The North America Nuts Market would witness market growth of 5.4% CAGR during the forecast period (2023-2030).
Consumers' increasing awareness of the health advantages of these foods, which are a rich source of antioxidants, vitamins, protein, fiber, and other essential minerals, is driving market expansion. In addition, the expansion of the nut refreshment industry in developing economies has contributed to the market's growth in recent years. The increasing population, urbanization, and disposable income of consumers have increased the consumption of pecans, which has anticipated the market's growth. In developed regions, the market is also propelled by convenience foods such as nut snacks.
In addition, new, innovative flavored nut product manufacturers anticipate market expansion during the forecast period. In addition, ever-evolving lifestyles and demographics, such as the growing number of working women, have led to a substantial market expansion. However, government restrictions and the expensive price of nuts are impeding market expansion. Various modifications have been made to nut production to improve quantity and quality, including mechanization, better planting practices, and higher-quality raw materials.
As a result of these modifications, agroecological management and cropping systems have produced convincing results. With the new modifications in farming and the integration of organic farming into nut farming, growers can now commercialize, diversify, and export their products to an international marketplace by providing high-quality nuts. In the forecasted period, the market is expected to grow steadily because of the significant development in the production, added value, and commercialization sectors.
North American consumers are increasingly focused on health and wellness. Nuts are perceived as a nutritious and natural snack option, high in protein, healthy fats, fiber, vitamins, and minerals. This aligns with the growing interest in healthier eating habits. Snacking between meals is prevalent in North America, and nuts are a convenient and satiating snack choice. They are often preferred over less nutritious snack options. North America has access to various nut types, including almonds, walnuts, peanuts, cashews, pistachios, and pecans. This diverse selection caters to different taste preferences and dietary needs. Nut brands in North America often invest in marketing and promotional campaigns that highlight nuts' nutritional benefits and versatility. These efforts increase consumer awareness and demand.
The US market dominated the North America Nuts Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $16,793.9 million by 2030. The Canada market is exhibiting a CAGR of 7.7% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 6.8% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The 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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