PUBLISHER: The Business Research Company | PRODUCT CODE: 1503858
PUBLISHER: The Business Research Company | PRODUCT CODE: 1503858
Nuts are the hard-shelled, edible seeds of certain plants, often packed with healthy fats, protein, and essential nutrients. They can be consumed raw, roasted, or used as ingredients in a wide range of culinary creations, snacks, desserts, and nut butter, providing a valuable source of protein, healthy fats, and dietary fiber. Nuts present a versatile and nutrient-dense food choice that can be incorporated into diverse dishes as part of a healthy and well-rounded diet.
The primary varieties of nut products include almonds, peanuts, cashews, walnuts, hazelnuts, and pistachios. These products are distributed through various channels such as retail stores, supermarkets or hypermarkets, specialty food and beverage outlets, traditional grocery stores, franchise establishments, and online retail platforms. They find applications in a multitude of sectors including snack foods, bakery and confectionery, cereals and granola bars, nutritional and health products, cooking and culinary uses, nut-based dairy alternatives, cosmetics and personal care items, and industrial applications.
The nuts market research report is one of a series of new reports from The Business Research Company that provides nuts market statistics, including nuts industry global market size, regional shares, competitors with a nuts market share, detailed nuts market segments, market trends and opportunities, and any further data you may need to thrive in the nuts industry. This nuts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The nuts market size has grown strongly in recent years. It will grow from $55.02 billion in 2023 to $58.33 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The expansion during the historical period can be attributed to a heightened awareness of the health benefits linked with consuming nuts, a growing demand for plant-based protein sources, the increasing popularity of snacking culture, shifts in dietary preferences towards natural and wholesome foods, and the emergence of nut-based alternatives in various food products.
The nuts market size is expected to see strong growth in the next few years. It will grow to $74.35 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The anticipated growth in the forecast period can be attributed to climate change affecting nut production and distribution patterns, consumers' evolving preferences towards organic and sustainably sourced nuts, demographic shifts and urbanization influencing nut consumption, the rising adoption of nut-based products within the food and beverage industry, and the integration of nuts into functional foods and nutraceuticals. Key trends expected in the forecast period include the emergence of innovative nut snacks and trail mixes, a growing demand for premium and gourmet nut products, the development of fortified nut products offering additional health benefits, the integration of nuts into non-food sectors such as cosmetics and personal care, and the increasing utilization of nuts in plant-based meat substitutes and dairy alternatives.
The growth of the nuts market is anticipated to be driven by the increasing popularity of plant-based diets. Plant-based diets mainly include foods derived from plants such as fruits, vegetables, grains, nuts, and seeds, with minimal or no consumption of animal products. The rising trend of plant-based diets is due to growing awareness of environmental sustainability, health benefits, and ethical concerns about animal welfare. Nuts are contributing to the appeal of plant-based diets due to their versatility, offering a rich source of protein, healthy fats, and essential nutrients, making them a satisfying and nutritious choice for those embracing plant-based eating. For instance, in June 2021, a report by Grubhub revealed a 17% increase in vegan food delivery orders, with a notable rise of 28% in plant-based burger orders and a 55% surge in vegetarian orders compared to 2020 trends. Hence, the growing popularity of plant-based diets is fueling the expansion of the nuts market.
Major players in the nuts market are intensifying their efforts to develop innovative products such as flavored snack nuts to gain a competitive advantage. Flavored snack nuts are nuts seasoned, coated, or infused with various flavors to enhance their taste and appeal as snacks. For instance, in April 2024, PLANTERS, a US-based snack food company under Hormel Foods Corporation, launched PLANTERS Nut Duos Snacks, offering unique combinations of two nut types and flavors for a diverse snacking experience. The product is crafted to provide the optimal snacking experience with two complimentary flavors on two types of nuts, suitable for various occasions. The launch of this innovative product represents a significant advancement in the nuts market, catering to evolving consumer preferences and reinforcing the PLANTERS brand's leadership position.
In May 2023, Flagstone Foods, a US-based provider of private-label healthy snacks, acquired Emerald Nuts from Campbell Soup Company for an undisclosed amount. This acquisition reflects a strategic shift towards independent branding, leveraging consumer insights for product development, job creation, market expansion, and enhanced competitiveness within the nuts market. Emerald Nuts is a US-based producer of snack nuts and trail mixes.
Major companies operating in the nuts market are Cargill Incorporated, Nestle S.A., Archer Daniels Midland Company, BASF SE, PepsiCo Inc., Olam International Ltd, Mondelez International, Kraft Heinz Company, Dupont danisco, The J.M. Smucker Company, Nutreco, Novozymes AS, Blue Diamond Growers, Chr. Hansen Holding AS, John B. Sanfilippo & Son Inc., Diamond Foods Inc., Hampton Farms Inc., Novus International Inc., Borges Agricultural & Industrial Nuts, Tropical Foods Company Inc., Nutiva, Mariani Nut Company, Tierra Farm Inc., Star Snacks, Hines Nut Company, Royal Nut Company, Waterford Nut Company, WeAreBio, Germack Pistachio Company
Europe was the largest region in the nuts market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nuts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the nuts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The nuts market consists of sales of macadamia nuts, Brazil nuts, pecans, nut flour, nut oils, pine nuts, and mixed nuts. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Nuts Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on nuts market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for nuts ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The nuts market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.