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 growing preference for sustainability and ethical consumption has a significant impact on the nut products market. Nuts are seen as a more sustainable protein source compared to animal proteins, with a reduced environmental footprint in terms of water usage, land use, and carbon emissions. Consumer concern for animal welfare and the environmental impact of meat production is driving the shift towards plant-based alternatives like nuts. Additionally, the industry is experiencing a rise in demand for organic, non-GMO, and ethically sourced nuts, fueled 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 experiences substantial growth due to increasing consumer awareness regarding the health and nutritional advantages of nuts. With abundant essential nutrients such as proteins, vitamins, minerals, and fibers, nuts are increasingly recommended by health professionals for their role in promoting heart health, lowering cholesterol levels, and supporting weight management. The growing popularity of clean eating and the transition to plant-based diets have further fueled the demand for nut products. Consumers are increasingly inclined to include nuts in their daily diet, acknowledging their benefits in improving overall health, optimizing brain function, and providing long-lasting energy. This particularly resonates with health-conscious individuals and those adhering to specific dietary regimens such as veganism or vegetarianism.
- Increasing Food Applications:
Nuts exhibit remarkable versatility and play a vital role in various sectors of the food industry, contributing significantly to their market growth. Their usage spans across a wide array of products including snacks, confectioneries, bakery items, dairy substitutes, and culinary creations. The ability of nuts to harmonize with an assortment of flavors and components heightens their attractiveness to both food producers and chefs. Furthermore, advancements in food science have paved the way for a diverse array of nut-derived products such as nut spreads, plant-based milks, flours, and oils, meeting the increasing consumer preference for natural, minimally processed, and richly flavored food choices.
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:
The increasing focus on health consciousness among consumers has led to a rising demand for nutritious and convenient snack options. Nut products, such as almonds, walnuts, cashews, and pistachios, are being embraced for their perception as healthy snacks owing to their high protein, fiber, and healthy fat content. This trend is propelling the growth of the global nut products market. Furthermore, the surge in plant-based diets is contributing to the demand for nut-based products as substitutes for animal-derived foods. Nuts, being rich sources of protein and essential nutrients, are gaining popularity among consumers in search of plant-based protein sources. As a result, nut milks, nut butters, and other nut-based products are witnessing heightened demand as vegan and vegetarian diets gain prominence.
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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