The Latin America, Middle East and Africa Nuts Market would witness market growth of 6.6% CAGR during the forecast period (2023-2030).
Consumer awareness of the health privileges of nuts has been a significant driver of the market. Nuts are a nutritional snack due to their high protein content, healthy fats, vitamins, minerals, and antioxidants. The trend toward healthier eating habits has boosted the demand for nuts. The rise in plant-based and vegan diets has contributed to increased nut consumption. Nuts are a valuable source of plant-based protein, making them a suitable option for individuals looking to reduce their meat consumption. Manufacturers have been introducing innovative and convenient nut-based snack products. These include flavored nuts, nut clusters, nut bars, and portable nut packs that cater to consumers seeking on-the-go and healthy snack options.
Nut butter, like groundnut, cashew, and almond butter, has become a versatile and nutritious spread. They are used in sandwiches, smoothies, baking, and as a dip for fruits and vegetables. Consumers are increasingly worried about the sustainability and ethical sourcing of nuts. Sustainable farming practices, fair trade certifications, and transparency in the supply chain have become important factors for consumers when choosing nut products. A trend toward flavored and seasoned nuts has emerged, offering consumers a wide range of flavor profiles, from sweet to savory and spicy. These products cater to diverse taste preferences.
As per the Nuts & Dried Fruits Statistical Yearbook, the UAE’s hazelnuts, walnuts, and peanut import value in 2021 was 3,620 MT, 5,659 MT, and 33,112 MT, respectively. The UAE imports nuts, including almonds, pistachios, walnuts, cashews, and more. This diversity caters to different consumer preferences and culinary applications, making nuts popular among residents and tourists. The UAE's multicultural population and international culinary influence have led to the incorporation of nuts into a broad range of traditional and international dishes. Nuts are commonly used in both savory and sweet dishes. These aspects will drive the market expansion in this region.
The Brazil market dominated the LAMEA Nuts Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,493.5 million by 2030. The Argentina market is showcasing a CAGR of 7.1% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 6.3% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Nuts Market is Projected to reach USD 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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