The latest report by IMARC Group, titled “Nut Products Market Report by Product Type (Nut Butter, Nut Paste/Marzipan Paste/Persipan Paste, Nut Fillings with Cocoa, Nut Fillings without Cocoa, Caramelized Nuts, Nut Flour), Category (Organic, Conventional), Type (Almonds, Hazelnuts, Walnuts, Cashews), Application (B2B, B2C), and Region 2024-2032“, The global nut products market size reached US$ 6.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 10.4 Billion by 2032, exhibiting a growth rate (CAGR) of 5% during 2024-2032.
Factors Affecting the Growth of the Nut Products Industry:
- Sustainability and Ethical Consumption:
The increasing consumer inclination toward sustainability and ethical consumption significantly influences the nut products market. Nuts are perceived as a more sustainable protein source compared to animal proteins, with a lower environmental footprint in terms of water usage, land use, and carbon emissions. The ethical aspects concerning animal welfare and the environmental impact of meat production are prompting consumers to opt for plant-based alternatives like nuts. Moreover, the industry is witnessing a surge in demand for organic, non-GMO, and ethically sourced nuts, driven by consumers who are willing to pay a premium for products that align with their environmental and ethical values.
- Health and Nutritional Benefits:
The nut products market is significantly driven by the growing consumer awareness regarding the health and nutritional benefits of nuts. Rich in essential nutrients such as proteins, vitamins, minerals, and fibers, nuts are increasingly recommended by health professionals for their role in enhancing heart health, reducing cholesterol levels, and aiding in weight management. The rising trend of clean eating and the shift towards plant-based diets have further propelled the demand for nut products. Consumers are now more inclined towards incorporating nuts into their daily diet, recognizing their benefits in improving overall health, enhancing brain function, and providing sustained energy, which is particularly appealing to health-conscious individuals and those following specific dietary regimes like veganism or vegetarianism.
- Increasing Food Applications:
Nuts are incredibly versatile and find extensive applications across various segments of the food industry, which is a major factor driving their market. They are used in a multitude of products such as snacks, confectioneries, bakery products, dairy alternatives, and culinary dishes. The adaptability of nuts to blend with diverse flavors and ingredients enhances their appeal to food manufacturers and chefs alike. Additionally, the innovation in food technology has led to the development of a wide range of nut-based products like nut butters, milks, flours, and oils, catering to the growing consumer demand for natural, minimally processed, and flavorful food options.
Competitive Landscape with Key Player:
- ALMENDRAS LLOPIS S.A.U
- Barry Callebaut
- Blue Diamond Growers
- Kanegrade Limited
- Lübecker Marzipan-Fabrik
- Mandelin Inc.
- Moll Marzipan GmBH
- Olam International
- Puratos NV/SA
- Royal Nut Company
- V. Besana S.p.A.
- Zentis GmbH & Co. KG
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/nut-products-market/requestsample
Report Segmentation:
The report has segmented the market into the following categories:
Product Type Insights:
- Nut Butter
- Nut Paste/Marzipan Paste/Persipan Paste
- Nut Fillings with Cocoa
- Nut Fillings without Cocoa
- Caramelized Nuts
- Nut Flour
Based on the product type, the market is divided into includes nut butter, nut paste/marzipan paste/persipan paste, nut fillings with cocoa, nut fillings without cocoa, caramelized nuts, and nut flour.
Category Insights:
- Organic
- Conventional
Based on the category, the market has been classified into organic and conventional.
Type Insights:
- Almonds
- Hazelnuts
- Walnuts
- Cashews
Hazelnuts account for the largest market share due to their versatility and widespread consumer appeal.
Application Insights:
- B2B
- B2C
A detailed breakup and analysis of the nut products market based on the application has also been provided in the report. This includes B2B and B2C.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America’s dominance in the nut products market is attributed to the growing health consciousness among the masses and rising consumption of nut milks and butters.
Global Nut Products Market Trends:
Presently, with increasing health consciousness among consumers, there's a growing demand for nutritious and convenient snack options. Nut products, such as almonds, walnuts, cashews, and pistachios, are perceived as healthy snacks due to their high protein, fiber, and healthy fat content. This trend is driving the growth of the nut products market globally. Besides, the rise of plant-based diets is fueling demand for nut-based products as alternatives to animal-derived foods. Nuts are rich sources of protein and essential nutrients, making them popular among consumers seeking plant-based protein sources. Nut milks, nut butters, and other nut-based products are experiencing increased demand as vegan and vegetarian diets gain traction.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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