Changing lifestyles and rising health concerns have led to an increase in demand for healthier as well as tastier food. Nuts are gaining popularity as a nutritive and healthy food additive and snacking option. Nut ingredients include almonds, hazelnuts, cashew nuts, walnuts, peanuts, pecans, pine nuts, soy nuts, and others. Nut ingredients are highly nutritious and are a rich source of various macro and micronutrients. Food manufacturers tend to prefer nut ingredients as an additive, as these impart a nutty flavor to the product. Nut ingredients are used in various food and beverage sectors in bakery, confectionery, ready-to-eat food, snacks and bars, cereals, and dairy products. Thus, with the increasing popularity as well as interest from various manufacturers in the food and beverage sector, the global nut ingredients market is expected to grow over the forecast period.
Growing Demand for Nut Ingredients as a Healthier Snack and Food Additive
The demand for healthier and tastier food additives and snacks is growing at a good pace. The increasing consumer demand for innovative, healthy, and convenient food along with the rising demand for healthier snacks is driving the global nut ingredient market. The increasing demand for ready-to-cook food and the tendency of the growing working population to substitute regular meals with healthier snacks are some of the other factors driving the global nut ingredients markets. There is an increasing demand for nut ingredients from bakery, confectionary, and snack sectors. Nut ingredients are preferred as an additive in baked products to cover for the loss of proteins due to heat. Many nut ingredients are a rich source of omega-3 fatty acids as well as vitamins and thus, are a good alternative to meat products. The growing vegetarian and vegan population prefers to have various nut ingredients in meals or as snacks, which is proving to be a positive factor for the growth of the nut ingredients market. Various nut ingredients such as almonds, hazelnuts, walnuts, cashew nuts, pecans, soy nuts, and peanuts are popular as energy-boosting and tasty snacks rich in macro as well as micronutrients. Thus, with increasing popularity and demand from various industries in the food and beverage sector, the global nut ingredients market is expected to grow positively in terms of value and volume over the forecast period.
Global Nut Ingredients: Market Segmentation
On the basis of ingredient, the global nut ingredients market has been segmented as-
On the basis of form, the global nut ingredients market has been segmented as-
On the basis of application, the global nut ingredients market has been segmented as-
Global Nut Ingredients Market: Key Players
The global nut ingredients market is growing rapidly. Some of the key players in the global nut ingredient market include Archer Daniels Midland Company, Terri Lynn, Inc., Kerry Group, ROYAL NUT COMPANY, H.B.S. Foods Ltd, Bergin Fruit and Nut Company, Blue Diamond Growers, The Hershey Company, and others.
Opportunities for Key Participants
The global nut ingredient market is growing at a good pace. Hence, there are numerous opportunities for key players in the nut ingredients markets. Manufacturers are focusing on providing healthier as well as tastier products by including nut ingredients in various recipes. There is an increasing demand for nut ingredients from the snack industry, which has led nut ingredient manufacturers to innovate their product portfolio.
Global Nut Ingredients Market: A Regional Outlook
The global nut ingredients market is regionally segmented as North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa. North America, followed by Europe, is a dominant player in the global nut ingredients market. East Asia and South Asia are expected to exhibit rapid growth in the market owing to the rising demand for healthier food from China and India.
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Regional analysis includes: