Summary

Market Overview
A nut is a fruit composed of an inedible hard shell and a seed that is generally edible. Most nuts come from the pistils with inferior ovaries. The growing inclination of consumers towards plant-based and gluten-free products coupled with increasing health awareness is expected to drive the global nut products market. Moreover, an increase in the demand for convenience foods, an increase in the popularity of nuts as a food additive, and an increase in product launches are some of the factors driving the growth of the global nut products market. The global nut products market is estimated to reach a high CAGR of 5.8% during the forecast period 2023-2030.
Market Dynamics:
Growing awareness towards the health benefits of nuts
Intake of nuts is related to reducing the chronic disorder risks and its products such as cashewnut, peanut hull, and coconut shell exhibit anti-bacterial property as well as food preserving feature. Furthermore, the beneficial effects of the nut product consumption on human health are attributed to presence of vegetable protein, fatty acids, minerals, phytosterols, fiber, vitamins, and phenolic in these products. Nut intake results in low formation of atherogenic LDL sub-fraction resulting in less occurrence of heart stroke in persons due to cholesterol reducing effect of nut or its products & presence of low proportion of saturated fats in nut products. As per NCBI study, intake of nut products provides benefits to the consumers against oxidative stress, vascular reactivity, inflammation, hypertension, metabolic syndrome, and visceral adiposity. As per the observations made by US FDA, nuts reduce the risk of type 2 diabetes in the subjects, regulates levels of blood glucose, and reduces coronary heart disease risks as it possesses high proportion of antioxidants. In addition to this, tree nuts including almonds, cashew nuts, walnuts, and pistachios & legume seeds like peanuts are dense diets having many ingredients benefitting human health.
Additionally, rise in the use of food & beverages products with nut as ingredients will enlarge the scope of nut products industry over the prognostic period. Large-scale demand for nut products in bakery, processed foods, and confectionary has offered consumers with numerous options for healthy & tasty diet, thereby steering the business landscape. With large scale production of nut products like peanuts, hazelnuts, almonds, Brazil nuts, macadamia nuts, pine nuts, walnuts, and cashew nuts, the market for nut products will gain momentum over the years to come. For instance, according to the International Nut & Dried Fruits Statistical Yearbook 2019/2020, global production of tree nuts kept growing at a steady pace over the last decade, reaching around 4.6 million metric tons in season 2019/2020. Almond and walnut were the top produced crops, accounting for 31% and 21% of the world share followed by cashews (17%), pistachios (14%) and hazelnuts (12%). The remaining 5% was distributed among pecans, macadamias, Brazil nuts and pine nuts.
Market Segmentation:
Confectionery segment is expected to dominate the global nut products market
Based on the application, confectionery segment held the largest share in 2020, this is owing to the factors such as increase in the investment by the major companies, increase in the demand for low-calorie foods, growing inclination towards taste and increase in the demand for convenience foods. According to a survey conducted by the Almond Board of California, it found that 70% of consumers prefer to eat chocolate with nuts compared to plain chocolate, in large part because the nuts make the confection ore nutritious. 85% of consumers strongly or somewhat agreed that nuts make chocolate more nutritious.
On the other hand, based on type, nut paste segment is expected to grow with a highest CAGR of YY% during the forecast period. Nut paste is largely used as nut spread on breads, cakes and biscuits. The development of technology and increase in consumer awareness of the nutritional properties have led to the development of various nut pastes. Peanut butter is one of the most consumed food spreads and is made by grinding and dry-roasting peanuts. New Zealand brand Fix & Fogg says rising demand from Australian and APAC consumers for more variety in nut butters is leading them to innovate beyond its traditional peanut products. Fix & Fogg is known for its variety of peanut butters with various flavors from Smoke and Fire to Dark Chocolate to Coffee Maple and more, but has more recently also produced other types of nut butters such as cashew, almond, hazelnut and its Everything Butter made with eight nuts and seeds.
Geographical Penetration:
North America is expected to dominate the global nut products market
North America accounts for a dominant share in the global market for nut products, owing to the rising demand and consumption of nutmeals and the high disposable income of the consumers in the region. Accounting for 40% of the world share in 2019/2020, North America was the biggest tree nut producer worldwide, followed by the Middle East (18% of global volume), which production consisted of mainly hazelnuts (50% of the region share) and pistachios (37%). Nuts, such as almonds and peanuts, have gained an excellent reputation for being a healthy snacking alternative with diabetic-friendly attributes, such as comparatively low-fat content and healthy omega-3 fats. Also, its rising application of raw nuts in cooking and blends in savories such as trail mixes have attracted a large number of health-conscious consumers in North America. The United States held largest market revenue share in the North America nut products market. With 38% of share in 2018/2019, the USA kept leading world tree nut production. Almonds (62% of the country share), pistachios (19%) and walnuts (15%) were the most produced crops. World peanut production reached over 41 million metric tons in 2019/20 and China accounted for 38% of the world peanut crop, followed by India with 15%. The next 20% was produced by Nigeria (8%), the USA (6%), Senegal (3%) and Argentina (3%).
Competitive Landscape:
The global nut products market is highly fragmented with many players such as Olam International, Barry Callebaut, Blue Diamond Growers, Zentis GmbH & Co. KG, Mount Franklin Foods, and Kerry Group among others. The key players are adopting various key strategies such as product launches, collaborations, mergers & acquisitions which are contributing to the market globally. For instance, in November 2020, La Morella Nuts launched its Mediterranean Nut Craft. With the expansion, the Mediterranean Nut Craft expert taps into the growing need for healthier indulgence and plant-based products around the world. In May 2019, Tierra Farm expanded a new 12,000-square-foot distribution warehouse in Latham that helped the wholesale organic product company grow to more than USD 45 million in annual revenue. In June 2020, Mount Franklin Foods launched a snack for nut butter lovers, known as Nubu Nut Butter Bites. It is expected to meet the consumer’s preferences for healthier snacking with a nutty indulgence. In March 2019, Blue Diamond expanded its product line with the launch of almonds and fruits.
COVID-19 Impact: Pandemic has positively impacted the global nut products market
The nut products market has been positively affected by the COVID-19 pandemic as people changed their priorities and invested more in buying healthy and immunity-boosting food products. The staggeringly increased sales of nuts and nut products were observed through online stores during the COVID-19 period, which sustained the demand in the market studied. Most people preferred to buy larger quantities at a time, fearing running out of products. Thus, large basket sizes remained a significant reason for the sustenance of nut products across all regions. Moreover, the demand for ready-to-eat products has increased during the pandemic situation. Hence, the demand for nut products has also increased, as nuts such as almonds are rich in vitamin E. Vitamin E is one of the supplements that may directly affect cells of the immune system. Therefore, it can improve it and prevent diseases that occur due to the vulnerability of the immune system. Walnut is one of the great immunity boosters and also can improve heart health, skin, and bone health.
Why Purchase the Report?
• Understand the current market scenario and viability of global nut products over the forecast period
• Visualize the composition of the global nut products market in terms of type, nut type, and application to identify major players, growth potential, and market strategies
• Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
• Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market
What we offer?
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
• Excel data sheet with valuable data points of the global nut products market – Regional and Country level segmentation
• Product mapping in excel for the key products of all major market players
• Market share analysis covering business revenues ($) and revenue share (%) of key market players
The global nut products market report would provide an access to approximately 45 market data tables, 45 figures and 180 pages
Target Audience:
• Food and Beverage Manufacturers
• Import and Export Companies
• Pharmaceutical Companies
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals

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