The Asia Pacific Nuts Market would witness market growth of 6.3% CAGR during the forecast period (2023-2030).
Nuts are used in various savory dishes, such as salads, stir-fries, and pilafs, to add flavor, crunch, and protein. For instance, pine nuts are a common ingredient in pesto sauce, and cashews are used in creamy sauces. Nuts are a staple ingredient in trail mixes, popular for hiking and camping, and convenient on-the-go snacks. Trail mixes often include a combination of nuts, dried fruits, seeds, and sometimes chocolate or other sweets. Nuts are used in many dessert recipes, including ice cream, fudge, brittle, and nougat. They can also be candied or caramelized for added sweetness and crunch. Nuts are nutrient-rich, including healthy fats, protein, fiber, vitamins, and minerals. They are used as ingredients in nutritional supplements and protein bars to provide a natural source of nutrition.
Almonds, cashews, and other nuts are used to make plant-based alternatives, such as almond and cashew milk. These dairy-free options are popular among vegans and people with lactose intolerance. Some nuts, like peanuts and macadamia, are pressed to extract their oils. These nut oils are used in cooking and salad dressings and can add a unique flavor to dishes. Nuts and nut-based oils are used in the cosmetic and personal care industry to make skincare products, shampoos, and conditioners due to their moisturizing and emollient properties. In addition to food and personal care, nuts are used in various industrial applications, such as in manufacturing adhesives, resins, and polishing compounds. The applications of nuts are diverse and extend beyond just the food industry, making them a versatile and valuable commodity in various sectors. The increasing awareness of their health benefits has contributed to their continued popularity and usage in different products.
As per the Nuts & Dried Fruits Statistical Yearbook, China was the world's leading walnut grower, accounting for 53% of global production. Exports out of China have been increasing over the last few years, and in 2021 accounted for 15% of the world share, two times above the year before. The total consumption of walnuts in 2021 in China was 398,403 MT. A rise in walnut production in China leads to an increased supply of this nut variety. This increased supply can help meet the growing demand for nuts within China and in international markets. China can become a significant exporter of walnuts, expanding its presence in the nuts market. Increased production can result in more walnuts available for export, benefiting the market by providing a reliable source of this nut variety. The aspects mentioned above will boost market growth in this region.
The China market dominated the Asia Pacific Nuts Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $5,766.3 million by 2030. The Japan market is registering a CAGR of 5.6% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 6.9% during (2023 - 2030).
Based on Distribution Channel, the market is segmented into Offline and Online. Based on Product, the market is segmented into Peanuts, Almonds, Cashew, Walnuts, Hazelnuts, Pistachios and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Nuts Market is Predict to reach $77 Billion by 2030, at a CAGR of 5.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Diamond Foods, LLC, Blue Diamond Growers, Inc., Olam Group Limited, Hines Nut Company, Germack Roasting Company, LLC, Hampton Farms, Mariani Nut Company, Durak Findik, Grower Direct Nut Company, Inc., and John B. Sanfilippo & Son, Inc.
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