New York, United States , April 20, 2023 (GLOBE NEWSWIRE) -- The Global Nut Products Market Size is to grow from USD 6.54 billion in 2022 to USD 10.94 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.3% during the projected period. The market is highly competitive, with numerous players offering a variety of products such as nut butters, nut-based snacks, and nut flours. The nut products market offers significant growth and innovation opportunities, with a focus on health and wellness being a major driver for the market.
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Nuts are rich in vitamins, antioxidants, proteins, fiber, and other essential nutrients, and their low moisture content makes them microbiologically safe. Consumers growing awareness of the health benefits of high-quality sources has fueled the growth of the nut product market. The nut products market refers to the industry that manufactures and distributes nuts and nut-based products such as peanut butter, almond milk, and cashew cheese. Because nuts are high in protein, healthy fats, and fiber, they are a popular choice among health-conscious consumers. Market growth is being driven by the expanding snack food industry, the addition of health-based ingredients, and increased awareness of health claims. The global popularity of nut products with low-calorie, low-sugar, plant-based, and low-fat properties is growing, owing to the majority of the world's population adopting a healthy and high-nutrient diet. Because of the health benefits of nut products, they are widely used in a variety of applications all over the world. As consumers become more concerned about the origin and quality of their food, there is a growing demand for organic and non-GMO food products, which is driving the growth of the nut products market. However, the volatility of nut prices is one of the most significant challenges, making it difficult for manufacturers to maintain consistent pricing and profitability. Manufacturers need to continuously innovate and differentiate their products to stay competitive in the market.
Browse key industry insights spread across 200 pages with 105 market data tables and figures & charts from the report on "Global Nut Products Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Nut Fillings with Cocoa, Nut Butter, Nut Paste/Marzipan Paste/Persipan Paste, Caramelized Nuts, and Nut Flour), By Quality (Standard, Premium), By Nut Type (Walnuts, Almonds, Hazelnuts, Cashews, Pecans, Peanuts, Pistachios, Macadamias, Brazil Nuts, and Pine Nuts), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032)" Get Detailed Report Description Here:
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The nut pastes/marzipan paste/persipan paste segment is estimated to hold the largest market during the prediction period.
The global nut products market is classified into cocoa nut fillings, nut butter, nut paste/marzipan paste/persipan paste, caramelized nuts, and nut flour. The nut pastes/marzipan paste/persipan paste segment is expected to have the largest market during the forecast period. Demand for high-quality and premium confectionery products is driving growth. These pastes are versatile ingredients that can be used to make everything from simple cakes and pastries to intricate and decorative confectionery.
The standard segment holds the largest market share in the nut products industry.
The global nut products market is divided into two categories based on quality: standard and premium. The standard segment has the largest market share in the nut products industry. The growth can be attributed due to, standard nut products are popular because they are inexpensive and easily accessible to the average consumer. These products are typically made from traditional nuts such as almonds, cashews, and peanuts and are frequently used as a snack or as an ingredient in a variety of recipes.
The almonds segment is expected to hold the largest market share within the nut products industry during the forecast period.
The global nut products market is divided into walnuts, almonds, hazelnuts, cashews, pecans, peanuts, pistachios, macadamias, Brazil nuts, and pine nuts based on nut type. Almonds are expected to have the largest market share in the nut products industry during the forecast period. The reason behind the growth is, almonds are a versatile nut that can be used in a wide range of products, from snack bars and nut butter to baking ingredients and confectionery
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Europe is expected to hold the largest share of the global nut products market during the projected period.
Europe has the largest market share in the global nut products market, owing to high demand for high-quality, healthy foods. The United Kingdom, Germany, France, and Italy are some of Europe's largest nut product markets. The growing popularity of vegan and plant-based diets, as well as the growing demand for healthy snack options, are propelling the European nut products market forward. The Asia-Pacific region is expected to grow at the fastest rate in the coming years, owing to the rising population, disposable income, and consumer health consciousness. China, India, Japan, and South Korea are among Asia Pacific's largest markets for nut products. The growing popularity of nut-based snacks, as well as the growing demand for premium and healthy food products, are driving the growth of the Asia Pacific nut products market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Nut Products Market include Mandelin, Inc, Besana, Bazzini, Olam International, Zentis GmbH & Co. KG., CSM, Treehouse Almonds, Mount Franklin Food, Barry Callebaut, Kondima, Royal Nut Company, Moll Marzipan GMBH, Blue Diamond Growers, Lubeca, Puratos, and Others.
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Recent Developments
In May 2022, Konfekture, a Danish fruit filling and jam manufacturer, was acquired by Puratos. This acquisition will help the company strengthen its position in the global nut products market, allowing it to develop nut-based jams and fillings.
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