Introduction
Edible nuts can be used directly, or as added value products through extraction of edible oils and the manufacture of food products. Edible nuts are the most nutritionally concentrated food sources, high in proteins, oils, energy, rich in high calorific value, unsaturated fatty acids, dietary fibers, antioxidants, and vitamin E which are helpful in the growth of edible nuts market in the near future. Additionally, edible nuts have minerals such as iron, manganese, zinc, copper, selenium, phosphorous and potassium, low in saturated fats and cholesterol which is advancing the growth of the market. Furthermore, snack consumption among health conscious consumers is a trend in the market, this is creating a high demand for healthy snacks such as edible nuts. For instance, in august 2019, Kellogg’s nutri grain has launched its first savory snack product, nuts and bolts trail mix. The new snack is a mix of nutri-grain, peanuts, and spices with diced almonds and is available in three flavor varieties, original spice, smokey BBQ, and sweet chilli which are formulating the growth of the market during the forecast period.
Market Segment
The global edible nuts market is segmented into product type, usage, form, distribution channel, and region. Based on product type, edible nuts market is classified into almonds, cashew nuts, hazelnuts, peanuts, pistachios, and walnuts. Based on usage, edible nuts market is characterized into bakery and confectionery, flavoured drinks, breakfast cereals, snacks, butter and spreads, dairy products, and others. Based on form, edible nuts market is segmented into whole, powder, roasted, and splits. Based on distribution channel, edible nuts market is characterized into retailers, supermarkets and hypermarkets, online, and others. And based on region, edible nuts market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa (MEA).
Market Dynamics
Major factors driving the edible nuts market are an increase in the consumption of edible nuts, including walnuts, almonds, hazelnuts, cashew nuts, pistachios, nuts and others. Moreover, in the last few years the move towards healthier eating habits and preferences of the consumers, especially in developing countries such as China and India has mainly supported the edible nuts market. Additionally, government bodies and various private companies raise consumer awareness of the health benefits of edible nuts, resulting a further rise in the revenue of the edible nuts market during the forecast period. According to World Health Organization (WHO), 1.13 billion people worldwide have hypertension. Furthermore, moderate intake of edible nuts is known to reduce the incidence of coronary heart disease, hypertension and gallstones which is stimulating the growth of the market during the forecast period. Moreover, the high price of processing techniques as edible nuts such as cashew undergoes various stages of processing before commercialization such as extraction, clarifying, and packaging. All these processes are quite intensive and this factor is expected to hamper the market growth of the edible nuts during the forecast period.
Owing to the rise in the use of edible nuts in chocolates by manufacturers to enhance the taste of the product is expected to offer lucrative opportunities to the market of edible nuts. For instance, in September 2019, Nestle produced new kitkat and yorkie chocolate bars in the UK and Ireland as a part of a new range called more. Both bars contain fruit, nuts, and cereal contains more protein, fiber, and 30% less sugar than comparable chocolate bars which will be triggering the growth of edible nuts market in the near future.
Geographical Analysis
Europe is expected to dominate the global edible nuts market during the forecast period. Countries such as the Netherlands, Germany, France, and the UK are expected to be major markets for edible nuts in the region due to the increasing demand for natural, low-sugar content, and safe food products. North America is expected to grow steadily during the forecast period owing to the rise in the use of nuts such as acorns and american beech for their starch and fat content.
Asia Pacific edible nuts market is growing significantly during the forecast period, edible nuts require labor intensive harvesting process which is easily available in the region. Additionally, people’s inclination in the region toward a healthy diet is also fuelling the Asia Pacific edible nuts market. Moreover, the increasing health consciousness and rising edible nuts consumption owing to changing lifestyle in China and India are also boosting the edible nuts markets in this region. Furthermore, edible nuts are used in various forms in many homemade food products and are readily used for seasoning in many of the traditional sweet dishes in the region.
Edible nuts are used in a number of traditional cuisines across the world. For instance, cashew nuts are widely used in preparing rice dishes such as pilaf in the Middle East.
Key Market Players
The major key players in the edible nuts market are
Diamond Food Inc.
Archer Daniels Midland Company
Olam International
Blue Diamond Growers
Mariani Nut Company
Select Harvests
Waterford Nut Company
Just Almonds Inc.
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Key Industry Developments
In June 2021, Olam Food Ingredients announces targets to tackle poverty and scale up sustainability in global cashew supply chains. The Cashew trail strategy sets 2030 targets across OFI’s cashew business in line with the United Nation’s Sustainable Development Goals and OFI’s commitment to deliver naturally good, sustainable ingredients. These include ambitious goals to fight poverty by increasing average yields by 50% and helping 250,000 cashew households to improve their livelihoods.
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