Nuts & Nutmeals Market Size
|Market Size (2023)||USD 53.83 Billion|
|Market Size (2028)||USD 71.70 Billion|
|CAGR (2023 - 2028)||5.90 %|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
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Nuts & Nutmeals Market Analysis
The Nuts and Nutmeals Market size is expected to grow from USD 53.83 billion in 2023 to USD 71.70 billion by 2028, at a CAGR of 5.90% during the forecast period (2023-2028).
The market is mainly driven by the growing awareness of the nuts health benefits as they are rich sources of fiber, protein, vitamins, antioxidants, and other essential minerals. They are also increasingly getting their popularity in the paleo diet. The market is also heavily driven by the growing vegan population worldwide as they are broadly considered a good alternative for fish and eggs for fulfilling protein, calcium, and vitamin B12 needs. In recent decades, almonds gained an excellent reputation for being a health nut, with their diabetic-friendly attributes, such as their comparatively low-fat content and healthy omega-3 fats. Market players have been introducing various flavored nuts with multiple tastes and flavors. For instance, in November 2022, Blue Diamond Almonds launched new limited-edition Snickerdoodle Flavored Almonds and Blue Diamond Peppermint Cocoa Flavored Almonds.
Due to the trend of healthy snacking, consumers are opting for on-the-go snacks. Flavored nuts and nutmeals are the best meal alternatives because of their health benefits. Nuts are a good source of saturated fats and help support a healthy heart and brain. Consumers are opting for vegan and plant-based food these days. Due to this, the demand for nuts and nut meals is increasing. Market players are also introducing nut milk, like almond milk, as an alternative to whole dairy milk. Innovation and the requirement for healthy convenience food are driving the market. In May 2022, VKC Nuts, India's leading fully integrated farm-to-fork Nuts & Dried Fruits company, launched a range of pasteurized nuts and dried fruits under its brand Nutraj.
Nuts & Nutmeals Industry Segmentation
The nut is a fruit made of a hard shell with an edible seed inside. Nutmeal is nothing but a product made by grinding different nuts. The market studied is segmented based on category, type, distribution channel, and geography. The nuts and the nutmeal market is segmented by category into organic and conventional. By type, the market is segmented into almonds, peanuts, hazelnuts, walnuts, cashew, pistachios, and other types of nuts. By distribution channel, the market is segmented into hypermarkets/supermarkets, convenience stores, online channels, and other distribution channels. The market is segmented by geography into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done based on value (in USD million).
|Online Retail Stores|
|Other Distribution Channels|
Nuts & Nutmeals Market Trends
This section covers the major market trends shaping the Nuts & Nutmeals Market according to our research experts:
Rising Health Awareness Led to Healthy Snacking Patterns
The increasing consumers' health awareness and the rising disposable income across regions are the factors that have encouraged people to opt for high-quality nut and nutmeal products. Healthy snacking and convenience and taste are raising consumers' demand for nut and nutmeal ranges. Apart from healthy snacking, the plant-based diet followed by the ongoing trend of veganism is actively supporting the market's growth and will continue to do so during the forecast period. For instance, in November 2021, Blue Diamond Almonds launched Almond Breez Extra Creamy Almon Milk as a plant-based alternative to whole dairy milk. The product uses almond oil made from quality California-grown Blue Diamond almonds to give the product an extra creamy texture. Also, the clean-label trend and availability of nut mixes and seasoned nuts with clean-label claims such as organic, better-for-you, and others are further accelerating the growth of the market studied.
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North America Holds a Prominent Share
The growing popularity of healthier snacking and eating habits among American consumers continue to encourage nuts consumption, tree nuts, and groundnuts. The fight against cardiovascular diseases, the desire for better health and well-being, and the publication of scientific studies highlighting the benefits of nut consumption are likely to continue fueling demand for these products. Nuts and nutmeals are widely regarded as nutritional dynamite among American consumers. Nuts for snacking, like roasted, coated, and salted, will have a high penetration rate over the medium term. According to USDA data from 2022, the United States is the highest producer of Almonds and Pistachios and 2nd largest producer of Walnuts. Due to this, the market players are innovating new nut meals and flavored nuts for easy on-the-go snacking. For instance, in June 2022, Daily crunch launched two new flavored almond products, Cinnamon Java Sprouted Nut Medley and Nashville Hot Sprouted Almonds.
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Nuts & Nutmeals Industry Overview
Global nuts and nutmeals include leading players such as Bob's Red Mill, Inc, Blue Diamond Almonds, Royal Nut Company, Sun Organic Farm, Kluth GmbH & Co. KG, Tierra Farms, and Mandelin Inc., among others. These major players in this market focus on increasing their presence through expansions, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia-Pacific, and Europe. They also have manufacturing facilities and strong distribution networks across these regions.
Nuts & Nutmeals Market Leaders
Bob's Red Mill
Royal Nut Company
Sun Organic Farm
Blue Diamond Almonds
Tierra Farm, Inc.
*Disclaimer: Major Players sorted in no particular order
Nuts & Nutmeals Market News
- November 2022: Blue Diamond Almonds introduced two new limited-edition flavors of almonds, i.e., "Blue Diamond Snickerdoodle Flavored Almonds" and "Blue Diamond Peppermint Cocoa Flavored Almonds."
- June 2022: Blue Diamond Almonds launched four new flavors of almonds, i.e., Korean BBQ Almonds, Elote – Mexican-Style Street Corn Almonds, Elote – Mexican-Style Street Corn Almonds, Mash Ups, and Mash Ups Dark Chocolate and Chili Pepper Almonds.
- June 2022: Kluth, a GmbH & Co. KG brand, launched gently roasted unskinned cashews refined with a natural vanilla taste.
Nuts & Nutmeals Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.2.7 Other Types
5.3 Distribution Channel
5.3.2 Online Retail Stores
5.3.3 Convenience Stores
5.3.4 Other Distribution Channels
5.4.1 North America
126.96.36.199 United States
188.8.131.52 Rest of North America
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 Rest of Asia-Pacific
5.4.4 South America
22.214.171.124 Rest of South America
5.4.5 Middle-East and Africa
126.96.36.199 United Arab Emirates
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Bob's Red Mill
6.3.2 Blue Diamond Almonds
6.3.3 Royal Nut Company
6.3.4 Sun Organic Farm
6.3.5 HBS Natural Choice
6.3.6 Ludlow Nut Co. Ltd
6.3.7 Tierra Farm
6.3.8 Kraft-Heinz Company
6.3.9 NOW Health Group Inc.
6.3.10 Kluth (GmbH & Co. KG)
6.3.11 Archer Danials Midland Company
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Nuts & Nutmeals Market Research FAQs
How big is the Nuts and Nutmeals Market?
The Nuts and Nutmeals Market size is expected to reach USD 53,828.48 million in 2023 and grow at a CAGR of 5.90% to reach USD 71,695.5 million by 2028.
What is the current Nuts and Nutmeals Market size?
In 2023, the Nuts and Nutmeals Market size is expected to reach USD 53,828.48 million.
Who are the key players in Nuts and Nutmeals Market?
Bob's Red Mill, Royal Nut Company, Sun Organic Farm, Blue Diamond Almonds and Tierra Farm, Inc. are the major companies operating in the Nuts and Nutmeals Market.
Which is the fastest growing region in Nuts and Nutmeals Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2027).
Which region has the biggest share in Nuts and Nutmeals Market?
In 2023, the North America accounts for the largest market share in the Nuts and Nutmeals Market.
Nuts and Nutmeals Industry Report
Statistics for the 2023 Nuts and Nutmeals market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Nuts and Nutmeals analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.