Tree Nuts Market Analysis APAC,Europe,North America,Middle East and Africa,South America - US,China,India,Germany,Spain - Size and Forecast 2023-2027

Tree Nuts Market Size 2023-2027

The tree nuts market is estimated to grow by USD 20.01 billion at a CAGR of 7.15% between 2022 and 2027. The market expansion hinges on various factors, such as the increasing favorability of vegan snacks among millennials, the recognized health advantages linked with tree nuts, and the upsurge in launches of tree nut-based snacks. However, the market faces obstacles due to its potential as a source of allergens, stringent regulations concerning food safety, and the elevated production costs associated with tree nuts. The market is experiencing significant growth driven by the growing preference for tree nuts as a favored snack among millennials. With millennials gaining greater purchasing power worldwide, they are expected to emerge as a substantial consumer demographic in the coming years. This increase in consumption is fueled by the diverse health advantages linked to tree nuts, along with consumers' inclination towards convenient snacking choices that fit into their busy lifestyles.

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

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The market refers to the global business sector dedicated to the production, processing, and distribution of tree nuts such as Pistachios, Hazelnuts, Chestnuts, Brazil Nuts, and others. These Nuts are grown in various geographies, including the United States, China, and other countries. The Chestnuts, for instance, are primarily produced in Italy, China, and the United States. Brazil Nuts are majorly sourced from Brazil. The market is growing, driven by their high nutritional value and increasing consumer awareness about health and wellness. The flavor and diversity make them a popular choice for consumers, leading to a high demand for them in various industries, including food and beverage, cosmetics, and pharmaceuticals. Moreover, the market for these nuts is expected to grow further due to the increasing trend of veganism and vegetarianism, as they are a rich source of protein and other essential nutrients for individuals following plant-based diets. The market is also witnessing the emergence of new technologies, such as confectionery and functional foods, which are expected to create new opportunities for players in the market.

Market Segmentation

This report extensively covers market segmentation by product (almonds, pistachios, walnuts, cashews, and others), distribution channel (offline and online), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The Tree Nut Industry experienced significant market growth in 2022, with almonds leading the segment due to their numerous health benefits. These benefits include improving heart and bone health, controlling blood sugar levels, and reducing the risk of cancer. Tree nut oils, derived from almonds and other nuts, have gained popularity in the cosmetics industry for their antioxidant properties, which help reduce dark circles, discomfort, and wrinkles on the skin and hair. The market expansion is driven by consumer awareness and the product's market potential in various sectors, including food, beverages, baking, and confectionery items. Tree nut oils are used in the production of these products, contributing to the industry's growth. Competitors in the Tree Nut Industry continue to innovate and offer new products to meet consumer demands. However, animal activism and public awareness campaigns regarding the ethical production pose challenges to the industry's growth.

By Product

The market share growth of the almonds segment will be significant during the forecast period. Almonds are highly nutritious and contain numerous vitamins and minerals. They are rich in antioxidants and other healthy fats. They improve overall heart health and bone health, control blood sugar levels, and reduce the risk of cancer. This is led by their numerous health benefits, and the consumption of almonds has increased globally.

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The almonds segment was valued at USD 9.12 billion in 2017. Almond is the most consumed category of tree nuts globally. To meet the overall demand for almonds, the production per annum has also increased. The US was one of the major producers of almonds in 2022. In 2022, the US accounted for more than three-fourths of the total global almond production, followed by Australia and Spain. The exports have also increased significantly which will continue to help the market grow during the forecast period.

By Region

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APAC is estimated to contribute 33% 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.

According to studies in the MRFR Database, the Asia-Pacific region, particularly China, India, and Vietnam, leads in tree nut consumption due to their nutritious properties and health benefits. These nuts, including Cashew Nuts, Brazil Nuts, Almonds, Walnuts, Pistachios, Hazelnuts, and Chestnuts, provide essential minerals and proteins, healthy fats, and fiber. The rise of the middle class and increasing disposable income have fueled consumer demand for functional foods. Organizations like the Nuts and Roasted Seeds Division of the Chinese National Food Industry Association and the South China Tree Nut Association promote nut education. Product types range from whole and split nuts to those used in bakery & confectionery, breakfast cereals, snacks, flavored drinks, butter & spreads, and dairy products. The geographic reach of tree nut production capabilities includes companies like Startkit and a Dutch company. They address mineral deficiencies and protein deficiencies.

Market Dynamics and Customer Landscape

The market refers to the global business sector dedicated to the production, processing, and trade of various tree nuts such as Cashews, Almonds, Brazil Nuts, Pistachios, and others. The industry is significant due to the high demand for these nuts as a source of protein, healthy fats, and essential minerals. Studies show that the MRFF (Market Research Future) projects a positive growth trajectory for the market during the forecast period. The market is driven by factors like increasing health awareness, rising disposable income, and the growing preference for natural and organic food products. The market is segmented by type, application, and region. The major types include Almonds, Cashews, Brazil Nuts, Pistachios, and others. The primary applications are in the food and beverage industry, pharmaceuticals, and cosmetics. The major regions contributing to the market are North America, Europe, Asia Pacific, and the rest of the world. The Nutritive and Functional Properties of Tree Nuts, their Disposable Income, and the Availability of Nuts in various regions influence the market dynamics. The Cash Flow Analysis and Profitability Analysis are crucial factors for the players in this market. Our researchers analyzed the data with 2022 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.

Key Market Driver

The surge in the popularity of tree nuts as a preferred snack choice among millennials is propelling the market forward. Millennials, wielding increasing purchasing power globally, are anticipated to constitute a significant consumer base in the foreseeable future. This rise in consumption is fueled by the myriad health benefits associated with them, coupled with consumers' preference for convenient, on-the-go snacking options amid their hectic lifestyles.

Across various categories, products meet this demand for convenience and portability. Consequently, global consumption has witnessed a notable uptick, bolstering the market's growth trajectory. With millennials wielding an annual spending power of approximately USD 200 billion, they present an appealing consumer segment for market players. Accordingly, industry participants are innovating and introducing new snack offerings to cater to the escalating demand from the millennial demographic.

Significant Market Trends

An increase in the use of tree nut oils in the cosmetics industry is the primary trend in the market. The oils extracted from the them serve as a great skin and hair nourishing agent and can be used for treating dark circles and pain. This has increased the use of tree nut oils in the cosmetic industry. The availability of different varieties has led to the availability of different tree nut oils in the market.

Walnut oil, which is rich in omega-3 fatty acids, is mostly used as a massage oil and in aromatherapy. Almond oil is another important tree nut oil with several cosmetic benefits. Similarly, cashew nut oil has many applications in the cosmetics industry owing to its high vitamin and mineral content. Therefore, owing to high awareness among consumers about the cosmetic benefits of tree nut oils, their demand has increased across regions, which is driving their adoption in the cosmetics industry.

Major Market Challenge

The potential source of allergens is the major challenge impeding the market growth. Despite all the health benefits, they can be a potential source of allergenic proteins that can cause serious health conditions among people prone to tree nut allergy. Several symptoms are observed in people allergic to tree nuts.

Anaphylaxis is the most serious type of allergic reaction among people prone to tree nut allergies. It results in various respiratory, gastrointestinal, and cardiovascular diseases. It also affects the skin, causing anxiety and headaches, among other health problems. This is one of the major factors expected to limit the growth of the market during the forecast period.

Customer Landscape

The 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Market Companies?

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.

Voicevale Ltd. - The company offers Brazil nuts, cashews, macadamia nuts, and hazelnuts. The company supplies a line of food products such as nuts, dried fruit, tropical fruits, seeds, superfoods, and coffee among others.

The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• BredaBest BV
• Diamond Foods LLC
• Hines Nut Co.
• IMPORTACO SA
• Intersnack Group GmbH and Co. KG
• Kanan Enterprises
• Kanegrade Ltd.
• Mariani Nut Co.
• Olam Group Ltd.
• Plantabul Ltd.
• Poindexter Nut Co.
• Select Harvests Ltd.
• Summit Almonds LLC
• Sun Valley Nut LLC
• Waterford Nut Co.

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.

Market Analyst Overview

In the dynamic and competitive market, studious analysis of trends and consumer preferences is crucial for businesses dealing with tree nuts such as cashews, almonds, pistachios, and hazelnuts. The market for these nuts is diverse, with various production and sourcing countries like Brazil, China, and the United States. Producers and distributors must prioritize product innovation, focusing on fiber-rich, nutrient-dense, and organic offerings. Nuts are known for their nutritional benefits, including protein, healthy fats, and essential minerals. Nuts also cater to various dietary needs, such as vegan, gluten-free, and keto diets. Marketing strategies should emphasize their health benefits and versatility. They can be used in various applications, including baking, cooking, and as snacks. Brands can also collaborate with influencers and chefs to create unique recipes and content, increasing brand awareness and consumer engagement. Moreover, sustainability and ethical sourcing are essential considerations for tree nut businesses.

Consumers are increasingly conscious of the environmental impact and labor practices in the production of their food. By adhering to ethical and sustainable practices, businesses can differentiate themselves and attract a loyal customer base. In conclusion, the market is a thriving industry with diverse offerings and evolving consumer preferences. Successful businesses will prioritize product innovation, health benefits, and sustainability, while effectively communicating these values to their customers. The global market encompasses a wide range of offerings, including nutritive nuts suitable for various culinary purposes. product type diversity ensures options for direct Consumption/Culinary purpose. Notably, peanut flour emerges as a versatile choice, catering to both direct consumption and culinary needs. Different form insights and product types highlight the market's ability to meet diverse consumer preferences.

Segment Overview

The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments.

• Product Outlook 
  • Almonds
  • Pistachios
  • Walnuts
  • Cashews
  • Others

• Distribution Channel Outlook 
  • Offline
  • Online

• Region Outlook 
  • APAC
    • China
    • India
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • North America
    • The U.S.
    • Canada
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Brazil
    • Argentina

Market Scope
Report Coverage	Details
Page number	166
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 7.15%
Market growth 2023-2027	USD 20.01 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	6.97
Regional analysis	APAC, Europe, North America, Middle East and Africa, and South America
Performing market contribution	APAC at 33%
Key countries	US, China, India, Germany, and Spain
Competitive landscape	Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks
Key companies profiled	Archer Daniels Midland Co., Barry Callebaut AG, Blue Diamond Growers, Borges Agricultural and Industrial-Nuts SA, BredaBest BV, Diamond Foods LLC, Hines Nut Co., IMPORTACO SA, Intersnack Group GmbH and Co. KG, Kanan Enterprises, Kanegrade Ltd., Mariani Nut Co., Olam Group Ltd., Plantabul Ltd., Poindexter-Nut Co., Select Harvests Ltd., Summit Almonds LLC, Sun Valley-Nut LLC, Voicevale Ltd., and Waterford Nut Co.
Market dynamics	Parent market analysis, market growth and trends, Market Forecasting, 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 market 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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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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