Investment Rating - The report indicates a positive investment outlook for the nut snack industry, highlighting significant growth opportunities in e-commerce channels, particularly on platforms like Douyin [8][15]. Core Insights - The nut snack market has shown a recovery with a 16.2% growth in online sales in 2024, reversing the decline seen in 2023 [8]. - Douyin has emerged as a dominant player, increasing its market share from 26.3% in 2022 to 49.3% in 2024, while traditional platforms like Taobao and JD have stagnated [8][9]. - Mixed nuts remain the largest category but have experienced a decline of 6.1% in sales, while other categories like sunflower seeds and peanuts have shown positive growth [10][12]. E-commerce Performance - Douyin's overall growth in the nut category reached 38.9%, with mixed nuts growing by 63.1% and nut gift boxes skyrocketing by 304.5% [15][17]. - Taobao saw a slight decline of 0.6% in the nut category, but specific segments like sunflower seeds and paper-shelled walnuts experienced growth rates of 9.6% and 19.3%, respectively [10][12]. - JD reported a modest growth of 1.5%, with mixed nuts achieving a notable increase of 12.7% [13][14]. Sales Data - The total e-commerce sales for nuts in 2024 are projected at approximately 92.87 billion, with significant contributions from Douyin [9]. - Key sales figures for 2024 include: - Mixed nuts: 21.19 billion with a -6.1% growth - Sunflower seeds: 7.02 billion with a 9.6% growth - Peanuts: 4.30 billion with a 14.2% growth [12]. Brand Rankings - The leading brands in the nut snack market for 2024 include: - Three Squirrels: 11.12 billion with a 23.3% growth - Be&cheery: 5.07 billion with a -18.9% growth - Wolong: 2.75 billion with a 4.0% growth [19][21]. - On Douyin, Three Squirrels also leads with 25.28 billion in sales, reflecting a 63.1% growth [17]. Market Trends - The nut snack industry is witnessing a shift towards online purchasing, with consumers increasingly favoring platforms that offer convenience and variety [6][8]. - The growth of specific categories, such as nut gift boxes and certain types of nuts, indicates changing consumer preferences towards premium and gift-oriented products [15][16].