According to MarketsandMarkets, the report “Nut Products Market by Product Type (Nut Butter, Nut Paste/Marzipan Paste/Persipan Paste, Nut Fillings with Cocoa, Nut Fillings without Cocoa, Caramelized Nuts, and Nut Flour), Nut Type, End-User/Application, Quality and Region – Global Forecast to 2025″, size is estimated to be valued at USD 1.5 billion in 2020 and is projected to reach USD 2.0 billion by 2025, recording a CAGR of 5.8%. in terms of value. The robust growth of the nut products market is driven by product innovation in cereals and snack bars, dairy products, confectionery, and savory products. The growth is further complemented by rising health consciousness among consumers and growing disposable income levels, leading to greater purchasing of premium nut-based offerings.
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The nut paste segment is the largest market segment in the nut products market during the forecast period.
Globally, consumers are inclining toward healthier and nutritious options that are plant-based, low-fat., low-sugar, gluten-free, and free from GMOs. Therefore, products like nut paste have gained more popularity because of its versatility in usage. It is used by many food manufacturers as it can cater to the needs of the consumer. The improving lifestyle of consumers and growing health consciousness encourages marzipan manufacturers around the world to experiment with new flavors and ethnic ingredients to align themselves with consumer preferences.
The almond nut type segment is projected to grow at the fastest rate in the nut products market during the forecast period
Almonds are free from cholesterol and saturated fats, due to which they are beneficial for calorie-conscious individuals. Almond can be processed into various forms namely nut butter, nut paste, nut flour, caramelized nuts, and nut fillings. These semi-finished products have numerous applications such as confectionery, beverages, snacks, desserts & ice creams, and bakery. For instance, almond flour is popularly used instead of wheat flour in many bakery shops. The market is witnessed significant growth in developed countries, such as the US and Germany, due to the high awareness pertaining to health-based food. products, along with an increase in the food processing sectors.
The cereals & snack bars segment is projected to witness the fastest growth in the nut products market, 2020 to 2025.
The majority of consumers are inclining toward the cereals & bar category as a convenience health befitting food product. Consumers are considering nuts as the most desired ingredient, as they make a bar crunchier in texture and provide numerous nutrients, and improves taste. There is more scope for innovation, as bars are currently consumed by most of the adults, and breakfast bars or granola bars alone are eaten by major chunk of the people. Owing to these factors, edible nuts are considered as the best ingredient for bars and are constantly experiencing growth.
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The Europe region dominated the nut products market with the largest share in 2019
Consumers in Europe are witnessing a high demand for natural and low-sugar ingredients and food products, resulting in a surge in nut product consumption in the region. As high-fat products are responsible for the occurrence of chronic illnesses, such as obesity and diabetes, food & beverage manufacturers are now focusing on undertaking innovations in the production of various low-fat fortified foods to cater to consumer demands for healthy food & beverage products.
This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Olam International (Singapore), Barry Callebaut (Switzerland), Blue Diamond Growers (US), Kerry Group (Ireland), Zentis GmbH & Co. KG (Germany), Mount Franklin Foods (US), Mandelin, Inc (US), Bazzini (US), Besana (Italy), Lubeca (Denmark), Puratos (Belgium), Lemke (Germany), Almendras Llopis S.A.U. (Spain), Kanegrade (UK), Moll Marzipan GmBH (Germany), Kondima (Germany), CSM (US), Treehouse Almonds (US), Royal Nut Company (Australia), and Stelliferi & Itavex S.p.A (Italy).
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