Increasing Consumer Preference for Healthy Nuts in the Country is the One of the Driving Factors for the Growth of Saudi Arabia Nuts Market

According to the published article by Research gate, in a household survey conducted, the mean daily consumption of nuts in average adults was 0.4 g/day in Saudi Arabia. The high nutritional value of nuts provide them more demand. Therefore, the Saudi Arabia Nuts Market is estimated to increase rapidly in the near future.

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Data Bridge Market Research analyses that the Saudi Arabia Nuts Market is expected to grow at a CAGR of 5.7% in the forecast period of 2023 to 2030 and is expected to reach USD 310.06 million by 2030. Increasing demand for nuts as a meat alternative is projected to propel the growth of the market as the growing trend of veganism and vegetarian diets is prevailing in Saudi Arabia. Consumers prefer meat alternatives with high nutritional content.           

Increasing Consumer Preference for Healthy Nuts in Country is expected to drive the market's growth rate

Nuts are healthy snacks to consume in their raw or roasted form. The easy-to-use nature, multiple applications in culinary dishes, and high nutritional value of nuts provide them more demand. These nuts are considered comfort food by consumers as they have nutritional benefits. Nuts contain monosaturated fatty acids, omega-3 fatty acids, and trace metals, such as selenium, calcium, iron, and phosphorus. These ingredients help maintain the health and well-being of consumers. Nuts are widely consumed in Saudi Arabia owing to their multiple health benefits.

Report Scope and Market Segmentation

Segment Analysis:

Saudi Arabia nuts market is segmented on the basis of type, nature, coating type, form, category, and distribution channel.

• On the basis of type, the Saudi Arabia nuts market is classified into almond, cashew, walnut, hazelnut, pistachio, brazil nut, pecan, and macadamias.

In 2023, the Cashew segment of type segment is anticipated to dominate the Saudi Arabia Nuts Market

In 2023, the cashew segment of this market will dominate the Saudi Arabia nuts market due to its high demand and ability to be an essential ingredient. The growing applications of cashew for household purpose, such as the preparation of cookies, butter, yogurt and cream are likely to boost the demand for cashew in the country. The cashew segment is expected reach the highest CAGR of 2.0% in the forecast period of 2023-2030.

• On the basis of nature, the market is segmented into organic and conventional. In 2023, the conventional segment is expected to dominate the market with 76.6% market share because of the availability of cheaper price products as compared to organic nuts.
• On the basis of coating type, the market is segmented into coated and uncoated. Coated is further segmented into salt, chocolate, sugar, spices, and others. In 2023, the uncoated segment is expected to dominate the market with 75.9% market share due to the rising taste of crunchiness and textures among snacks.
• Based on form, the market is segmented into whole, diced/cut, and granular. In 2023, the whole segment is expected to dominate the market with 87.6% market share as easy availability of different varieties of whole nuts in stores are used in a variety of dishes
• Based on category, the market is segmented into roasted and unroasted. In 2023, the unroasted segment is expected to dominate the market with 63.6% market share as unroasted nuts not processed with additives are mostly preferred by health-conscious consumers for their original flavours
• Based on distribution channel, the market is segmented into store-based retailers and non-store retailers.

In 2023, the store-based retailers segment is projected to hold the largest share of distribution channel segment in the Saudi Arabia nuts market

In 2023, the store-based retailers segment holds maximum market due to being easily accessible to consumers via supermarkets, hypermarkets, specialty stores, and others. The store-based retailers segment is growing with a CAGR of 5.9% in the forecast period of 2023 to 2030.

Major Players

Data Bridge Market Research recognizes the following companies as the major Saudi Arabia nuts market players in Saudi Arabia nuts market are Wonderful Pistachio& Almonds LLC., Baja, Kings Madina Dates, Vinnienuts, Andalucia Nuts, ROMA GROUP, AL JAMEEL INTERNATIONAL, AL RIFAI, MEHBAJ, Tatco, and Lool Jooz SA among others

Market Development

• Mars, a U.S.-based company is in partnership with major retailers such as Carrefour, Spinneys, Lulu, Danube, Panda, and Tamimi of Saudi Arabia. They have launched six nut bars for their customers. This will provide the customer with different variety of nut bars for consumption. 
• Hazel, a small Saudi family business that promotes healthier lifestyles, was founded in 2020. They offer pure 100% nuts such as almonds, pistachios, and pecans. Their glazed nut box offers 3 different varieties to their customers.

COVID-19 Impact Analysis

The uncertainty caused due to the outbreak of the pandemic occurred by COVID-19 in the market has affected the food supply of Saudi Arabia. Most of the agricultural commodity in Saudi Arabia is imported from the U.S. and Asian countries. The high dependency on food supply from imports was affected during the pandemic due to restrictions on exporting food items. The effects can be seen over the intensity and efficacy of behavioral changes (avoid purchasing) and shifts in spending patterns among Saudi Arabian consumers. The supply of goods and volatile agriculture commodity prices, including tree nuts and vegetables, had increased the pressure on the country's food supply chain. Due to COVID-19, Saudi Arabia has faced a multi-layered crisis disrupting the domestic economy, a collapse in the prices, and supply & demand of the products.  

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