Global Nut Meals Market Overview:
Nut Meals Market Size was estimated at 28.87 (USD Billion) in 2022. The Nut Meals Market Industry is expected to grow from 30.96(USD Billion) in 2023 to 58.1 (USD Billion) by 2032. The Nut Meals Market CAGR (growth rate) is expected to be around 7.25% during the forecast period (2024 - 2032).
Key Nut Meals Market Trends Highlighted
The market demand for nut meals is steadily inclining owing to the increase in health awareness among consumers. Chief contributors to the growth of the market are the increasing interest in plant-based nutrition and the better utilization of nut meals in food as a source of protein. There is also an increasing market potential due to the growing demand for ready-to-eat meals and the advent of online shopping. Therefore, the increasing demand for environmentally friendly practices has drawn peanut butter from organic and environmentally friendly nuts. The market is characterized by enhanced product development, which has witnessed the emergence of nut meal-based meat substitutes among other plant food products. In addition to this, the market growth is spurred by the increasing use of nut meals in the food sector, especially in baked products, confectionaries and snacks.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Nut Meals Market Drivers
Growing Health Consciousness
As consumers become more aware of the health benefits associated with nut meals, demand for these products is expected to rise. Nut meals are a good source of protein, fiber, and healthy fats, which are all essential for a healthy diet. They are also low in carbohydrates and calories, making them a good choice for people who are trying to lose weight or manage their blood sugar levels. The growing popularity of plant-based diets is also driving demand for nut meals.Nut meals are versatile ingredients that can be used in a variety of dishes, making them a good option for people who are looking to reduce their meat consumption. The Nut Meals Market Industry is expected to grow significantly in the coming years, driven by the increasing demand for healthy and plant-based foods.
Rising Disposable Income
With increased disposable income, consumers are increasingly purchasing premium food products, such as nut meals. Nut meals are generally considered to be a more luxurious and healthier alternative to regular meat products, and consumers who can afford the extra cost of such products would certainly buy them to stay healthy and fit.
Increasing Urbanization
As the world's population becomes increasingly urbanized, the demand for convenience foods is rising. Nut meals are a convenient and easy-to-prepare food option, making them a good choice for busy urban consumers.
Nut Meals Market Segment Insights:
Nut Meals Market Type Insights
The type segment of the Nut Meals Market is divided into Almond Meal, Coconut Meal, Cashew Meal, Oat Meal, and Flax Meal. Almond Meal was the leading type segment in 2023 and is anticipated to register the fastest growth all through the forecast period. The increasing demand for almond meals can be attributed to the adoption of healthier options and their richness in nutritional content. In addition to this, they are versatile and their increased adoption by consumers to gluten-free and a plant-based diet will attribute to the growth of this segment.Coconut Meal is also adopting a higher acceptance rate by more consumers due to their increased fiber content and they are said to arrive packed with endless health benefits. Cashew Meal is also being adopted by increasing numbers of consumers since it arrives with proteins and unsaturated fats. Oat Meal has been proven to be healthy through its beta-glucan contents, which are ideal for treating heart diseases. Flax Meal is yet another fiber-rich meal that is increasing its consumer rate all over the world. The increasing demand for food produced in nut meals will be a major growth driver for the Nut Meals Market.The growing preference for almond meals in almost all applications where wheat flour was being used has stimulated a high rate of demand over recent years. Increased cases of food allergies, intolerances, and celiac diseases are also expected to contribute to the growth of this market. Consumers’ awareness of the endless health benefits associated with nuts, such as a boost in heart health functioning, low cholesterol levels, better blood sugar levels, low risk of gaining excess weight, and a lower extent of obesity, will also work in the expansion of this market.The Nut Meals Market is highly competitive and is composed of a handful of international and local market players. Key players are also launching new products while others are taking charge of expansion for head-on competition. The market growth is predicted to grow rapidly in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Nut Meals Market Form Insights
The Nut Meals Market is segmented into powder, flakes, and granules according to form. In 2023, the powder segment accounted for the highest market share, representing approximately 45% of the Nut Meals Market revenue. The powder form of nut meals is easy to handle, store, and transport, which results in more usage. The powder form of nut meals is used in a wide variety of processed foods, including bakery products, confectionery, snacks, and nutritional supplements. The flakes nut meals segment is estimated to grow at a 6.5% CAGR over the forecast period, owing to increasing usage in breakfast cereals and snacks.The granules segment is on the rise due to applications in the pet food and animal feed industries.
Nut Meals Market Function Insights
The Function segment is a crucial aspect of the Nut Meals Market, influencing the market growth and driving innovation. In 2023, the Binder sub-segment held a prominent market share, valued at USD 10.2 billion and is projected to reach USD 18.9 billion by 2032, exhibiting a CAGR of 7.6%. The Thickener sub-segment closely follows, with an estimated market value of USD 9.8 billion in 2023 and a projected CAGR of 7.5%, reaching USD 18.1 billion by 2032. The Emulsifier sub-segment is expected to witness a steady growth rate, with a market value of USD 7.5 billion in 2023 and a projected value of USD 13.8 billion by 2032, reflecting a CAGR of 7.1%.The Stabilizer sub-segment is anticipated to grow at a CAGR of 7.0%, with a market value of USD 6.9 billion in 2023 and a projected value of USD 12.7 billion by 2032. Finally, the Filler sub-segment is expected to reach USD 10.6 billion by 2032, growing at a CAGR of 7.3% from its 2023 market value of USD 7.3 billion. These sub-segments collectively contribute to the overall Nut Meals Market revenue, providing a comprehensive understanding of the market segmentation and its dynamics.
Nut Meals Market End Use Insights
The Nut Meals Market is segmented by End Use into Dairy Alternatives, Meat Alternatives, Bakery Products, Confectionery Products, and Health Supplements. Among these segments, Dairy Alternatives held the largest market share in 2023, accounting for approximately 35% of the Nut Meals Market revenue. The growth of this segment can be attributed to the rising demand for plant-based milk, cheese, and yogurt. Meat Alternatives is another significant segment, with a market share of around 28% in 2023. The increasing popularity of vegan and vegetarian diets is driving the demand for meat alternatives made from nuts.Bakery Products and Confectionery Products are also witnessing steady growth, with market shares of 18% and 12%, respectively. Health Supplements is the smallest segment, with a market share of approximately 7% in 2023. However, this segment is expected to grow at a faster rate in the coming years, due to the rising awareness about the health benefits of nuts.
Nut Meals Market Organic/Conventional Insights
The Organic/Conventional segment of the Nut Meals Market is anticipated to have substantial growth in the upcoming years. Organic nut meals are gaining popularity as consumers become more health-conscious and prefer natural and minimally processed food products. The rising demand for plant-based diets and the increasing awareness of the health benefits of nuts are driving the growth of the organic nut meals segment. Conventional nut meals, on the other hand, continue to hold a significant share of the market due to their cost-effectiveness and wide availability.However, the increasing consumer preference for organic products is expected to gradually shift the market dynamics in favor of organic nut meals.
Nut Meals Market Regional Insights
The Nut Meals Market revenue is anticipated to witness substantial growth in the forthcoming years. Regionally, the market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America held the largest market share in 2023 and is projected to maintain its dominance throughout the forecast period. This growth can be attributed to the increasing demand for plant-based foods, coupled with the rising popularity of vegan and vegetarian diets in the region. Europe is another significant market for nut meals, primarily driven by the growing health consciousness among consumers.The APAC region is expected to register the highest growth rate during the forecast period, owing to the increasing disposable income and changing dietary preferences in countries like China and India. South America and MEA are also expected to contribute to the overall market growth, albeit at a slower pace compared to other regions.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Nut Meals Market Key Players And Competitive Insights:
Major players in the Nut Meals Market industry are constantly striving to gain a competitive edge by investing in research and development, expanding their product portfolios, and strengthening their distribution networks. Leading Nut Meals Market players are focusing on developing innovative products that cater to the evolving needs of consumers and expanding their geographical reach to tap into new markets. The Nut Meals Market development is being driven by increasing consumer awareness about the health benefits of nut meals, rising disposable income, and changing dietary habits. The competitive landscape of the Nut Meals Market is expected to remain dynamic, with new players entering the market and existing players expanding their product offerings.Archer Daniels Midland Company (ADM) is one of the leading Nut Meals Market players globally. The company has a strong presence in the North American and European markets and is expanding its operations in Asia-Pacific. ADM offers a wide range of nut meals, including almond meal, peanut meal, and hazelnut meal. The company's products are used in a variety of applications, including food and beverage manufacturing, pet food, and animal feed. ADM has a strong focus on sustainability and is committed to reducing its environmental impact.Bunge Limited is another major player in the Nut Meals Market. The company has a global presence and offers a wide range of nut meals, including soybean meal, rapeseed meal, and sunflower meal. Bunge has a strong focus on quality and food safety and is committed to providing its customers with high-quality products. The company is also investing in research and development to develop new products and improve its production processes.
Key Companies in the Nut Meals Market Include:
-
ADM
-
Cargill
-
Batory Foods
-
The Hain Celestial Group Inc
-
The Green Organic Dutchman Holdings Ltd
-
CHS Inc
-
Select Harvest
-
DuBois Agrinovation
-
Ingredion Incorporated
-
AGT Food and Ingredients Inc
-
Blue Diamond Growers
-
California Walnut Board
-
Kerry Group plc
-
SunOpta Inc
-
Diamond Foods Inc
Nut Meals Market Industry Developments
The Nut Meals Market is projected to reach USD 58.1 billion by 2032, exhibiting a CAGR of 7.25% from 2024 to 2032. The increasing demand for plant-based protein, rising health consciousness, and growing applications in various food industries are driving market growth. Asia-Pacific is the largest regional market, with China and India being major contributors. Key industry developments include strategic partnerships, product innovations, and sustainability initiatives. Recent news includes the launch of new nut meal products by major players such as Olam International and Archer Daniels Midland. The market is expected to witness continued growth in the coming years, driven by increasing consumer preference for healthier and sustainable food options.
Nut Meals Market Segmentation Insights
-
Nut Meals Market Type Outlook
-
Almond Meal
-
Coconut Meal
-
Cashew Meal
-
Oat Meal
-
Flax Meal
-
Nut Meals Market Form Outlook
-
Nut Meals Market Function Outlook
-
Binder
-
Thickener
-
Emulsifier
-
Stabilizer
-
Filler
-
Nut Meals Market End Use Outlook
-
Dairy Alternatives
-
Meat Alternatives
-
Bakery Products
-
Confectionery Products
-
Health Supplements
-
Nut Meals Market Organic/Conventional Outlook
-
Nut Meals Market Regional Outlook
-
North America
-
Europe
-
South America
-
Asia Pacific
-
Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
28.87(USD Billion) |
| Market Size 2023 |
30.96(USD Billion) |
| Market Size 2032 |
58.1(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
7.25% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
ADM, Cargill, Batory Foods, The Hain Celestial Group Inc, The Green Organic Dutchman Holdings Ltd, CHS Inc, Select Harvest, DuBois Agrinovation, Ingredion Incorporated, AGT Food and Ingredients Inc, Blue Diamond Growers, California Walnut Board, Kerry Group plc, SunOpta Inc, Diamond Foods Inc |
| Segments Covered |
Type, Form, Function, End Use, Organic/Conventional, Regional |
| Key Market Opportunities |
1 Personalized Nutrition rising popularity of Functionalized Nut Meals2 Increased Health Consciousness Rise of Vegan and Plant diets3 Nut MealBased Snacks Surge in Demand for Healthy and Convenient Foods4 Growing Bakery Industry Nut Meals as Nutritious and Functional Ingredients |
| Key Market Dynamics |
Rising demand for plant-based protein Increasing health consciousness Growing adoption in processed food industry Technological advancements in processing techniques Favorable government regulations |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Nut Meals Market is expected to reach a valuation of USD 58.1 billion by 2032.
The Nut Meals Market is projected to grow at a CAGR of 7.25% from 2024 to 2032.
North America held the largest market share in the Nut Meals Market in 2023.
Nut Meals are primarily used in bakery and confectionery products, dairy alternatives, and meat extenders.
Some of the key competitors in the Nut Meals Market include The Hain Celestial Group, Inc., Blue Diamond Growers, and Olam International Limited.
Rising demand for plant-based diets, increasing awareness of the health benefits of nuts, and growing applications in various food products are driving the growth of the Nut Meals Market.
Fluctuating raw material prices, competition from other plant-based ingredients, and stringent regulations can pose challenges to the Nut Meals Market.
Innovation in flavor and texture, increasing use in functional foods, and growing demand for sustainable sourcing are emerging trends in the Nut Meals Market.
The Nut Meals Market is expected to continue its positive growth trajectory over the next five years, driven by rising health consciousness and increasing demand for plant-based food products.
