Nut Ingredients Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1463
Global Nut Ingredients Market is projected to grow at a substantial rate in the forecast period. There are numerous factors that have contributed to the market growth of nut products. The consumer demand for healthy, innovative and convenient food products is driving the growth of the industry. Various government organizations and associations have encouraged the consumption of nut products which are creating opportunities for the manufacturers to adopt the business. The ready-to-eat trend has accelerated the growth of the product market. There has been a significant rise in the flavors of nuts which has given impetus to the snacks and confectionery industries.
The product is a substitute for baked food containing protein. Many nuts contain vitamin E and omega-3 fats which are a good substitute of meat, and are a preferred choice for vegetarians. As the vegan population is increasing, there has been a great rise in the demand of the product. The deterring factor is the high number of calories and fats which are present in nut ingredients. The artificial flavors, allergies and sodium content can cause harm to the heart. The increasing obesity levels further add to the factors that hinder the growth of the market. Nevertheless, due to the global consumption of healthy foods, the market size of the product will increase in the forecast period.
In a botanical sense, a nut is a dry fruit with one or two seeds having a hard ovary wall as it matures. The seed is not attached to the ovary walls. Nuts are used in various food products. There is a wide variety of nut ingredients such as almonds, pistachios, peanuts, cashews, hazelnuts, walnuts, pine nuts, soy nuts, pecans, sunflower nuts, etc. They are energy boosting snacks enriched with proteins, calcium, fiber and other nutrients. They also contain monounsaturated and polyunsaturated oils. They are used in various product formulations and are highly preferred by food manufacturers. The category of the products has expanded and has added functionality in various food products.
The nut ingredients market can be classified on the basis of form, type, application and region. Based on the form, the product can be divided into roasted nuts and unroasted nuts. Roasted nuts are in high demand across the global market with an upward trend in the forecast period. Manufacturers have offered many brands for roasted nuts. Based on the type, the product is divided into hazelnuts, almonds, cashews, walnuts, peanuts and others such as soy nuts, chestnuts, etc. In terms of revenue, almonds are dominant, followed by hazelnuts, walnuts and cashews. The demand for walnuts has been increasing owing to the health benefits associated with them. There is a high demand of almonds in snacks in North America.
Based on application the market has been segmented into bakery products, confectionaries, dairy products, cereals, desserts, snacks and bars, beverages and others such as sauces and salads. The snacks and bar segment has seen the highest rise in the consumer market owing to the wellness and health trends. Based on region, the market has been segmented into five regions, North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. North America has the highest share of the product in the global market. Europe and Asia Pacific are the next in queue.
Some of the major market players are Barry Callebaut Schweiz Ag, Specialty Commodities Inc., Kerry Group, Fruisec SA, Mars, Incorporated, Kanegrade Ltd., Mondelez International, Inc., Russell Stover Chocolates, LLC, Blue Diamond Growers, The Hershey Company, Olam International, Delphi Organic GmbH, Cargill, Inc., Northwest Hazelnut Company, Edible Solutions Ltd., Crain Walnut Shelling Inc., etc.
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