Bangladesh, a net importer of nuts like almonds, cashews, pistachios and walnuts, is a growing market for US tree nuts. Opportunities for almond, walnut, and pistachio exports are driven by an increasing footprint of modern retail outlets, rising incomes, expansion in the food-processing industry, the hotel, retail and institutional (HRI) sector, a raised health consciousness, and evolving consumer preferences.
Bangladesh, a densely populated country of 167 million people, relies on a labor force of 4 million workers in the ready-made garment sector alone to become the world’s third largest garment manufacturer, earning the highest amount of foreign currency while also the largest contributor of GDP to the country.
Decades ago, high value tree nuts were limited in supply in retail markets and consumers were not aware of the health benefits of tree nuts. However, presently, due to improved consumer socio-economic status, rapid urbanization, and increased knowledge and awareness of tree nuts, demand has risen sharply.
Bangladesh: Exporter’s share in trading almond with Bangladesh
Higher demand for nuts has also increased the available options for purchasing whether loose, in packets, or canned. Nuts are found in almost every supermarket, confectionary, retail bakery and grocery shops of the country’s major cities. There are many diversified uses of nuts in confections, baked goods, and prepared foods. Demand growth for almonds, cashews, and pistachios is driven primarily by rising socio-economic conditions of the middle class, and increased consumer awareness of products perceived as healthy.