Global Nut Products Market is expected to grow significantly by 2027
Global Nut Products Market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 6% during the forecast period (2021-2027). The nut is a type of fruit that consists of a hard or tough nutshell protecting a kernel that is usually edible. The product derived from various nuts is known as nut products that include nut butter, nut paste, nut flour, and others.
The nut products market is boosting as the demand for natural and low-sugar ingredients food products has witnessed an uptick among the consumers, resulting in a surge in nuts & nut product consumption. For instance, in Germany, the number of people that consume nuts frequently has been increased, such as around once a week from 3.87 million people in 2013 to 5.65 million people in 2021. Furthermore, the increasing usage of various types of nuts in the food industry such as cashew kernel are widely used by industrial users, in cookies and cereals, and is also promoted as a topping on ice cream. Thereby, driving the nut products market globally.
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Furthermore, a surge in the end user's disposable income is one of the leading factors that is contributing to the growing market of nut products, globally. Rising purchasing power in developing countries such as Australia, EU, Mexico, Brazil, India, Thailand, and China is projected to allow consumers to spend more on their diet and food. For instance, As per OCED, the household spending in Canada, China, Denmark, European Union, France and Germany reached to 1,021,459.5, 9,241,095.5, 139,229.8, 10,785,281.3, 1,561,879.9 and 2,288,541.1 US$ million, respectively.
Based on product type, the market is segmented into nut butters, nut pastes/marzipan pastes, nut fillings with cocoa, nut fillings without cocoa, caramelized nuts, and nut flours. The nut pastes segment grabbed an XX% share of the global nut products market and will witness a considerable CAGR of XX% during the forecast period (2021-2027F). The growth of this segment is attributed to the growing use of nut paste as a spreader on bread, biscuits, and cakes. Also, the growing awareness about the nutritive properties of nuts is also driving the consumption of nut paste among consumers.
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Based on the nut type, the global nut products market is segmented into almonds, hazelnuts, walnuts, cashew, peanuts, pine nuts, Brazil nuts, pistachios, and others. The almonds segment occupied a substantial share and is expected to grow at a CAGR of XX% during the forecast period 2021-2027 owing to the the increasing almond production and consumption in various parts of the world.
Additionally, the report provides detailed report also provides insights into the global nut products market according to the regions such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. Europe dominated the market and generated revenue of USD XX billion in 2020 owing to the well-established market players and frequent product launches.
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Kerry Group, Olam International, Barry Callebaut, Blue Diamond Growers, Treehouse Almonds, Royal Nut Company, Zentis GmbH & Co. KG, Mount Franklin Foods, Lubeca, Besana are some of the key players operating in the global nut products market. Several M&As along with partnerships have been undertaken by these players to develop various nut products.
Global Nut Products Market Segmentation
Market Insight, by Product Type
· Nut Butters
· Nut Pastes/ Marzipan Pastes
· Nut Fillings With Cocoa
· Nut Fillings Without Cocoa
· Caramelized Nuts
· Nut Flours
Market Insight, by Nut Type
· Almonds
· Hazelnuts
· Walnuts
· Cashew
· Peanuts
· Pine Nuts
· Brazil Nuts
· Pistachios
· Others
Market Insight, by Application
· Industrial Food Manufacturers
· Food Service & Bakeries
Market Insight, by Region
· North America
Ø United States
Ø Canada
Ø Rest of North America
· Europe
Ø France
Ø Germany
Ø Italy
Ø Spain
Ø United Kingdom
Ø Rest of Europe
· Asia-Pacific
Ø China
Ø India
Ø Australia
Ø Japan
Ø Rest of Asia-Pacific
· Rest of World
Top Company Profiles
· Kerry Group
· Olam International
· Barry Callebaut
· Blue Diamond Growers
· Treehouse Almonds
· Royal Nut Company
· Zentis GmbH & Co. KG
· Mount Franklin Foods
· Lubeca
· Besana
