Global Tree Nut Market - 2022-2029

Global Tree Nut Market - 2022-2029

Market Overview

The global tree nut market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Tree nuts are edible dried fruits or seeds of non-leafy woody plants. Tree nuts are strong in unsaturated fatty acids and high-quality vegetable proteins, fibre, and unique minerals and nutrients including magnesium and vitamin E. Market companies are also introducing innovative and unique snacks to address the increased demand from the millennial population base. Tree nuts have a lot of health benefits, thus they're in high demand. The tree nut sector is driven by millennials' rising popularity of vegan meals. The tree nut market is predicted to expand due to the health benefits.

Market Dynamics:

Increasing awareness of the health benefits of tree nuts

In recent years, there has been a significant increase in the frequency of cardiovascular diseases worldwide, resulting in a demand for related diagnostic and treatment solutions. According to a study by the Centers for Disease Control and Prevention, roughly 18.2 million persons between the ages of 20 and 70, or nearly 6.7 percent of the total population in the United States, will have coronary artery disease in 2019. Nuts, seeds and pulses are nutrient-dense foods and have been a regular constituent of mankind’s diet since pre-agricultural times. However, in Western countries, nut consumption has increased in recent times following the inclusion of this food group in many guidelines for healthy eating and wide media coverage of recent evidence connecting nut consumption to a wide range of health benefits. Thus, nuts have been proposed as an important component of optimal diets for the prevention of CHD by leading experts in the field and, in the summer of 2003, the US Food and Drug Administration issued a health claim for nuts because of the link between nut consumption and a reduced risk of both CHD and intermediate biomarkers, such as blood cholesterol. Since then, nuts have become an indispensable component of healthy diets and are included in the American Heart Association dietary metrics for defining ideal cardiovascular health in their recent report on setting health promotion and disease reduction goals for 2020.

Market Segmentation:

Almond for the highest share in global tree nut market

In 2021, the almonds sector dominated the market, accounting for over XX percent worldwide revenue. Almonds' delicate flavor and tasty crunch go well with various dishes and variations. Almonds are naturally gluten-free, dairy-free, paleo, keto, and vegan, making them a convenient snack or beverage additive. It claims to contain aromatic hops and boab nut pulp and is high in vitamin C.

In 2021, the online segment dominated the market, accounting for over XX percent of global sales. E-commerce sites are among the tree nut's online distribution channels. The segment's growth is likely fueled by consumer preference for e-commerce. The lockdown across the nations further propelled the demand for online sales of tree nuts. People are adapting to buying groceries via e-commerce channels and online retailers due to the epidemic, and e-commerce channels are gaining consumer traction. Due to the closure of the outlets above, the COVID-19 epidemic significantly impacted the offline segment's growth. Furthermore, due to the rigorous lockdown imposed by governments worldwide, international tourism came to a halt.

Geographical Penetration:

Europe is the dominating region during the forecast period

In 2021, Europe dominated the market, with a share of approximately XX percent. Organic products are replacing conventional items among European consumers. The popularity of healthy and nutritious snacking and eating habits among European consumers is continuing to increase demand for tree and ground nuts. Germany is the world's greatest tree nut user. Between 2001 and 2020, Americans consumed an average of two pounds of almonds per capita, an increase of more than 50% in just ten years. Organic products are well-known among consumers, and as a result, consumption of healthy products is higher in the United States than in other parts of the world.

Competitive Landscape:

The global market is defined by a large number of participants. New product releases, innovation, global expansion, and mergers and acquisitions are some of the primary strategies used by the players to improve their market position and achieve a larger market share. To achieve market share in the world, companies are increasingly focusing on innovation using nuts. Mariani Nut Co., for example, introduced new almond varieties in February 2020, including Chipotle with Adobo, Cinnamon Twist, Hickory Smoked, and Honey Roasted.

COVID-19 Impact:

Negative impact on the global tree nut market

The global tree nut supply chain and distribution route were interrupted by the coronavirus outbreak. Furthermore, it resulted in the closure of restaurants, bakeries, confectionery, and dairy sectors around the world, as well as limitations. The nut market, on the other hand, gained greatly from the lockdown and travel restrictions in many areas. The COVID-19 epidemic prompted a significant shift in consumer purchasing priorities. Plant-based proteins are more popular than ever, and demand for healthful, convenient, and sustainably produced foods is on the rise.

The global tree nut market report would provide an access to approximately 61 market data tables, 52 figures and 170 pages