Nuts Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Nuts Market Is Segmented By Type (Walnuts, Cashew, Hazelnuts, Pistachios, Chestnuts, Brazil Nuts, Almond, Pecans, Macadamia Nuts, Pine Nuts, Peanuts, Hickory Nuts, Others), By Production Method (Conventional, Organic), By Form (Whole Nut, Diced/Cut, Granular), By Coating (Uncoated, Coated), By Distribution Channel (Retail Stores, Supermarket/Hypermarket, Convenience Store, E-Commerce, Others), By Application (Household, Food and Beverage, Cosmetics, Healthcare, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Nuts Market Size

Global Nuts Market reached USD 52.3 billion in 2022 and is expected to reach USD 72.6 billion by 2031 growing with a CAGR of 4.2% during the forecast period 2024-2031. The increasing awareness among consumers regarding the health benefits of nuts and nut-based products is driving the global nuts market growth.

There is an increased awareness of the healthy benefits of nuts among consumers. For instance, the NUTS 2022 Conference provided all the beneficial effects associated with the various tree nuts consumption. Thus, people are willing to add nuts to their diet for a healthy lifestyle. The healthy-snacking is a trend in the market for health-conscious consumers.

The rising population growth, along with growing urbanization across the globe, and increasing disposable income of the consumers, has led to increased consumption of nuts, which has expected the market’s growth. The various applications of nuts in food and beverage, cosmetics, and healthcare sectors boost the market growth.

Nuts Market Scope

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Nuts Market Dynamics 

Various Health Benefits of Nuts Drive the Nuts Market Growth.

The increasing health concerns and growing health consciousness among people also increase the demand for nuts because of their several health benefits. With the increased popularity of the paleo diet, the demand for a nature-friendly diet such as nuts is also increasing. The nuts are great sources of fiber, protein, vitamins, and other essential minerals. The growing popularity and demand for nuts are due to the presence of a high concentration of antioxidants, and healthy fats.

The growing vegan population worldwide and the need for a good alternative to fish and eggs for fulfilling protein, calcium, and vitamin B12 needs are boosting the market expansion. Health-conscious people are reaching out for more nuts driving the market expansion. For instance, almonds gained an excellent reputation for being a health nut, with their diabetic-friendly attributes, such as their comparatively low-fat content and healthy omega-3 fats. 

Increasing Demand for Healthy Snacks Drives the Nuts Market Growth

The trend of healthy snacking is increasing with consumers' increasing demand for convenience and on-to-go foods. Healthy snacking, convenience, and taste raise consumers' demand for nut and nutmeal ranges. WHO recommends including nuts as part of a healthy adult diet help maintain good health. Nuts for snacking, like roasted, coated, and salted are used widely. The flavoured nuts and nutmeals are the best meal alternatives because of their health benefits. 

There is an increase in the number of consumers that are opting for vegan and plant-based food. For instance, in November 2021, Blue Diamond Almonds launched almond breez extra creamy almond milk as a plant-based alternative to whole dairy milk. The product uses almond oil made from quality California-grown blue diamond almonds to give the product an extra creamy texture.

Unavailability Of Raw Materials Restrain the Market Growth.

The major restraint for the global nuts market is the insufficient availability of the raw materials. Acquiring rare and exotic nuts is very difficult because of their variable yields. This causes price volatility in plant extracts. Thus, the continued fluctuations in the prices and raw material unavailability hinder the global nuts market. 

Most nuts are used as ingredients in food and other product development applications. An inventory management system is essential for manufacturers that convert nuts from raw materials to ingredients. Consequently, the process of transforming nuts into value-added products such as butter, pastes, and fillings becomes expensive, and these high costs are ultimately passed on to end consumers by processed food & beverage manufacturers.

Nuts Market Segment Analysis

The global nuts market is segmented based on type, production method, form, coating, distribution channel, application, and region.

In the Nuts Market, the Food and Beverage Segment Holds the Largest Market Share. 

The global nuts market has been segmented by application into household, food and beverage, cosmetics, health care, and others. The food beverage segment held the largest nuts market share of 28.8% in 2022 in the nuts market analysis report. The food and beverage segment is sub-segmented into bakery & confectionery, breakfast cereals, flavored drinks, snacks, dairy products, butter & spread, and others.

The increasing use of edible nuts in various product manufacturing is driving the segment’s demand. Various nut varieties, such as cashew, almonds, peanuts, walnuts, and others, are in various bakery and confectionery products. Many manufacturers are launching energy bars such as Cadbury Fuse, Mars Snickers, and others increasing the segment growth.

Global Nuts Market Geographical Share

The North America Held the Largest Share of the Global Nuts Market.

The global nuts market is segmented into five parts based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The North American nuts market held the largest market share of 38.6% in 2022 in the nuts market analysis. Increasing disposable income and rising purchasing power in this region boosts the market growth. 

The growing popularity of healthier snacking and eating habits among American consumers continues to encourage nut production and consumption. For instance, according to USDA data from 2022, United States is the highest producer of almonds and pistachios and 2nd largest producer of walnuts. Furthermore, the increasing expenditure on health and wellness and the growing demand and consumption of nutmeals ir driving the region’s market growth. 

Nuts Market Companies

The major global players in the market include Bobs’s Red Mill Natural Foods, Royal Nut Company, Kanegrade Limited, Archer Daniels Midland Company, Nestle, Mariani Nut Company, GNC Nut Company AG, Farm Breeze International LLC, Diamond Foods Inc, and Helios Ingredients.

COVID-19 Impact Analysis

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:

The unprecedented COVID-19 pandemic in 2020 profoundly affected the food support and service industry. Covid-19 has considerably impacted the global food support and services supply chain phases involving nuts production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments. 

Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.

The COVID-19 pandemic issue has had an impact on the food support and services industries as well. The COVID-19 pandemic is upending life, and the food support and services sector is seeing increased trends like nuts. The food businesses are launching innovative programs, including nuts, that are straightforward to utilize.

Key Developments

• In January 2023, Nature’s Garden, a snack food brands, launched its new artisanal nuts innovation. 
• In August 2022, Whitworths, a UK fruit, nut, and seed snack brand, announced the introduction of new mixed nuts and tropical dried fruit snacking ranges. 
• In June 2022, Kluth, a GmbH & Co. KG brand, launched gently roasted unskinned cashews refined with a natural vanilla taste.

Why Purchase the Report?

• To visualize the global nuts market segmentation based on type, production method, form, coating, distribution channel, application, and region and 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 nuts market-level with all segments.
• The PDF report includes a comprehensive 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 Nuts Market report would provide approximately 85 tables, 90 figures and 165 Pages.

Target Audience 2024

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