Nuts Market to Grow with a CAGR of 5.7% Globally through 2028
Growing
popularity of nut-based beverages and expanding snack food industry are factors
driving the global nuts market in the forecast period 2024-2028.
According to
TechSci Research report, “Global Nuts Market - Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the global Nuts
market stood at USD55.23 billion in 2022 and is anticipated to grow with a CAGR
of 5.7% in the forecast period, 2024-2028. The global nuts market is
experiencing robust growth and evolving trends that reflect changing consumer
preferences, health-conscious choices, and sustainability concerns. Nuts,
including almonds, walnuts, cashews, pistachios, and hazelnuts, are celebrated
for their nutritional density, offering a rich source of healthy fats, protein,
vitamins, and minerals.
One prominent
trend is the increasing popularity of nuts in plant-based diets, with nuts
serving as a versatile source of protein and healthy fats. The rise of
nut-based alternatives, such as almond milk and nut-based meat substitutes,
underscores their importance in the evolving culinary landscape.
Consumers are
also gravitating toward nuts as convenient, on-the-go snacks, replacing less
healthy options. This shift aligns with a broader snacking revolution,
emphasizing healthier, more sustainable choices.
Sustainability
plays a pivotal role, with certifications and ethical sourcing practices
gaining prominence. European countries, with their culinary heritage and
quality standards, are central to the global nuts market.
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"Global Nuts Market.”
One of the
prominent drivers of the global nuts market is the increasing emphasis on
health and wellness. Nuts are celebrated for their nutrient density and health
benefits. They are rich in monounsaturated and polyunsaturated fats,
particularly heart-healthy omega-3 fatty acids, which can help reduce the risk
of cardiovascular diseases.
Moreover, nuts
are a source of plant-based protein, making them an attractive option for those
following vegetarian, vegan, or flexitarian diets. This aligns with the growing
global trend of reducing meat consumption for health and environmental reasons.
Nuts provide a valuable source of protein that can help meet daily nutritional
needs.
Nuts are also
recognized for their role in weight management. Despite being calorie-dense,
studies suggest that nuts can promote satiety, leading to reduced overall
calorie intake and potentially aiding in weight control. Nuts require minimal
preparation and can be enjoyed without refrigeration, making them ideal for
busy professionals, students, travelers, and anyone seeking a nutritious and
portable snack. Single-serving nut packs and mixed nut blends have become
staples in the snack aisle, providing consumers with a satisfying crunch and
sustained energy.
Moreover, the
shift towards mindful snacking is driving nut consumption. People are
increasingly choosing snacks that not only taste good but also offer
nutritional benefits, making nuts an attractive option for those looking to
satisfy their hunger with healthier choices.
Employers are
also recognizing the value of promoting nut consumption in the workplace as
part of corporate wellness initiatives. Nuts are often offered as a healthier
alternative to traditional vending machine snacks, supporting employee health
and aligning with sustainability goals.
The global nuts
market is segmented into type, form, end user, sales channel, regional
distribution, and company.
Based on type
the market is divided into almonds, cashews, chestnuts, hazelnuts, pistachios,
and others.
Based on form
the market is divided into whole, diced/cut, roasted, granular.
Roasted nuts
have emerged as the fastest-growing segment in the global nuts industry. The
roasting process enhances the flavor and texture of nuts, making them more
appealing to consumers. Roasted nuts are a popular snack choice due to their
irresistible crunch and rich, savory taste. Moreover, they offer an extended
shelf life, making them a convenient option for both consumers and retailers.
As demand for convenient and tasty snacks continues to rise, roasted nuts are
experiencing surging popularity across the globe. This growth is driven by
their deliciousness, accessibility, and ability to cater to the modern snacking
preferences of health-conscious consumers.
Based on end
user the market is divided into household/retail, food service sector, cafe,
catering, others.
Based on sales
channel the market is divided into online,
departmental stores, supermarkets/hypermarkets, others (direct sales, etc.).
Based
on region the market is segmented into five regions Asia Pacific, North
America, Europe, Middle East & Africa, and South America.
Major companies
operating in Global Nuts Market are:
- John B. Sanfilippo & Son
- Olam International Ltd
- Diamond Foods, Inc.
- Kraft Foods Inc.
- Germack Pistachio Company
- Hines Nut Company
- Hampton Farms, Inc.
- Star Snacks Co., LLC
- Mariani Nut Company
- Borges Agricultural & Industrial Nuts
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“The global nuts
market is thriving, driven by diverse trends and consumer preferences.
Health-conscious choices have elevated nuts as a nutritious snack, with
plant-based diets and nut-based alternatives rapidly gaining ground. Nuts are
at the forefront of the snacking revolution, offering both convenience and
health benefits. Sustainability and ethical sourcing practices have become
essential considerations, with certifications and upcycling initiatives gaining
traction. Furthermore, the industry is evolving to cater to functional and
health-promoting nut products. Europe stands as a dominant region in the global
nuts market, reflecting its rich culinary tradition and commitment to quality.
Overall, the global nuts market is witnessing dynamic growth and innovation,
driven by changing lifestyles and a growing awareness of nutritional benefits.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Nuts Market – Global Industry Size, Share,
Trends, Opportunity, and Forecast, Segmented By Type (Almonds, Cashews,
Chestnuts, Hazelnuts, Pistachios, Others), By Form (Whole, Diced/Cut, Roasted,
Granular), By End User (Household/Retail, Food Service Sector, Cafe, Catering,
Others) By Sales Channel (Online, Departmental Stores,
Supermarkets/Hypermarkets, Others (Direct Sales, etc.)), By Region, Competition”,
has evaluated the future growth potential of global nuts market and provides
statistics & information on market size, structure and future market
growth. the report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in the global nuts market.
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