Market Size of Nuts and Nutmeals Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 57.01 Billion |
| Market Size (2029) | USD 75.93 Billion |
| CAGR (2024 - 2029) | 5.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Nuts & Nutmeals Market Analysis
The Nuts and Nutmeals Market size is estimated at USD 57.01 billion in 2024, and is expected to reach USD 75.93 billion by 2029, growing at a CAGR of 5.90% during the forecast period (2024-2029).
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.
