Shelled walnuts market in Asia

Earlier Report Observations

The Asian shelled walnuts market contracted sharply in 2019, with volume falling to 701 thousand tonnes from 1 349 thousand tonnes the previous year. This significant downturn was driven by a 15% decline in Chinese walnut production in 2018, which substantially reduced supply. Weakening demand in the walnut beverage segment, marked by falling sales at major producer Yangyuan, further contributed to the market's decline during this period.

A sustained recovery began in 2020, with market volume reaching 940 thousand tonnes by 2023. Improved climatic conditions that boosted yields, particularly in China's Yunnan province, provided a key supply-side push. On the demand side, the industry's extension into higher-value processed products and a rising consumer preference for plant-based foods, especially in South Korea, stimulated consumption. The market was also shaped by regulatory changes, including the 2022 implementation of mandatory allergen labeling for walnuts, which standardized product information for consumers.

Production shelled walnuts in Asia

In kind, 2017-2020, K t

Top producers of shelled walnuts, 2017-2020

World map of production of shelled walnuts, 2017-2020

In 2020, Asia produced 714 thousand tonnes of shelled walnuts, representing an 11.4% increase compared to the previous year. However, looking at the broader period from 2017 to 2020, production actually declined by 42.6%, which translates to an average annual decrease of 16.9%. The lowest production level was recorded in 2019 at 640 thousand tonnes, while the peak occurred in 2018 with 1,306 thousand tonnes. The most significant drop was observed in 2019, when production fell by 51.0%.

Annual dynamics of production in Asia in kind, 2017-2020, K t

Exports shelled walnuts from Asia

Exports in kind, t

Following a two-year decline, Asia's exports of shelled walnuts rebounded in 2020. The region exported 27,028 tonnes that year, marking a substantial 41.2% year-over-year increase. Over the 2017-2020 period, exports overall decreased by 4.8%, with a compound annual growth rate (CAGR) of -1.6%. The lowest export volume was recorded in 2019 at 19,142 tonnes, which also saw the largest decline of 19.9%.

Annual dynamics of product's exports from Asia in kind, 2017-2020, t

Between 2017 and 2020, Asia's shelled walnut exports were distributed across a diverse range of partner countries. Russia accounted for 7.1% of exports in volume, Germany for 3.8%, and the United Kingdom for 2.6%. Together, these three countries represented just 13.5% of total export flows, indicating a highly fragmented market.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Asia in kind, 2017-2020

Exports in value, M $ US

Asia's shelled walnut exports in value terms grew for the second consecutive year in 2020. The region exported $260.8 million worth of shelled walnuts, showing a modest 2.7% improvement compared to 2019. Over the 2017-2020 period, export value increased by 21.5%, with a CAGR of 6.7%. The lowest value was recorded in 2018 at $177.8 million, which also experienced the largest decline of 17.2%. In contrast, 2019 saw the most significant increase, with export value rising by 42.8%.

Annual dynamics of product's exports from Asia in value, 2017-2020, M $ US

During the 2017-2020 period, Russia, Germany, and the United Kingdom were notable buyers of Asian shelled walnuts in value terms, accounting for 4.8%, 3.7%, and 2.9% of exports, respectively. However, their combined share reached only 11.4% of total export value, with the remaining 88.6% distributed among numerous other trading partners.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Asia in value, 2017-2020

Imports shelled walnuts to Asia

Imports in kind, t

In 2020, Asia's imports of shelled walnuts amounted to 66,321 tonnes, reflecting a significant 17.0% decrease from the previous year. Over the 2017-2020 period, imports declined by 11.2%, with a CAGR of -3.9%. The highest import volume was recorded in 2019 at 79,913 tonnes, which also saw the largest increase of 19.2%.

Annual dynamics of product's imports to Asia in kind, 2017-2020, t

From 2017 to 2020, the United States, Ukraine, and Chile were the primary suppliers of shelled walnuts to Asia in volume terms. The United States dominated with 58.3% of imports, followed by Ukraine at 14.1% and Chile at 3.4%. Together, these three countries accounted for 75.8% of total import volume.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Asia in kind, 2017-2020

Imports in value, M $ US

After two years of decline, Asia's imports of shelled walnuts in value terms showed a slight recovery in 2020. The region imported approximately $427.1 million worth of shelled walnuts, remaining broadly stable compared to 2019. Over the 2017-2020 period, import value decreased by 18.3%, equating to an average annual decline of 6.5%. The lowest value was recorded in 2019 at $425.4 million, which also experienced the largest decline of 16.6%.

Annual dynamics of product's imports to Asia in value, 2017-2020, M $ US

Between 2017 and 2020, the import market in value terms was characterized by the strong dominance of the United States, which accounted for 73.5% of total flows. Other trading partners held relatively minor shares, highlighting the concentrated nature of Asia's shelled walnut imports by value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Asia in value, 2017-2020