Nut Products Market by Product Type (Nut Butter, Nut Paste/Marzipan Paste/Persipan Paste, Nut Fillings with Cocoa, Nut Fillings without Cocoa, Caramelized Nuts, and Nut Flour), Nut Type, Application, Quality, Category and Region - Global Forecast to 2027

Nut Products Market by Product Type (Nut Butter, Nut Paste/Marzipan Paste/Persipan Paste, Nut Fillings with Cocoa, Nut Fillings without Cocoa, Caramelized Nuts, and Nut Flour), Nut Type, Application, Quality, Category and Region - Global Forecast to 2027

According to MarketsandMarkets, the global nut products market size is estimated to be valued at USD 6.7 Billion in 2022. It is projected to reach USD 8.9 Billion by 2027, recording a CAGR of 5.9% in terms of value. Changing lifestyles, increasing demand for fortified food products, growing health awareness, increasing instances of lactose and gluten allergies, and rising application sectors are some factors driving the growth of nut products. In this study, the nut products market has been categorized based on product type, application, nut type, quality, category, and region. Product types include nut butter, nut pastes, nut fillings with cocoa, nut fillings without cocoa, and nut flour. The nut type segment is classified into almonds, hazelnuts, cashews, walnuts, peanuts, pistachios, macadamias, pecans, pine nuts, and Brazil nuts.

“By product type, the nut butter segment is projected to account for the second largest market share during the forecast period.”

Based on product type, the nut butter segment is projected to be the second largest market during the forecast period. Nut butter is generally consumed as a natural spread on bread; apart from this, it is also used as a topping, thickener, and binding ingredient. It is sweet, creamy, nutty, and gritty and a preferred choice by vegan consumers in various foods, such as veggie burgers, cookies, and smoothies. Nut butter is rich in nutrients, such as proteins, copper, omega-6 essential fatty acids, fibers, monounsaturated fats, manganese, magnesium, phosphorus, molybdenum, and vitamins.

“By nut type, the walnut segment is forecasted to be the second largest market.”

Food manufacturers use walnuts as an ingredient for high-quality products, such as baked goods or confectionaries, snacks, or dairy products. It is gaining traction owing to its application in cereal bars, yogurts, meals, butter, and cheese. China is the world’s biggest producer and consumer of walnuts, followed by the US. They account for nearly 75% of the total production. Although China is the largest producer of walnuts, there is an increasing demand in China. Therefore, China imports a large share of walnuts to meet consumer demand.

“By application, the industrial food manufacturers segment is forecasted to account for the largest market share in the nut products market.”

Nuts used in savory products are still in the nascent stage. Because of the oil and fiber content, they add satiety value to foods, help balance the moisture content while lending their flavor, and help carry other savory flavors. Most food processors that use nuts in savory applications opt for roasted hazelnuts in their products as they impart a crunchier and nuttier flavor. For instance, roasted meals can be used in bread and snacks, while hazelnut butter can be used in sauces, adding flavor, richness, and increased protein content.

“By quality, the standard quality segment is forecasted to account largest market share during the review period.”

Commercial quality standards developed by every country for nuts/nut products help facilitate international trade, encourage high-quality production, improve profitability, and protect consumer interests. For instance, minimum standards set for nut products, such as peanut butter, are free from foreign smell, free of rancidity, free from mold, and free from insects. The authenticity label for tree nuts is also a mandatory indication, particularly for problems linked to allergies. For instance, hazelnut paste (Nutella) is an ingredient for confectionery and direct consumption. The number of hazelnuts present in the paste can cause a critical quality issue or replacement with artificial compounds or other ingredients, which may hamper the quality of the nut product.

“By category, the conventional segment is forecasted to account for the largest market share.”

Various nuts are grown through conventional farming due to increased productivity, lack of knowledge required to shift to organic farming, and red tape involved in acquiring organic farming certifications, mainly in developing regions of Asia Pacific, South America, and Africa.

“Europe is projected to account for the largest market share in the nut products market during the forecast period.”

In Europe, hazelnuts, walnuts, and almonds are some popular nuts used in confectionery and bakery applications. Nut products such as hazelnut and almond butter are used as fillings. As nuts are available in different forms - flour, paste, butter, and oil, innovations are constant among product developers. According to the Almond Board of California (ABC), almonds are popular mainly due to their versatility and ability to tap into trends, including clean label and plant-based foods.

Break-up of Primaries

By Company Type: Tier 1 – 30%, Tier 2 – 25% and Tier 3 – 45%

By Designation: Manager- 25%, CXOs– 40%, and Executives – 35%

By Region: Asia Pacific – 40%, Europe - 30%, North America- 16%, and RoW- 14%

Leading players profiled in this report include the following:

Olam International (Singapore)

Barry Callebaut (Switzerland)

Blue Diamond Growers (US)

Kerry Group (Ireland)

Zentis GmbH & Co. KG. (Germany)

Mount Franklin Foods (US)

Mandelin, Inc (US)

Besana (Italy)

Bazzini (US)

Lubeca (Denmark)

Puratos (Belgium)

Georg Lemke Gmbh & Co. Kg (Germany)

Almendras Llopis S.A.U. (Spain)

Stelliferi & Itavex S.P.A. (Italy)

Kanegrade (UK)

Kondima (Germany)

Royal Nut Company (US)

Moll Marzipan GMBH (Germany)

CSM (US)

Treehouse Almonds (US)

Research Coverage

This report segments the nut products market on the basis of product types, nut types, application, quality, category, and region. In terms of insights, this research report focuses on various levels of analyses—competitive landscape, pricing insights, end-use analysis, and company profiles—which together comprise and discuss the basic views on the emerging & high-growth segments of the nut products market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.

Reasons to buy this report

To get a comprehensive overview of the nut products market

To gain wide-ranging information about the top players in this industry, their product portfolio details, and the key strategies adopted by them

To gain insights into the major countries/regions in which the nut products market is flourishing