Overview and Scope
Pine nuts, also known as pine seeds, are edible seeds harvested from certain species of pine trees. They are small, elongated, and have a soft texture and a delicate, buttery flavor. They are valued for their rich flavor and high nutritional content, including healthy fats, protein, vitamins, and minerals, making them a popular ingredient in various culinary dishes.
Sizing and Forecast
The pine nuts market size has grown strongly in recent years. It will grow from $3.06 billion in 2023 to $3.30 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to nutritional and medicinal value, increasing agricultural practices, exploration, and colonization, growing economic value, and developments in food preservation.
The pine nuts market size is expected to see strong growth in the next few years. It will grow to $4.43 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to the rising popularity of plant-based diets, expansion of the food processing industry, growth in the gourmet and specialty foods market, cultural and religious significance, and global trade expansion. Major trends in the forecast period include sustainable and ethical sourcing, expansion in emerging markets, innovative packaging solutions, health and wellness focus, and product innovation.
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Segmentation & Regional Insights
The pine nuts market covered in this report is segmented –
1) By Type: Siberian Pine, Korean Pine, Italian Stone Pine, Chilgoza Pine, Singleleaf Pinyon
2) By Form: Raw And Processed, Powder, Oil
3) By Nature: Organic, Conventional
4) By Sales Channel: Business To Business, Business To Consumer
5) By End Use: Bakery, Confectionery And Desserts, Snacks And Breakfast Cereals, Sauces And Dressings, Cosmetics And Personal Care, Retail Or Household, Other End Uses
North America was the largest region in the pine nuts market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pine nuts 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
An increasing vegan population is expected to propel the growth of the pine nuts market going forward. The vegan population refers to individuals who adhere to a lifestyle and diet that excludes all animal-derived products. The rise in the vegan population is attributed to growing concerns about animal welfare, environmental sustainability, and personal health. Pine nuts are popular in the vegan population for their rich nutritional profile, including healthy fats, protein, and essential vitamins, making them a versatile ingredient in plant-based diets. For instance, in January 2023, according to a report published by the United States Department of Agriculture, a US-based federal department responsible for various aspects including farming, forestry, and food, it was highlighted that in Germany, nearly 8 million people adhered to a vegetarian diet, with 1.58 million identifying as vegan in 2022. Moreover, approximately 55% of the population in Germany is classified as part-time vegetarians or flexitarians, demonstrating a growing concern about meat consumption. Therefore, the increasing vegan population is driving the growth of the pine nuts market.
Key Industry Players
Major companies operating in the pine nuts market are Barry Callebaut Group, Intersnack Group, John B. Sanfilippo & Son Inc., Diamond Foods Inc., Sabra Dipping Company LLC, Mariani Nut Co., Borges Agricultural And Industrial Nuts, Besana, RM Curtis And Co. Ltd., Voicevale Ltd., Freeworld Trading Ltd., Red River Foods Inc., Peyman, Badia Spices Inc., Credé Oils Ltd. Inc., Bedemco Inc., CG Hacking And Sons Ltd, Dashi International, J.M. van de Sandt B.V., Pinoli Ltd., Shiloh Farm, Western Nut Company Inc., Wilderness Poets, Kenkko Corporation Ltd.
The pine nuts market report table of contents includes:
1. Executive Summary
2. Pine Nuts Market Characteristics
3. Pine Nuts Market Trends And Strategies
4. Pine Nuts Market – Macro Economic Scenario
5. Global Pine Nuts Market Size and Growth
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32. Global Pine Nuts Market Competitive Benchmarking
33. Global Pine Nuts Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Pine Nuts Market
35. Pine Nuts Market Future Outlook and Potential Analysis
36. Appendix
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