Nuts Industry Overview
The global nuts market size was valued at USD 54.11 billion in 2021 and projected to expand at a CAGR of 4.6% from 2022 to 2028.
The growing awareness about the health benefits among the consumers, as they are the rich source of vitamins, protein, antioxidants, fiber, and other essential minerals are promoting market growth. Moreover, the increasing development in the nut snacks industry in developing economies like India, China, is further propelling the market growth over the last few years.
Gather more insights about the market drivers, restrains and growth of the Global Nuts Market
The rising population growth coupled with growing urbanization across the globe, and increasing disposable income of the consumers has led to increased consumption of the nuts, which has anticipated the growth of the market. Furthermore, the market is driven by the trend of convenience food such as nut snacks in developed regions.
Moreover, the manufacturers developing new innovative flavored nut products have projected market growth during the forecast period. Moreover, continuously changing lifestyles and demographics, such as the increasing number of working women have led to significant growth of the market. However, the stringent government rules and regulations and the high cost associated with nuts are hindering market growth.
The lockdown announced during the COVID-19 pandemic had disturbed transportation and suspended the supply of nuts and their products for a short duration as well as significant impacts on export and import of the nuts market across the globe. Meanwhile, a healthily dietary pattern such as the consumption of almonds, peanuts, cashew, and other products has led to keeping the human immune system functions as well, which will create opportunities for the market players after the COVID-19 pandemic. Thus, the market is expected to witness a healthy market growth rate in the upcoming years.
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- Snacks Market – The global snacks market size was valued at USD 1,450.4 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 2.7% from 2022 to 2030. The pandemic-induced lockdowns coupled with the global adoption of the work-from-home culture have led to the exponential growth of the snack market in the last two years.
- E-commerce Market – The global e-commerce market size was valued at USD 9.09 trillion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 14.7% from 2020 to 2027. Increasing penetration of the internet is bolstering the smartphone-using population across the world.
Nuts Market Segmentation
Grand View Research has segmented the global nuts market based on products, distribution channel, and region:
Nuts Product Outlook (Revenue, USD Billion; 2017 – 2028)
Nuts Distribution Channel Outlook (Revenue, USD Billion; 2017 – 2028)
Nuts Regional Outlook (Revenue, USD Billion; 2017 – 2028)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
Key Companies profiled:
Some prominent players in the global nuts market include
- Diamond Foods, Inc.
- John B. Sanfilippo & Son
- Kraft Foods Inc.
- Olam International Ltd
- Borges Agricultural & Industrial Nuts
- Hines Nut Company
- Mariani Nut Company
- Germack Pistachio Company
- Hampton Farms, Inc.
- Star Snacks Co., LLC
- Fresh Nuts GmbH
- Tropical Foods
- Durak Findik
- Grower Direct Nut Co. Ltd
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