The Global Nut Products Market size is expected to reach $9.7 billion by 2028, rising at a market growth of 6.1% CAGR during the forecast period.
A nut is a type of fruit with an edible seed and an inedible hard shell. They provide the developing plant with energy and nutrition. Nuts are frequently praised for their delicious flavor and practicality. Nuts come in a wide variety. A variety of almonds, cashews, pistachios, and other nuts are typically included in raw mixed nuts.
They are easily accessible at practically any supermarket or petrol station and are incredibly nutritious. These are a nutrient-dense food that includes the majority of the minerals and vitamins the body need. An involucre or whorl, made of the flower bracts, may contain nuts. The majority of nuts are indehiscent and originate from pistils having inferior ovaries. Nuts are produced by some plant families from the order Fagales.
Some common examples include hazel, filbert, hornbeam, and chestnut. Dry drupes, such as pecans, almonds, macadamia, candlenuts, and walnuts are also frequently referred to as nuts. A drupe is actually an indehiscent fruit with a single pit containing a seed (kernel) inside. The exocarp (skin), and mesocarp, (flesh), make up the fruit's outer, fleshy portion. Various nutrients that are necessary for a new plant's growth can be found in nuts.
Although their composition varies, they typically contain little water and carbohydrates and a lot of protein, fats, dietary minerals, and vitamins. Even while the protein's 90% digestibility is slightly lower compared to that of fish and meat, it can still be increased by thoroughly chewing. Long-term ingestion of the variety of nutrients included in nuts, as part of a balanced human diet, may help reduce blood cholesterol levels, risk of cardiovascular disease, and overall mortality.
The COVID-19 pandemic had a favorable impact on the market for nuts because consumers shifted their priorities and spent more money on purchasing nutritious and immunity-boosting foods. During the pandemic period, internet retailers saw startlingly increasing sales of nuts and nut-related products, which helped to maintain the demand in the market under consideration. Due to their concern about running out of things, most individuals chose to purchase greater quantities at once.
The market is expected to be driven by rising interest in healthy lifestyles and nutrition knowledge above and beyond routine dietary practices. Growing demand for nut goods is a result of shifting customer expectations for quick-fix items with wellness and health claims. There has been a change in consumer behavior due to rising health concerns and awareness. Additionally, people are modifying their nutritional preferences to encourage greater well-being.
For manufacturers of nut products, the rapid expansion and bright future of plant-based dairy substitutes and meat substitutes have opened them a wealth of opportunities. Key businesses have already stepped up their efforts to cater to these alluring end-use opportunities in order to acquire a competitive edge in the near future. In addition to food products, non-food application sectors such as those for cosmetics and medicines can also represent a possible source of revenue for businesses.
The agro-based that serve as the raw ingredients for nut products have significant levels of availability and price uncertainty. Given their inconsistent yields, rare and exotic nuts are more difficult to find. The seasonal variations in production and the rising worldwide consumption rates of nuts from developing nations cause price fluctuations for nut ingredients. The key factors influencing price volatility are production levels, variations in demand, and tariff rules.
Based on the product type, the nut products market is categorized into Nut Butter, Nut Pastes/ Marzipan Paste/ Persipan Paste, Nut Fillings with Cocoa, Nut Fillings without Cocoa, Caramelized Nuts, and Nut Flour. The nut paste or marzipan paste or persipan paste segment acquired the highest revenue share in the nut products market in 2021. Nut paste is made from raw, roasted, natural, or blanched nuts and is a great source of energy. Vegetable fats and a sizable amount of sugar are used in its production to create a thick consistency.
On the basis of nut type, the nut products market is divided into Almonds, Hazelnuts, Walnuts, Cashews, Peanuts, Pistachios, Macadamias, Pecans, Pine Nuts, Brazil Nuts, and Others. Walnuts segment acquired a significant revenue share in the nut products market in 2021. These nuts are a great source of copper, which the body requires to make the enzymes necessary for the synthesis of neurotransmitters and energy. Additionally, copper assists in the formation of blood vessels and in the betterment of the immune system.
Based on category, the nut products market is bifurcated into conventional and organic. The conventional segment garnered the largest revenue share in the nut products market in 2021. The segment’s growth is attributable to its lower price ranges and easy availability on both, online and offline, places. These variety are prominently used in areas where there are limited market of other categories.
On the basis of quality, the nut products market is segmented into premium and standard. The premium segment procured a significant revenue share in the nut products market in 2021. The premium quality are high grade nut produces which exhibit uniform color, odor, shape, oil content, size, etc. On the quality tests, they are found to be the closest to the one that is freshly picked.
Based on application, the nut products market is segmented into industrial food manufacturers, and foodservice & bakeries. Industrial food manufacturers segment witnessed the largest revenue share in the nut products market in 2021. Nut-based products are preferred by consumers because they help with weight control, increase muscle mass, and have a preference for clean-label products.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 6.5 Billion |
| Market size forecast in 2028 | USD 9.7 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 6.1% from 2022 to 2028 |
| Number of Pages | 404 |
| Number of Tables | 723 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Product Type, Nut Type, Category, Quality, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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On the basis of region, the nut products market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe region garnered the highest revenue share in the nut products market in 2021. The main trend driving manufacturers to develop nut products is the demand for nutritious yet decadent snacks that may satiate consumers' taste buds without jeopardizing nutritional qualities. Consumption of nut goods has increased as a result of the strong desire for organic and low-sugar components and food items among consumers in this region.
Free Valuable Insights: Global Nut Products Market size to reach USD 9.7 Billion by 2028
The major strategies followed by the market participants are Acquisitions and Expansions. Based on the Analysis presented in the Cardinal matrix; Kerry Group and Olam International Limited are the forerunners in the Nut Products Market. Companies such as The Barry Callebaut Group, Mount Franklin Foods, Puratos NV/SA are some of the key innovators in Nut Products Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Kerry Group PLC, The Barry Callebaut Group, Olam International Limited, Puratos NV/SA, Mount Franklin Foods, LLC, Zentis Group, Mandelin, Inc., Royal Nut Company, Kanegrade Ltd., and Blue Diamond Growers, Inc.
By Product Type
By Nut Type
By Category
By Quality
By Application
By Geography
The global Nut Products Market size is expected to reach $9.7 billion by 2028.
Increasing Health Concerns And The Benefits Of Nuts Among Consumers are driving the market in coming years, however, Availability Of Nuts As A Raw Material And Their Changing Prices restraints the growth of the market.
Kerry Group PLC, The Barry Callebaut Group, Olam International Limited, Puratos NV/SA, Mount Franklin Foods, LLC, Zentis Group, Mandelin, Inc., Royal Nut Company, Kanegrade Ltd., and Blue Diamond Growers, Inc.
The Hazelnuts segment acquired maximum revenue share in the Global Nut Products Market by Nut Type in 2021 thereby, achieving a market value of $1.9 billion by 2028.
The Standard segment is leading the Global Nut Products Market by Quality in 2021 thereby, achieving a market value of $5.3 billion by 2028.
The Europe market dominated the Global Nut Products Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3.4 billion by 2028.
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