The latest report by IMARC, titled “Tree Nuts: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global tree nuts market size reached US$ 46.4 Billion in 2022. Tree nuts are edible seeds that grow on trees and are known for their hard outer shell, which must be cracked open to access the edible kernel inside. These nuts are nutritionally dense, containing high levels of healthy fats, proteins, fiber, vitamins, and minerals. Some of the most commonly available tree nuts include almonds, cashews, hazelnuts, macadamia nuts, pecans, pistachios, and walnuts. These nuts are often consumed raw or roasted as a snack and are also commonly used in cooking and baking to add flavor, texture, and nutrition to dishes. These nuts are an essential source of nutrients and can be a healthy addition to a well-rounded diet. In recent years, tree nuts have gained traction as they are widely used in alcoholic and non-alcoholic beverages, snacks, confectionaries, bakery and dairy products, nutritional supplements, and cosmetics.
Global Tree Nuts Market Trends:
One of the primary factors driving the market is the increasing demand for healthy and natural food products. Additionally, the rising consumer awareness about the health benefits of tree nuts has made them a popular choice among health-conscious consumers as they are rich in nutrients, such as protein, fiber, healthy fats, vitamins, and minerals. Besides this, the growing trend toward plant-based diets is creating a positive market outlook. In line with this, the increasing disposable incomes and changing lifestyles are also contributing to the market growth. As consumers become more affluent, they are willing to spend more on premium and healthy food products. Along with this, significant developments in the processing techniques, such as infrared (IR) heating, high-power ultrasound treatment, and irradiation technology, are strengthening the market growth. Other growth-inducing factors include the expanding income level of the masses, easy accessibility of the product across various online and offline retail channels, increasing geriatric population, and widespread product utilization in anti-aging treatment. Looking forward, IMARC Group expects the market value to reach US$ 77.3 Billion by 2028, expanding at a CAGR of 8.81% during the forecast period (2023-2028).
- On the basis of the product type, the market has been divided into almonds, cashews, walnuts, pistachios, hazelnuts, chestnuts, Brazil nuts, and others. Currently, almonds are the most popular product types.
- Based on the form, the market has been segregated into whole, split, and others. Presently, whole holds the majority of the market share.
- On the basis of the distribution channel, the market has been bifurcated into online and offline. Currently, online channels account for the largest market share.
- Based on the application, the market has been categorized into direct consumption/culinary purpose, bakery and confectionary, breakfast cereals, snacks, flavored drinks, butter and spreads, dairy products, and others. Presently, bakery and confectionary accounts for the largest market share.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Archer-Daniels-Midland Company, Blue Diamond Growers, CG Hacking & Sons Limited, Diamond Foods LLC, Kanegrade Ltd., Mariani Nut Company Inc., Montagu Snacks, Olam International Limited, Select Harvests Limited, Sun Valley Limited (Zertus GmbH), Voievale Ltd., and Waterford Nut Co.
|Base Year of the Analysis
|Product Types Covered
||Almonds, Cashews, Walnuts, Pistachios, Hazelnuts, Chestnuts, Brazil Nuts, Others
||Whole, Split, Others
|Distribution Channels Covered
||Direct Consumption/Culinary Purpose, Bakery and Confectionery, Breakfast Cereals, Snacks, Flavored Drinks, Butter and Spreads, Dairy Products, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Archer-Daniels-Midland Company, Blue Diamond Growers, CG Hacking & Sons Limited, Diamond Foods LLC, Kanegrade Ltd., Mariani Nut Company Inc, Montagu Snacks, Olam International Limited, Select Harvests Limited, Sun Valley Limited (Zertus GmbH), Voicevale Ltd, Waterford Nut Co., etc.
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