Nut Products Market to Reach USD 2.74 BN By 2028
In the global food industry, there have been substantial growth tendencies. Many significant companies in the nut ingredients industry have made various breakthroughs and developments in the forms and completed goods. The global market has been pushed by an increasing focus on preventative health care and the introduction of healthier products. Cold chain logistics and technology improvements have also made it easier to transfer nut ingredients globally. Various groups and organisations also support market growth through export, research, education, and consumer awareness efforts.
The market for nut ingredients is expected to reach $22,642.1 million by 2019, growing at a 5.8% CAGR from 2014 to 2019. The market is expected to reach 1,946.8 MT in 2014, growing at a CAGR of 5.7 percent.
Nuts components are extremely versatile in product composition, making them a popular choice among food manufacturers and customers alike, as they give both flavour and health advantages. Every year, almonds outnumber all other nuts, including cashews and walnuts, in terms of new product debuts. Snacks and bars, bread items, confectioneries, drinks, cereals, desserts, and dairy products are among the food categories that contain nut components.
The European and North American markets for nut ingredients are the largest and most developed. Emerging markets like China and India have seen the most rapid expansion. The market is segmented by type, application, and geography in this report. The report is divided into four sections: North America, Asia-Pacific, Europe, and the Rest of the World (RoW). Almonds, hazelnuts, walnuts, cashews, and other nut ingredients were studied (artificial nuts, beechnuts, chestnuts, and chinquapin nuts). Confectioneries, dairy goods, bread products, snacks & bars, desserts, cereals, beverages, and other applications can use these nut ingredients (salads & sauces).
In terms of value, the European region is the most important market for nut ingredients, followed by North America and Asia-Pacific. The desire for premium foods marketed as healthy, which are becoming popular among all generations, is one of the factors driving growth in Asia-Pacific. Furthermore, in these countries, the explosive rise of the middle-class population, fast urbanisation, increasing spending power, and an increase in the number of working women have boosted demand for nut-based food and beverage items.
The research includes a thorough review of the market’s major nut Ingredients producers. It lists the development tactics that top market companies like to use to grow their market share. The research profiles key competitors including Archer Daniels Midland Company (US), Olam International Limited (Singapore), Barry Callebaut Group (Switzerland), Kerry Group (Ireland), and Kanegrade (UK). The research goes through the market dynamics in terms of market drivers, constraints, opportunities, and challenges in great detail.
The Report’s Scope
This study examines the nut ingredients market, which is split by type, application, and region, forecasting market size and trends in each of the sub-markets below.
The market has been split into the following types.
Almonds
Hazelnuts
Walnuts
Cashews
Others are (artificial nuts, beechnuts, chestnuts, and chinquapin nuts)
The market has been split into the following categories based on application.
Confectioneries
Products derived from milk
Products from bakeries
Snacks & Snack Bars
Desserts
Cereals
Beverages
Others are (Salads & Sauces)
The market has been split into the following regions based on region.
North America is located in North America.
Europe
Asia-Pacific
Latin America is a continent in South America.
RoW
The market for nut Ingredients is expected to reach $22,642.1 million by 2019, growing at a 5.8% CAGR from 2014 to 2019.
In the next five years, the market is expected to increase at a significant rate. The category of nut ingredients is growing, and it’s becoming more useful as a culinary element. The market is expected to rise due to rising consumption of health-based packaged foods and food producers’ advances in processed food items. Emerging markets, such as China and India, are expected to provide new prospects in this market due to rising demand for health-based packaged foods. Nuts as ingredients are a win-win situation since their proven health advantages appeal to consumers, and their variety allows formulators to be creative.
This market is segmented by type into almonds, hazelnuts, walnuts, cashews, and others (artificial nuts, beechnuts, chestnuts, and chinquapin nuts), and is used in confectioneries, dairy products, bakery products, snacks & bars, desserts, cereals, beverages, and other applications, according to the report (salads & sauces).
Others to consider are: (salads & sauces)
In 2013, the snack & bar application led the market for nut components. In 2013, the snacks & bars application was the most popular for nut components, and it grew at the fastest rate. Snacks and bars are leading the food sector due to health and wellness trends. Consumers all across the world are looking for healthier, more nutritious options that are devoid of pesticides, chemicals, and genetically modified organisms (GMOs). Nuts in snacks are suitable for the snacks and bars category since they are perceived as natural and healthful by customers. Organic and natural snacks are becoming more popular in shops around the world.
The research also includes qualitative analysis of the major industry competitors and their preferred growth strategies. Archer Daniels Midland Company (US), Olam International Limited (Singapore), Barry Callebaut Group (Switzerland), Kerry Group (Ireland), and Kanegrade are the leading nut ingredient manufacturers in the market, according to this analysis (U.K.)