Tree nuts are fruits or seeds with a high fat content such as almonds, Brazil nuts, cashews, chestnuts, hazelnuts, walnuts and others which are used in a wide variety of edible roles such as foods, flavoring, and snacks or are eaten raw. The global tree nuts market is projected to expand to 15,856.49 kilo tons by 2022, growing at a CAGR of 3.46 %.
Diverse edible roles of tree nuts in the food industries such as bakery, confectionery, snacks and others has resulted in traditional popularity of tree nuts. Psychographic drivers such as behavior and cultural changes, increasing awareness about the supplementary nutritional values of nuts and others are driving the market. Tree nuts are rich source of fatty acids such as palmitoleic acids, omega-3 and others. Tree nuts is also a rich source of minerals including potassium, manganese, calcium, and iron and phyto-vitamins such as B-complex and carotenes. Growing culinary uses and prosperity of snacks and packaged foods industry is driving the market. Growing cultivation, popularity of convenience foods, global supply chains and international trade are ushering a growth in the market.
Attractive advantages of tree nuts such as less perishability, portability, growing inclusion of appealing ingredients such as specially designed flavors, sweeteners, and preservatives have added to the growth of the market.
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Growing stringency of regulatory standards such as safety, labelling, and others exemplified by the European standards which are more stringent than the UNECE standards, is expected to hamper the market growth. European standards include stringent parameters such as moisture content, quality class, preservatives and content, and others which restrict the imports of edible nuts in Europe. The effect of these standards is reflected by the fact that growth in value has outstripped the growth by volume by a factor of greater than 5, thus adding pressures on the pricing margin.
The major market players in the global Tree Nuts market primarily are Mariani Nut Company Inc. (U.S.), Golden Peanut Company Llc (U.S.), Select Harvests Ltd. (Australia), Diamond Foods, Inc. (U.S.), Olam International Ltd. (Singapore), Blue Diamond Growers (U.S.), Waterford Nut Co. Inc. (U.S.) and others.
Europe accounts for the largest share of the market for global edible nuts resulting for approximately 45 % of total world market by value with Germany, Netherlands, France and the U.K. leading the market. A strong growth of 8.9 % was witnessed in European imports of edible nuts in 2016. European countries like Turkey, Italy and Georgia have specialized in hazel nuts production with the confectionary industry of Europe accounting for a large demand.
Asia Pacific region secured the second largest market on account of traditional popularity, geographical advantage, and large population with China and India being the dominant regions. South America is expected to witness the higher growth rate of 5.58 % during forecast period. Asia Pacific region is followed by North America with the U.S being the largest producer of almonds around the globe. North America region is expected to deliver a growth of 2.77 % in tree nuts market during the forecast period. The Middle East and Africa market is led by the Gulf regions of Saudi Arabia, UAE and Kuwait.
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Type – cashew nuts, walnuts, almonds, chestnuts, pistachios, hazelnuts, Brazil nuts, others. Cashew nuts dominate the tree nuts market with a market share of 28.9 % which is projected to grow at a 5.52 % CAGR by 2022.
Form – whole, roasted, powder, splits, others. Whole form dominates the market share of 52.9 % market share and it is projected to grow at a CAGR of 3.56 % by 2022. Whole form is projected to reach a market volume of 8,383 kilo tons with a 3.56 % CAGR. The cashew nuts is projected to reach a market volume of greater than 4,500 kilo tons by 2022.
Application – direst consumption/culinary purpose, breakfast cereals, bakery and confectionery, butter and spread, snacks, flavored drinks, dairy products and others. Bakery and confectionery dominates the market by application segment with a 32.08% market share in 2016. Flavored drinks is expected to witness the highest growth rate of 3.96 %, while direct consumption/culinary is projected to grow at 3.83 % CAGR during the forecast period from 2016 to 2022.
Region – Americas, Europe, Asia Pacific, Middle East and Africa.
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