Tree Nuts Market Valuation Worth USD 79.20 Billion by 2030 at 8.90% CAGR - Report by Market Research Future (MRFR)
Tree Nuts Market Size and Trends Analysis by Product Type (Cashew Nuts, Walnuts, Almonds, Pistachios, Hazelnuts, Chestnuts, Brazil Nuts and others), Form (Whole, Split and others), By Application (Direct Consumption/Culinary Purpose, Bakery & Confectionery, Breakfast Cereals, Snacks, Flavored Drinks, Butter & Spreads, Dairy Products and others) - Forecast till 2030
New York, US, July 15, 2022 (GLOBE NEWSWIRE) -- Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Tree Nuts Market Information by Product Type, Form, Application, and Region - Forecast till 2030”, the market is estimated to acquire a size of over USD 79.20 billion by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 8.90% during the review timeframe.
Almonds, cashews, Brazil nuts, pecans, hazelnuts, walnuts, and pistachios are the major types of tree nuts. If a person is allergic to one of them, it does not necessarily mean that they’ll be allergic to every tree nut. With that said, a few tree nuts are quite similar, including pistachio, pecan, walnut, and cashew. The seeds of every fruit-bearing tree are called tree nuts.
Tree nuts are associated with a host of health benefits, which foster their demand among consumers worldwide. One of the major factors for the strong growth of the tree nut industry would be the range of health benefits they offer. Tree nuts like almonds, pistachios, and cashews, address numerous protein and mineral deficiencies in the body. Given these properties, tree nuts are enjoying a massive demand, which leads to robust market growth.
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|2030 Market Size||USD 79.20 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Product Type, Form, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Market Drivers||Consumer Preference For Highly Nutritive Nut Snacks|
|Widespread Application In Various Industries|
Market Competitive Landscape:
Some of the biggest companies that are active in the tree nuts industry include
- Olam International Ltd (Singapore)
- Diamond Foods Inc. (US)
- Mariani Nut Company Inc. (US)
- Blue Diamond Growers (US)
- Select Harvests Limited (Australia)
- Waterford Nut Co. Inc. (US)
- Archer Daniels Midland Company (US)
- Tree Nuts International (India)
- Lone Tree Nut Company Inc. (US)
- Sun Valley Nut LLC (US)
Market USP Covered:
Health consciousness has mounted significantly in recent years, as cases of type 2 diabetes and cardiovascular diseases have surged at an alarming pace, raising the demand for a variety of healthy items like tree nuts. People are increasingly becoming more aware of the health benefits, such as the fat content that is polyunsaturated and monounsaturated fatty acids that help curb LDL cholesterol. The significant amounts of healthy nutrients present in tree nuts and the rising focus on weight loss among people will further enhance the market share in the following years.
Most affluent manufacturers are striving to expand their product lines of tree nuts, catering to the constantly evolving preferences and tastes of the consumers. The brands keep a tab on the evolving food habits of consumers and develop new products to accommodate their demands.
Oil made of tree nuts is beneficial for hair and skin and also helps treat dark circles, which bolsters their demand among consumers. The oil has gained a lot of traction among women, given its close association with beauty. The rising awareness regarding its advantages will help elevate the demand for a variety of tree nuts in the next few years.
Browse In-depth Market Research Report (135 Pages) on Tree Nuts: https://www.marketresearchfuture.com/reports/tree-nuts-market-2482
The lower uptake of innovative food technologies in underdeveloped countries will be unfavorable for the worldwide market. Also, a lower penetration rate of renowned brands in undeveloped countries would be a huge restraining factor for the worldwide market.
COVID 19 Analysis
The COVID-19 outbreak’s negative impact has led to a series of severe repercussions on people’s health status across the world. The aftermath is linked with the significant social and economic burden on people worldwide. While the major policymakers are implementing new frameworks and industries are adopting advanced models of expansion to maintain their relevance, people are facing a series of mental trauma.
However, there is a huge demand for ready-to-eat and fortified food products among consumers that want to eat on the go. Several industries dependent on the food industry have been affected by the COVID 19 pandemic. However, with the growth rate of the veganism trend worldwide and the escalating demand for healthy, high-quality foods, there will be a rise in lucrative opportunities in the future.
By Product Type
The product types mentioned in the MRFR review are Walnuts, Cashew Nuts, Pistachios, Brazil Nuts Almonds, Chestnuts, Hazelnuts, and more.
Forms considered in the report are Split, Whole, and others. The whole segment will reach USD 41,361.6 million by 2027 and garner the highest share in the global market over the forthcoming period.
Major applications of tree nuts are Bakery & Confectionery, Dairy Products, Direct Consumption/Culinary Purpose, Snacks, Breakfast Cereals, Butter & Spreads, Flavored Drinks, and others.
The tree nuts market has been regionally reviewed with respect to four regions, namely Asia Pacific/APAC, North America, and Europe along with RoW/rest of the world.
The APAC market has taken the lead and is also expected to procure a healthy CAGR of 9.31% from 2020 to 2027. The APAC market is progressing relentlessly, thanks to the rising prominence of several manufacturers offering a variety of tree nuts such as cashews, walnuts, and almonds. With more and more people turning health conscious and following a healthy lifestyle, the demand for tree nuts is bound to increase in the future. Further, the mounting prevalence of online retail, convenience store, departmental stores, and supermarkets/hypermarkets in the region will further catalyze business growth in the years to follow.
Europe is slated to secure the second position from 2020 to 2027 while touching USD 14,663.5 million by 2027. The robust business growth in the region is in response to the emerging veganism trend and the notable expansion of the food & beverages sector. Germany is on track to capture the highest share in the European market in the ensuing years, as the demand for low-fat nuts continues to soar. The burgeoning health-conscious population also offers lucrative opportunities to the firms active in the region.
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