The global Nuts market size was valued at USD 51.15 billion in 2021 and is projected to reach USD 75.55 billion by 2030 at a CAGR of 4.43% from 2022 to 2030.
Nuts and seeds contain unsaturated fats and other nutrients that offer heart disease protection. In addition, they gained popularity as snack food because they are inexpensive, simple to store, and convenient to transport. Almond, hazelnut, cashew, walnuts, pine nuts, sunflower nuts, and other types of nuts are available on the market. In addition to cashew nuts, peanuts, hazelnuts, and walnuts, numerous manufacturers offer new product innovations containing almonds and other nuts, such as cashew nuts, peanuts, hazelnuts, and walnuts.
Because they are a great source of vitamins, protein, antioxidants, fiber, and other necessary minerals, consumers are becoming more and more aware of the benefits to their health. This is helping to drive market expansion. The expanding nut snacks industry has also fueled market expansion in developing nations like China and India over the past few years.
People have opted for high-quality nut products due to the rising health consciousness of consumers and the rise in disposable income across all regions. The increasing demand for nut products is a result of changing consumer preferences for convenience items with health and wellness claims. An evolving consumption pattern has resulted from rising health concerns and awareness. Nut-derived derivatives, such as pastes and butter, are increasingly utilized in a vast array of baked confections, particularly in the European and North American markets.
Nuts are utilized in a variety of ways by various end-users, and they are also gaining popularity in the kitchen. The consumption of nuts and seeds has numerous beneficial effects on human health, including lowering blood cholesterol, preventing diabetes and gallstones in men and women, and other medical applications. Aside from this, numerous key players consider cosmetics to be an essential ingredient. Nut spreads, gravy and salad dressings, dairy inclusions and toppings, energy bars, confectionery fillings and bars, bakery fillings and inclusions, and food for infants and children are among the many edible products that can be created from edible nuts.
Nut production has undergone several alterations to increase and support quantity and quality, including mechanization and better planting materials. These changes have produced reassuring effects in cropping systems and agroecological management systems. Culturing high-quality nuts offers nut growers several competitive advantages and the chance to commercialize, diversify, and integrate the sector into the global market. It is anticipated that the market will continue to grow steadily due to the industry's considerable expansion in the production-extension, added-value, commercialization, sector organization, and export-process areas.
The raw materials for nut products are agricultural commodities whose prices and availability are subject to significant fluctuations. Given their variable yields, it is more difficult to acquire exotic and rare nuts. Manufacturers of ingredients that use nuts as a raw material must have an inventory management system in place, which is typically not the case, particularly for small and medium-sized manufacturers. Consequently, the process of transforming nuts into value-added products such as butter, pastes, and fillings becomes expensive, and these high costs are ultimately passed on to end consumers by processed food & beverage manufacturers.
The robust growth and promising potential of plant-based dairy alternatives and meat analogs have created numerous opportunities for manufacturers of nut products. Key giants such as Olam International and Barry Callebaut have already intensified their efforts to cater to these lucrative end-use opportunities in order to gain a competitive advantage in the near future.
In an increasing number of applications, nut-based butter, paste, fillings, and flour are used, with bakery and confectionery being the most prevalent. The development of plant-based savory products also incorporates nut flour and paste. Almonds, hazelnuts, and walnuts are among the most important raw material sources that are transformed into semi-finished products.
Study Period | 2018-2030 | CAGR | 4.43% |
Historical Period | 2018-2020 | Forecast Period | 2022-2030 |
Base Year | 2021 | Base Year Market Size | USD 51.15 Billion |
Forecast Year | 2030 | Forecast Year Market Size | USD 75.55 Billion |
Largest Market | Europe | Fastest Growing Market | Asia Pacific |
In 2021, Europe accounted for approximately 30 percent of the global market share for nuts. In this region, the growing awareness of the health benefits of nut consumption is driving market expansion. In addition, rapid changes in the lifestyles of consumers who are increasingly concerned with health and wellness will contribute to the industry's expansion over the coming years. The increasing consumption of almonds, walnuts, and cashew products in Germany and the United Kingdom as a result of the high nutritional value and low carbohydrate content of nut products is anticipated to drive market expansion.
From 2022 to 2030, Asia-Pacific is anticipated to have the fastest-growing market for nuts, with a CAGR of 5.3%. China, India, and Japan have a massive consumer base for nuts like almonds, peanuts, cashews, and walnuts, which will drive regional demand. In the coming years, the industry's growth will be bolstered by the growing health consciousness of consumers. In addition, the region is anticipated to grow at the fastest rate in the regional segment of the market during the forecast period, as a result of the rising disposable income and population.
A substantial portion of the global market is expected to be accounted for by North America due to the region's high disposable income, rising health and well-being spending, and rising nutmeal demand and consumption. Due to their relatively low-fat content and beneficial omega-3 fats, nuts, such as almonds and peanuts, have earned a stellar reputation in the area as a healthy snacking alternative.
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This market can be segmented on the basis of products, distribution channels, regions and competitors. The peanuts segment contributed the largest share of revenue to the global nuts market growth in 2021 and is projected to grow at a CAGR of 4.4% between 2022 and 2030. Increasing demand for almonds, walnuts, cashews, and other products is anticipated to drive market expansion during the forecast period. In addition, rising consumer health concerns have increased the demand for low carbohydrate foods as a means of preventing health complications, thereby accelerating the market's growth over the forecast period.
From 2022 to 2030, the hazelnuts segment is anticipated to grow at the highest rate, 5.8 percent. The availability of hazelnuts as a calorie-dense, nutrient-rich, and convenient food item through retail channels is driving the growth of the market. In addition, the increasing popularity and demand for nuts as a result of their high antioxidant and healthy fat content has created a substantial industry demand.
In the global nut market, the almond segment is anticipated to account for a moderate share. It is anticipated that customer demand will increase due to growing consumer awareness of the health advantages of almonds due to their high vitamin and protein content.
Due to their appealing flavor, expanding production across producing countries, and favorable trading conditions, cashew demand is rising.
In 2021, the offline channel contributed more than 80 percent of the global nuts market. Consumers prefer offline channels for purchasing consumer goods, groceries, food products, and nuts, where product quality can be physically verified. In addition, the convenience of accessing and searching for various nut products in stores has likely contributed to the segment's growth in recent years. Due to global improvements in distribution channel networks, offline channels are anticipated to continue to dominate over the forecast period.
From 2022 to 2030, the online segment of the nuts market is anticipated to grow at a CAGR of 4.8%, representing the segment with the highest rate of expansion. Numerous suppliers of these products offer their wares on their websites as well as on e-commerce platforms such as Amazon, which have projected the market's growth over the coming years. In addition, the major factor driving the growth of this segment is the increasing adoption of the e-commerce sector for the purchase of consumer goods and food products due to the internet penetration rate.
Covid-19 had some profound adverse impacts on the global advanced ceramics market.
COVID-19 spread across the world from China, making the whole world stand still and to a complete lockdown situation. Covid-19 is an infectious disease that was caused by a newly discovered coronavirus. During the time, the fatality rate among the population above 40 was also high globally. The disease causes severe illness for people suffering from medical conditions like diabetes, cardiovascular disease, chronic respiratory disease, etc.
Considering the situation during that time, it was declared a pandemic which led to numerous countries, including the major economies like China, the United States, India, and others, implementing lockdowns which adversely affected the global economy.
In the first two quarters of 2020, the economic and industrial operations temporarily halted. Almost every manufacturing unit where advanced ceramics is used, such as electrical and electronics, transportation, industrial, chemical, and other End-user Industries (except medical), reduced their manufacturing capacities due to the lack of workers. The lockdown implemented put a halt to global supply chains. This resulted in repercussions in terms of both production and demand for advanced ceramics.
With time the lockdowns were uplifted, and relaxation was made to the public. Gradually, the economy picked up the pace and started its operations, bringing the demand in the global advanced ceramics market and increasing among various industries. As the situation improved during the initial months of 2021, the economies also strengthened their fiscal policies and initiated their development process; the end-user industries began their activities, bringing the overall ceramics market back on track.