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Press Release: Edible Nuts Market to reach around US$ 339,405.7 million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Edible nuts are widely consumed around the globe and are rich in various essential nutrients such as minerals, fiber, potassium, and calcium. Edible nuts are also rich in other vitamins such as vitamin K, vitamin A, and iron. Peanuts, almond, hazelnuts, pistachios, cashew nuts and walnuts are some of the edible nuts.
The global edible nuts market is projected to reach around US$ 339,405.7 million by the end of 2027, in terms of revenue, growing at CAGR of 5.8% during the forecast period (2020-2027).
Drivers:
Increasing adoption of a healthy lifestyle among consumers has increased the consumption of edible nuts. Moreover, consumers have become more conscious about their intake and diet due to which there has been a significant rise in the consumption of nuts such as walnuts, almond, pistachios, hazelnuts, and cashew nuts. Thus, the rising adoption of a healthy lifestyle is primarily fueling the market growth of the edible nuts.
Figure 1. Global Edible Nuts Market Share (%) in terms of Value, By Region, in 2019
Asia Pacific region dominated the global edible nuts market in 2019, accounting for 63.1% share in terms of value, followed by Middle East & Africa and North America, respectively.
Market Restraints
The high price of processing techniques as edible nuts such as cashew undergoes various stages of processing before commercialization such as extraction, clarifying, and packaging. All these processes are quite intensive and this factor is expected to hamper the market growth of the edible nuts.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 228,230.4 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 5.8% | 2027 Value Projection: | US$ 339,405.7 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Diamond Foods, Inc., Archer Daniels Midland Company, Olam International, Blue Diamond Growers, Mariani Nut Company, Select Harvests, GNC Global Nut Company AG, Waterford Nut Company, Farm Breeze International LLC., and Just Almonds Inc. |
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| Growth Drivers: |
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| Restraints & Challenges: |
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Market Opportunities
Growing demand for edible nuts as an ingredient due to their excellent properties longer shelf life, crunchiness, and high nutritional value is expected to bring new opportunities. They are widely used in yogurts, artisan crackers, ice-creams, and pastries, etc. Thus, the growing use of edible nuts as an ingredient in various food products is projected to foster market growth in the near future.
Increasing use of edible nuts in chocolates by manufacturers to enhance the taste of the product is expected to offer lucrative opportunities to the market of edible nuts. For instance, in September 2019, Nestlé introduced new KitKat and Yorkie chocolate bars in the UK and Ireland as a part of a new range called More. Both bars contain fruit, nuts, and cereal contains more protein, fiber, and 30% less sugar than comparable chocolate bars.
Figure 2. Global Edible Nuts Market– Opportunity Analysis
Market Trends
Snack consumption among health-conscious consumers is a trend in the market. This is creating a high demand for healthy snacks. For instance, in August 2019, Kellogg’s Nutri Grain has launched its first savory snack product, Nuts & Bolts Trail Mix. The new snack is a mix of Nutri-Grain, peanuts, and spices with diced almonds and is available in three flavor varieties; Original Spice, Smokey BBQ, and Sweet Chilli.
The trend of gifting nuts products is growing across various regions especially in India during festivals is expected to propel the market growth of edible nuts. In addition to this high consumption of nuts as after meals which are further expected to boost demand for edible nuts. Growing preferences for sweet snacks are also expected to foster the market growth of the edible nuts over the forecast timeframe.
Global Edible Nuts Market - Impact of Coronavirus (Covid-19) Pandemic
Bakeries are facing reduced consumption and supply chain disruption challenges due to Corona virus pandemic. While at-home consumption has seen significant growth during the crisis, out-of home consumption has come to a standstill. Once the situation normalizes out-of home consumption will pick up again. This is expected to hamper the demand for edible nuts for short period. According to Coherent Market Insights, edible nuts market is expected to grow at a slightly lower CAGR between 2020 and 2021.
Competitive Section:
Company Names
Few Recent Developments
Select Harvests
In July 2018, Select Harvests has stepped up its commercial efforts by signing a trademark license and distribution agreement with Chinese company PepsiCo Foods. The purpose of this deal is to market and distribute Select’s Lucky brand of nuts and seeds across China for a period of 5 years.
Edible nuts are dried fruits consumed worldwide and are an important source of nutrients such as fiber, potassium, vitamin A, iron, and Vitamin K. Edible nuts include almonds, cashew nuts, hazelnuts, walnuts, pistachios, chestnuts, and Brazil nuts. Edible nuts are used across various food &beverage applications such as desserts, bakery, snacks, etc.
Market Dynamics
Increasing production capacities of the edible nuts by major producers through mergers and acquisitions are expected to be a major trend in the market growth. For instance, in October 2019, Olam International has expanded its capacity in almond ingredients with the $54 million acquisition of Californian almond processor Hughson Nut Inc. (HNI). HNI’s processing capabilities allow it to offer a “fully integrated solution” across the almond value chain from the US, including processed whole nuts and value-added ingredients.
Wide applications of edible nuts across food & beverage is expected to propel the market growth. These nuts can be processed and used us spreads, toppings, dairy inclusions, confectionery fillings, salad dressings, and bakery fillings. Moreover, they are also used in the preparation of infant’s formula. Hence, multiple usages of edible nuts are projected to foster market growth over the forecast timeframe.
Lack of consumption of edible nuts across developing regions of rural areas due to lack of awareness as well as the high cost of the nuts is expected to restrict the market growth of edible nuts.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
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