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    Tree Nuts Market

    ID: MRFR/F-B & N/1844-CR
    128 Pages
    Harshita Gorade
    April 2024

    Tree Nuts Market Research Report Information by Product Type (Cashew Nuts, Walnuts, Almonds, Pistachios, Hazelnuts, Chestnuts, Brazilnuts, Macadamia Nuts, Others), by Form (Whole, Splits, Others), By Application (Direct Consumption/Culinary Purpose, Bakery & Confectionery, Breakfast Cereals, Snacks, Flavored drinks, Butter & Spreads, Diary Products, and Others), By Distribution Channel (B2B, and B2C), And By Region (North America, Europe, Asia-Pacific, Rest of World) - Forecast Till 2032

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    Tree Nuts Market Research Report—Global Forecast till 2032 Infographic
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    Tree Nuts Market Summary

    As per Market Research Future Analysis, the Global Tree Nuts Market was valued at USD 53.212 Billion in 2023 and is projected to reach USD 94.655 Billion by 2032, growing at a CAGR of 6.57% from 2024 to 2032. The growth is driven by increasing consumer demand for healthy foods, the rise of veganism, and the application of tree nuts in various food products. However, the prevalence of nut allergies poses a challenge to market expansion. The market is significantly influenced by changing consumer behavior towards nutritious snacks, with almonds leading the market share at 28.18% in 2022. The Asia-Pacific region is expected to witness the highest growth rate of 7.83% during the forecast period, driven by urbanization and rising disposable incomes.

    Key Market Trends & Highlights

    Key trends shaping the Tree Nuts Market include consumer preferences for nutritious snacks and innovative product offerings.

    • Almonds accounted for 28.18% of the market share in 2022, with a projected CAGR of 7.68%.
    • The whole nuts segment held 69.85% of the market share in 2022, expected to grow at a CAGR of 7.35%.
    • The Bakery & Confectionery segment represented 30.21% of the market share in 2022, with a projected CAGR of 8.02%.
    • The Asia-Pacific region is anticipated to grow at a CAGR of 7.83% during the forecast period.

    Market Size & Forecast

    2023 Market Size USD 53.212 Billion
    2024 Market Size USD 56.88 Billion
    2032 Market Size USD 94.655 Billion
    CAGR (2024-2032) 6.57%

    Major Players

    Key players in the Tree Nuts market include Olam International Ltd., Diamond Foods Inc., Mariani Nut Company, Inc., Blue Diamond Growers, Select Harvests Limited, and Archer Daniels Midland Co.

    Tree Nuts Market Trends

      • Consumers Preference for Highly Nutritive Nut Snacks

    The Global Tree Nuts Market appears poised for robust growth, driven by increasing consumer demand for healthy snacks and the rising popularity of plant-based diets.

    United States Department of Agriculture (USDA)

    Tree Nuts Market Drivers

    Market Growth Projections

    The Global Global Tree Nuts Market Industry is poised for substantial growth, with projections indicating a market value of 56.9 USD Billion in 2024 and an anticipated increase to 114.6 USD Billion by 2035. This growth trajectory suggests a robust compound annual growth rate (CAGR) of 6.57% from 2025 to 2035. Such figures reflect the increasing consumer preference for tree nuts, driven by health trends, product diversification, and expanding applications in the food industry. The market's expansion is likely to attract investments and innovations, further enhancing its potential in the global food sector.

    Rising Health Consciousness

    The Global Global Tree Nuts Market Industry is experiencing a surge in demand driven by increasing health consciousness among consumers. Tree nuts are recognized for their nutritional benefits, including high levels of healthy fats, protein, and essential vitamins. This trend is particularly evident as consumers gravitate towards plant-based diets and seek healthier snack alternatives. The market's value is projected to reach 56.9 USD Billion in 2024, reflecting a growing preference for natural and nutritious food options. As awareness of the health benefits of tree nuts continues to spread, the industry is likely to see sustained growth, appealing to health-focused demographics.

    Expansion of Food Applications

    The versatility of tree nuts in various food applications is a significant driver for the Global Global Tree Nuts Market Industry. Nuts are increasingly incorporated into a wide range of products, from baked goods to dairy alternatives and snack foods. This expansion is fueled by the food industry's innovation, as manufacturers explore new ways to enhance flavor and texture using tree nuts. For instance, almond milk and cashew cheese have gained popularity as dairy substitutes, catering to vegan and lactose-intolerant consumers. This diversification in product offerings is expected to contribute to the market's growth, with projections indicating a rise to 114.6 USD Billion by 2035.

    Increased Export Opportunities

    The Global Global Tree Nuts Market Industry is witnessing increased export opportunities, particularly for countries with favorable climates for nut cultivation. Regions such as California for almonds and Australia for macadamias are capitalizing on their agricultural advantages to meet global demand. The expansion of trade agreements and reduced tariffs has facilitated access to international markets, allowing producers to reach a broader consumer base. This trend is likely to enhance the industry's growth, as countries aim to boost their export revenues. As the global appetite for tree nuts continues to rise, the potential for increased exports could significantly impact market dynamics.

    Growing Demand for Plant-Based Products

    The Global Global Tree Nuts Market Industry is benefiting from the rising demand for plant-based products. As consumers increasingly adopt vegetarian and vegan lifestyles, tree nuts serve as a crucial source of protein and essential nutrients. This shift is reflected in the growing popularity of nut-based snacks and dairy alternatives, which are perceived as healthier options compared to traditional animal-based products. The market's growth trajectory, with a projected CAGR of 6.57% from 2025 to 2035, suggests that the demand for plant-based products will continue to drive the consumption of tree nuts, further solidifying their position in the global food landscape.

    Technological Advancements in Cultivation

    Technological advancements in cultivation practices are playing a pivotal role in the Global Global Tree Nuts Market Industry. Innovations such as precision agriculture and improved irrigation techniques are enhancing yield and quality of tree nuts. These advancements enable farmers to optimize resource use and reduce waste, ultimately leading to more sustainable production methods. As consumers become more environmentally conscious, the demand for sustainably sourced tree nuts is likely to increase. This trend not only supports the industry's growth but also aligns with global sustainability goals, potentially attracting a new segment of eco-conscious consumers.

    Market Segment Insights

    Segment Insights

    Tree Nuts Product Type Insights

    The Tree Nuts Market segmentation, based on product type, includes Cashew Nuts, Walnuts, Almonds, Pistachios, Hazelnuts, Chestnuts, Brazil Nuts, Macadamia Nuts, and others. The Almonds segment accounted for the largest market share of 28.18% in 2022 and is likely to register a CAGR of 7.68% during the projected period. The almond tree is native to South-Western Asia and is popular for its edible seed. The US is the largest producer of almonds in the world. Almonds thrive in a climate that has mild, wet winters and hot, dry summers.

    It is a versatile tree nut and is available in various forms such as whole, blanched, slivered, flaked, and ground. Almonds are packed with vitamins, minerals, antioxidants, and phytochemicals beneficial for health. There are mainly two varieties of almonds, sweet and bitter. Sweet almonds are edible and used in cooking or as a source of oil or meal whereas, the oil of bitter almonds is used in manufacturing flavorings and extracts for foods and liqueurs after the removal of prussic acid.

    Figure 1: Tree Nuts Market, by product type, 2022 & 2030 (USD Million)

    Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

    Tree Nuts Form Insights

    The Tree Nuts Market segmentation, based on form, includes Whole, Splits, Others. The whole segment accounted for the largest market share of 69.8% in 2022. Most tree nuts including almonds, cashews, and walnuts, are consumed whole. The high demand for whole tree nuts can be attributed to their widespread consumption directly or for culinary purposes. Tree nuts are also consumed as snacks, wherein the whole form is marketed with innovative flavors. The whole segment accounted for the largest share of 69.85% in 2022 and is projected to exhibit the highest CAGR of 7.35% during the forecast period.

    Tree Nuts Application Insights

    The Tree Nuts Market segmentation, based on application, includes Direct Consumption/Culinary Purpose, Bakery & Confectionery, Breakfast Cereals, Snacks, Flavored Drinks, Butter & Spreads, Dairy Products, and others. The Bakery & Confectionery segment held the majority share in 2022 with respect to the tree nuts industry revenue. Tree nuts find widespread application in the bakery & confectionery segment. They are used in the form of flour, chunks, split, or whole. Tree nuts are used as an active ingredient or as toppings for bakery products such as cakes, pastries, and cookies.

    The rising demand for meal replacement bars such as energy, snacks, and yoga bars has influenced the demand for tree nuts in the confectionery segment. The growth of the bakery and confectionery industry is driving the demand for tree nuts in this segment. The bakery & confectionery segment accounted for the largest market share of 30.21% in 2022 and is projected to register the highest CAGR of 8.02% during the forecast period.

    Figure 2: Tree Nuts Market, by Application, 2022 & 2030 (USD Million)

    Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

    Tree Nuts Distribution Channel Insights

    The Tree Nuts Market segmentation, based on distribution channels, includes B2B and B2C. The B2B segment accounted for a higher market share in 2022 and is expected to witness the highest CAGR. Business-to-consumer (B2C) refers to the practice of offering products and services directly to consumers who will utilize them in the long run. B2C enterprises are the businesses that sell directly to consumers. The onset of covid-19 has increased the usage of tree nuts for making cakes in household which is usually considered under B2C channel and further contributes to its segmental growth. 

    Figure 3: Tree Nuts Market, by Distribution Channel, 2022 & 2030 (USD Million)

    Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

    Tree Nuts Region Insights

    The Tree Nuts Market segmentation, based on region, includes North America, Europe, Asia-Pacific, Rest of the World. The Asia Pacific region accounted for a higher market share in 2022 and is expected to witness the highest CAGR. Asia-Pacific is expected to be the largest tree nuts industry, in terms of value and volume, during the forecast period.

    The regional market is projected to register a growth rate of 7.83% during the review period of 2023 to 2030.The growth of the market of tree nuts in Asia-Pacific can be attributed to rapid urbanization and the growing middle-income population driving the demand for healthy food & beverages. Moreover, the increasing per capita disposable income has led to the rising sales of tree nuts. Consumers are ready to pay a premium for functional food & beverages that incorporate tree nuts.

    The rising health awareness in the region is also driving market growth with key processors of tree nuts targeting the region to enhance sales volumes.

    Figure 4: TREE NUTS MARKET SHARE BY REGION 2022 (%)

    Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

    Get more detailed insights about Tree Nuts Market Research Report—Global Forecast till 2032

    Regional Insights

    Key Players and Competitive Insights

    The Tree Nuts Market is expected to register a notable growth rate during the forecast period. The rapidly growing organic industries and increase in literacy about the healthy organic food and concern about the health are mainly driving the market growth. The changing consumer behavior patterns for food and beverages globally is also one of the factors that affect the market growth.

    Nevertheless, the growing fast-paced lifestyle and increasing consumption of packaged food & beverage products, several industry players are focusing on launching novel beverages with innovative nutty flavors, creates a great opportunity for market players in the global market for upcoming years. The Market Key players are focused on lowering their environmental footprint and investing in research and development along with strategic growth initiatives such as acquisitions and product launches to strengthen their market position and capture a large consumer base.

    Key Companies in the Tree Nuts Market market include

    Industry Developments

    April 2022: Olam food ingredients (“ofi”) announces acquisition to expand its private label capabilities in North America

    December 2021: With this acquisition, ADM adds an experienced and successful team of 60 colleagues who serve a growing list of food and beverage customers across Latin America and the Caribbean with a wide range of flavor ingredients and solutions from two state-of-the-art manufacturing facilities in Panama and Colombia.

    Future Outlook

    Tree Nuts Market Future Outlook

    The Global Tree Nuts Market is projected to grow at a 6.57% CAGR from 2024 to 2035, driven by rising health consciousness, increasing demand for plant-based snacks, and expanding applications in food industries.

    New opportunities lie in:

    • Develop innovative packaging solutions to enhance product shelf life and appeal.
    • Leverage e-commerce platforms to reach diverse consumer segments globally.
    • Invest in sustainable sourcing practices to meet growing environmental concerns.

    By 2035, the Global Tree Nuts Market is expected to achieve substantial growth, reflecting evolving consumer preferences and market dynamics.

    Market Segmentation

    Tree Nuts Form Outlook

    • Whole
    • Splits
    • Others

    Tree Nuts Regional Outlook

    North America
    • US
    • Canada
    • Mexico

    Tree Nuts Application Outlook

    • Direct Consumption/Culinary Purpose
    • Bakery & Confectionery
    • Breakfast Cereals
    • Snacks
    • Flavored Drinks
    • Butter & Spreads
    • Dairy Products
    • Others

    Tree Nuts Product Type Outlook

    • Cashew Nuts
    • Walnuts
    • Almonds
    • Pistachios
    • Hazelnuts
    • Chestnuts
    • Brazil Nuts
    • Macadamia Nuts
    • Others

    Tree Nuts Distribution Channel Outlook

    • B2B
    • B2C

    Report Scope

    Attribute/Metric Details
    Market Size 2024 USD 56.88 Billion
    Market Size 2032 USD 94.655 Billion
    Compound Annual Growth Rate (CAGR) 6.57% (2024-2032)
    Base Year 2023
    Forecast Period 2024-2032
    Historical Data 2020 & 2021
    Forecast Units Value (USD Billion)
    Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Segments Covered by Product Type, by Form, By Application, By Distribution Channel, and By Region
    Geographies Covered North America, Europe, Asia Pacific, Rest of World.
    Countries Covered The U.S, Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, Australia & New Zealand, Rest of Asia-Pacific.
    Key Companies Profiled Olam International Ltd. (Singapore), Diamond Foods Inc. (U.S.), Mariani Nut Company, Inc. (U.S.), Blue Diamond Growers (U.S.), Select Harvests Limited (Australia), Waterford Nut Co. Inc. (U.S.), Archer Daniels Midland Co. (IL), TREE NUTS INTERNATIONAL (Maharashtra), Lone Tree Nut Company Inc. (IL), Sun Valley Nut, LLC (U.S.) among others.
    Key Market Opportunities Growing Vegan Population Raising Awareness of By-Products
    Key Market Dynamics Consumer Preference for Highly Nutritive Nut Snacks Widespread Application in Various Industries Drivers Impact Analysis Rising Prevalence of Nut Allergies Restraint Impact analysis

    Market Highlights

    Author
    Harshita Gorade
    Research Analyst

    Harshita Post graduate MBA in Business Administration from Welingkar Institute, Mumbai and 5 years of experience in the field of product market research. As a Research Analyst, I have cross-domain experience in packaging, and industrial Automation & Equipment. I am currently looking after the research process of packaging, logistics & transportation, and industrial automation & equipment at Market Research Future Reports. My responsibilities at the organization involve handling syndicate and custom reports as well as responding to client inquiries, and organize, co-ordinate with a group of 5 to 6 persons to manage all workflows.

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    FAQs

    How much is the Tree Nuts market in 2023?

    The Tree Nuts market accounted for USD 53.212 billion.

    What is the key driving factor for the Tree Nuts market?

    Consumer Preference for Highly Nutritive Nut Snacks, widespread Application in Various Industries, drivers Impact Analysis, are the key driving factor for the Tree Nuts market.

    What is the growth rate of the Tree Nuts market?

    The growth rate of the Tree Nuts market is 6.57% CAGR.

    Who are the key players in the Tree Nuts market?

    Olam International Ltd. (Singapore), Diamond Foods Inc. (U.S.), Mariani Nut Company, Inc. (U.S.), Blue Diamond Growers (U.S.), Select Harvests Limited (Australia), Waterford Nut Co. Inc. (U.S.), Archer Daniels Midland Co. (IL), TREE NUTS INTERNATIONAL (Maharashtra), Lone Tree Nut Company Inc. (IL), Sun Valley Nut, LLC (U.S.) among others, are the key players in the Tree Nuts market.

    Tree Nuts Market Research Report—Global Forecast till 2032 Infographic
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