Vietnam: Walnut Market 2025

Walnut Market Size in Vietnam

In 2021, the Vietnamese walnut market increased by 51% to $X, rising for the fifth consecutive year after three years of decline. In general, consumption continues to indicate a significant expansion. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in years to come.

Walnut Exports

Exports from Vietnam

After two years of growth, overseas shipments of walnuts decreased by -7.8% to X tons in 2021. Overall, exports recorded a sharp descent. The pace of growth appeared the most rapid in 2016 when exports increased by 78%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, walnut exports declined to $X in 2021. In general, exports faced a sharp decline. The pace of growth appeared the most rapid in 2020 with an increase of 197% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for walnut exports from Vietnam, accounting for a 80% share of total exports. Moreover, walnut exports to the United States exceeded the volume sent to the second major destination, Hong Kong SAR (X kg), fourfold. The third position in this ranking was taken by Luxembourg (X kg), with a 0.4% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +17.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-34.8% per year) and Luxembourg (-39.0% per year).

In value terms, the United States ($X) emerged as the key foreign market for walnut exports from Vietnam, comprising 73% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 21% share of total exports. It was followed by Luxembourg, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +11.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-28.6% per year) and Luxembourg (-33.4% per year).

Export Prices by Country

In 2021, the average walnut export price amounted to $X per ton, shrinking by -3.9% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, walnut export price increased by +76.3% against 2019 indices. The growth pace was the most rapid in 2020 an increase of 83% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Walnut Imports

Imports into Vietnam

In 2021, supplies from abroad of walnuts increased by 54% to X tons, rising for the fifth year in a row after three years of decline. In general, imports showed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 494%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the near future.

In value terms, walnut imports soared to $X in 2021. Overall, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 473% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in years to come.

Imports by Country

The United States (X tons), Chile (X tons) and Mexico (X tons) were the main suppliers of walnut imports to Vietnam, with a combined 95% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Chile (with a CAGR of +180.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), the United States ($X) and Chile ($X) were the largest walnut suppliers to Vietnam, together accounting for 98% of total imports.

The United States, with a CAGR of +133.1%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average walnut import price stood at $X per ton in 2021, waning by -1.8% against the previous year. Overall, the import price continues to indicate a perceptible descent. The growth pace was the most rapid in 2020 when the average import price increased by 13%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Mexico ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-6.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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