Global Nut Products Market Forecast, Trend Analysis And Competition Tracking - Market Insights (Global): 2015 - 2031

The Demand for Nut Products from 2015 to 2020 Vs. Future Market Projections for 2022-2031

Nuts are nutrition-rich foods that are a great source of fats, protein, dietary minerals, and vitamins as well as Omega-3 fatty acids. Nut products are comprised of whole or split nuts, nut meal, flour, oil, etc. Shelled nuts primarily used in confectioneries and bakery products. These products are widely preferred because of its high nutrition value.

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Global Nut Products Market Revenue Outlook:

The Global Nut Products Market is valued at US$ 1,684.6 Mn in 2021, and is projected to register а САGR of 5.5% by 2031.

Owing to various favorable characteristics of nut products, they appear to be gaining traction in terms of adoption rates, particularly among health-conscious individuals over the last few years. This surge in general awareness can be chalked-up to an increase in the prominence of various chronic diseases. Additionally, the increasing consumer health awareness across the globe is one of the factors for increasing growth of nut products in these recent years. Moreover, these products have been found to offer various health and wellness benefits, and as such, have had a profound influence on the adoption rates of convenience goods. Nut products such as nut butter and pastes are being used in large quantities for the purposes of baking confectioneries, particularly in markets based out of Europe and North America. Peanut butter is an excellent example of a nut product that has been widely accepted across the world, irrespective of the type of cuisine they follow. In addition to that, nuts are increasingly being used as primary ingredients in various new products that have been launched, and elements such as this are expected to further complement the revenue growth trajectory of this global industry in the foreseeable future.

The vigorous growth index and excellent potential scaling of the plant-based dairy alternative sector, in almond milk and as a filler in the production of meat analogues (vegetarian meat), for example, are leading to the establishment of new business prospects for the global nut products industry as a whole. Major key players such as Olam International and others have begun to focus their resources towards the development of these aspects of their respective businesses. In addition, products such as nut-based butter, paste, fillings, and flour are predominantly being used in bakeries, and confectioneries. Furthermore, almonds, walnuts, and hazelnuts are a few of the main raw materials being used in the manufacture of various nut products.

However, conventional raw materials that are often used in the manufacture of nut products are considered to be agricultural commodities, and these commodities may be subject to market variations or fluctuations that generally impact the price and availability of a given product. Exotic and uncommonly available nuts are usually not easy to obtain, mostly in part due to these fluctuations in crop volumes and harvest outputs. Manufacturers that use nuts as a primary raw material require the aid of well-planned inventory management systems to be in place, and this may pose a potential hindrance to various small-scale manufacturers operating in this market. Thus, the process of converting nuts into assorted end-products does involve a certain high cost, which in turn generally affects a consumer in a negative manner as these products will end up with a higher sale price.

Global Production (MT) Of Tree Nuts (2019-2020)

Global Almond Import (MT)

Global Cashews Import (MT)

Global Hazelnuts Import (MT) 

Regional Analysis: 

The global nut products market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

The markets in Europe are expected to account for the highest CAGR over the next decade (2022-2031), owing to the presence of prominent market players in the confectionery as well as the food & beverage industries across countries such as UK, Germany, and Belgium among others.

The on-going adoption of plant-based products and other health related goods that are, for example, “gluten-free”, Non-GMO, etc., is a trend that is anticipated to fuel market growth prospects for this global industry in the years to come. Consumers in this region are now focused on consuming low-calorie food and maintaining a healthy diet plan in order to lead more fuller lives.

COVID-19 Impact Analysis:

The unpredictable demand for goods such as snacks, dairy, bakery, and confectionary-based products during the initial stages of this pandemic has had an adverse influence on the operations of concerned supply chain processes as respective governments around the world imposed strict restrictions on the movement of goods and individuals during a pre-determined timeline. However, as these respective lockdowns are relaxed, and trade begins to resume it regular course, the global nut products industry is expected to regress to its pre-COVID state accordingly.

Notable Developments in the Industry:

• In September 2021, Belgium-based premium chocolate and cocoa products company Barry Callebaut acquired a manufacturer of chocolate specialties and decorations, Europe Chocolate Company (ECC) company, as a means of increasing their respective consumer bases, and subsequent market footprint in the process.
• In April 2021, Blue Diamond Growers announced the launch of two new products “Tasty Little Cup™ and Baking Mixes”. These products were introduced to meet the consumer demand for ‘better-for-you’ options in baking aisles.
• In April 2020, Zentis launched its peanut butter in two different flavours, as a direct response to a trend that had gain traction over the last few months. These two flavors have a creamy, delicate texture and consistency with a certain crunch, owing to the many fine peanut pieces that have been included in either mix.

Competitive Landscape:

The global nut products market landscape appears to be fragmented, with a significant portion of it being in the control of various key players that generally have their respective production bases situated in countries across both Europe and North America.

• Olam International
• Barry Callebaut
• Blue Diamond Growers
• Zentis GmbH & Co. KG
• Mount Franklin Foods
• Kerry Group
• Mandelin Inc
• Bazzini
• Besana
• Lubeca
• Puratos
• Other Key Players

Report Scope

• Forecast Period: 2022-2031
• Actual Year: 2021
• Historical Data Available for: 2015-2020

Key Regions Covered

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Segments Covered

Global Nut Products Market, By Product Type

• Nut Butter
• Nut Paste
• Nut Fillings
• Nut Flour
• Other Product Types

Global Nut Products Market, By Nut Type

• Almonds
• Peanuts
• Cashews
• Hazelnuts
• Other Nut Types

Global Nut Products Market, By End-Use Industry

• HoReCa
• Bakery Shops
• Food Processing Plants
• Households

• Olam International
• Barry Callebaut
• Blue Diamond Growers
• Zentis GmbH & Co. KG
• Mount Franklin Foods
• Kerry Group
• Mandelin Inc
• Bazzini
• Besana
• Lubeca
• Puratos
• Other Key Players