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Report Overview
The nuts market size reached around USD 57.02 Billion in 2023. The market is projected to grow at a CAGR of 5.60% between 2024 and 2032 to reach nearly USD 93.11 Billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- As per the industry reports, total nut production amounted to 5.3 million metric tons for 2022-2023 season.
- China holds the position of the leading producer and consumer of walnuts globally, contributing to the nuts market revenue.
- India ranks as the leading importer of nuts globally, with an import value amounting to 3.3 billion USD in 2022.
Global Nuts Market Growth
In 2021, the total value of United States tree nut exports reached USD 8.9 billion, reflecting a 6% increase compared to 2020. The leading three markets, which together represented 52% of total sales, were the European Union, China, and India, with respective values of USD 2.8 billion, USD 978 million, and USD 889 million. China stands as the foremost producer and consumer of walnuts globally, contributing over 42% of the world's walnut production during the 2017/18 season, amounting to 871,850 metric tons. India ranks among the largest producers of cashews, with cultivation spanning approximately 0.7 million hectares, consequently driving up the nut market share.
The rising consumer awareness regarding the importance of a healthy lifestyle has led individuals to incorporate more fruits and nuts into their diets, enhance their water consumption, and adopt various other healthy eating habits. These seemingly minor changes can significantly influence an individual's overall health and well-being, thereby leading to the nut market expansion. World Health Organization (WHO) recommends that adults include nuts in their diets due to their numerous health benefits, prompting consumers to recognise the importance of this nutritious food and contributing to the expansion of the global market. In response to the growing demand from health-conscious consumers, companies in the sector are increasingly adopting organic farming practices.
Compound Annual Growth Rate
Value in USD Billion
5.6%
2024-2032
Nuts Market Outlook
*this image is indicative*
Key Trends and Developments
The nuts market growth can be attributed to rising trends of health and wellness, expansion of plant based and vegan diet, and rising demand for convenient snacking.
Expansion of Health and Wellness Sector
Nuts are known to be rich in nutritional value as they include protein, good fats, and fiber, among other essential nutrients. The expansion of the health and wellness sector is encouraging people to incorporate nuts in their diets to complete their daily nutritional intake.
Rise in Plant Based and Vegan Diet
One of the notable nuts market trends is the expansion of plant based and vegan diet. Nowadays, people are incorporating plant derived food into their daily diets due to several reasons such as increasing popularity of vegan diets and rising adoption of sustainable consumption practices.
A Convenient Option for Snacking
Nuts are a convenient option for snacking as they are easy to carry and consume. Nowadays, people lead a very busy and occupied life which often leads to lesser time. Nuts can be a perfect snacking option in satisfying appetite of people who are always on the go, leading to the nuts market development.
Rising Demand for Functional Food
Nuts are being included to functional foods and drinks more frequently in order to offer more health advantages. Customers' growing desire for natural components that support health is fuelling the market for goods like cereals, protein bars, and fortified beverages.
Global Nuts Market Trends
The market is witnessing several trends including the expansion of health and wellness sector, rising demand for healthy snacks, and rising emphasis on vegan and plant-based diet. Nowadays, there is a rising emphasis on health and wellness trends which are leading to the expansion of nuts market size. Additionally, the adoption of plant-based and vegan diet is also propelling the nut market growth further. With changing dietary patterns, people are shifting towards plant-based food including nut milk such as almond milk and cashew milk, this trend further drives the demand for nuts.
Global Nuts Industry Segmentation
The EMR’s report titled “Global Nuts Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Breakup by Product
- Almonds
- Peanuts
- Cashew
- Walnuts
- Hazelnut
- Pistachios
- Others
Breakup by Distribution Channel
- Offline
- Online
Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Global Nuts Market Share
Based on distribution channel, the market is segmented into online and offline. The online segment is projected to dominate the market, representing a CAGR of 9.5%, leading to the global nuts market expansion. The demand for nuts has increased due to the expansion od online distribution channels. Online distribution channels facilitate speedy delivery, wide product options, seasonal discounts, and doorstep delivery, leading to the expansion of the nut market.
Leading Companies in the Global Nuts Market
Major players are focusing on the production of sustainable farm practices to produce nuts in order to improve nuts market outlook.
Diamond Foods, LLC
Diamond Foods, LLC was founded in 1912 and is headquartered in Stockton, California, United States. It is an American company that produces different products including walnuts, pecans, almonds, pine nuts, and hazelnuts, among others.
John B. Sanfilippo & Son, Inc.
John B. Sanfilippo & Son, Inc. was founded in 1922 and is headquartered in Illinois, United States. It is an A...
Mariani Nut Company
Mariani Nut Company was founded in 1972 and is headquartered in California, United States. This American compa...
Borges Agricultural & Industrial Nuts, S.A.
Borges Agricultural & Industrial Nuts, S.A. was founded in 1896 and is headquartered in Catalonia, Spain. The ...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other major player in the market are Hines Nut Company, Hampton Farms, Star Snacks, Grower Direct Nut Company, Inc., and Royal Nut Company, among others.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market attained a value of nearly USD 57.02 Billion.
The market is assessed to grow at a CAGR of 5.60% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024 -2032 to reach about USD 93.11 Billion by 2032.
The major drivers of the market for nuts are rising trends of health and wellness, expansion of plant based and vegan diet, and rising demand for convenient snacking.
As per the EMR report, the different types of products in the market are almonds, peanuts, cashew, walnuts, hazelnut, and pistachios, among others.
Regions considered in the market are North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The major players in the market are Diamond Foods, LLC, John B. Sanfilippo & Son, Inc., Mariani Nut Company, Borges Agricultural & Industrial Nuts, S.A., Hines Nut Company, Hampton Farms, Star Snacks, Grower Direct Nut Company, Inc., and Royal Nut Company, among others.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by Distribution Channel |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
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