Nut Products Market
PUBLISHED: 2023 ID: SMRC22500
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Nut Products Market

Nut Products Market Forecasts to 2028 - Global Analysis By Product Type (Nut Pastes, Marzipan Paste and Persipan Paste), Nut Type (Hazelnuts, Cashews and Other Nut Types), Form (Unroasted Form and Roasted Form), Application (Chocolate Confectionery Products, Industrial Food Manufacturers and Other Applications), Quality, Category and Geography

4.1 (40 reviews)
4.1 (40 reviews)
Published: 2023 ID: SMRC22500

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $6.82 BN

Projected Year Value (2028)

US $10.70 BN

CAGR (2022 - 2028)

7.8%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

Europe

According to Stratistics MRC, the Global Nut Products Market is accounted for $6.82 billion in 2022 and is expected to reach $10.70 billion by 2028 growing at a CAGR of 7.8% during the forecast period. A nut is a type of fruit that has a nutritious seed and an indigestible hard shell. They give the growing plant nutrients and energy. Nuts are often lauded for their savoury flavour and usefulness. There is a huge diversity of nuts. Raw mixed nuts often contain a variety of almonds, cashews, pistachios, and other nuts. They are highly nutritious and readily available at almost any grocery or gas station. These are a nutrient-rich diet that include most of the vitamins and minerals the body need. The bracts of the flower's involucres, or whorl, may contain nuts. The majority of nuts have inferior ovaries in their pistils and are indehiscent. Some plant families in the Fagales order are capable of producing nuts.

According to the International Nut & Dried Fruits Statistical Yearbook 2019/2020, global production of tree nuts kept growing at a steady pace over the last decade, reaching around 4.6 million metric tons in season 2019/2020. According to a survey conducted by the Almond Board of California, it found that 70% of consumers prefer to eat chocolate with nuts compared to plain chocolate, in large part because the nuts make the confection ore nutritious. 85% of consumers strongly or somewhat agreed that nuts make chocolate more nutritious.



Market Dynamics:

Driver:

Rising health awareness

The global market is expected to be driven by rising interest in healthy lifestyles and nutrition knowledge above and beyond routine dietary practises. High demand for nut goods is a result of shifting customer expectations for quick-fix items with wellness and health claims. There has been a change in consumer behaviour due to rising health concerns and awareness. Additionally, people are modifying their nutritional preferences to encourage greater wellbeing. The omega-3 fatty acids found in almonds, walnuts, macadamia nuts, hazelnuts, and pecans are important for maintaining healthy joints and bones as well as cognitive function.

Restraint:

Availability and fluctuating costs for nuts as raw material

The agri-commodities that serve as the raw ingredients for nut products have significant levels of availability and price uncertainty. Given their inconsistent yields, rare and exotic nuts are more difficult to find. When using nuts as a raw material, ingredient producers must have a thoroughly thought-out inventory management system, which is typically not the case, especially for small and medium-sized firms. As a result, making nuts into items with added value like butter, pastes, and fillings is expensive. Manufacturers of processed foods and beverages eventually pass this high cost on to final customers. It is one of the main things preventing the market from expanding.

Opportunity:

Growing application spectrum for nuts and derivatives

Due to the rapid expansion and exciting possibilities of plant-based dairy and meat alternatives, manufacturers of nuts have a wide range of options. To gain a competitive edge in the foreseeable future, top businesses like Olam International and Barry Callebaut have already stepped up their efforts to cater to these desirable end-use paths. Butter, paste, fillings, and flour made from nuts are being utilised increasingly frequently in a range of applications, with baking and confectionery being the most popular. Nut paste and flour are also used to make savoury plant-based foods. Among the most often utilised raw materials for semi-finished derivatives are almonds, hazelnuts, and walnuts. Additionally, an increase in strategic alliances and the emergence of new markets will act as market drivers and increase favourable prospects for the industry's growth rate.

Threat:

Supply chain management intricacies and quality of nut products

The quality and safety concerns that arise as the products pass through various points in the supply chain are one of the major obstacles to the market expansion for nut products. Defects in the handling, distribution, transportation, and interim storage of nuts can have a significant impact on the quality of the finished products. The steps in the supply chain for nuts are sourcing, preparation, packaging, and storage. Nuts are susceptible to contamination all the way through the supply chain.

Covid-19 Impact

The COVID-19 downtime period caused the price of nuts to fluctuate widely in the market. On the other hand, the closure of restaurants and other dining establishments had a significant impact on the food and beverage business. Early in the pandemic, as governments all over the world imposed strict restrictions on the movement of goods and people on a predetermined timeline, the erratic demand for goods like snacks, dairy, bakery, and confectionary-based products had a detrimental effect on the operations of concerned supply chain processes. The food and beverage business was heavily influenced by COVID-19 in almost every region.

The hazelnuts segment is expected to be the largest during the forecast period

The hazelnuts segment is estimated to have a lucrative growth, they are readily available to customers through retail channels, these calorie-dense foods are also simple to consume. The primary component utilised in the confectionery sector to create meals, spreads, pastes, and chocolates is hazelnuts. These premium-grade nuts are offered in both unpeeled and processed forms and are priced competitively. Hazelnut trees are also a perfect crop because they don't need pesticides and can grow well in poor soil, drought, and other difficult growing situations. They prevent soil erosion, segregate more carbon than annual crops, and clean groundwater of contaminants. In addition, the hazelnut has various medical uses, including promoting healthy bowel motions, preventing cell damage, lowering cholesterol, and being a common ingredient in ayurvedic medicines. These elements are expected to increase the segments growth during the projected period.

The organic segment is expected to have the highest CAGR during the forecast period

The organic segment is anticipated to witness the fastest CAGR growth during the forecast period, due to organic nuts are distinct from regular nuts in that they don't include chemicals. Cookies, brownies, muffins, and biscuits are made using organic nuts. Additionally, it is applied as a topping to give baked goods like cakes and pancakes a more upscale appearance. Although it costs more than regular nuts, it provides the finest and purest quality of nutrients.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the region's demand for nuts including almonds, peanuts, cashews, and walnuts will be driven by the large consumer bases in China, India, and Japan. The market will develop in the next years due to customers' growing concern about their health. Additionally, due to an increase in population and increased disposable income, the region is anticipated to develop at the most rapid rate in the regional sector of the market during the projection period.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to Growing consumer knowledge of the region's nut consumption's health advantages is fueling market expansion. The consumer lives of consumers are rapidly changing to emphasize health and well-being, which will drive industry growth in the upcoming years. As a result of the availability of nutrient-dense low-carb nut goods, market expansion is anticipated to pick up in Germany and the UK due to rising consumption of almond, walnut, and cashew-based foods.



Key players in the market

Some of the key players profiled in the Nut Products Market include Barry Callebaut, Besana, ALMENDRAS LLOPIS S.A.U, CSM Group, Inc, Lemke, Kerry Group plc, Mandelin, Moll Marzipan GmBH, Royal Nut Company, Stelliferi & Itavex S.p.A, Olam Group, Bazzini, Lubeca, Kondima Engelhardt GmbH & Co. KG, Kanegrade, Blue Diamond Growers, PURATOS, Mount Franklin Foods, TREEHOUSE ALMONDS and Zentis GmbH & Co. KG.

Key Developments:

In June 2022, Blue Diamond Growers introduced more flavors of Elote Flavoured Almonds. The new flavors include Mexican-style street Corn Almonds, Korean BBQ Almonds, Mash-Ups Cinnamon and Maple Almonds, and Mash-Ups Dark chocolate and chilli pepper almonds.

In November 2021, Barry Callebaut unveiled a dairy-free and plant-based solution, Dairy-Free Compounds under its namesake brand. The product introduces a versatile, solution set that’s 100% plant-based and 100% dairy-free. This chocolate product innovation joined Barry Callebaut’s North American existing Plant craft range of dairy-free chocolates, nuts, cocoa powders, and cacao fruit experience ingredients.

In October 2021, Olam Food Ingredients (OFI) partnered with Agri-Neo, an innovative food safety technology company. Through this partnership, the companies aimed to provide the industry’s first organically pasteurized dried onions by combining OFI’s market leadership in dried onions and Agri-Neo’s pasteurization technology, Neo-Pure.

Product Types Covered:
• Nut Pastes
• Marzipan Paste
• Persipan Paste
• Nut Butter
• Nut Fillings With Cocoa
• Nut Fillings Without Cocoa
• Caramelized Nuts
• Nut Flour

Nut Types Covered:
• Hazelnuts
• Cashews
• Almonds
• Peanuts
• Macadamias
• Pine Nuts
• Walnuts
• Pistachios
• Pecans
• Brazil Nuts

Forms Covered:
• Unroasted Form
• Roasted Form

Applications Covered:
• Chocolate Confectionery Products
• Industrial Food Manufacturers
• Food Services
• Bakery Shops
• Bakery Products
• Cereals and Snack Bars
• Ice Cream and Frozen Desserts
• Beverages
• Savoury Products

Qualities Covered:
• Premium/Specialty
• Standard

Categories Covered:
• Organic
• Conventional

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Nut Products Market, By Product Type
5.1 Introduction
5.2 Nut Pastes
5.3 Marzipan Paste
5.4 Persipan Paste
5.5 Nut Butter
5.6 Nut Fillings With Cocoa
5.7 Nut Fillings Without Cocoa
5.8 Caramelized Nuts
5.9 Nut Flour

6 Global Nut Products Market, By Nut Type
6.1 Introduction
6.2 Hazelnuts
6.3 Cashews
6.4 Almonds
6.5 Peanuts
6.6 Macadamias
6.7 Pine Nuts
6.8 Walnuts
6.9 Pistachios
6.10 Pecans
6.11 Brazil Nuts

7 Global Nut Products Market, By Form
7.1 Introduction
7.2 Unroasted Form
7.3 Roasted Form

8 Global Nut Products Market, By Application
8.1 Introduction
8.2 Chocolate Confectionery Products
8.3 Industrial Food Manufacturers
8.4 Food Services
8.5 Bakery Shops
8.6 Bakery Products
8.7 Cereals and Snack Bars
8.8 Ice Cream and Frozen Desserts
8.9 Beverages
8.10 Savoury Products

9 Global Nut Products Market, By Quality
9.1 Introduction
9.2 Premium/Specialty
9.3 Standard

10 Global Nut Products Market, By Category
10.1 Introduction
10.2 Organic
10.3 Conventional

11 Global Nut Products Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa

12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies

13 Company Profiling
13.1 Barry Callebaut
13.2 Besana
13.3 ALMENDRAS LLOPIS S.A.U
13.4 CSM Group, Inc
13.5 Lemke
13.6 Kerry Group plc
13.7 Mandelin
13.8 Moll Marzipan GmBH
13.9 Royal Nut Company
13.10 Stelliferi & Itavex S.p.A
13.11 Olam Group
13.12 Bazzini
13.13 Lubeca
13.14 Kondima Engelhardt GmbH & Co. KG
13.15 Kanegrade
13.16 Blue Diamond Growers
13.17 PURATOS
13.18 Mount Franklin Foods
13.19 TREEHOUSE ALMONDS
13.20 Zentis GmbH & Co. KG

List of Tables
1 Global Nut Products Market Outlook, By Region (2020-2028) ($MN)
2 Global Nut Products Market Outlook, By Product Type (2020-2028) ($MN)
3 Global Nut Products Market Outlook, By Nut Pastes (2020-2028) ($MN)
4 Global Nut Products Market Outlook, By Marzipan Paste (2020-2028) ($MN)
5 Global Nut Products Market Outlook, By Persipan Paste (2020-2028) ($MN)
6 Global Nut Products Market Outlook, By Nut Butter (2020-2028) ($MN)
7 Global Nut Products Market Outlook, By Nut Fillings With Cocoa (2020-2028) ($MN)
8 Global Nut Products Market Outlook, By Nut Fillings Without Cocoa (2020-2028) ($MN)
9 Global Nut Products Market Outlook, By Caramelized Nuts (2020-2028) ($MN)
10 Global Nut Products Market Outlook, By Nut Flour (2020-2028) ($MN)
11 Global Nut Products Market Outlook, By Nut Type (2020-2028) ($MN)
12 Global Nut Products Market Outlook, By Hazelnuts (2020-2028) ($MN)
13 Global Nut Products Market Outlook, By Cashews (2020-2028) ($MN)
14 Global Nut Products Market Outlook, By Almonds (2020-2028) ($MN)
15 Global Nut Products Market Outlook, By Peanuts (2020-2028) ($MN)
16 Global Nut Products Market Outlook, By Macadamias (2020-2028) ($MN)
17 Global Nut Products Market Outlook, By Pine Nuts (2020-2028) ($MN)
18 Global Nut Products Market Outlook, By Walnuts (2020-2028) ($MN)
19 Global Nut Products Market Outlook, By Pistachios (2020-2028) ($MN)
20 Global Nut Products Market Outlook, By Pecans (2020-2028) ($MN)
21 Global Nut Products Market Outlook, By Brazil Nuts (2020-2028) ($MN)
22 Global Nut Products Market Outlook, By Form (2020-2028) ($MN)
23 Global Nut Products Market Outlook, By Unroasted Form (2020-2028) ($MN)
24 Global Nut Products Market Outlook, By Roasted Form (2020-2028) ($MN)
25 Global Nut Products Market Outlook, By Application (2020-2028) ($MN)
26 Global Nut Products Market Outlook, By Chocolate Confectionery Products (2020-2028) ($MN)
27 Global Nut Products Market Outlook, By Industrial Food Manufacturers (2020-2028) ($MN)
28 Global Nut Products Market Outlook, By Food Services (2020-2028) ($MN)
29 Global Nut Products Market Outlook, By Bakery Shops (2020-2028) ($MN)
30 Global Nut Products Market Outlook, By Bakery Products (2020-2028) ($MN)
31 Global Nut Products Market Outlook, By Cereals and Snack Bars (2020-2028) ($MN)
32 Global Nut Products Market Outlook, By Ice Cream and Frozen Desserts (2020-2028) ($MN)
33 Global Nut Products Market Outlook, By Beverages (2020-2028) ($MN)
34 Global Nut Products Market Outlook, By Savoury Products (2020-2028) ($MN)
35 Global Nut Products Market Outlook, By Quality (2020-2028) ($MN)
36 Global Nut Products Market Outlook, By Premium/Specialty (2020-2028) ($MN)
37 Global Nut Products Market Outlook, By Standard (2020-2028) ($MN)
38 Global Nut Products Market Outlook, By Category (2020-2028) ($MN)
39 Global Nut Products Market Outlook, By Organic (2020-2028) ($MN)
40 Global Nut Products Market Outlook, By Conventional (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
 

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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