Nut Market Size (2024 - 2029)

Nut Market Analysis

The Global Nut Market is projected to register a CAGR of 6.46% during the forecast period, 2022-2027.

In the wake of COVID-19, a lockdown was announced that disrupted transportation and caused a shortage of nuts and their products for a short period, as well as affecting the export and import of nuts worldwide.Nevertheless, the consumption of almonds, peanuts, cashews, and other nuts has been high owing to the perceived health benefits they provide, such as improving immunity. As a result, the market is predicted to grow at a healthy rate in the coming years. Also, the overall market is driven considerably, primarily by European and Asia Pacific consumers, owing to their higher purchasing power, thus, augmenting the value of the market studied. Further, manufacturers are developing new innovative flavors for nuts, along with the continuously changing lifestyles such as the fast-paced lifestyle of today, are contributing to significant growth in the market.

In the short term, the expanding food-processing sector and massive demand for ready-to-eat or convenience food products among consumers are anticipated to drive the market studied. Moreover, there is a growing awareness among consumers about the importance of maintaining a healthy lifestyle. Thus they are adopting healthy eating habits such as eating nuts, drinking more water, and eating fruits. As the World Health Organization (WHO) advises that nuts should be included in a healthy diet for adults, consumers are beginning to recognize the importance of this functional food in maintaining good health. This factor is expected to fuel the demand for nuts globally.

Additionally, increasing population growth and urbanization around the world, coupled with an increase in disposable income, have contributed to increased consumption of nuts, factors which are are anticipated to drive the growth of the market, over the coming years.

Nut Industry Segmentation

Nuts are fruits that consist of a shell protecting a kernel that is generally edible. Nuts are a rich source of vitamins, protein, antioxidants, fiber, and other essential minerals, offering health benefits such as enhanced energy, and stamina, providing better digestion and overall health. Nuts can be easily transported at room temperature, stored for a long period of time, and consumed with minimum preparation. The Global Nut market (henceforth referred to as the market studied) is segmented by type, category, coating type, form, end-user, distribution channel, and geography. By type, the market is segmented into almonds, brazil nuts, cashews, chestnuts, hazelnuts, hickory nuts, macadamia nuts, pecans, pine nuts, pistachios, walnuts, peanuts, and others. By category, the market is bifurcated into conventional and organic. By coating type, the market is bifurcated into coated and uncoated. By form, the market is segmented into whole, diced/cut, roasted, and granular. By End-user, the market is segmented into household/retail and food service sector. Based on the distribution channel, the market studied is segmented into offline and online channels. It provides an analysis of emerging and established economies across the world, comprising North America, Europe, South America, Asia-Pacific, Middle East, and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).