NEW YORK, U.S., April 28, 2023 (GLOBE NEWSWIRE) — According to a comprehensive research report from Market Research Future (MRFR), “Tree Nut Market Research Reports Information by Product Type, Form, Application and Region – Market Forecast to 2030”The market is expected to grow from USD 105.2 billion by 2030 and show a CAGR of 8.75% by 2023-2030.
Market Scope:
Since they are a good source of protein, fiber and other essential elements, nuts are used in healthy snacks. Growing health consciousness has led to an increase in the consumption of snack foods rich in protein, fiber, vitamins and good fats. Another factor driving major market players to flavor their tree nut products is customer demand for novelty snack foods. For example, the introduction of innovative flavors such as pepper and salt, honey sugar and chocolate have boosted cashew nut sales. Tree nuts are processed and flavored to improve their appearance and shelf life. Increasing consumption of some organic foods, especially tree nuts like Brazil nuts, cashews, almonds, and walnuts, may help reverse some conditions, according to recent studies.
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Competitive Dynamics:
The major players in the market are investing heavily in R&D to expand their product offerings, which will spur further tree nut market growth. With significant changes in the industry, including new product launches, contractual arrangements, mergers and acquisitions, increased investment, and collaboration with other organizations, market participants are also undertaking a variety of strategic activities to expand their global footprint. In order to thrive and thrive in an atmosphere where competition is fierce and the market is expanding, the industry’s competitors in the tree nut sector must offer products that are affordable.
Report scope:
| report attribute | details |
| Market size in 2030 | $105.2 billion |
| CAGR | 8.75% (2023-2030) |
| base year | 2022 |
| forecast period | 2023-2030 |
| Historical data | 2018 – 2021 |
| Forecast Units | Value (Billion USD) |
| report coverage | Sales Forecast, Competitive Landscape, Growth Factors and Trends |
| Covered Segments | By product type, shape, application and region |
| Regions Covered | North America, Europe, Asia Pacific and Rest of the World (RoW) |
| Important market drivers | Increasing awareness of by-products |
| Increasing customer preference for nutritious nuts. |
Some of the major players in Tree Nuts Market include
- Olam International Ltd
- Diamond Foods Inc.
- Mariani Nut Company Inc.
- Blue diamond breeders
- Select Harvests Limited
- Waterford Nut Co. Inc.
Market USP:
market leader
Consumer desire for healthy foods and beverages, fueled by rapid urbanization and the rise of the middle class, is driving the growth of the tree nut industry in Asia Pacific. Additionally, the increased per capita disposable income is contributing to the increase in tree nut sales. Functional meals could fetch a higher price from consumers. Due to growing health awareness in the region, key tree nut processors are focusing on the region to increase sales volumes.
COVID-19 Analysis:
Tree nuts are a nutritious snack that is high in fat, energy and vitamins. They work wonders to boost immunity. After COVID-19, everyone strives for excellent health and strong immunity. People don’t care about frills anymore; Instead, they only aim for a high level of immunity, which has been beneficial for this sector. Additionally, it has resulted in closures and restrictions for the world’s restaurant, bakery, confectionery and dairy businesses. However, the lockdown and travel restrictions also boosted the nut market in many areas.
The COVID-19 epidemic has significantly changed how customers prioritize purchases. Plant-based proteins are more popular than ever and there is a growing need for meals that are nutritious, convenient and sustainably made. As a result of the epidemic, e-commerce platforms are gaining traction as more and more people start buying their groceries online. Due to the closure of the above stores, the COVID-19 epidemic had a significant negative impact on the growth of the offline segment. In addition, the harsh lockdown imposed by governments around the world has brought international travel to an end.
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Market segmentation:
Insights into product types
In 2021, the market share of almonds was 31.14%, which was the largest market share. In contrast, the pistachio category is expected to register the highest CAGR of 9.47% over the forecast period, which will boost revenue of the tree nut market.
form insights
Because they contain high levels of protein and healthy fats, the entire sector held a larger 66.29% market share in 2021 and is expected to reach a CAGR of 8.83% over the study period.
Application Insights
The bakery and confectionery category is expected to develop at the largest CAGR of 9.17 percent during the forecast period, with a market share of 31.62 percent in 2021.
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Regional Analysis:
The Asia Pacific Tree Nuts Market, which is projected to reach US$26.93 billion in 2022, is projected to develop at a considerable CAGR during the research period. The rise of the middle class and rapid urbanization driving consumer demand for healthy foods and beverages are both driving the growth of the tree nut industry.
The second largest market share for tree nuts in North America is expected to develop positively due to advances in beverage flavor. In addition, in recent years there has been a noticeable increase in the bread and confectionery industry, where tree nuts are widely used. Promotional efforts are heavily emphasized by major manufacturers to increase public awareness of new product launches. However, the market development in the region is predicted to be limited during the forecast period by the increased occurrence of nut allergies in North America. Pistachio production will increase in 2023 due to excellent weather conditions and a year-on-year for the harvest. In addition, the US tree nut market had the fastest growth rate in North America, while Canada’s tree nut market had the largest market share.
From 2022 to 2030, the European tree nuts market is projected to register the highest CAGR growth. The increasing disposable per capita income is the reason for the increasing sales of tree nuts. Functional meals could fetch a higher price from consumers. Due to rising health awareness in the region, key tree nut processors are focusing on increasing sales volumes. However, the German tree nut market needs to be more standardized due to the large number of local and regional participants. Due to the rising health awareness of the nation, the Indian market is expected to expand rapidly in the projected period. In addition, the UK hair color market had the fastest growth rate in Europe, while the German hair color market had the largest market share.
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