The global packaged nuts & seeds market is estimated to reach USD 83.4 billion, by 2025, and is projected to grow at the CAGR of 5.3% from 2019 to 2025, according to a new report by Million Insights. The changing consumer preference towards nutritional foods is expected to boost the product demand.
The growing applications of sesame, almonds, sunflower, and cashews in bakery and confectionery is anticipated to boost the market growth. Additionally, the increasing demand for sunflower, chia and sesame seeds for medicinal applications is also expected to spur the demand for the products. These packaged foods are effective in reducing cancers, cholesterol levels which in turn is expected to spur the market growth.
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The increasing awareness about health advantages associated with the consumption of dry foods especially in countries such as China, India, and Japan is supporting the market growth. According to reports, in 2016, the consumption of almonds in India was around 83,000 million tons, while the cashew nuts consumption was 301,719 million tons. All these trends are projected to foster the demand for the product.
Moreover, the manufacturers focus on strategic initiatives such as acquisitions, new product launches. In addition, they also collaborate with food chains to expand their business and product portfolio. For instance, in 2016, Future consumer enterprise has introduced a brand called KARMIQ to offer premium quality dry foods. These factors are anticipated to bolster the demand for the product.
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Further key findings from the report suggest:
• Packaged nuts are estimated to account for USD 45.8 billion by 2025. The hazelnuts are projected to grow at the CAGR of around 5.6% during the forecasted period.
• North America region attributed to market share over 56.0% in 2018.
• Major players in the packaged nuts and seeds market are Bayer AG, Blue Diamond Growers, Syngenta, SunOpta, DuPont, McCormick & Company, Inc., ITC Limited, Olam International and Select Harvests Limited.
Million Insights has segmented the global packaged nuts & seeds market based on product, form, and region:
Packaged Nuts & Seeds Product Outlook (Revenue, USD Billion, 2015 – 2025)
• Pecan Pieces
• Sunflower Seeds
• Chia Seeds
• Sesame Seeds
Packaged Nuts & Seeds Form Outlook (Revenue, USD Billion, 2015 – 2025)
Packaged Nuts & Seeds Regional Outlook (Revenue, USD Billion, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa
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