Meticulous Research® has released a report titled "Nut Ingredients Market by Type (Almond, Cashew, Walnut, Hazelnut, Others), Form (Roasted, Raw, Powdered, Cut), Application (Confectionary, Snacks & Bars, Dairy Products, Beverages, Bakery Products), and Geography - Global Forecast to 2030." The report forecasts that the global nut ingredients market will grow to $10.2 billion by 2030, with a compound annual growth rate (CAGR) of 6.1% from 2024 to 2030.
The growth of the nut ingredients market is driven by increasing consumer demand for plant-based foods, innovations in product development, and a focus on health and wellness. Nuts provide essential nutrients, including vitamins, minerals, healthy fats, and protein, and can be consumed in various forms, including whole, chopped, ground, or processed. Investment in nut-based products is expected to further drive market growth, although challenges such as raw material price fluctuations and nut allergies may affect expansion.
Segmentation by type reveals that almonds are expected to dominate the market in 2024. Almonds are valued for their high nutritional content, including antioxidants, fiber, and vitamins. Their increasing use in various food applications, such as almond milk for vegans, and the trend towards assorted almond products contribute to this segment's growth.
In terms of form, the raw segment is projected to lead the market. Raw nuts offer longer shelf life, better nutrient retention, and absence of chemical contaminants. Their cost-effectiveness also supports their market leadership.
The snacks & bars application segment is forecasted to register the highest CAGR during the forecast period. This growth is driven by rising consumer demand for nutritious and convenient foods and an increasing number of product launches featuring nuts as key ingredients.
Geographically, North America is expected to capture the largest market share in 2024. This is due to the region's established food and beverage industry, high consumer awareness of the health benefits of nut ingredients, and the popularity of protein-rich products among millennials. The growth of the vegan population and advancements in nut-enriched products further enhance North America's market position.
In conclusion, the nut ingredients market is set for significant growth, driven by trends in plant-based diets, product innovations, and increased investments. Despite some challenges, the market outlook is positive, supported by expanding applications and rising consumer demand for healthy products.
Key Players
The global nut ingredients market is characterized by a moderately competitive scenario due to many large and small-sized global, regional, and local players. The key players operating in the global nut ingredients market are Barry Callebaut Group (Switzerland), Olam International Limited (Singapore), Archer-Daniels-Midland Company (U.S.), Terri Lynn, Inc. (U.S.), Bergin Fruit and Nut Company (U.S.), ROYAL NUT COMPANY (Australia), HBS Foods Ltd. (U.K.), Helios Ingredients Ltd (U.K.), Sran Family Orchards (U.S.), and Harris Woolf Almonds (U.S.)
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Key Questions Answered in the Report-
- What is the current value of revenue generated by the global nut ingredients market?
- At what rate is the global nut ingredients demand projected to grow for the next 5–7 years?
- What are the historical market sizes and growth rates of the global nut ingredients market?
- What are the major factors impacting the growth of this market at the global and regional levels? What are the major opportunities for existing players and new entrants in the market?
- Which segments in terms of type, form, and application category create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the nut ingredients market?
- Who are the major players in the global nut ingredients market? What are their specific product offerings in this market?
- What are the recent strategic developments in the global nut ingredients market? What are the impacts of these strategic developments on the market?
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