Nut Meals Market Analysis North America, Europe, APAC, Middle East and Africa, South America - US, Germany, China, France, UK - Size and Forecast 2024-2028

Nut Meals Market Size 2024-2028

The nut meals market size is forecast to increase by USD 1.90 billion, at a CAGR of 4.5% between 2023 and 2028.

• The market is experiencing significant growth due to several key factors. First, the increasing preference for convenient and nutritious meal options among millennials is driving market expansion. Additionally, the rise of eCommerce platforms has made nut meals more accessible to consumers, leading to an increase in sales. However, competition from other flour-based alternatives poses a challenge for market growth. Consumers are also seeking nut meals with nutritional benefits, such as weight management and heart health, which are fueling demand for high-protein snacks. Clean-label claims and organic certifications are also important trends in the market, as consumers increasingly prioritize health and transparency in their food choices. Overall, the market is poised for continued growth, with a focus on meeting the evolving needs and preferences of health-conscious consumers.

What will be the Size of the Market During the Forecast Period?

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• The market has experienced steady growth over the past few years, driven by various factors. This market caters to consumers with diverse dietary requirements and taste preferences. One of the primary factors fueling the growth of the market is the increasing demand for convenient, nutritious, and tasty snacking options. With busy lifestyles and hectic work schedules, working women and individuals seeking quick and nutritious meals have shown a significant inclination towards nut meals. Moreover, the market for nut meals is witnessing a rise in demand due to their nutritional benefits. These meals offer excellent sources of protein, fiber, healthy fats, and essential minerals, making them an ideal choice for weight management and heart health. Additionally, the growing popularity of high-protein diets, such as paleo and vegan, has contributed to the market's expansion. Another factor contributing to the growth of the market is the increasing trend of clean-label claims and organic offerings. Consumers are increasingly seeking nut meals that are free from artificial additives and preservatives, and those made from organic ingredients.
• Furthermore, the e-commerce sector has played a crucial role in the accessibility and convenience of nut meals. Online purchasing has made it easier for consumers to order nut meals from the comfort of their homes, thereby expanding the market's reach. The market encompasses a wide range of products, including flavored nut products, nut butters, and nut-based snacks. Peanuts continue to dominate the market due to their nutrient density and affordability. However, other nuts, such as almonds, cashews, and pistachios, are also gaining popularity due to their unique flavors and health benefits. The market's historical growth can be attributed to the increasing awareness of the importance of healthy snacking. As consumers become more health-conscious, they are turning away from processed and sugary snacks and opting for nut meals instead.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Product
  • Inorganic nut meals
  • Organic nut meals
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
    • France
  • APAC
    • China
  • Middle East and Africa
  • South America

By Product Insights

• The inorganic nut meals segment is estimated to witness significant growth during the forecast period.

Nut meals, a lightweight and portable meal option, have gained popularity in the US eCommerce market due to their accessibility and nutritional benefits. Inorganic nut meals, specifically, consist of nut varieties prepared with non-USDA-certified ingredients, including natural, raw, and generic options. These meals offer convenience, affordability, and versatility, available in various packages and nut types. The nutritional benefits of nut meals are significant, contributing to weight management and heart health. High-protein snacks derived from nuts are a popular choice for those seeking clean-label claims, making inorganic nut meals an attractive option. However, the demand for organic nut meals is on the rise, driven by consumer preferences for cleaner, healthier food sources.

Despite the nutritional advantages, the higher cost of organic nut meals may hinder the growth of this market segment. As the trend towards healthier eating continues, the market is expected to expand. To capitalize on this growth, eCommerce platforms and food manufacturers should focus on offering a wide range of nut meals, catering to various dietary needs and preferences. Organic, gluten-free, and other specialized nut meals may attract a premium price, but their popularity is likely to increase as consumers prioritize their health and well-being. In conclusion, the inorganic market holds potential for growth in the US eCommerce sector, offering a nutritious, affordable, and convenient meal solution for health-conscious consumers.

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The inorganic nut meals segment was valued at USD 6.42 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• North America is estimated to contribute 45% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in North America is experiencing significant growth due to the increasing demand for nutrient-dense, convenient food options. In the United States, the busy work schedules of consumers have led to an increase in the popularity of nut-based snacks, such as peanut butter and almonds. These foods offer numerous health benefits, making them an attractive choice for individuals seeking to maintain a balanced diet. The food processing industry has responded to this trend by producing a wide range of nut meals, including those made from peanuts, almonds, and cashews. As a result, the market for nut meals in North America is poised for continued expansion during the forecast period.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in the adoption of Nut Meals Market?

Increasing demand from millennials is the key driver of the market.

• Millennials are driving the demand for healthier and more varied food options in the United States market. This demographic values nutritious and unique choices over traditional foods. In response, food industry players are introducing an array of new, health-conscious alternatives. Nutmeals, made from nuts such as walnuts, almonds, macadamia nuts, and others, are gaining popularity. These meals offer a cost-effective, nutrient-dense alternative to processed flours. Millennials appreciate the satiating properties of nuts and view them as essential for balanced diets. Nutty sweets, protein bars, and almond meal are some popular nutmeal products that cater to this trend. These foodstuffs provide a customizable and convenient solution for millennials' busy lifestyles. Nutmeals offer a versatile and nutritious addition to the modern American diet.

What are the market trends shaping the Nut Meals Market?

An increase in sales through online channels is the upcoming trend in the market.

• The market is experiencing significant growth due to the expanding e-commerce sector, which now represents approximately 12% of global retail trade. This trend is driven by consumers' increasing preference for convenience and the rising number of online transactions. In the US, where internet penetration exceeded 90% in 2021, the popularity of online shopping is expected to continue growing. Nut companies can capitalize on this trend by increasing their online presence, catering to various dietary requirements and taste preferences, and offering flavored nut products with sweet or spicy layers. By focusing on these areas, nut meal providers can effectively target working women and other consumers seeking quick, nutritious snacks.

What challenges does the Nut Meals Market face during the growth?

Competition from other flours is a key challenge affecting the market growth.

• The demand for gluten-free ingredients has seen a significant rise due to the increasing number of consumers adhering to gluten-free diets. In response, manufacturers are promoting their offerings under gluten-free labels, expanding the market's scope. Among the various gluten-free meals and flours, those derived from nuts are gaining popularity. Two prominent examples are Hazelnut Meal and Walnut Meal. These nut meals offer numerous health benefits and can be used in various applications, including Snacks & Bars and Nut Butters. Nut meals, specifically Hazelnut Meal and Walnut Meal, are nutrient-dense alternatives to traditional wheat-based flours. These meals are produced by finely grinding nuts and can be used in a variety of recipes.
• They provide a rich source of protein, fiber, and healthy fats, making them an excellent choice for consumers seeking nutritious and gluten-free options. Moreover, the versatility of nut meals is a significant factor contributing to their market growth. They can be used in various food applications, such as baking, confectionery, and the production of Snacks & Bars and Nut Butters. As the health-conscious consumer base continues to expand, the demand for nut meals is expected to rise, offering potential opportunities for businesses in this sector.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Blue Diamond Growers
• Bobs Red Mill Natural Foods Inc.
• COFCO International
• Detriot Gourmet Nut Co.
• HBS Natural Choice
• Honeyville Inc.
• Kanegrade Ltd.
• King Arthur Baking Co. Inc.
• Ludlow Nut Co. Ltd.
• McCormick and Co. Inc.
• NOW Health Group Inc.
• Oh Nuts
• Royal Nut Co.
• Sun Organic Farm
• Superior Nut Co. Inc.
• The Hershey Co.
• The Wonderful Co. LLC
• Tierra Farm

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.

Research Analyst Overview

The market is witnessing significant growth due to the increasing demand for dietary requirements and taste preferences. Flavored nut products, such as sweet and spicy layers, cater to various consumer preferences, expanding the market's reach. Working women, athletes, and individuals following paleo diets or vegan population are major consumer groups driving sales of nuts. Ecommerce platforms and online purchasing have made nut meals more accessible than ever. Nutritional benefits, including weight management and heart health, make high-protein snacks a popular choice for health-conscious consumers. Clean-label claims, organic, and natural labels are key trends influencing market growth.

Further, nuts like peanuts, almonds, cashews, walnuts, macadamia nuts, and others offer high nutrient density and health benefits. Peanut butter and nut butters are popular nut-based snacks, while almond meal, hazelnut meal, and walnut meal are widely used in cafes, bakeries, and the Horeca sector. The production of almonds, macadamia nuts, and other nuts is a significant part of the market's value chain. Nutty sweets, protein bars, and snacks & bars are also contributing to the market's growth. Food processing technologies are advancing to cater to the increasing demand for nut meals.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, APAC, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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