Market Trends of Nuts and Seeds Industry
Increasing Healthy Snack Demand is Fostering the Nuts and Seeds Market
As the millennial population becomes health conscious, their consumption pattern also increases the demand for nutrient-rich foods. The manufacturers have been developing products that can satiate the market demand for nut- and seed-based products, especially among body-conscious consumers. The increasing consumer inclination towards value-added food products such as lotus seeds in smoothie bowls further boosts the demand for the nuts and seeds market. The popularity of 'super' ingredients has increased significantly over the recent past as consumers are more inclined toward natural and wholesome ingredients.
These products have high nutritional and functional value, and their chemical composition is rich in PUFAs (Polyunsaturated fatty acids), mainly omega-3, protein, dietary fiber, and bioactive compounds. According to the International Nut & Dried Fruit Council, in 2021/2022, the production of pistachios amounted to about 795.3 thousand metric tons worldwide. The prominent players are focused on research and development for new product launches that can address the growing consumer demand. The increasing adoption of nuts and seeds by processed food manufacturers as a high-value and healthy food inclusion ingredient further boosts the market.
Asia-Pacific is the Fastest Growing Region
The importance of cashew nuts, peanuts, and almonds in several cuisines has played a part in driving market demand in the region. The importance of nuts and seeds for patients suffering from or at risk of cardiovascular diseases has driven market demand. The American Heart Association recommends including omega-3-rich foods and oils in daily diets to prevent heart disease. According to UN Comtrade, in 2021, China imported around 25.28 million U.S. dollars worth of chia seeds from the rest of the world. They form an imperative component of several spices and condiments.
Moreover, favorable climatic conditions, increased demand for seeds from the neighboring countries, and the adaptation of technology to meet the demand are some of the factors driving the seed market in the region. According to the Ministry of Agriculture and Farmers Welfare (India), the index number of guar seed production across India was 97.2 in 2021. The dominant players in the market are strengthening their product portfolio to meet the farmers' demand and concerns, leading to the growth of the nuts and seeds market in the region.
