Global Nuts Market Size, Share, Growth Analysis, By Products(Almonds, Peanuts), By Distribution Channels(Offline and Online) - Industry Forecast 2024-2031

Report ID: SQMIG30I2147 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 65 | Figures: 77

Global Nuts Market Insights

Global Nuts Market size was valued at USD 54.1 billion in 2021 and is poised to grow from USD 55.9 billion in 2022 to USD 81 billion by 2030, growing at a CAGR of 4.6% in the forecast period (2023-2030).

Due to increased consumer awareness of the need to maintain a healthy lifestyle, people are including fruits and nuts into their diets, increasing their water intake, and adopting other healthy eating practices. The wellbeing and health of an individual can be greatly impacted by these seemingly little practises. The World Health Organization (WHO) advises adults to include nuts in their diets because of their health benefits, and as a result, consumers are realising the value of this nutritious food, which is causing the global market to expand. To draw in lots of health-conscious customers, businesses in the market are starting to practise organic farming. Global nut cultivation is also expected to rise in the next few years due to the growing use of raw nuts, nutmeals, and blends in snacks like trail mixes. For instance, starting in January 2023, the new Nut milk line of chocolate will be vegan, gluten-free, dairy-free, and contain 30% less sugar than conventional milk chocolate. Despite being a healthy snack option, the high calorie and fat content of nuts, which is to blame for the rise in obesity, is one of the main obstacles to the global nuts market expansion. Additionally, it is predicted that the market expansion will be further hampered by the prevalence of nut allergies among a particular population segment.

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The global nuts market is highly competitive, with numerous players operating at both regional and global levels. These companies compete on the basis of various factors, such as price, quality, packaging, and innovation. They also focus on expanding their market presence through strategic partnerships, collaborations, and mergers & acquisitions. In addition to these established players, there are also numerous smaller players that operate in specific regions or specialize in niche products. These companies often compete on the basis of product differentiation, quality, and price. Overall, the global nuts market is highly competitive, and the key players are constantly striving to maintain their market position through various strategies. 'Olam International (Singapore)', 'Archer Daniels Midland Company (United States)', 'Barry Callebaut (Switzerland)', 'Blue Diamond Growers (United States)', 'Cargill, Inc. (United States)', 'Diamond Foods (United States)', 'Ferrero Group (Italy)', 'Golden Peanut and Tree Nuts (United States)', 'John B. Sanfilippo & Son, Inc. (United States)', 'Kraft Heinz Company (United States)', 'Mariani Nut Company (United States)', 'MondelÄz International (United States)', 'Nestlé S.A. (Switzerland)', 'Nutiva (United States)', 'Olam Edible Nuts (United States)', 'PepsiCo, Inc. (United States)', 'Royal Nut Company (Australia)', 'The Hershey Company (United States)', 'The J.M. Smucker Company (United States)', 'Treehouse Foods, Inc. (United States)', 'Tyson Foods, Inc. (United States)', 'Wm. Wrigley Jr. Company (United States)'

Increasing paleo diets, vegan food trends, and other healthy eating trends are significant drivers driving the nut market's explosive expansion globally. Because of their high levels of protein, good fats, and carbs, nuts play a significant role in these diets. The global industry has therefore been driven in recent years by rising consumer knowledge of the health benefits of nuts. A broader audience has recently been the objective for nut producers as a result of the younger generation's inclination for natural and organic products.

Many premium nuts, such as macadamia nuts, cashews, and pistachios, are rich in nutrients like protein, fiber, and healthy fats. Consumers are willing to pay more for these nuts because they see them as a healthy snack option that can support their overall health and well-being. Premium nuts are often prized for their unique taste and texture. For example, macadamia nuts are known for their buttery flavour, while pistachios are appreciated for their crunchiness. Consumers are willing to pay more for these nuts because they offer a more satisfying snacking experience.

In 2021, Europe dominated the global market. Furthermore, the market growth will be aided by quick changes in consumer lifestyles as they become more concerned with their health and wellness. Due to the excellent nutritional value and low carb content of nut products, the market for almond, walnut, and cashew products is expected to rise in Germany and the United Kingdom.

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Global Nuts Market Size, Share, Growth Analysis, By Products(Almonds, Peanuts), By Distribution Channels(Offline and Online) - Industry Forecast 2024-2031

Global Nuts Market Insights

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