in the country with a population of nearly 1.4 billion are expected to reach 5.35 billion U.S. dollars, up 13.8 percent from expected tallies in 2019, the newspaper said, quoting market research provider Euromonitor International.
The United States, China, Germany, Russia and Turkey are predicted to become the top five markets for nuts this year.
China is the second-largest nut producer worldwide, accounting for 10 percent of the world's total production. It is the largest producer of walnuts, one of four major types of nuts along with almonds, hazelnuts and cashews, and the country's walnut output makes up about half of the global total, according to the Chinese Academy of Forestry.
"Nuts, as an important kind of snack food, are seeing growing popularity in China. With the increase of per capita income and the ongoing consumption growth in the country, Chinese people are eating more snack food," Neil Wang, president of consultancy Frost & Sullivan in China, was quoted as saying.
