Summary
Major players in the nut products market are Olam International, Barry Callebaut, Blue Diamond Growers, Kerry Group plc, Zentis Group, Mount Franklin Foods LLC, Mandelin Inc., Besana, Lubeca, Puratos, Almendras Llopis SA, Kanegrade Ltd., Moll Marzipan GmBH, Kondima Engelhardt GmbH & Co. KG, Treehouse Almonds, Royal Nut Company, and CSM Group Inc.
The global nut products market is expected to grow from $3.71 billion in 2022 to $3.99 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The nut products market is expected to grow to $5.21 billion in 2027 at a CAGR of 6.9%.
The nut products market consists of sales of macadamia nuts, brazil nuts, pecans, peanuts, and other types.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.
Nut products refer to nuts made up of seeds and dried fruit enclosed in a tough shell that provides many nutrients and antioxidants. These are used as typical snacks that are ideal for travel.
Europe was the largest region in the nut products market in 2022. The regions covered in the nut products report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of nut products are nut butter, nut paste or marzipan paste or persipan paste, nut fillings with cocoa, nut fillings without cocoa, caramelized nuts and nut flour.Nut butter is a soft fatty spreadable food product obtained by pulverizing nuts into a paste.
The types of nuts include almonds, hazelnuts, walnuts, cashews, peanuts and pistachios in the form of roasted, and unroasted. It is available in different categories such as organic, and conventionally used in industrial food manufacturers, chocolate confectionery products, bakery products, ice cream and frozen desserts, cereals and snack bars, beverages, savory products, foodservice and bakeries and bakery shops.
The rising number of health-conscious people is expected to boost the growth of the nut products market going forward.Health awareness is the knowledge and awareness of health, healthcare, medical needs, diseases, and preventive actions in general.
Since there is a growing awareness of health and changing food preferences among consumers, there is a higher demand for nut products to provide many nutrients, antioxidants, and triglycerides.For instance, a study conducted by Beneo, a German-based developer and producer of natural sources of food, feed, and pharmaceutical products found that in 2020, 6 out of 10 European consumers are taking active steps to make their nutrition healthier by substituting snacks with meals with good ingredients and nutritional value.
Therefore, the rising number of health-conscious people is driving the growth of the nut products market.
Innovative products are a trend gaining popularity in the nut products market.The companies are increasingly focusing on bringing new innovative products into the market.
For instance, in August 2022, Beech-Nut Nutrition Company, a Switzerland-based food production company that provides baby food products, launched a New Veggie-Forward Crispeas Snack in a novel snack form for toddlers and older kids.Crispeas are made by using a new format, the peas are converted into puffed pea mini sticks that have a crunchy texture with a savory, delicious flavor.
This new snack innovation makes it simpler for parents to include fruits and vegetables in their kids’ diets and it is non-GMO, gluten-free, and grain-free. Crispeas are the latest innovation added to Beech-Nut’s snack portfolio, which also includes melties, mini-waffles with hidden veggies, and fruity oat bars.
In August 2021, SunTree Snack Foods, a US-based company that produces snack nuts, baking nuts, trail mixes, dried fruit, and healthy snacks acquired Carolina Nut for an undisclosed amount.This acquisition helps SunTree Snack Foods to explore more opportunities in the east coast market and offer a wide range of food and snack products.
Carolina Nut is a US-based company and producer of branded and private label nut products that include unique flavored nuts, flavored peanuts, spicy nuts, and candied nuts.
The countries covered in the nut products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The nut products market research report is one of a series of new reports that provides nut products market statistics, including nut products industry global market size, regional shares, competitors with a nut products market share, detailed nut products market segments, market trends and opportunities, and any further data you may need to thrive in the nut products industry. This nut products 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.
