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Global Nut Ingredients Market: Demand for Ready-to-eat Snacks on the Rise, observes TMR
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The global nut ingredients market is expected to expand at a CAGR of 5.3% from 2015 to 2017. The primary factor attributed to the growth rate of this market is the vastly increasing demand for ready-to-eat foods across key regions. Nuts are highly used in these type of foods, along with snacks and confectionaries and each of these categories are witnessing a high demand in urban areas from top market regions. The increasingly hectic urban lifestyle amid a growing awareness of consuming nuts plays a leading role in the growth of the global nut ingredients market.
The global nut ingredients market is receiving a large volume of demand due to the increasing health consciousness amongst consumers, a trend likely to continue over the coming years. Manufacturers are also focusing on this trend, boosting their marketing strategies towards incorporating nuts as a means of healthier living, thereby creating a better scope of growth.
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From a regional perspective, the large percentage of the demand experienced by the global nut ingredients market has been generated by North America till now. North America and Europe are currently the leading entities in the global nut ingredients market in terms of production as well as consumption rates. Meanwhile, the demand for nuts and nut ingredients is skyrocketing in Asia Pacific, primarily through India and China. This region is showing a swift growth rate in economic and industrial state, allowing more people to afford nuts and nut ingredients on a more regular scale. This region is also showing a rise in the demand for exotic nuts, further creating interest among the globally prominent players.
The leading players in the global nut ingredients market to date, have included Kanegrade Limited, Archer Daniels Midland Company, Bredabest, Olam International, Terri Lynn, Inc., H.B.S. Foods Ltd., CACHE CREEK FOODS, ROYAL NUT COMPANY, Helios Ingredients, Bergin Friut and Nut Company, Wenders, and The Hershey Company.
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