The global Nuts market 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.
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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.
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.
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 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 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.
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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.
To expand their businesses, numerous manufacturers and suppliers anticipated focusing on the logistical development and strengthening of the distribution channel. Such initiatives are anticipated to increase the product's adoption rate among consumers worldwide. Further driving the market are mergers, acquisitions, and joint ventures. Diamond Foods, Inc., John B. Sanfilippo & Son, Kraft Foods Inc., Olam International Ltd, Borges Agricultural & Industrial Nuts, Hines Nut Company, Mariani Nut Company, WeAreBio, Germack Pistachio Company, Hampton Farms, Inc., Star Snacks Co., LLC, Fresh Nuts GmbH, Tropical Foods, Durak Findik, Grower Direct Nut Co. Ltd. are some prominent key players operating in the Global Nuts Market.