Walnuts market in Southern Europe

Earlier Report Observations

The walnut market in Southern Europe, measured by volume, expanded significantly from 167 thousand tons in 2018 to 226 thousand tons in 2022, before contracting to 198 thousand tons in 2023. In value terms, the market peaked at $1.9 billion in 2021, then fell to $1.3 billion by 2023, reflecting price volatility alongside volume changes.

The period saw a notable increase in domestic production, which more than doubled from 87 thousand tons to 149 thousand tons between 2018 and 2022. This output growth was supported by rising consumer awareness of walnuts' health benefits, which bolstered demand. Additionally, stable global walnut supply chains, particularly from the United States, helped maintain ample availability, facilitating volume expansion even as increased supply contributed to lower prices and reduced market value in subsequent years.

Production walnuts in Southern Europe

In kind, 2017-2020, K t

Top producers of walnuts, 2017-2020

World map of production of walnuts, 2017-2020

Southern Europe's walnut production rebounded after a two-year decline. In 2020, the region produced 94.7 K t of walnuts, marking a significant 12.4% increase from the previous year. Looking at the period from 2017 to 2020, production grew by 6.5%, which translates to an average annual growth rate of 2.1%. The lowest production level was recorded in 2019 at 84.3 K t, which also saw the largest decline of 3.1% during this timeframe.

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

In value, 2017-2020, M $ US

In 2020, the value of walnut production in Southern Europe reached 614.3 M $ US, representing a slight decrease of 1.5% compared to the previous year. Over the 2017-2020 period, production value declined by 3.9%, averaging an annual decrease of 1.3%. The lowest value was observed in 2018 at 557.3 M $ US, which experienced the most substantial drop of 12.8%. In contrast, 2019 saw the largest increase of 11.9%.

Annual dynamics of production in Southern Europe in value, 2017-2020, M $ US

Exports walnuts from Southern Europe

Exports in kind, K t

Southern Europe exported 4.7 K t of walnuts in 2020, showing a modest uptick of 3.6% from the prior year. However, from 2017 to 2020, overall exports decreased by 13.5%, with a compound annual growth rate (CAGR) of -4.7%. The lowest export volume was recorded in 2019 at 4.6 K t, which also saw the largest decline of 17.4%. The peak was in 2018 with 5.6 K t.

Annual dynamics of product's exports from Southern Europe in kind, 2017-2020, K t

Between 2017 and 2020, Southern Europe's walnut exports were distributed across numerous countries. Even the top destinations—Austria, Germany, and the United Kingdom—collectively accounted for only 23.0% of total export volume, indicating a highly diversified market.

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

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

Exports in value, M $ US

Walnut exports from Southern Europe declined for the third consecutive year. In 2020, export value stood at 30.8 M $ US, reflecting a gradual contraction of 9.2% compared to 2019. Over the 2017-2020 period, exports decreased by 21.9%, with a CAGR of -7.9%.

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

The export market in value terms was broad from 2017 to 2020. The United Kingdom (9.5% of export value), Belgium (7.6%), and Austria (7.0%) together represented just 24.1% of total flows, while the remaining 75.9% was spread across many other countries.

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

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

Imports walnuts to Southern Europe

Imports in kind, K t

Southern Europe imported 90.6 K t of walnuts in 2020, which is 13.5% less than the previous year. Between 2017 and 2020, imports decreased by 2.6%, averaging an annual decline of 0.9%. The lowest import volume was in 2018 at 85.4 K t, while the peak was in 2019 at 104.8 K t, which also recorded the largest increase of 22.7%.

Annual dynamics of product's imports to Southern Europe in kind, 2017-2020, K t

From 2017 to 2020, the United States (45.8% of import volume), Chile (15.9%), and France (13.4%) remained the leading sources for walnut imports into Southern Europe, collectively accounting for 75.1% of total flows.

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

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

Imports in value, M $ US

In 2020, Southern Europe imported approximately 406.5 M $ US worth of walnuts, equivalent to a strong decline of 10.2% compared to 2019. Over the 2017-2020 period, imports decreased by 17.7%, with a CAGR of -6.3%. The largest decline occurred in 2018 at 10.4%, while 2019 saw the largest increase of 2.3%.

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

During 2017-2020, the United States (42.4% of import value), Chile (17.7%), and France (11.1%) consistently held leading positions in Southern Europe's walnut import structure, jointly representing 71.2% of total flows.

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

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