Market Size of Nuts and Nutmeals Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 57.01 Billion |
| Market Size (2029) | USD 75.93 Billion |
| CAGR (2024 - 2029) | 5.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Nuts & Nutmeals Market Analysis
The Nuts and Nutmeals Market size is estimated at USD 57.01 billion in 2024, and is expected to reach USD 75.93 billion by 2029, growing at a CAGR of 5.90% during the forecast period (2024-2029).
The market is mainly driven by the growing awareness of the nuts health benefits as they are rich sources of fiber, protein, vitamins, antioxidants, and other essential minerals. They are also increasingly getting their popularity in the paleo diet. The market is also heavily driven by the growing vegan population worldwide as they are broadly considered a good alternative for fish and eggs for fulfilling protein, calcium, and vitamin B12 needs. In recent decades, almonds gained an excellent reputation for being a health nut, with their diabetic-friendly attributes, such as their comparatively low-fat content and healthy omega-3 fats. Market players have been introducing various flavored nuts with multiple tastes and flavors. For instance, in November 2022, Blue Diamond Almonds launched new limited-edition Snickerdoodle Flavored Almonds and Blue Diamond Peppermint Cocoa Flavored Almonds.
Due to the trend of healthy snacking, consumers are opting for on-the-go snacks. Flavored nuts and nutmeals are the best meal alternatives because of their health benefits. Nuts are a good source of saturated fats and help support a healthy heart and brain. Consumers are opting for vegan and plant-based food these days. Due to this, the demand for nuts and nut meals is increasing. Market players are also introducing nut milk, like almond milk, as an alternative to whole dairy milk. Innovation and the requirement for healthy convenience food are driving the market. In May 2022, VKC Nuts, India's leading fully integrated farm-to-fork Nuts & Dried Fruits company, launched a range of pasteurized nuts and dried fruits under its brand Nutraj.
Nuts & Nutmeals Industry Segmentation
The nut is a fruit made of a hard shell with an edible seed inside. Nutmeal is nothing but a product made by grinding different nuts. The market studied is segmented based on category, type, distribution channel, and geography. The nuts and the nutmeal market is segmented by category into organic and conventional. By type, the market is segmented into almonds, peanuts, hazelnuts, walnuts, cashew, pistachios, and other types of nuts. By distribution channel, the market is segmented into hypermarkets/supermarkets, convenience stores, online channels, and other distribution channels. The market is segmented by geography into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).
| Category | |
| Organic | |
| Conventional |
| Type | |
| Almonds | |
| Peanuts | |
| Hazelnuts | |
| Walnuts | |
| Cashew | |
| Pistachios | |
| Other Types |
| Distribution Channel | |
| Hypermarkets/Supermarkets | |
| Online Retail Stores | |
| Convenience Stores | |
| Other Distribution Channels |
| Geography | |||||||||
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Nuts and Nutmeals Market Size Summary
The nuts and nutmeals market is experiencing significant growth, driven by increasing consumer awareness of the health benefits associated with nuts, such as their high content of fiber, protein, vitamins, and antioxidants. This market expansion is further fueled by the rising popularity of vegan and plant-based diets, where nuts serve as a valuable alternative to traditional protein sources like fish and eggs. The trend towards healthy snacking and on-the-go meal options has also contributed to the market's growth, with flavored nuts and nutmeals gaining traction as convenient and nutritious choices. Innovations in product offerings, such as nut milk alternatives and new flavored nut varieties, are enhancing consumer appeal and driving demand.
In the United States, the consumption of nuts is bolstered by a growing emphasis on healthier eating habits and the benefits of nuts in combating cardiovascular diseases. The country's leading production of almonds, pistachios, and walnuts supports a robust market for nuts and nutmeals, with companies like Blue Diamond Almonds and Daily Crunch introducing new products to cater to consumer preferences. Global players in the market, including Bob's Red Mill, Royal Nut Company, and Sun Organic Farm, are expanding their presence through strategic partnerships and product innovations. The clean-label trend and the availability of organic and better-for-you nut products are further propelling market growth, as consumers increasingly seek high-quality, health-conscious options.
Nuts and Nutmeals Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Category
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2.1.1 Organic
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2.1.2 Conventional
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2.2 Type
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2.2.1 Almonds
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2.2.2 Peanuts
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2.2.3 Hazelnuts
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2.2.4 Walnuts
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2.2.5 Cashew
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2.2.6 Pistachios
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2.2.7 Other Types
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2.3 Distribution Channel
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2.3.1 Hypermarkets/Supermarkets
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2.3.2 Online Retail Stores
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2.3.3 Convenience Stores
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2.3.4 Other Distribution Channels
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.1.4 Rest of North America
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2.4.2 Europe
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2.4.2.1 United Kingdom
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2.4.2.2 Germany
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2.4.2.3 Spain
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2.4.2.4 France
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2.4.2.5 Italy
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2.4.2.6 Russia
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2.4.2.7 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 Rest of Asia-Pacific
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2.4.4 South America
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2.4.4.1 Brazil
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2.4.4.2 Argentina
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2.4.4.3 Rest of South America
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2.4.5 Middle-East and Africa
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2.4.5.1 United Arab Emirates
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2.4.5.2 South Africa
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2.4.5.3 Rest of Middle-East and Africa
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Nuts and Nutmeals Market Size FAQs
How big is the Nuts and Nutmeals Market?
The Nuts and Nutmeals Market size is expected to reach USD 57.01 billion in 2024 and grow at a CAGR of 5.90% to reach USD 75.93 billion by 2029.
What is the current Nuts and Nutmeals Market size?
In 2024, the Nuts and Nutmeals Market size is expected to reach USD 57.01 billion.
