Overview and Scope
Nut ingredients refer to ingredients made of seeds and dried fruits that are enclosed in a tough shell. Nuts are basically a type of dry fruit with a single seed, a tough shell, and a covering called a husk.
Sizing and Forecast
The nut ingredients market size has grown strongly in recent years. It will grow from $23.43 billion in 2023 to $24.84 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to growing health consciousness, expansion of snack food industry, increased nutritional awareness, innovation in food product development, rising disposable income, shift to healthy snacking..
The nut ingredients market size is expected to see strong growth in the next few years. It will grow to $31.67 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to increasing production of nut-based spreads, demand for gluten-free products, integration into health and wellness trends, innovation in nut-infused beverages, growing market for nutritional bars, focus on sustainable and ethical sourcing.. Major trends in the forecast period include expansion of nut-enhanced product offerings, focus on clean label and natural ingredients, innovations in nut-based dairy alternatives, inclusion of nuts in confectionery, sustainability and ethical sourcing:..
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Segmentation & Regional Insights
The nut ingredients market covered in this report is segmented –
1) By Type: Cashews, Walnuts, Almonds, Hazelnuts
2) By Form: Roasted, Chopped, Raw , Powdered
3) By Application: Snacks And Bars, Confectionary, Baked Products, Dairy Products, Beverages, Other Applications
North America was the largest region in the nut ingredients market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nut ingredients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising prevalence of obesity is expected to drive the nut ingredients market going forward. Obesity is characterized as an abnormal or excessive buildup of fat that poses a health concern. Hazelnuts, pine nuts, peanuts, and walnuts are just a few of the nut ingredients that cut the risk of obesity by bringing the levels of both good and bad cholesterol down. As a result, the rising prevalence of obesity increases the demand for the nut ingredient market. For instance, in March 2022, according to the World Health Organization (WHO), a Switzerland-based specialized agency of the United Nations responsible for international public health, 650 million adults, 340 million teenagers, and 39 million children were obese around the world. This quantity is still rising. By 2025, it is predicted that 167 million adults and children will lose some of their health due to being overweight or obese. As a result, the rising prevalence of obesity is propelling the nut ingredients market.
Key Industry Players
Major companies operating in the nut ingredients market report are Archer-Daniels-Midland Company, Olam International Limited, Barry Callebaut AG, Kanegrade Flavours & Ingredients Pvt. Ltd., The Hershey Company, Bredabest BV, Terri Lynn Inc., Cache Creek Foods, Royal Nut Company, Helios Ingredients Ltd., Bergin Fruit and Nut Company, Western India Cashew Company, Savencia SA, Borges Agricultural and Industrial Nuts SA, John B. Sanfilippo & Son Inc., Blue Diamond Growers, Treehouse Foods Inc., Kanegrade Limited, Olde Tyme Foods Inc., Hampton Farms Inc., Johnvince Foods Company, The Wonderful Company LLC, Mariani Nut Company, SunOpta Inc., Golden Peanut Company LLC, Glanbia Nutritionals Inc., Ingredion Incorporated, Kerry Group plc, MGP Ingredients Inc., NOW Foods, Prinova Group LLC
The nut ingredients market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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