Nut Products Market Size, Share, Growth Drivers, Industry Overview, Opportunities, Top Companies, and Forecast - 2027

Nut Products Market by Product Type (Nut Butter, Nut Paste/Marzipan Paste/Persipan Paste, Nut Fillings with Cocoa, Nut Fillings without Cocoa, Caramelized Nuts, and Nut Flour), Nut Type, Application, Quality, Category and Region - Global Forecast to 2027
The [https://www.prnewswire.com/news-releases/nut-products-market-worth-8-9-billion-by-2027--exclusive-report-by-marketsandmarkets-301609740.html] is estimated to be valued at USD 6.7 billion in 2022. It is projected to reach USD 8.9 billion by 2027, recording a CAGR of 5.9% in terms of value. The market growth is attributed to the growing snack food industry, the inclusion of health-based ingredients, and awareness related to health claims. There is a global increase in the popularity of nut products with low-calorie, low-sugar, plant-based, and low-fat properties; this increase is due to most of the global population adopting a healthy and high-nutrient diet. Globally, the health benefits of nut products have led to their large-scale adoption in numerous applications.

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The growth of the nut products market is influenced by several key drivers:

Health and Wellness Trends:

1. Increasing consumer awareness about the health benefits of nuts, such as their high content of healthy fats, protein, fiber, vitamins, and minerals, is a significant driver. Nuts are associated with heart health, weight management, and reduced risk of certain diseases.

2. The rise in health-conscious consumers looking for nutritious snack options boosts demand for various nut products.

Dietary Shifts and Preferences:

1. The growing popularity of plant-based diets and vegetarianism/veganism contributes to the demand for nuts as a source of plant-based protein and nutrients.

2. The inclusion of nuts in various dietary patterns like the Mediterranean diet, which is renowned for its health benefits, supports market growth.

Product Innovation and Variety:

1. Continuous innovation in nut-based products, including nut butters, spreads, milks, flours, and snacks, keeps consumer interest high.

2. The introduction of flavored and seasoned nuts, as well as convenience-focused products like single-serving packages, attracts a broader consumer base.

Culinary Uses and Applications:

1. Nuts are increasingly being used in a variety of culinary applications, including bakery products, confectionery, dairy substitutes, and cooking ingredients, expanding their market reach.

2. The incorporation of nuts in ethnic cuisines and gourmet recipes further diversifies their usage and appeal.

Rising Disposable Income and Urbanization:

1. Growing disposable incomes, particularly in emerging economies, lead to increased spending on premium and healthy food products, including nuts.

2. Urbanization trends contribute to the demand for convenient and nutritious snacks, where nuts play a significant role.

Nut Products Market Opportunities [https://www.marketsandmarketsblog.com/nut-products-market-3.html]: Expanding application spectrum for nuts and derivatives

The robust growth and promising potential in plant-based dairy alternatives and meat analogs have created significant opportunities for nut product manufacturers. Key players such as Olam International and Barry Callebaut have already intensified their efforts in catering to these attractive end-use avenues for gaining a cutting-edge advantage in the foreseeable future. Apart from the food industry, non-food application sectors can also act as a potential revenue stream for companies - nut ingredients have applications in various industries such as cosmetics and pharmaceuticals. The cosmetics market comprises a diversified population, among which the aging population forms a significant segment.

By nut types, the hazelnuts segment is anticipated to acquire the largest market share in the market during the study period

Hazelnuts are a primary ingredient in the confectionery industry, prominently featured in chocolate production as well as in hazelnut spreads, pastes, and meals. Renowned for their high quality, these nuts are among the most expensive, available both unshelled and in processed forms. They are commonly diced, ground, or made into pastes for use in baked goods and ice creams. Turkey is the leading producer, contributing around 70% of the global hazelnut supply, with Europe consuming 80-85% of Turkey's output for confectionery purposes.

By application, the industrial food manufacturers segment is forecasted to dominate the nut products market during the forecast period

Nuts are used in the chocolate confectionery industry as they provide a crunchy texture, taste, and health benefits. Around one-third of confectioneries contain nut products such as almond flakes, walnut halves, or pecan pieces. Chocolate confections are working harder to innovate chocolates using nuts to enhance the sensory experience. Hazelnuts, walnuts, and almonds are the most popular nut inclusions. Almonds are popularly used in North America in the confectionery industry, while hazelnuts are popular in the European chocolate industry. Also, to meet specific consumer needs, such as gluten- or dairy-free, profiles by addition of flavored nut paste or butter to various formulations are being tapped by manufacturers.

The European region is projected to account for a major share in the nut products market during the forecast period

The European countries are Germany, France, Italy, the UK, Spain, Belgium, and Turkey. According to the Federal Association of the German Confectionery Industry (BDSI), the current trend in Germany is inclined toward healthy nuts and nut-fruit mixes. In Germany, nuts are majorly consumed as snacks and are considered vital ingredients in numerous traditional recipes, including cereals, marzipan, bakery items, and chocolates. The per capita consumption of nuts rose from 0.5 kg in 2014 to 1.8 kg in 2019. Additionally, a sizable population of immigrants and ethnic groups from Mediterranean nations reside in Germany. Their diets tend to be richer in dried fruits and nuts than the typical German diet.

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Key players in this market include Olam International (Singapore), Barry Callebaut (Switzerland), Blue Diamond Growers (US), Kerry Group (Ireland), Zentis GmbH & Co. KG. (Germany), Mount Franklin Foods (US), Mandelin, Inc (US), Besana (Italy), Bazzini (US), and Lubeca (Denmark).

Barry Callebaut is a leading manufacturer of chocolate and cocoa products, from sourcing and processing cocoa beans to producing the finest chocolates, including chocolate fillings, decorations, and compounds. The company offers products through three business segments: artisans & chefs, food & beverage manufacturers, and vending & beverages. Among these, the food & beverage manufacturers segment offers a variety of products, such as roasted nuts, caramelized nuts, nut fillings, and nut paste. La Morella Nuts (Spain) was acquired by Barry Callebaut in 2012 and offered specially formulated products for confections and plant-based proteins. The company is now expanding in the European and Asia Pacific regions.

Olam International is a leading food and agri-business company that supplies food ingredients, feed products, and fiber to customers worldwide. It operates in six major segments: food staples and packaged foods, edible nuts and spices, confectionery and beverage ingredients, industrial raw materials, infrastructure, and logistics. It offers almond ingredients under the edible nuts and spices segment. The company has attained a leading position in various businesses, such as cocoa, coffee, cotton, edible nuts, and spices. It is a key supplier of edible nuts and nut ingredients, producing and processing in all the major regions and distribution networks worldwide.

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