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Nut Products Market worth $8.9 billion by 2027 | Key Players are Olam International, Barry Callebaut, Blue Diamond Growers, Kerry Group, Mandelin Inc

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Nut Products Market worth $8.9 billion by 2027 | Key Players are Olam International, Barry Callebaut, Blue Diamond Growers, Kerry Group, Mandelin Inc

August 23
21:20 2022
Nut Products Market worth $8.9 billion by 2027 | Key Players are Olam International, Barry Callebaut, Blue Diamond Growers, Kerry Group, Mandelin Inc
MarketsandMarkets™
Europe accounted for the highest share in the global market by volume in 2021. Demand for healthy yet indulgent snacks that can satisfy consumer’s taste buds without compromising on nutritional values is the biggest trend that drives manufacturers to innovate nut products.

According to a research report Nut Products Market by Product Type (Nut Butter, Nut Paste/Marzipan Paste/Persipan Paste, Nut Fillings with Cocoa, Nut Fillings without Cocoa, Caramelized Nuts, and Nut Flour), Nut Type, Application, Quality, Category, and Region – Global Forecast to 2027″ published by MarketsandMarkets, the global nut products market size is estimated to be valued at USD 6.7 billion in 2022. It is projected to reach USD 8.9 billion by 2027, recording a CAGR of 5.9% in terms of value. An increasing number of new product launches consisting of nuts as key ingredients to drive the nut products market.

Nut Products Market

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The nut butter segment is projected to account for the second largest market share in the market

Based on product types, the nut butter segment is projected to gain the second largest market share in the nut products market. Almost all nut types, such as almonds, walnuts, pistachios, cashews, peanuts, and hazelnuts, are used to prepare nut butter. These are available in two forms: crunchy or smooth, and manufactured from non-roasted or raw nuts based on the nut type. Many key players in the food & beverage market are introducing new products to the nut butter market. For instance, Pip & Nut (US) launched “Cherry Bakewell Almond Butter,” vegan almond butter in the US market.

The walnuts segment is anticipated to gain the second largest market share in the market

Based on nut types, the walnuts segment is forecasted to account for the second largest market share in the nut products market. The Californian walnut industry has boomed over the years, consisting of over 4,000 growers and more than 90 manufacturers. Nearly 99% of the US walnut production originates from California. Californian walnuts have a massive demand across markets worldwide that have made the walnuts the fourth leading export from the state, with a value of USD 970 million.

The industrial food manufacturers segment is anticipated to dominate the nut products market

By application, the industrial food manufacturers segment is projected to gain a major share in the market. Consumers preference for nut-based products is driven to assist with weight management, improve muscle mass, and inclination toward clean label products. Nut ingredients are considered the most desired, as they make bakery and confectionery products crunchier in texture and provide nutrients while also improving the taste.

The premium/specialty products segment is forecasted to grow at a higher CAGR in the nut products market

Based on quality, the premium/specialty products segment is projected to grow at a higher CAGR in the market during the review period. Various mechanisms and better planting materials have been used to improve and support the number and quality of nuts produced throughout recent times. These changes have reassuring effects on cropping systems and related agro-ecological management systems.

The organic segment is anticipated to grow at a higher CAGR in the nut products market during the forecast period

The organic segment is projected to gain major share in the market by category. The absence of chemicals in organic nuts makes them different from conventionally grown nuts. Pesticides have been associated with a higher chance of conditions like ADHD, autism, cancer, and other reproductive and cognitive problems. Due to this, the demand for organic nuts is growing rapidly.

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The European region is projected to account for a major share in the nut products market during the forecast period

The European countries are Germany, France, Italy, the UK, Spain, Belgium, and Turkey. According to the Federal Association of the German Confectionery Industry (BDSI), the current trend in Germany is inclined toward healthy nuts and nut-fruit mixes. In Germany, nuts are majorly consumed as snacks and are considered vital ingredients in numerous traditional recipes, including cereals, marzipan, bakery items, and chocolates. The per capita consumption of nuts rose from 0.5 kg in 2014 to 1.8 kg in 2019. Additionally, a sizable population of immigrants and ethnic groups from Mediterranean nations reside in Germany. Their diets tend to be richer in dried fruits and nuts than the typical German diet.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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