Global tree nuts market is valued at USD 46.0 billion in 2022 and is projected to reach a value of USD 109.7 billion in 2030 expanding at a CAGR of 11.1% over the forecast period of 2022-2030.
Global Tree Nuts Market– Overview
Tree nuts are defined as one of the food allergens that are most often linked to anaphylaxis, which is a serious, rapid-onset allergic reaction that may be fatal.
A tree nut allergy does usually lasts a lifetime and fewer than 10 percent of people with this allergy outgrow it. The tree nuts grow on trees, while the peanuts grow underground and are considered as legumes.
Also, tree nuts include almonds, Brazil nuts, cashews, hazelnuts, pecans, pistachios and walnuts. But, an allergy to one tree nut does not necessarily mean an individual is allergic to other tree nuts. Certain tree nuts are closely related that includes, cashew with pistachio and pecan with walnut.
Key Market Trends- Growth Determinant And Challenges
Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth is the consumer trends toward well-being over the forecast period.
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Additionally, the demand for tree nut has grown globally, which is significantly impacting the nut market. Almonds and cashews are two of the major products in the market for tree nuts, and almonds witness a high popularity among consumers because of their health benefits and availability.
The market penetration of almonds is higher than other nuts and this is the reason that tree nuts have gained a significant penetration globally. Also, E-commerce or online retail has made it accessible to consumers across various parts of the world over the forecast period.
Segmental analysis of the market
Based on Product
- Almonds
- Cashews
- Walnuts
- Pistachios
- Others
The almonds segment has dominated the market growth over the forecast period. This is because of higher demand of almonds than any other nuts.
Based on Distribution Channel
- ONLINE
- OFFLINE
The online segment has dominated the market growth over the forecast period. This is because of the various offers and deals provided on the online segments.
Europe is anticipated to amplify at a considerable CAGR
The global tree nuts market is segmented into 5 main regions namely, North America, Europe, Asia Pacific, Latin America, and Middle east and Africa. Among these, Europe has dominated the market growth over the forecast period. This is because of the rise in the popularity of healthy and nutritious snacking and eating habits among European consumers.
Competitive Landscape
Some of the prominent companies operating in the market are
- Diamond Foods
- Montagu Snacks
- Golden Peanut and Tree Nuts
- Baja
- Sun Valley
- Select Harvests Limited
- Blue Diamonds Growers
- Mariani Nut
- Lone Tree Nut Company, Inc.
- Waterford Nut Co.
- Olam Group
Major questions answered in this report
- What is the growth rate of this tree nuts market?
- What are the primary growth determinants of the market?
- Which are the major regions constituting the geographical landscape of the market?
- Which are the prominent companies operating in the market?
Key takeaways from the report
- This market is projected to expand at a CAGR of 11.1% over the forecast period.
- The consumer trends toward well-being is aiding market progression.
- The almonds segment is poised to expand significantly over the forecast period.
- Europe has dominated the regional market sphere over the forecast period.
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Report Scope:
Global Tree Nuts Market: Historical Years: 2018-2021
Global Tree Nuts Market: Forecast Years- 2022-2030
Global tree nuts Market 2022: USD 46.0 billion
Global tree nuts Market 2030: USD 109.7 billion
Global tree nuts Market CAGR: 11.1%
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