Tree Nuts Market to Expand Steadily at a CAGR of 8.63% During 2019 – 2024

Pune, India, May 2019, MRFR Press Release/- Market Research Future has Published A Cooked Research Report on the Global Tree Nuts Market. The Global Tree Nuts Market is Expected to Exhibit a CAGR 8.63% During the Forecast Period of 2019 to 2024.

Market Highlights

The global tree nuts market is estimated to be valued at USD 62,235 million by 2024 and is expected to register a CAGR of 8.63% during the forecast period. The almond type segment accounted for the largest market share. There are two varieties of almonds—sweet and bitter. The growing application of sweet almonds in the food industry is mainly driving the growth of the market. The use of sweet almond oil is increasing in cooking which is boosting market growth.   

Asia-Pacific was the largest market for tree nuts market in 2018 and the regional market is expected to maintain its dominance during the review period. North America held a significant market share and was the second-largest market for tree nuts in 2018. The market in the US is projected to exhibit a growth rate of 8.02% during the forecast period to be the largest country-level market. However, the Canadian market is projected to register the highest CAGR during the forecast period. The expanding product portfolios of key manufacturers with healthy ingredients such as tree nuts are a significant factor for the growth of the market in the region.  

Almonds, walnuts, cashews, and other tree nuts are rich sources of vitamins, minerals, and fiber and, hence, are used in various food & beverage applications to increase the nutritive value and the organoleptic properties of the end product. The growth of the bakery and confectionery industry is also boosting the sales of tree nuts across the globe. Moreover, the rising adoption of veganism is contributing to the growth of the market. However, the prevalence of nut allergies is expected to hinder market growth to an extent.  

Browse Full Report Details @ https://www.marketresearchfuture.com/reports/tree-nuts-market-2482

Key Players

Some of the key players in the global Tree Nuts Market are Olam International Ltd (Singapore), Diamond Foods, Inc. (US), Mariani Nut Company Inc. (US), Blue Diamond Growers (US), Select Harvests Limited (Australia), Waterford Nut Co. Inc. (US), Archer Daniels Midland Company (US), Tree Nuts International (India), Lone Tree Nut Company, Inc. (US), and Sun Valley Nut, LLC (US).

Segmental Analysis

The Global Tree Nuts Market has been segmented on the basis of product type, form, application, and region.

By product type, the market has been divided into cashew nuts, walnuts, almonds, pistachios, hazelnuts, chestnuts, Brazil nuts, and others. The almonds segment held the largest market share in 2018 owing to the widespread application of almonds in the food & beverage industry. However, the demand for pistachios is growing in snacks. Hence, the pistachios segment is projected to register the highest CAGR of 9.26% during the forecast period.

Based on form, the global tree nuts market has been classified as whole, split, and others. The whole segment accounted for the largest market share in 2018 owing to the high demand for tree nuts for direct consumption. During the forecast period, the whole segment is estimated to register the highest CAGR to reach USD 41,361.6 million by the end of 2024.

On the basis of application, the market has been segmented into direct consumption/culinary purpose, bakery & confectionery, breakfast & cereals, snacks, flavored drinks, butter & spreads, dairy products, and others. The direct consumption/culinary purpose segment accounted for the majority market share in 2018. The rising focus on health and wellness is driving the demand for tree nuts for culinary purposes. However, the bakery & confectionery segment is expected to register the highest CAGR during the forecast period owing to the increasing use of tree nuts as a flavoring ingredient in bakery products.

Regional Analysis

Geographically, the global tree nuts market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, Asia-Pacific dominated the market, accounting for the largest share of the market in 2018, and the regional market is expected to register the highest CAGR of 9.31%. The North American market accounted for the second-largest market share in 2018. The market in North America is estimated to reach USD 15,607.4 million by the end of 2024, with the US being the leading market.

Key Findings of the Study:

• The global tree nuts market is projected to reach USD 62,235.3 million by 2024 at an 63% CAGR during the review period of 2019 to 2024.


• Asia-Pacific accounted for the largest market share in 2018, with China being the major contributor to the growth of the regional market.


• The almonds segment is projected to dominate the global tree nuts market, by product type, during the forecast