The global tree nuts market size was valued at USD 52.68 billion in 2023. It is expected to reach USD 138.96 billion in 2032, growing at a CAGR of 11.38% over the forecast period (2024-32). Tree nuts, such as almonds, walnuts, cashews, pistachios, and hazelnuts, are recognized for their nutritional benefits, including high protein, healthy fats, vitamins, minerals, and antioxidants. Growing consumer awareness of the health benefits associated with tree nuts fuels market demand.
Tree nuts are scrumptious seeds or fruits that have been dried out and are produced by woody plants that do not even have leaves. Nuts from trees are an excellent source of vegetable proteins of a high quality, as well as fibre, unsaturated fatty acids, and a variety of other nutrients and minerals, such as vitamin E and magnesium. Market enterprises are developing novel and distinctive snack options in response to the rising demand from customers in the millennial generation. Because they have a variety of positive effects on one's health, consumers have shown an increased interest in purchasing tree nuts. Millennials' growing preference for plant-based diets is the primary factor propelling market growth at the moment. It is anticipated that the global market for tree nuts will expand as a result of the numerous health benefits associated with eating these nuts. The fact that tree nuts are becoming more popular as a snack option among people in their 20s and 30s is a development that is encouraging for the industry. The purchasing power of millennials is rising all around the world, which is anticipated to assist in the expansion of the industry. Millennials are the generation currently in their 20s and 30s.
There has been a discernible increase in the prevalence of cardiovascular diseases all over the world over the course of the last few years, which has led to an increase in the need for associated diagnostic and therapeutic supplements. For example, according to a study conducted by the Centers for Disease Control and Prevention (CDC), in the year 2019, coronary artery disease is expected to affect approximately 18.2 million adults in the United States who are between the ages of 20 and 70. This represents approximately 6.7 percent of the total population in the United States.
People are becoming more health-conscious, and as a result, they are increasing their consumption of tree nuts. This, in turn, is helping to boost demand in markets all over the world. Tree nuts help to maintain healthy cholesterol levels, lower blood pressure, and improve heart health.
The increasing prevalence of allergic reactions that are brought on by eating tree nuts, such as cramping in the abdominal region, itchiness in the throat and mouth, nausea, difficulty swallowing, shortness of breath, runny nose, and a number of other symptoms, are putting a damper on sales in international markets.
It is projected that factors such as high price swings in tree nuts and the increasing availability of low-priced substitutes such as hemp seeds, sunflower seeds, sesame seeds, and others will slow the expansion of the market for tree nuts.
Pistachios, almonds, and cashews are examples of tree nuts that can complement the nutritional and protein requirements of the human body. These factors are anticipated to contribute to a rise in tree nut consumption, resulting in a market increase. The increasing usage of tree nut oils in the cosmetics industry is one of the most significant market trends for tree nuts. Nuts are an excellent source of nourishment for the skin and hair, as well as a remedy for discomfort and dark circles. As a result of the presence of antioxidants, it is efficient at removing wrinkles and protecting the skin from damage. Tree nut oils are often used in anti-aging cosmetics because they help the skin retain moisture and fight ageing.
Study Period | 2020-2032 | CAGR | 11.38% |
Historical Period | 2020-2022 | Forecast Period | 2024-2032 |
Base Year | 2023 | Base Year Market Size | USD 52.68 billion |
Forecast Year | 2032 | Forecast Year Market Size | USD 138.96 billion |
Largest Market | Europe | Fastest Growing Market | North America |
In 2021, Europe held a dominant position on the market and accounted for a share of more than 30.0 percent. There is a shift occurring among European consumers away from conventional products and toward organic items. The ever-increasing popularity of healthy and nutritious snacking and eating habits among consumers in Europe is continuing to boost demand for tree nuts and ground nuts alike.
The largest consumer of tree nuts in the world is Germany. Intake of almonds in the United States averaged two pounds per person between the years 2001 and 2020, with a year-over-year growth of more than 50 percent over the course of the last decade. As a result of consumers' familiarity with organic goods, the United States has one of the highest per capita rates of consumption of healthy goods when compared to other parts of the world.
A move away from conventional sources of protein in the United States, such as red meat, has led to an increase in the consumption of nuts due to their high protein content and growing popularity among the population. Consumers are finding it much simpler to get their hands on nuts thanks to increased self-sufficiency in nut production as well as widespread availability of nuts through on-trade and off-trade distribution channels.
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In 2021, the almonds segment dominated the market and accounted for over 30.0% of worldwide sales. Almonds' delicate flavour and flavorful crunch complement a broad range of ingredients and variations. Almonds are naturally gluten-free, dairy-free, paleo, keto, and vegan, which makes them a convenient snack or addition to dairy-based beverages.
The plant-based revolution is currently a big trend, and almonds remain a crucial ingredient driving innovation in the snack food business. Blue Diamond Growers debuted Almond Breeze Extra Creamy Almond Milk, a plant-based alternative to whole milk, in January 2022. The milk is perfect for users who are allergic to dairy or lactose-intolerant, prefer non-dairy options for cooking and drinking, or are vegan.
The entire segment dominated the market in 2021, accounting for more than 70 percent of the global revenue, and is anticipated to grow at the highest CAGR during the forecast period. The predominant form of tree nuts is the whole. Snacks and midday meals are also common applications. The most common type of treenut in the world is roasted nuts.
Numerous individuals favour roasted or salted nuts as a snack. It may be kept for a long time because to its crunchiness. The vast majority of tree nuts are consumed whole, as culinary additives, or in medicinal preparations. In numerous Asian cultures, almonds have a key role in Ayurvedic treatment. The preference of consumers for entire tree nuts decreases the risk of infection, which adds to market expansion.
In 2021, the internet segment dominated the market and accounted for more than 50 percent of worldwide sales. The tree-nut internet distribution channel consists of e-commerce sites. Consumer preference for e-commerce is anticipated to propel the segment's expansion. The nationwide lockdown increased the demand for tree nut sales on the Internet.
Due to the epidemic, e-commerce channels and online grocery stores are gaining customer traction as individuals adapt to purchasing groceries online. The COVID-19 epidemic had a significant impact on the offline segment's growth due to the closure of the aforementioned stores. In addition, international tourism ground to a halt as a result of the global lockdown imposed by governments.
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.