What Has Been The Evolution of the Nuts Market in Recent Years?
The nuts market has seen considerable growth due to a variety of factors.
• The nuts market has grown significantly in recent years. It will grow from $58.33 billion in 2024 to $62.13 billion in 2025, at a compound annual growth rate (CAGR) of 6.5%.
This growth is driven by greater awareness of the health benefits of nuts, increased demand for plant-based protein sources, the rise of snacking culture, changes in dietary preferences toward natural foods, and the emergence of nut-based alternatives in food products.
What Is the Forecasted Market Size and Growth Rate for The Nuts Market Size In The Coming Years?
The nuts market is expected to maintain its strong growth trajectory in upcoming years.
• The nuts market is expected to grow strongly, reaching $79 billion by 2029 with a CAGR of 6.2%.
The growth is driven by climate change impacting production, shifting consumer preferences towards organic and sustainably sourced nuts, urbanization influencing consumption, the growing adoption of nut-based products in food and beverages, and the integration of nuts into functional foods and nutraceuticals. Trends include innovative nut snacks, demand for premium nut products, fortified nuts with health benefits, nut use in cosmetics, and plant-based meat and dairy alternatives.
What Factors Are Driving Growth In The Nuts Market?
The increasing trend towards plant-based diets is projected to fuel advancements in the nuts market. Predominantly containing foods sourced from plants such as fruits, vegetables, grains, nuts, and seeds, and featuring little to no animal products, plant-based diets' growing acceptance can be traced back to heightened recognition of environmental sustainability, health benefits, and ethical views about animal welfare. Nuts, due to their adaptability and being a plentiful supply of protein, healthy fats, and vital nutrients, promote the growth of plant-based diets, making them a fitting and nutritious alternative for those exploring plant-based substitutes. For example, a report by the Plant Based Foods Association, a food and beverage body based in the US, noted a rise in plant-based food sales in May 2023, seeing a 6.6% growth in sales, a jump from 5.9% in 2021, accompanied by a 10% increase in average retail prices. As a result, the expanding trend towards plant-based diets is stimulating the growth of the nuts market.
What Are The Main Segments Of The Global Nuts Market?
The nuts market covered in this report is segmented –
1) By Products: Almonds, Peanuts, Cashew, Walnuts, Hazelnuts, Pistachios
2) By Distribution Channel: Retail Sales, Supermarkets Or Hypermarkets, Conventional Stores, Food And Drink Specialty Stores, Traditional Grocery Stores, Franchise Outlets, Online Retail
3) By Application: Snack Foods, Bakery And Confectionery, Cereals And Granola Bars, Nutritional And Health Foods, Cooking And Culinary Applications, Nut-Based Milk And Dairy Alternatives, Cosmetics And Personal Care, Industrial Use
Subsegments:
1) By Almonds: Raw Almonds, Roasted Almonds, Salted Almonds, Flavored Almonds, Sliced Almonds, Almond Butter, Almond Milk, Almond Flour, Blanched Almonds
2) By Peanuts: Raw Peanuts, Roasted Peanuts, Salted Peanuts, Peanut Butter, Peanut Flour, Dry-Roasted Peanuts, Flavored Peanuts, Peanut Oil
3) By Cashews: Raw Cashews, Roasted Cashews, Salted Cashews, Cashew Butter, Cashew Milk, Flavored Cashews, Cashew Pieces, Cashew Nuts In Shell
4) By Walnuts: Raw Walnuts, Roasted Walnuts, Salted Walnuts, Chopped Walnuts, Walnut Oil, Walnut Butter, Flavored Walnuts
5) By Hazelnuts: Raw Hazelnuts, Roasted Hazelnuts, Salted Hazelnuts, Hazelnut Butter, Hazelnut Milk, Flavored Hazelnuts, Ground Hazelnuts
6) By Pistachios: Raw Pistachios, Roasted Pistachios, Salted Pistachios, Pistachio Butter, Pistachio Oil, Flavored Pistachios, Shelled Pistachios, Pistachio Kernels
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What Trends Are Shaping The Nuts Market?
Leading companies in the nut market are putting more emphasis on creating inventive items, like flavored snack nuts, to secure a competitive advantage in the industry. Flavored snack nuts are essentially nuts that have been seasoned, encased, or drenched in various flavorings to boost their taste and desirability as a snack. For example, in April 2024, a product called PLANTERS Nut Duos Snacks was introduced by PLANTERS, an American snack food company and a subsidiary of Hormel Foods Corporation. This product serves up unique combinations of two different types of nuts and flavors, offering a varied and appealing snack option. Every variant is distinctively designed for the best snacking experience, comprising two harmonious flavors on two different kinds of nuts, making it the perfect snack for any event. The three exciting options offered include Buffalo Cashews with Ranch Almonds, Cocoa Cashews paired with Espresso Hazelnuts, and Parmesan Cheese Cashews coupled with Peppercorn Pistachios. This ground-breaking product launch denotes considerable progress in the nuts market, presenting a fresh sector that accommodates evolving consumer tastes and bolsters the commanding position of the PLANTERS brand.
Who Are the Key Players In The Nuts Market?
Major companies operating in the nuts market are:
• Cargill Incorporated
• Nestle S.A.
• Archer Daniels Midland Company
• BASF SE
• PepsiCo Inc.
• Olam International Ltd.
• Mondelez International
• Kraft Heinz Company
• Dupont danisco
• The J.M. Smucker Company
• Nutreco
• Novozymes AS
• Blue Diamond Growers
• Chr. Hansen Holding AS
• John B. Sanfilippo & Son Inc.
• Diamond Foods Inc.
• Hampton Farms Inc.
• Novus International Inc.
• Borges Agricultural & Industrial Nuts
• Tropical Foods Company Inc.
• Nutiva
• Mariani Nut Company
• Tierra Farm Inc.
• Star Snacks
• Hines Nut Company
• Royal Nut Company
• Waterford Nut Company
• WeAreBio
• Germack Pistachio Company
What Is The Most Dominant Region In The Nuts Market?
Europe was the largest region in the nuts market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nuts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
