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Home ➤ Food and Beverage ➤ Food and Beverage Additives & Supplements ➤ Nuts Market
Nuts Market
Nuts Market
Published date: Nov 2023 • Formats:
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  • Home ➤ Food and Beverage ➤ Food and Beverage Additives & Supplements ➤ Nuts Market

Global Nuts Market By Product Type (Almonds, Peanuts, Walnuts, Hazelnuts, and Other Product Types), By Distribution (Online and Offline), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2023-2033

  • Published date: Nov 2023
  • Report ID: 78387
  • Number of Pages: 310
  • Format:
  • Overview
  • Table of Contents
  • Major Market Players
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  • Quick Navigation

    • Report Overview
    • Key Takeaways
    • Product Type Analysis
    • Distribution Channel Analysis
    • Driving Factors
    • Restraining Factors
    • Growth Opportunities
    • Trends
    • Key Маrkеt Ѕеgmеntѕ
    • Regional Analysis
    • Key Players Analysis
    • Recent Developments
    • Report Scope

    Report Overview

    The Global Nuts Market is anticipated to be USD 110 billion by 2033. It is estimated to record a steady CAGR of 5.7% in the Forecast period 2023 to 2033. It is likely to total USD 63.2 billion in 2023.

    Nuts are rich in nutrients and are derived from many plants and trees. The most commonly eaten nuts consumed worldwide include cashews, almonds, peanuts walnuts, pistachios and walnuts. hazelnuts, macadamia nuts, and pecans nuts, among other varieties. In addition to being eaten raw, or cooked as snacks, and as a component in food items, nuts offer vegetable oil and nut butters.

    The nut market is a thriving global industry with a wide variety of nuts, buyers and production areas. Nuts are gaining popularity around the world due to their nutritional value, tasty flavor and flexibility to be used in all kinds of cooking and baking recipes. They are also seeing growth as a healthy snack choice over less nutritious options.

    Nuts Market

    *Actual Numbers Might Vary In The Final Report

    Several key factors are driving growth in the nuts market. Rising incomes allow more consumers to purchase nuts. Greater health awareness also boosts demand for nuts protein, nutrients and natural goodness. Another growth driver is the sale of nuts through more supermarkets, convenience stores, online retailers and other outlet, increasing availability.

    Looking ahead, the market is forecast to continue growing in coming years fueled by the positive trends of higher disposable incomes to spend on premium nuts, consumers desiring more nutritious snacks, and expansion of retail access points for a range of nut products. The future remains bright for producers, traders and sellers of various nuts.

    Key Takeaways

    • Projected Market Size: The global nuts market is expected to reach USD 110 billion by 2032, with a predicted CAGR of 5.7% during the forecast period. In 2023, it was estimated to be worth USD 163.2 billion.
    • Product Type Dominance: Peanuts led the market with over 28.2% market share due to their widespread availability and versatile use. Almonds followed closely, renowned for their health benefits and increasing popularity in wellness-focused diets.
    • Growing Varieties: Walnuts, hazelnuts, and other varieties like cashews, pecans, and macadamias contributed significantly to market expansion. Each offers unique flavors and health benefits, reflecting consumer interest in healthier snack options.
    • Distribution Channels: Offline sales dominated, accounting for more than 84.6% of the market, driven by traditional consumer preferences for physical store purchases. However, online sales are rapidly gaining momentum due to the convenience of e-commerce platforms.
    • Market Dynamics: Factors driving growth include rising incomes, greater health awareness, and the availability of nuts in supermarkets, convenience stores, and online outlets. However, challenges such as price fluctuations, allergy concerns, and maintaining quality act as restraints.
    • Regional Analysis: Europe held a dominant position in the market (32.4% share) due to its commitment to healthy eating and demand for organic/natural foods. North America and Asia-Pacific are also significant markets, driven by health-conscious consumption and rising incomes.
    • Key Players: Leading companies include Blue Diamond Growers, Wonderful Pistachios and Almonds, Kraft Heinz Co., Tierra Farm Inc., and others, focusing on logistics, mergers, acquisitions, and innovations to expand their market presence.

    Product Type Analysis

    In 2023, the nuts market saw varied growth across its different segments. Leading the pack were peanuts, which claimed a substantial market share of over 28.2%. This dominance can be attributed to peanuts’ widespread availability, affordability, and versatile use in both culinary and snack forms. Following closely were almonds, renowned for their health benefits and increasingly popular in diets focused on wellness and nutrition. Almonds have carved a significant niche in the market, thanks to their use in various food products and as a standalone snack.

    Walnuts also made a notable impact, appreciated for their unique taste and health benefits, particularly in brain health. Their growing popularity is mirrored in their increasing use in food preparations and as a healthy snack option. Hazelnuts have quickly gained in popularity over time due to their rich flavor. Hazelnuts can now be found everywhere from confectionery products and coffee beverages, to aromatherapy blends.

    Other nut varieties, including cashews, pecans and macadamias have contributed to an ever-expanding market. Each variety offers distinctive flavors and health benefits to meet consumer preferences and meet dietary requirements. This variety in the nuts market reflects the growing consumer interest in healthier, more natural snack options.

    Distribution Channel Analysis

    In 2023, the nuts market saw the Offline distribution channel holding a dominant position, capturing more than an 84.6% share. This dominance is largely due to the traditional consumer preference for purchasing nuts in physical stores like supermarkets, hypermarkets, and local grocery stores. The offline channel’s success stems from the tactile shopping experience it offers, allowing consumers to assess the quality and freshness of nuts firsthand. Additionally, the immediate availability of products, along with the opportunity to explore a wide variety of nuts from different brands and origins under one roof, enhances the appeal of offline shopping.

    On the other hand, the Online distribution channel, while smaller in comparison, is rapidly gaining momentum. The convenience of online shopping, combined with the expanding reach of e-commerce platforms, has started to draw a significant number of consumers towards online nut purchases. Online stores provide a broader assortment, including specialty and exotic nuts that might not be readily available in physical stores.

    The growing consumer inclination towards digital platforms for grocery shopping, fueled by the ease of home delivery and the ability to compare prices and products, is propelling the growth of this segment. Moreover, the online channel benefits from the increasing consumer awareness about the health benefits of nuts, supported by detailed product information and customer reviews available online.

    Global Nuts Market Share

    *Actual Numbers Might Vary In The Final Report

    Driving Factors

    • Health Awareness: Raising awareness about the health benefits of nuts is one key driver. Nuts play an integral part in heart and diabetes prevention.
    • Dietary Trends: As plant-based diets and veganism become more popular, demand for nuts as a source of protein and other vital nutrients has skyrocketed.
    • Snacking Habits: There’s a growing trend towards healthy snacking, where nuts are favored for their convenience and nutritional value.
    • Global Cuisine Influence: The integration of nuts in various global cuisines and as ingredients in food products is expanding their market presence.

    Restraining Factors

    • Price Fluctuation: Volatility in nut prices due to factors like climate change and agricultural conditions can hinder market growth.
    • Allergy Concerns: The prevalence of nut allergies in a significant portion of the population acts as a restraint in the market.
    • Caloric Content: For those monitoring their caloric intake, the high-calorie nature of nuts can be a deterrent.
    • Quality Control: Challenges in maintaining quality and avoiding contamination, like aflatoxin, can restrict market expansion.

    Growth Opportunities

    • Flavored and Processed Nuts: Innovations in flavored and processed nuts cater to diverse taste preferences and open new market segments.
    • Organic and Non-GMO Nuts: The rising demand for organic and non-GMO products presents significant growth opportunities in the nuts market.
    • Expansion in Emerging Markets: Developing regions offer new markets for nuts, especially with rising income levels and health consciousness.
    • E-commerce Platforms: The growing online retail market for food products provides an excellent opportunity for expanding the reach of nut products.

    Trends

    • Sustainable Farming Practices: There is a growing trend towards sustainable and environmentally friendly nut farming practices.
    • Nut-Based Product Innovation: Innovation in nut-based products, like nut butters and milk, is a key trend shaping the market.
    • Health-Centric Marketing: Marketing strategies focusing on the health benefits of nuts are increasingly influencing consumer choices.
    • Global Supply Chain Diversification: Efforts to diversify supply chains to ensure stable nut availability are a notable market trend.

    Key Маrkеt Ѕеgmеntѕ

    By Product Type

    • Almonds
    • Peanuts
    • Walnuts
    • Hazelnuts
    • Other Product Types

    By Distribution Channel

    • Offline
    • Online

    Regional Analysis

    In 2023, Europe held a dominant market position in the nuts market, capturing more than a 32.4% share. The dominance of this market is because of the region’s high commitment to healthy eating and the demand for organic and natural foods. The demand for Nuts in Europe was valued at US$ 20.5 billion in 2023 and is anticipated to grow significantly in the forecast period. European people are more and more adding nuts to their diets to provide an alternative source of protein made from plant sources and are driving market growth. Additionally, the presence of key market players who are innovating in product offerings, such as flavored and processed nuts, further strengthens Europe’s market position.

    North America also represents a significant share of the nuts market, with a strong trend towards health-conscious consumption. The U.S. and Canada have seen a surge in demand for nuts as snack foods and as ingredients in health-centric products like nut butters and nutrition bars. The market here is bolstered by robust distribution channels, including supermarkets and online retail, making nuts more accessible to consumers.

    The Asia-Pacific (APAC) area the market is expanding rapidly, fueled by growing awareness of the benefits of nuts for health and the rise in disposable incomes. Countries such as China as well as India are key players in this expansion, using traditional use of nuts in different dishes and a growing middle class that’s more conscious of their health and willing to experiment with various types of nuts.

    Latin America’s nuts market is growing steadily, driven by the region’s biodiversity and the availability of various native nuts. Brazil and Argentina are notable contributors, with their rich agriculture supporting both domestic consumption and exports. The increasing focus on healthy lifestyles in these countries is also propelling the market growth.

    The Middle East and Africa (MEA) region, though a smaller market compared to others, is witnessing growth in the nuts sector. This is due to the rising awareness of health and nutrition, coupled with increasing economic development in certain countries. The traditional use of nuts in Middle Eastern cuisines also supports the market growth in this region.

    Nuts Market Region

    *Actual Numbers Might Vary In The Final Report

    Key Regions and Countries Covered in this Report

    • North America
      • The US
      • Canada
    • Europe
      • Germany
      • France
      • The UK
      • Spain
      • Italy
      • Russia
      • Netherland
      • Rest of Europe
    • APAC
      • China
      • Japan
      • South Korea
      • India
      • Australia
      • New Zealand
      • Singapore
      • Thailand
      • Vietnam
      • Rest of APAC
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • South Africa
      • Saudi Arabia
      • UAE
      • Rest of MEA

    Key Players Analysis

    To grow their businesses, many manufacturers and suppliers expect to concentrate on logistics development and strengthening the distribution channel. These initiatives will increase the adoption rate of the product by consumers all over the world. The market is also driven by mergers, acquisitions and joint ventures. The following are some of the key players in the nuts market:

    Маrkеt Kеу Рlауеrѕ

    • Blue Diamond Growers
    • Wonderful Pistachios and Almonds
    • Kraft Heinz Co.
    • Tierra Farm Inc.
    • Waterford Nut Company
    • Farm Breeze International LLC
    • Hormel Foods Corporation
    • South Valley Farms
    • Royal Nut Company
    • Archer Daniels Midland Company
    • Ludlow Nut Co Ltd.
    • Borges Agricultural & Industrial Nuts
    • Sun Organic Farms
    • Others

    Recent Developments

    • IGA’s Exclusive Brands Launch New Snack Nuts Line: In July 2023, IGA’s Exclusive Brands expanded their product range by launching a new series of snack nuts. This line features a variety of nuts including cashews, peanuts, almonds, and a mixed nuts selection, catering to diverse consumer tastes and preferences.
    • Bevzilla’s Unique Coffee Flavor Debut on International Coffee Day: Celebrating International Coffee Day in October 2022, Bevzilla introduced an innovative coffee powder flavor named Turkish Hazelnut. This new offering adds an exciting twist for coffee lovers, blending the rich taste of coffee with the distinct flavor of hazelnuts.
    • Britannia Good Day’s Nut-Infused Cookies in India: In June 2022, Britannia Good Day, a leading cookie brand in India, unveiled its latest product – the Good Day Harmony pack. This new cookie assortment stands out by incorporating four different types of nuts in each cookie, including hazelnut, cashew, pistachio, and almond, offering a unique and rich taste experience.

    Report Scope

    Report Features Description
    Market Value (2023) US$ 63.2 Bn
    Forecast Revenue (2032) US$ 110.0 Bn
    CAGR (2023-2032) 5.7%
    Base Year for Estimation 2023
    Historic Period 2017-2022
    Forecast Period 2023-2033
    Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments
    Segments Covered By Product Type (Almonds, Peanuts, Walnuts, Hazelnuts, and Other Product Types), By Distribution (Online and Offline)
    Regional Analysis North America – The U.S. & Canada; Europe – Germany, France, The UK, Spain, Italy, Russia, Netherlands & Rest of Europe; APAC- China, Japan, South Korea, India, Australia, New Zealand, Singapore, Thailand, Vietnam & Rest of APAC; Latin America- Brazil, Mexico & Rest of Latin America; Middle East & Africa- South Africa, Saudi Arabia, UAE & Rest of MEA
    Competitive Landscape Blue Diamond Growers, Wonderful Pistachios and Almonds, Kraft Heinz Co., Tierra Farm Inc., Waterford Nut Company, Farm Breeze International LLC, Hormel Foods Corporation, South Valley Farms, Royal Nut Company, Archer Daniels Midland Company, Ludlow Nut Co Ltd., Borges Agricultural & Industrial Nuts, Sun Organic Farms, Others
    Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements.
    Purchase Options We have three licenses to opt for Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF)

    Frequently Asked Questions (FAQ)

    How big is the nuts market?

    The Global Nuts Market is anticipated to be USD 110 billion by 2032. It is estimated to record a steady CAGR of 5.7% in the Forecast period 2023 to 2033. It is likely to total USD 163.2 billion in 2023.

    How does the demand for organic nuts contribute to the market?

    The demand for organic nuts is on the rise, driven by consumer preferences for natural and chemical-free products. Organic nuts are cultivated without synthetic pesticides or fertilizers, appealing to health-conscious consumers.  

    Is there a trend toward specialty or flavored nuts in the market?

    Yes, there is a growing trend towards specialty and flavored nuts. Unique flavor profiles, such as honey-roasted, spicy, or chocolate-covered nuts, cater to diverse consumer tastes and preferences.  

    What is the global production and consumption scenario for nuts?

    The global production and consumption of nuts have been steadily increasing. Countries like the United States, China, and India are major contributors, and nuts are consumed both as snacks and as ingredients in various cuisines worldwide.  

    Who are the key players in the nuts market?

    Blue Diamond Growers, Wonderful Pistachios and Almonds, Kraft Heinz Co., Tierra Farm Inc., Waterford Nut Company, Farm Breeze International LLC, Hormel Foods Corporation, South Valley Farms, Royal Nut Company, Archer Daniels Midland Company, Ludlow Nut Co Ltd., Borges Agricultural & Industrial Nuts, Sun Organic Farms, Others

    Nuts Market
    Nuts Market
    Published date: Nov 2023
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    • Blue Diamond Growers
    • Wonderful Pistachios and Almonds
    • Kraft Heinz Co.
    • Tierra Farm Inc.
    • Waterford Nut Company
    • Farm Breeze International LLC
    • Hormel Foods Corporation
    • South Valley Farms
    • Royal Nut Company
    • Archer Daniels Midland Company
    • Ludlow Nut Co Ltd.
    • Borges Agricultural & Industrial Nuts
    • Sun Organic Farms
    • Others
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