Edible Nuts Market Outlook
The global edible nuts market report is profiled in detail in the new report from Market Research Future (MRFR). The global edible nuts market’s historical profile is covered in the report, further carrying on to the market’s present conditions, and then on to its likely future growth trajectory.
Direct consumption as well as other forms of consumption of edible nuts are popular due to their versatile, agreeable taste and ease of mixing them with other foods. Bakery products and dairy products are among the highest-selling non-direct consumption channels for the global edible nuts market. Bakery products such as bread and cakes are a highly popular way of consuming edible nuts, as the taste of the bakery products further enhances the eating experience of the nuts. Dairy beverages with edible nuts are also widely popular and are likely to remain a major selling item over the forecast period, leading to steady growth of the Edible Nuts Market Size was valued at USD 210.69 billion in 2022. The Edible Nuts market industry is projected to grow from USD 222.48 Billion in 2023 to USD 344.04 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.60% during the forecast period (2023 – 2032).
The global edible seeds and nuts market is primarily driven by the growing awareness about the high nutritive value of nuts such as almonds, cashews, and walnuts. Edible nuts are highly nutrient-dense foods containing large amounts of minerals and other trace nutrients such as vitamins, which has driven their demand among the world’s increasingly health-conscious consumer demographic. Edible nuts also contain high amounts of proteins and fats, further adding to their allure for the health-conscious demographic. The growing urban demographic, which is informed enough to deliberately purchase foods that add to the overall nutrient consumption, is likely to remain a major driver for the global edible hickory nuts market over the forecast period.
Covid 19 Analysis of Edible Nuts Market
The edible nuts market due to covid 19 has quickly reached its pre-covid levels and a healthy growth rate. During the forecasted period the global market was driven by how economic revival in most of the developing nations. Furthermore, the unprecedented situations that were expected due to the third waves are creating a gloomy outlook. The study shows that the evaluation has started due to different scenarios of covid 19s impact. The impact on the future of the edibles market.
Due to the current situation of coronavirus the small, medium, and large businesses are affected. Due to the complete shutdown manufacturing units were adversely affected. Lack of workers and government policies dragged the market down during the year 2020.
Competitive Analysis:
Leading players in the global Key Edible Nuts include Market Players Archer Daniels Midland Co., Diamond Foods, Blue Diamond Growers, Waterford Nut Co., Acomo, John B. Sanfilippo & Son Inc., KP Nuts, and Select Harvests Ltd., Mariani Nut Co., and Olam International.
In April 2019, Vietnamese company T&T Group JSC announced plans to purchase 200,000 tons of raw cashews from the Ivory Coast, Africa’s leading producer of cashews and second worldwide. The purchase could extend to 400,000 tons in a few years. The purchase of such a high volume of cashews by a single company is raising eyebrows in the cashew market, as the market is mostly fragmented and dominated by smaller players.
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Segmentation:
The global edible nuts market has been segmented based on type, form, application, and region.
Based on type, the global edible nuts market has been segmented into cashew nuts, walnuts, almonds, chestnuts, pistachios, hazelnuts, brazil nuts, and others.
By form, the global edible nuts market has been segmented into whole, powder, split, and others.
Based on application, the global edible nuts market is segmented into direct consumption/culinary purposes, bakery and confectionery, breakfast cereals, snacks, beverages, dairy products, and others.
Regional Analysis:
Europe is expected to dominate the global dry fruits and nuts market, followed by North America and the Asia Pacific. In Europe, the popularity of edible nuts is quite high, while the demand for healthy foods is growing. Countries such as the Netherlands, the UK, France, and Germany are likely to dominate the Europe market for edible nuts over the forecast period. Government regulations in the region also have supported the rising entry of low-sugar, nutrient-rich foods into these countries, which has driven the demand from the edible nuts market outlook.
Apart from the growing demand for healthier alternatives to popular, conventional snack items, the edible nuts market in North America is also driven by the growing demand for nut oils and nut butter products. The growing popularity of almond milk as an alternative to dairy is also likely to remain a key driver for the edible nuts market in North America over the forecast period.
The Asia Pacific is expected to exhibit the fastest growth over the forecast period due to the rapid consolidation of the unorganized edible nuts market in the region. Countries in the Asia Pacific such as India have longstanding traditions of using edible nuts in culinary applications, leading to a smooth growth in demand from the edible nuts market Overview in the region.
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