Global Nut Products Market – Industry Trends and Forecast to 2029

Market Analysis and Size

Consumers are adopting good eating habits by including healthy foods such as edible nuts, drinking more water, and including fruits in their diet as awareness of maintaining a healthy lifestyle grows. These seemingly insignificant practices significantly impact people's health and well-being. Consumers are understanding the benefits of this functional food for health, which is propelling the demand of the global nuts market. The World Health Organization (WHO) recommends including nuts as part of a healthy diet for adults.

Data Bridge Market Research analyses that the nut products market was valued at USD 2.12 billion in 2021 and is expected to reach USD 3.32 billion by 2029, registering a CAGR of 5.80% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.     

Market Definition

Nuts are a nutrient-dense food that are high in lipids, protein, dietary minerals, vitamins, and Omega-3 fatty acids. Nut goods include whole or split nuts, nut meal, flour, oil, and other ingredients. Nuts that have been shelled and are commonly utilized in confectioneries and baking items. These items are popular due to their high nutritional value.

Report Scope and Market Segmentation

Nut Products Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Rising health awareness among consumers

Surging health awareness among consumers is expected to propel the nut products market's growth rate. Consumers are considering healthy food and nutrition-rich items in order to stay active and reduce the risk of diseases. As a result, they have begun to select snacks that are high in nutritional content, such as edible nuts. As a result of changing preferences, sales of nuts items increased. A changing consumption pattern has resulted from rising health concerns and awareness. Nut-based derivatives, such as pastes and butter, are becoming more widely used in baked goods, particularly in European and North American markets.

• Emerging demand of for ready-to-eat snack foods

Growing demand for ready-to-eat snack foods is estimated to drive the nut products market growth. Furthermore, goods including nut-based butter, paste, fillings, and flour are commonly utilized in bakeries and confectioneries. Almonds, walnuts, and hazelnuts are some of the most common raw materials employed for the production of diverse nut goods.

Furthermore, rising urbanization and increasing level of disposable income will drive market value growth. Also, the continuously changing lifestyles of people will cushion the growth rate of nut products market.

Opportunities

• Increasing number of application in end-use industries

The rise in number of application in end-use industries will create new market opportunities during the forecast period. Nut products is widely utilized in pharmaceuticals, cosmetics, and healthcare is expected to fuel global market expansion.

• Growing application spectrum for nuts and derivatives

Nut product makers now have many options due to the strong growth and exciting potential of plant-based dairy replacements and meat analogues. Leading companies including Olam International and Barry Callebaut have already increased their efforts to cater to these appealing end-use pathways in order to obtain a competitive advantage in the near future. Nut-based butter, paste, fillings, and flour are becoming more widely used in a variety of applications, the most common of which are bakery and confectionery. For the production of plant-based savoury items, nut flour and paste are also used. Almonds, hazelnuts, and walnuts are among of the most commonly used raw materials for semi-finished derivatives.

Moreover, rise in strategic collaborations and emerging new markets will act as market drivers and further boost beneficial opportunities for the market's growth rate. Along with this, the constant developments in technologies and emerging demand for bottled water across the globe will provide new market opportunities in coming years.

Restraints/ Challenges

On the other hand, the market is projected to be hampered by fluctuating prices of raw materials and the availability of substitutes. The impact of COVID-19 on supply chain and increasing focus of the manufacturers on the introduction of preventive healthcare products will hinder the market's growth rate. Rising prevalence of obesity and high cholesterol-related problems will act as market restraint and further challenge the market growth rate.   

This nut products market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the nut products market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Nut Products Market

Nut products had several rise and fall in the industry as a result of the COVID-19 shutdown period. Shutdowns of restaurants and other dining spaces, on the other hand, were major factors affecting the food and beverage industry. During the early stages of the pandemic, the unpredictable demand for goods such as snacks, dairy, bakery, and confectionary-based products had a negative impact on the operations of concerned supply chain processes, as governments around the world imposed strict restrictions on the movement of goods and people on a pre-determined timeline. COVID-19 significantly impacted the food and beverage industry in practically every region.

Recent Development

• In 2020, Takis Hot Nuts announced the introduction of three new flavours named Fuego, Flare, and Smokin' Lime. A unique snack with double crunch technology that infuses each peanut-filled bite with Takis' signature spicy intensity, giving customers new snacking options.

Global Nut Products Market Scope

The nut products market is segmented on the basis of product type, nut type, form and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

• Nut Butter
• Nut Paste/Marzipan Paste/Persipan Paste
• Nut Fillings with Cocoa
• Nut Fillings without Cocoa
• Caramelized Nuts
• Nut Flour

Nut Type

• Almonds
• Hazelnuts
• Walnuts
• Cashews
• Peanuts
• Pistachios
• Macadamias
• Pecans
• Pine Nuts
• Brazil Nuts

Form

• Roasted Form
• Unroasted Form

Application

• B2B Food Service and Bakeries
  • Bakery shops
  • Foodservices
• B2B Industrial Food Manufacturers
  • Chocolate confectionery products
  • Bakery products
  • Ice-cream and frozen deserts
  • Cereals and snack bars
  • Beverages

Savory products

Nut Products Market Regional Analysis/Insights

The nut products market is analyzed and market size insights and trends are provided by country, product type, nut type, form and application as referenced above.

The countries covered in the nut products market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa (MEA).

Europe dominates the nut products market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to major key players and the ever-rising population base in this region. 

Asia-Pacific on the other hand is projected to exhibit the highest growth rate during the forecast period of 2022 to 2029 due to the growing demand for processed food items and surging level of disposable income in this region. Also, rising awareness about the health benefits of nuts, and increasing urbanization are anticipated to propel the market's growth rate.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Nut Products Market Share Analysis

The nut products market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to nut products market.

Some of the major players operating in the nut products market are:

• Olam Group (Singapore)
• Barry Callebaut (Switzerland)
• Blue Diamond Growers (US)
• Kerry Group plc (Ireland)
• Zentis GmbH & Co. KG (Germany)
• Mount Franklin Foods (US)
• Mandelin (US)
• Bazzini (US)
• Besana (Italy)
• Lubeca (Denmark)
• PURATOS (Belgium)
• Lemke (Germany)
• ALMENDRAS LLOPIS S.A.U. (Spain)
• Kanegrade (UK)
• Moll Marzipan GmBH (Germany)
• Kondima Engelhardt GmbH & Co. KG (Germany)
• CSM Group, Inc. (US)
• TREEHOUSE ALMONDS (US)
• Royal Nut Company (Australia)
• Stelliferi & Itavex S.p.A (Italy)

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