Press release
Market Segmentation, Industry Trends, and Competitive Landscape in the Nut Products Sector
Nut Products Market Size
Strong Growth Outlook for the Nut Products Market Size Through 2030
The nut products market is projected to grow significantly, reaching $6.72 billion by 2030 with a compound annual growth rate (CAGR) of 8.3%. This upward trend is fueled by several factors such as a growing demand for clean-label snacks, an expansion in premium nut product varieties, and a heightened focus on functional snacking options. Additionally, the rise of e-commerce channels and increasing product customization are contributing to the market's robust growth. Key trends expected in this period include a surge in convenient and healthy snack options, rising popularity of flavored and value-added nuts, a shift toward organic nut products, broader applications of nut-based ingredients, and an increased emphasis on innovative packaging solutions.
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Dominant Companies in the Nut Products Industry
Leading enterprises in the nut products market include notable names such as Olam International Limited, Barry Callebaut AG, Blue Diamond Growers, Kerry Group PLC, Zentis GmbH & Co. KG, Mount Franklin Foods LLC, Mandelin Inc., Besana Group S.p.A., Lubeca GmbH, Puratos Group NV, Almendras Llopis S.A.U., Kanegrade Limited, Moll Marzipan GmbH, Kondima Engelhardt GmbH & Co. KG, Treehouse Almonds, Royal Nut Company, CSM Bakery Solutions LLC, Waterford Nut Company, Tierra Farm Inc., Hormel Foods Corporation, Honeyville Inc., Braden Farms Inc., Sun Organic Farms, HBS Natural Choice LLC, South Valley Farms, Ludlow Nut Co Ltd., Kar Nut Products Co., Lotte Corporation, Dori Alimentos S.A., and Georgia Nut Company.
In a significant industry move, Flagstone Foods, Inc., a US-based snack producer, acquired Emerald Nuts from Campbell Soup Company in May 2023. This acquisition aims to broaden Flagstone's snack product offerings, with Emerald Nuts being a prominent US manufacturer of nut products.
Emerging Trends Shaping the Nut Products Market
A key strategy among market leaders is the introduction of innovative packaging such as little snack packs, which are compact, pre-portioned packages designed for on-the-go consumption.
For example, in January 2023, India-based ProV Foods Pvt Ltd. launched ProV Minis-small, flavored snack packs containing dried fruits, nuts, and seeds. Specifically developed for the Indian market, these minis offer a convenient and wholesome option for quick nutrition, especially for busy mornings or packed lunches for children. This innovation highlights the growing focus on portable, healthy snacking solutions to meet consumer demands.
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Detailed Segmentation of the Global Nut Products Market
This report breaks down the nut products market into several important categories:
1) Product Type: Nut Butter, Nut Paste or Marzipan Paste or Persipan Paste, Nut Fillings With Cocoa, Nut Fillings Without Cocoa, Caramelized Nuts, Nut Flour
2) Nut Type: Almonds, Hazelnuts, Walnuts, Cashews, Peanuts, Pistachios
3) Form: Roasted Form, Unroasted Form
4) Category: Organic, Conventional
5) Application: Industrial Food Manufacturers, Chocolate Confectionery Products, Bakery Products, Ice Cream and Frozen Desserts, Cereals and Snack Bars, Beverages, Savory Products, Foodservice and Bakeries, Bakery Shops
Further subcategories include:
- Nut Butter types such as Almond Butter, Cashew Butter, Walnut Butter, Hazelnut Butter
- Nut Paste varieties including Marzipan (Almond Paste), Persipan (Apricot Kernel Paste), and other nut pastes
- Nut Fillings With Cocoa like Hazelnut Cocoa Filling and Chocolate Almond Filling
- Nut Fillings Without Cocoa including Nut Cream Fillings and Fruit And Nut Fillings
- Caramelized Nuts such as Caramelized Almonds, Cashews, and Walnuts
- Nut Flour types including Almond Flour, Cashew Flour, Hazelnut Flour, and Walnut Flour
This comprehensive segmentation highlights the diverse product offerings and applications propelling the nut products market forward on a global scale.
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