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The Brazil nuts market size is projected to increase by USD 62.54 million, at a CAGR of 4.77% between 2023 and 2028
The report includes a comprehensive outlook on the Brazil Nuts Market, offering forecasts for the industry segmented by Product , which comprises conventional Brazil nuts and organic Brazil nuts. Additionally, it categorizes Distribution Channel into offline and online, and covers Regions, including Europe, North America, APAC, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
The convenience of consuming Brazil nuts is the key factor driving the market growth. Consumers fast-paced lifestyles have made it difficult for them to find time to prepare food from scratch. Consequently, they are looking for convenient, healthy food products that fulfill their daily nutrition requirements, are easy to eat, and can be consumed on the go. As Brazil nuts are convenient to consume and have high nutrition content, they are fast becoming the food of choice for busy people who want healthy snacking options that are convenient and filling. The increasing number of people with obesity and diabetes has also led to an increased demand for meal replacement products. The preference for snacking between meals with options such as Brazil nuts is gaining traction among time-pressed consumers. Thus, such factors will drive the growth of the global Brazil nuts market during the forecast period.
The Brazil Nuts Market shows an Accelerated CAGR during the forecast period.
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Increasing demand for Brazil nuts among various end-users is the primary trend shaping market growth. Brazil nuts are increasingly being used in a variety of food applications such as flavored beverages, gastronomy, snacks, morning cereals, bakery and confectionery, and dairy goods. Brazil nuts are gaining popularity among consumers because they are included in a variety of popular diets, including the keto and vegan diets.
Moreover, Brazil nuts are non-greasy, portable, natural, and nutritious, healthful meals that are handy and enjoyable to eat. Furthermore, the demand for and consumption of premium nut-based snack items is also expanding, which encourages market players to create new products, including Brazil nuts as the main component. This rising demand for Brazil nuts across various end-users would drive market growth during the projected period.
A potential source of allergens is a challenge that affects market growth. Although Brazil nuts have several health benefits, they can be potential sources of allergenic proteins that can cause serious health conditions among people prone to Brazil nuts allergy. This is considered to be one of the major factors expected to limit the growth of the global Brazil nuts market during the forecast period.
Moreover, according to Health Canada, Brazil nuts are priority allergens. There is a widespread prevalence of Brazil nuts allergies globally. In the US, the rate of Brazil nuts allergy was 0.2% and 0.5% among children and adults, respectively. Hence, such factors can impede the growth of the global Brazil nuts market during the forecast period.
Offline distribution channels play a crucial role in the global Brazil nuts market, presenting avenues to reach consumers via physical retail locations and other traditional sales channels. Establishing partnerships with grocery chains, health food stores, specialty nut shops, and supermarkets worldwide allows Brazil nuts to be prominently displayed and easily accessible to consumers. Furthermore, combining offline distribution channels with a cohesive marketing strategy, packaging innovation, and strong partnerships is crucial to effectively penetrate the global Brazil nuts market, catering to diverse consumer preferences and retail landscapes. Thus, offline distribution channels will boost the growth of the global Brazil nuts market during the forecast period.
The market share growth by the conventional Brazil nuts segment will be significant during the forecast period. Conventional Brazil nuts are produced with the application of pesticides and fertilizers the nuts. Conventional farming is usually done on a large scale. Controlling pests without pesticides is challenging on large farms. One of the key elements that will propel the segment's growth throughout the projection period is the cheaper cost of conventional Brazil nuts in comparison with organic Brazil nuts.
The conventional Brazil nuts segment was valued at USD 154.58 in 2018.
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The expected rise in demand for traditional Brazil nuts during the forecast period can be attributed to consumers' growing awareness of the health advantages associated with nut consumption. Basse Nuts, NOW Health Group Inc. (NOW Health Group), Nut Cravings, Nuts.com Inc., and Sunfood are some of the major vendors that offer conventional Brazil nuts in the global market. Hence, the health benefits of conventional Brazil nuts will drive the growth of the segment during the forecast period.
Europe is estimated to contribute 51% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The Brazil nut market in Europe is expected to witness steady growth due to the rising demand for Brazil nuts as consumers in the region are shifting toward healthier foods. The UK, Germany, Italy, and France are among the main markets for Brazil nuts in Europe. The growing markets in Central Europe offer opportunities to the Brazil nuts market players.
Moreover, Brazil nuts are among those products whose demand is rising in Central European countries such as Belgium, the Netherlands, and Poland. Brazil nuts had also registered the third-highest import value growth rate in the past five years in Europe, only behind cashew nuts and chestnuts. Furthermore, with the growing preference for healthier food options, it is expected that European consumers will widely adopt edible nuts (including Brazil nuts) in their daily diets. Hence, such factors are expected to drive market growth in this region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The Brazil nuts market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The Brazil nuts market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Brazil Nuts Market Scope |
|
Report Coverage |
Details |
Page number |
155 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.77% |
Market Growth 2024-2028 |
USD 62.54 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.35 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 51% |
Key countries |
US, Canada, UK, Germany, and Italy |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Basse Nuts, Bata Food, DRB Foods Pvt. Ltd., Florenzano Nuts, Happilo International Pvt. Ltd., Istore Direct Trading Pvt. Ltd., LexUnder Inc., NOW Health Group Inc., Nut Cravings, Nuts.com Inc., Nutshup, Royal Nut Co., Select Harvests Ltd., Sincerely Nuts Inc., Sunbest Natural, Sunfood, Terrasoul Superfoods, The Roasting Co. Ltd., We Go Nuts Inc., and Wildly Organic |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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