Nut Products Market Size, Share & Outlook Trends to 2028

Global Nut Products Market Size, Share & Industry Trends Analysis Report By Product Type, By Nut Type, By Category (Conventional and Organic), By Quality (Standard and Premium), By Application, By Regional Outlook and Forecast, 2022 - 2028

Published Date: October-2022 | Number of Pages: 404 | Format: PDF | Report ID: KBV-20455

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COVID-19

Get in-depth analysis of the COVID-19 impact on the Nut Products Market

Market Report Description

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.

Nut Products Market - Global Opportunities and Trends Analysis Report 2018-2028

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.

COVID-19 Impact Analysis

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.

Market Growth Factors

Increasing Health Concerns And The Benefits Of Nuts Among Consumers

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.

Increasing Range Of Uses For Nuts And Compounds

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.

Market Restraining Factors

Availability Of Nuts As A Raw Material And Their Changing Prices

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.

Product Type Outlook

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.

Nut Products Market Share and Industry Analysis Report 2021

Nut Type Outlook

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.

Category Outlook

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.

Quality Outlook

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.

Application Outlook

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.

Nut Products Market Report Coverage
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
  • Increasing Health Concerns And The Benefits Of Nuts Among Consumers
  • Increasing Range Of Uses For Nuts And Compounds
Restraints
  • Availability Of Nuts As A Raw Material And Their Changing Prices

Regional Outlook

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

KBV Cardinal Matrix - Nut Products Market Competition Analysis

Nut Products Market - Competitive Landscape and Trends by Forecast 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.

Strategies deployed in Nut Products Market

» Partnerships, Collaborations and Agreements:

  • Oct-2021: Olam Food Ingredients (OFI) partnered with Agri-Neo, an innovative food safety technology company. Through this partnership, the companies aimed to provide the industry’s first organically pasteurized dried onions by combining OFI’s market leadership in dried onions and Agri-Neo’s pasteurization technology, Neo-Pure.

» Product Launches and Product Expansions:

  • Jun-2022: Blue Diamond Growers introduced more flavors of Elote Flavoured Almonds. The new flavors include Mexican-style street Corn Almonds, Korean BBQ Almonds, Mash-Ups Cinnamon and Maple Almonds, and Mash-Ups Dark chocolate and chili pepper almonds.
  • Nov-2021: Barry Callebaut unveiled a dairy-free and plant-based solution, Dairy-Free Compounds under its namesake brand. The product introduces a versatile, solution set that’s 100% plant-based and 100% dairy-free. This chocolate product innovation joined Barry Callebaut’s North American existing Plantcraft range of dairy-free chocolates, nuts, cocoa powders, and cacao fruit experience ingredients.

» Mergers & Acquisition:

  • Jun-2022: Puratos took over Rapidle, a French start-up specializing in e-commerce solutions. Under this acquisition, Puratos focused on the digital transformation of craftsmen, which enhanced its online capabilities. The acquisition allowed Puratos to support the digital transformation of its customers even more effectively and strengthen its offerings in France.
  • Apr-2022: Olam acquired Club Coffee, one of Canada’s largest roasters of packaged coffee to the ‘At Home’ segment. Through this acquisition, Olam aimed to strengthen its growth strategy to provide sustainable, natural, value-added food and beverage ingredients and solutions via a wide range of channel mix, to customers around the world.
  • Mar-2020: Mount Franklin Foods acquired Arro Food Processing Division, a contract-manufacturer of cereals, trail mixes, and nuts. Through this acquisition, Mount Franklin Foods aimed to enhance its offerings by adding the synergistic Element Food Solutions. The acquisition enabled Mount Franklin Foods to helps more consumers in more categories and assist them to shift manufacturing challenges into successes.

» Geographical Expansions:

  • Sep-2022: Mount Franklin Foods expanded its global footprints by improving its candy manufacturing facility in San Jeronimo, a port of entry in the Mexican state of Chihuahua. From this expansion, the addition to the existing facility would double both square footage and capacity when it opens in January 2024.
  • Jul-2022: Royal Nuts expanded its geographical footprint by opening a cashew nut processing plant in Ivory Coast, the U.S. under its subsidiary Dorado Ivory. The new facility with an annual processing capacity of 75,000 MT deemed to be the first of its kind single roof processing unit fashioned with a seamless online system.
  • Mar-2022: Kerry expanded its geographical footprint by opening a newly upgraded facility in Rome. Through this expansion, Kerry aimed to provide integrated taste and nutrition solutions to help customers meet growing consumer demand in the poultry, seafood, and alternative protein markets across the US and Canada.
  • Nov-2021: Olam expanded its business by revealing a new brand, Ofi. The brand taps into themes and colors which reflect ofi’s ability to drive innovation in all areas of its business to deliver more growth and impact for customers. The ofi brand carries the strong origination and supply chain heritage of Olam. It conveys the distinct and accelerated changes being made in the business to continuously improve and deliver a differentiated customer value proposition.
  • Mar-2021: Barry Callebaut expanded its geographical footprint by expanding its La Morella Nuts brand into the United States and opening a global Center of Expertise in Reus. The facility combined expertise in taste, texture, sourcing, and sustainability, as well as application knowledge. It offered a virtual and physical experience for customers to co-develop new ingredients and applications.

Scope of the Study

Market Segments Covered in the Report:

By Product Type

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

By Nut Type

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

By Category

  • Conventional
  • Organic

By Quality

  • Standard
  • Premium

By Application

  • Industrial Food Manufacturers
    • Chocolate Confectionery Products
    • Bakery Products
    • Ice Cream & Frozen Desserts
    • Beverages
    • Cereals & Snack Bars
    • Others
  • Foodservice & Bakeries

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • 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.
  • Blue Diamond Growers, Inc.

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Related Reports:

North America Nut Products Market Report 2022-2028

Europe Nut Products Market Report 2022-2028

Asia Pacific Nut Products Market Report 2022-2028

LAMEA Nut Products Market Report 2022-2028

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