2025 Nuts Market Outlook: Key Indicators Shaping Growth Through 2034

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What Will the Nuts Industry Market Size Be by 2025?
The market size of nuts has witnessed robust growth in previous years. The market which is projected to be worth $58.33 billion in 2024, will increase to $62.13 billion in 2025, with a compound annual growth rate (CAGR) of 6.5%. The historical growth is due to higher understanding of the health advantages of consuming nuts, increased requirement for plant-based protein, the growing trend of snack consumption, the shift in dietary preference towards natural and nutrient-rich food, and the appearance of alternatives based on nuts in different food products.

What's the Long-Term Growth Forecast for the Nuts Market Size Through 2029?
The market for nuts is predicted to experience robust growth in the upcoming years, enlarging to $79 billion in 2029 with a compound annual growth rate (CAGR) of 6.2%. Factors contributing to this anticipated growth during the forecasted period include the effects of climate change on nut production and distribution, a shift in consumer preference toward organically and sustainably sourced nuts, demographic changes and urbanization affecting nut consumption, the rising implementation of nut-based products in the food and drink industry, and the incorporation of nuts into functional foods and nutraceuticals. Key forecasts for the period include the rise of innovative nut snacks and trail mixes, the growing demand for premium and gourmet nut products, the introduction of fortified nut products with additional health benefits, the use of nuts in non-food sectors like cosmetics and personal care, and an increase in the use of nuts in plant-based meat substitutes and dairy alternatives.

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What Are the Key Growth Drivers Fueling the Nuts Market Expansion?
Advancements in the nuts market are being driven by the increased adoption of plant-based diets. This type of diet primarily revolves around plant-originated foods, encompassing fruits, vegetables, nuts, grains, and seeds, keeping animal product utilization to a minimum or eliminating it entirely. The surge in popularity surrounding plant-based diets can be tied back to amplified awareness around aspects of environmental sustainability, health benefits, and issues concerning animal welfare. A significant element contributing to this popularity of plant-based foods is nuts, which attribute to their versatile nature, high protein content, healthy fats, and vital nutrients. This makes them an appetizing and nutrient-rich choice for those opting for plant-based substitutes. For example, a report by the Plant Based Foods Association, a food and beverage organization based in the US, stated that in 2022, the plant-based food sector saw a sales growth of 6.6%, a rise from the previous year's 5.9%, accompanied by a 10% surge in average retail prices in May 2023. Hence, the growing preference for plant-based diets is spurring on the evolution of the nuts market.

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What Are the Key Trends Driving Nuts Market Growth?
Leading companies in the nuts market are shifting their focus towards creating revolutionary products such as flavored snack nuts to secure a competitive advantage in the industry. Flavored snack nuts are nuts that are enhanced, covered, or mixed with various flavorings to improve their taste and make them more appealing as a snack. For example, in April 2024, PLANTERS, a snack food company based in the US and a subsidiary of Hormel Foods Corporation, introduced PLANTERS Nut Duos Snacks. This product features unique pairings of two types of nuts and flavors, offering a varied and enticing snacking experience. Each option is specially designed for an optimal snacking experience, presenting two compatible flavors on two kinds of nuts-an ideal snack for all occasions. The three appealing variants include Buffalo Cashews and Ranch Almonds, Cocoa Cashews, and Espresso Hazelnuts, and Parmesan Cheese Cashews and Peppercorn Pistachios. This innovative product launch marked a notable progression in the nuts market, brought a new segment that meets changing consumer tastes and fortified the PLANTERS brand's top position.

How Is the Nuts Market Segmented?
The nuts market covered in this report is segmented -

1) By Products: Almonds, Peanuts, Cashew, Walnuts, Hazelnuts, Pistachios
2) By Distribution Channel: Retail Sales, Supermarkets Or Hypermarkets, Conventional Stores, Food And Drink Specialty Stores, Traditional Grocery Stores, Franchise Outlets, Online Retail
3) By Application: Snack Foods, Bakery And Confectionery, Cereals And Granola Bars, Nutritional And Health Foods, Cooking And Culinary Applications, Nut-Based Milk And Dairy Alternatives, Cosmetics And Personal Care, Industrial Use

Subsegments:
1) By Almonds: Raw Almonds, Roasted Almonds, Salted Almonds, Flavored Almonds, Sliced Almonds, Almond Butter, Almond Milk, Almond Flour, Blanched Almonds
2) By Peanuts: Raw Peanuts, Roasted Peanuts, Salted Peanuts, Peanut Butter, Peanut Flour, Dry-Roasted Peanuts, Flavored Peanuts, Peanut Oil
3) By Cashews: Raw Cashews, Roasted Cashews, Salted Cashews, Cashew Butter, Cashew Milk, Flavored Cashews, Cashew Pieces, Cashew Nuts In Shell
4) By Walnuts: Raw Walnuts, Roasted Walnuts, Salted Walnuts, Chopped Walnuts, Walnut Oil, Walnut Butter, Flavored Walnuts
5) By Hazelnuts: Raw Hazelnuts, Roasted Hazelnuts, Salted Hazelnuts, Hazelnut Butter, Hazelnut Milk, Flavored Hazelnuts, Ground Hazelnuts
6) By Pistachios: Raw Pistachios, Roasted Pistachios, Salted Pistachios, Pistachio Butter, Pistachio Oil, Flavored Pistachios, Shelled Pistachios, Pistachio Kernels

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Which Companies Are Leading the Charge in Nuts Market Innovation?
Major companies operating in the nuts market are Cargill Incorporated, Nestle S.A., Archer Daniels Midland Company, BASF SE, PepsiCo Inc., Olam International Ltd., Mondelez International, Kraft Heinz Company, Dupont danisco, The J.M. Smucker Company, Nutreco, Novozymes AS, Blue Diamond Growers, Chr. Hansen Holding AS, John B. Sanfilippo & Son Inc., Diamond Foods Inc., Hampton Farms Inc., Novus International Inc., Borges Agricultural & Industrial Nuts, Tropical Foods Company Inc., Nutiva, Mariani Nut Company, Tierra Farm Inc., Star Snacks, Hines Nut Company, Royal Nut Company, Waterford Nut Company, WeAreBio, Germack Pistachio Company

Which Regions Are Leading the Global Nuts Market in Revenue?
Europe was the largest region in the nuts market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nuts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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