Nuts consist of an inedible hard shell enclosing an edible seed, and they serve as oily kernels utilized in diverse food products globally. Nuts and seeds are renowned for their abundance of healthy fats, protein, fiber, minerals, and vitamins. Their unique fat composition aids in weight management as the body does not fully absorb them. Moreover, nuts and seeds control food intake and energy expenditure, making them valuable in promoting a balanced and controlled diet.
According to Data Bridge Market Research, the Nuts Market accounted for USD 28,179.26 million in 2021 and is expected to reach USD 47,697.94 million by 2029. The market is expected to grow with a CAGR of 6.8% in the forecast period of 2022 to 2029.
“Rising adoption of consuming healthy food and paleo diets drives the market’s growth”
The rapid expansion of the global nut market is fuelled by influential factors such as the rising popularity of vegan food trends, paleo diets, and a shift towards healthier eating habits. Nuts, known for their high protein content, healthy fats, and carbohydrates, are significant in these dietary choices. Increased consumer awareness regarding the nutritional advantages of nuts has been a key driver for market growth. Furthermore, the younger generation's inclination towards organic and natural products has broadened the target audience for nut manufacturers, boosting the market’s growth.
What restraints the growth of the nuts market?
“Unavailability of sufficient raw materials”
The global nuts market faces a significant challenge due to the unavailability of adequate raw materials. Factors such as climate change, fluctuating weather patterns, and natural disasters affect nut cultivation and harvest. An insufficient supply of raw materials limits the production capacity and availability of nuts in the market, leading to increased prices and supply chain disruptions. The unavailability of sufficient raw materials restraints the global nuts market.
Segmentation: Nuts Market
The nuts market is segmented on the basis of category, type, coating type, form, end user, and distribution channel.
- On the basis of category, the nuts market has been segmented into conventional, organic.
- On the basis of type, the nuts market has been segmented into almonds, brazil nuts, cashews, chestnuts, hazelnuts, hickory nuts, macadamia nuts, pecans, pine nuts, pistachios, walnuts, peanuts, and others.
- On the basis of coating type, the nuts market has been segmented into coated, uncoated.
- On the basis of form, the nuts market has been segmented into whole, diced/cut, roasted, and granular.
- On the basis of end user, the nuts market has been segmented into household/retail, food service sector, café, catering, others.
- On the basis of distribution channel, the nuts market has been segmented into store based retailers, non-store retailers.
Regional Insights: North America dominates the nuts market
North America's abundant bakery and confectionery manufacturing units drive the nuts market. This region has the highest number of product launches compared to other areas. Recent times have witnessed a surge in demand for nuts, presenting substantial growth prospects. The region's market growth is further fueled by health-conscious consumers who increasingly embrace raw nuts and nutmeals in culinary applications and as savory blends, particularly in popular choices like trail mix.
Asia-Pacific is expected to grow due to increasing demand from diverse end-users, the presence of economically advanced nations, and the involvement of a prominent plastic manufacturer, all contributing to its acceleration.
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- In 2020, Seeberger has expanded its BIO product line by introducing new additions to its existing organic nut snack range. The new offerings include roasted almonds, Brazil nuts, walnuts, and unsalted roasted cashews. By incorporating these products into their BIO line, Seeberger aims to provide customers with a wider variety of organic nut snack options to choose from.
- In 2020, Takis has recently launched three exciting additions to its Takis Hot Nuts lineup: Fuego, Flare, and Smokin' Lime flavors. These new variants incorporate Takis' signature fiery intensity into each peanut-filled bite, utilizing innovative double crunch technology. With these latest offerings, Takis aims to provide customers with fresh and enticing snacking choices that deliver a unique and intense flavor experience.
- In 2020, Kraft-Heinz has unveiled Planters Pop & Pour nuts, a convenient snacking option designed to cater to consumers' fast-paced lifestyles. This innovative product allows snackers to easily pop open the container, pour out the desired amount of nuts, and enjoy their snack on the go. By introducing Planters Pop & Pour nuts, Kraft-Heinz aims to provide a snack solution that aligns with the busy schedules and on-the-move preferences of consumers.
The Prominent Key Players Operating in the Nuts Market Include:
- Cargill Incorporated (U.S.)
- ADM (U.S.)
- Dupont (U.S.)
- Evonik (Germany)
- BASF SE(Germany)
- DSM (Netherlands)
- Ajinomoto Co., Inc. (Japan)
- Novozymes (Denmark)
- Chr. Hansen Holding A/S (Denmark)
- TEGASA (Spain)
- Nutreco (Netherlands)
- Kemin Industries Inc. (U.S.)
- Adisseo (France)
- Alltech (U.S.)
- Palital Feed Additives B.V. (Netherlands)
- Global Nutrition International (France)
- Centafarm SRL (Italy)
- Bentoli (U.S.)
- NUQO Feed Additives (France)
- Novus International (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of nuts market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Nuts Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.