Global Nut Ingredients Market - 2023-2030

Global Nut Ingredients Market - 2023-2030

Global Nut Ingredients Market reached US$ 21.2 billion in 2022 and is expected to reach US$ 32.0 billion by 2030 growing with a CAGR of 5.3% during the forecast period 2023-2030. The nut ingredients market trend is driven by the growing demand for healthier and natural food options. For instance, companies are implementing initiatives to support local farmers and reduce environmental impacts.

The market for nut ingredients is witnessing steady growth, fueled by increasing health consciousness and the popularity of natural, nutritious foods. Nuts, along with almonds, walnuts, and peanuts, are enormously in demand for their nutrients, minerals, and healthy fats. As people’s demand for plant-based and gluten-free alternatives rises, nut-based products have won prominence in numerous food applications.

The nut ingredients market is driven by the expanding snack and convenience food industry, with nut-based products gaining popularity. For instance, nut-based snack bars have become a favourite choice amongst health-conscious people looking for convenient, on-the-go options. These snack bars frequently contain a variety of nuts, offering a blend of flavors and dietary advantages.

Market Dynamics

Growing Awareness of Nutritional Benefits Boosts Nut Ingredients Market

Increasing awareness of the nutritional benefits offered by nuts is a key driver in the nut ingredients market. Nuts are full of nutrients, minerals, antioxidants, and wholesome fats, making them a valuable addition to a balanced diet. As customers prioritize fitness and wellbeing, they're incorporating extra nut-based merchandise, which includes nut pastes, nut oils, and nut food, into their day-by-day meals.

The popularity of nuts' effective impact on heart fitness, weight control, and overall well-being is fueling their reputation. Consequently, the market share of nut ingredients is expanding as they gain recognition as a wholesome and natural source of nutrition, further contributing to the growth of the market size.

The Rising Popularity of Plant-Based Diets Propels the Nut Ingredients Market

The developing adoption of plant-based diets is a prime driver for the nut ingredients market. As purchasers search for healthier and sustainable meal choices, nuts are gaining prominence because of their rich nutritional profile. Nuts play an essential role in plant-based diets as they provide crucial proteins, healthy fats, and different beneficial vitamins.

With more people moving far away from animal-derived products, the demand for nut-based alternatives, including nut milk, nut butter, and nut flour, is at the upward push. This trend is riding the growth of the nut ingredients market size, as they become an essential component in plant-based cooking and baking, subsequently contributing to the overall nut ingredients market size.

Environmental Concerns Limit Nut Ingredients Market Growth, Influencing Market Share and Size

One significant restraint for the nut ingredients market is the growing environmental concerns related to the production and sourcing of nuts. Deforestation and land-use changes for nut cultivation can lead to biodiversity loss and habitat destruction. Additionally, water usage in nut-producing regions can raise sustainability concerns. people are increasingly conscious of these environmental issues, leading to a shift in their preferences toward more sustainable and eco-friendly options.

This shift may impact the market share of certain nut-based products, especially if their sourcing practices are not environmentally responsible. As a result, the nut ingredients market size growth may face challenges as manufacturers and suppliers adapt to more sustainable practices and seek eco-friendly certifications to meet the evolving demands of environmentally conscious consumers.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario, and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it to pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global nut ingredients market has been segmented by type, form, application, and region.

Peanut Segment Dominates Nut Ingredients Market with Approximately 40% Market Share

The global nut ingredients market has been segmented by type into peanut, almond, walnut, cashew, hazelnut, and others.

The peanut segment holds a substantial share of around 40% in the nut ingredients market. Peanuts are widely used in various nut-based products, including nut flours and nut butters, contributing to their popularity. As a versatile ingredient, peanuts find applications in snacks, spreads, and bakery items, making them a favorite among consumers.

The segment's market share is boosted by the rising demand for peanut-based products due to their rich flavor, nutritional content, and affordability. Peanut flours serve as a gluten-free alternative in baking, catering to the increasing preference for allergen-free options. With its strong presence in the market and continuous innovation in nut-based offerings, the peanut segment remains a driving force in the nut ingredients market.

Geographical Analysis

North America Emerges as the Fastest-Growing Region in Nut Ingredients Market

By region, the nut ingredients market is segmented into North America, South America, Europe, Asia-Pacific, Middle-east, and Africa.

North America's nut ingredients market is witnessing robust growth with a surge in consumer demand for healthier food choices. Nut-based products such as nut pastes, oils, extracts, powders, meals, and fillings are gaining popularity, propelling the market's expansion. The region's significant market size and growing market share can be attributed to the increasing adoption of nut ingredients in various food applications, from spreads and snacks to bakery and confectionery items.

As health consciousness continues to shape consumer preferences, North America is leading the way in driving innovation and meeting the demand for nutritious and natural nut-based products. North America remains a key player in the global nut ingredients market with a 35% market share, fostering opportunities for manufacturers and suppliers to expand their offerings and cater to the evolving preferences of health-conscious consumers.

Competitive Landscape

The major global players in the market include ADM, Olam International Limited, Barry Callebaut, Sran Family Orchards, Inc., John B. Sanfilippo & Son, Kanegrade, Borges Agriculture & Industrial Nuts, Dohler GmbH, Nestlé, and Harris Woolf California Almonds.

Why Purchase the Report?
• To visualize the global nut ingredients market segmentation based on type, form, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of nut ingredients market-level with all segments.
• The PDF report consists of a cogently put-together market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The global nut ingredients market report would provide approximately 61 tables, 63 figures, and 190 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies