Global Tree Nuts Market Research Report, 2024-29

The dried seeds or fruits produced by leafless woody plants are appetizing. Nuts are abundant in high-quality vegetable proteins, fiber, unsaturated fatty acids, and vitamins and minerals including magnesium and E. Market enterprises are introducing innovative and inventive snacks to meet the growing need of the millennial age. Tree nuts' numerous health benefits promote their popularity among customers. The increased appetite for vegan meals among millennial is fueling the market. The dried seeds or fruits produced by leafless woody plants are appetizing. Nuts are abundant in high-quality vegetable proteins, fiber, unsaturated fatty acids, and vitamins and minerals including magnesium and E. Market enterprises are introducing innovative and inventive snacks to meet the growing need of the millennial age. Tree nuts' numerous health benefits promote their popularity among customers. The increased appetite for vegan meals among millennial is fueling the market. The coronavirus outbreak impacted the global supply chain and distribution route for tree nuts. Furthermore, it resulted in the closure and restrictions of restaurants, bakeries, confectionery, and dairy sectors around the world. However, the nut industry benefited greatly from the lockdown and travel restrictions in many locations. The COVID-19 epidemic caused a significant shift in consumer spending priorities. Demand for healthful, convenient, and environmentally friendly diets is increasing, and plant-based proteins are more popular than ever. The global demand for tree nuts is increasing, which is having a big impact on the nut industry. Almonds and cashews are the two most important tree nut products. Almonds are popular among customers due to their health benefits and ease of availability. The Central Valley of California, in particular, has established itself as a global center for tree nuts. For decades, California's Mediterranean climate, which is suitable for crops like walnuts, almonds, and pistachios, has allowed its nut farms to dominate the global market. According to the research report, “Global Tree Nuts Market Overview, 2023-28” published by Actual Market Research, the market is anticipated to cross USD 90 Billion by 2029, increasing from USD 52.19 Billion in 2023. The market is expected to grow with 10.32% CAGR by 2024-29. Rising consumer health consciousness, flexibility in food items, worldwide cultural influences, a shift toward sustainable farming, and rising disposable incomes are driving demand for these healthy and diversified food ingredients. The growing global consumption of tree nuts is due to their numerous health benefits as well as customers' need for convenient, portable snacking options. One of the most important factors promoting industrial expansion is the health benefits associated with tree nuts. Tree nuts are delicious dried seeds or fruits produced by woody plants that do not even have leaves. In response to increased client demand from the millennial age, market firms are offering unique and distinctive snack solutions. Consumers are increasingly interested in purchasing tree nuts since they provide a number of health benefits. Furthermore, tree nuts like cassava, almonds, and pistachios can successfully fulfil the deficiency of different types of minerals and proteins within the human body. Such factors lead to the increased tree nut consumption contributing to the industry growth. Other key trend in the market would be the rise in the use of tree nut oils in the cosmetics industry. Tree nuts could be used as a perfect skin and hair nutrient to relieve dark circles and discomfort. It prevents skin wrinkles and protects the skin from damage caused by antioxidants. Therefore, tree nut oils are commonly used as anti-ageing products as they help maintain skin moisture and avoid ageing. Such factors lead to the heavy use of tree nuts in the cosmetics industry. Tree nuts are a popular snack and ingredient in many dishes. They are delicious raw, roasted, or salted. Tree nuts can also be made into nut butter or used to granola, trail mix, and other dishes. They are a healthy snack, but they can be problematic for persons allergic to tree nuts. Tree nut allergies are among the most prevalent food allergies, and they can result in severe allergic reactions, such as anaphylaxis.

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Market Drivers • Economic Growth in Developing Regions: Economic growth and rising disposable incomes in developing regions contribute to the expansion of the tree nuts market. As people in these regions experience higher living standards, there is an increased willingness to spend on premium and nutritious food products, including tree nuts. The ongoing trend of urbanization is accompanied by a shift in dietary patterns. Urban lifestyles often demand convenient and health-conscious food choices, making tree nuts an attractive option due to their portability, long shelf life, and nutritional benefits.

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• Global Culinary Fusion: Tree nuts are increasingly becoming integral ingredients in diverse global cuisines. As culinary boundaries blur and consumers embrace a variety of flavors and textures, tree nuts find their way into traditional and fusion dishes. This adoption in global cuisines enhances their popularity and drives market growth. Market Challenges • Trade Barriers and Tariffs: Trade barriers, tariffs, and geopolitical tensions can disrupt the smooth flow of tree nuts across borders. Changes in trade policies or imposition of tariffs on agricultural products can impact the cost structure, affecting both producers and consumers in the global market. The tree nuts market heavily relies on efficient logistics for the timely transport of products from production hubs to consumer markets. Transportation challenges, including delays, can lead to quality deterioration and increased costs.

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• Fluctuating Exchange Rates: Fluctuations in exchange rates can pose challenges for both producers and buyers in the global tree nuts market. Currency volatility impacts the cost of production, international pricing, and overall profitability, making it essential for industry players to manage currency risks effectively. Market Trends • Digitalization and E-Commerce: The digitalization of retail has transformed the purchasing behavior of consumers. Tree nuts are increasingly being marketed and sold through online platforms, providing convenience and a wider reach. E-commerce enables direct-to-consumer sales, allowing producers to establish a more direct connection with their target audience. Digital platforms play a crucial role in consumer education about the health benefits and versatility of tree nuts. Producers and retailers leverage social media and online content to disseminate information, recipes, and nutritional insights, influencing consumer preferences. • Clean Label Movement: The clean label movement, emphasizing transparency in food production and ingredients, is influencing the tree nuts market. Consumers are seeking products with minimal processing, free from additives and preservatives. Brands that align with the clean label trend may gain a competitive edge, appealing to health-conscious consumers looking for wholesome and natural options. Covid-19 Impacts The global tree nuts industry, like many sectors, has faced multifaceted impacts due to the COVID-19 pandemic. The disruptions began with supply chain challenges, as lockdowns, travel restrictions, and quarantine measures affected the movement of goods and labor, impacting the harvesting, processing, and distribution of tree nuts. The industry's reliance on international trade further exacerbated these issues, with delays in shipments and increased transportation costs. Additionally, the closure of foodservice establishments, including restaurants and hotels, led to a sudden decline in demand for tree nuts in the hospitality sector. On the other hand, there was a noticeable shift in consumer behavior towards at-home consumption, creating opportunities for packaged and retail-oriented tree nut products. As the pandemic unfolded, health and safety concerns prompted changes in labor practices and hygiene protocols at processing facilities, adding operational challenges for industry players. Moreover, currency fluctuations and economic uncertainties influenced global trade dynamics, impacting the pricing and profitability of tree nuts. Despite these challenges, the industry demonstrated resilience, with many companies adapting by enhancing e-commerce capabilities, investing in digital marketing, and promoting the health benefits of tree nuts to cater to the increasing consumer focus on nutritious and immunity-boosting foods. Hazelnuts are experiencing significant growth, positioning them as a prominent player in the nut industry due to the rise of hazelnuts is their versatile application in the culinary world. Hazelnuts have a distinctive rich and slightly sweet flavor, making them a sought-after ingredient in both sweet and savory dishes. The surge in popularity of hazelnut-based products, such as hazelnut spreads, flavored coffees, and nut-infused chocolates, has expanded the consumer base and driven demand for hazelnuts. Furthermore, the health-conscious consumer trend has played a pivotal role in the growing demand for hazelnuts. These nuts are a nutrient-dense food, containing a variety of essential nutrients, including healthy fats, vitamins, and minerals. The nutritional profile of hazelnuts, coupled with research supporting their potential benefits for heart health and overall well-being, has elevated their status as a health-conscious choice, appealing to individuals seeking wholesome and natural snack options. The hazelnut industry's growth is also linked to the increasing awareness of hazelnut's contribution to sustainability and environmentally friendly agricultural practices. Hazelnut trees are well-suited to agroforestry systems, promoting biodiversity and providing ecological benefits. The demand for sustainably sourced and responsibly produced foods has led to a positive perception of hazelnuts among environmentally conscious consumers. Hazelnuts are integral to the success of certain regional products, notably Nutella, a hazelnut spread that has gained immense popularity globally. The success of such hazelnut-based products has acted as a catalyst for the growth of the hazelnut industry, driving consumer familiarity and interest in incorporating hazelnuts into their diets. Moreover, the global hazelnut industry has witnessed increased investment in cultivation, technology, and processing. Countries like Turkey, which is a major hazelnut producer, have made strides in adopting modern agricultural practices to enhance hazelnut yields and quality. Improved harvesting techniques, storage facilities, and processing methods have contributed to a consistent and reliable supply of high-quality hazelnuts, meeting the growing global demand. Tree nuts, including almonds, walnuts, pistachios, and cashews, are rich in essential nutrients such as healthy fats, protein, fiber, vitamins, and minerals. The recognition of tree nuts' potential to support heart health, manage weight, and provide sustained energy has fueled their integration into nutritional and health foods. Moreover, the rise of plant-based diets and the quest for alternative protein sources have significantly contributed to the growth of tree nuts in this sector. As consumers seek plant-derived protein options, nuts emerge as a naturally nutritious and versatile choice. They are being incorporated into various plant-based products, including nut milks, plant-based meat alternatives, and protein-rich snacks, catering to the increasing demand for plant-centric and sustainable dietary choices. The shift towards mind-ful snacking habits has also propelled the popularity of tree nuts in health foods. As consumers seek convenient and satisfying snacks with nutritional benefits, tree nuts, in their natural form or as part of trail mixes and energy bars, have become a preferred option. The satiating properties of nuts, coupled with their flavor and crunch, make them an ideal choice for those looking to balance taste with health. Furthermore, the growing emphasis on gut health has led to an increased appreciation for the fiber content in tree nuts. Nuts, particularly almonds and walnuts, contribute to digestive health by providing dietary fiber, which supports gut microbiota and promotes a healthy digestive system. The continual innovation in the food industry has led to the development of a wide array of tree nut-based products. From nut butters and spreads to nut-infused beverages and granola bars, these offerings cater to consumer preferences for convenient and delicious ways to incorporate tree nuts into their diets. The versatility of tree nuts allows for seamless integration into both sweet and savory applications, further expanding their appeal in health-conscious food products. The surge in awareness about the importance of managing lifestyle-related conditions, such as diabetes and cardiovascular diseases, has also contributed to the growth of tree nuts in nutritional and health foods. Research suggesting that regular consumption of tree nuts may have positive effects on cholesterol levels, blood sugar control, and inflammation has spurred interest among health-conscious consumers. Split or pre-shelled tree nuts, such as split almonds and pistachios, have gained traction in the market primarily due to the convenience they offer. The time-consuming and sometimes labor-intensive process of shelling nuts is eliminated, making them a hassle-free snack option for consumers seeking convenience in their busy lifestyles. This convenience factor is particularly significant in the context of on-the-go snacking, where the pre-shelled nuts provide an easy and mess-free solution. Furthermore, split tree nuts find favor in culinary applications, as they save time in food preparation and baking. Chefs and home cooks appreciate the ease of incorporating split nuts directly into recipes without the need for additional processing. This has contributed to the popularity of split nuts in the food industry, where efficiency and speed are essential in meeting consumer demand for ready-to-eat and easy-to-use ingredients. The rise of split tree nuts is also linked to the broader trend of snacking as a predominant eating occasion. As consumers move away from traditional three-meal structures towards more frequent and varied snacking, split nuts serve as a convenient and wholesome snack choice. Their accessibility in pre-packaged formats further supports this trend, offering portion-controlled servings that align with modern preferences for healthy and balanced snacking. Moreover, the surge in the demand for healthy snacks has propelled split tree nuts into the spotlight. These nuts are not only a source of essential nutrients, including healthy fats, protein, and fiber, but their pre-shelled form also enhances the perception of a cleaner and more convenient snacking option. This aligns with the growing awareness of health-conscious consumers who are actively seeking snacks that not only taste good but also contribute to their overall well-being. The food industry's response to consumer demand has played a pivotal role in the growth of split tree nuts. Companies have recognized the market potential and have introduced a variety of split nut products, including mixed nut blends, trail mixes, and nut-based snacks. These products leverage the appeal of split nuts, providing consumers with a diverse range of convenient and tasty options to suit different preferences and dietary needs. Based on the distribution channel, the rise of e-commerce platforms has revolutionized the way consumers shop for food products, and tree nuts are no exception. Online channels offer consumers the convenience of browsing and purchasing a wide variety of tree nuts from the comfort of their homes, eliminating the need for physical visits to supermarkets or specialty stores. One of the key drivers of the growth in online sales of tree nuts is the global shift towards a more health-conscious lifestyle. Consumers are increasingly seeking nutritious and wholesome snack options, and tree nuts, being rich in healthy fats, protein, vitamins, and minerals, align perfectly with these dietary preferences. The online platform serves as a convenient avenue for health-conscious individuals to access a diverse range of tree nuts, including almonds, walnuts, pistachios, and cashews, often in bulk or specialty varieties that not are readily available in local stores. Furthermore, the online distribution of tree nuts caters to the demand for product transparency and information. E-commerce platforms often provide detailed product descriptions, nutritional information, and customer reviews, empowering consumers to make informed choices about the tree nuts they purchase. This transparency is particularly important for health-conscious consumers who prioritize understanding the sourcing, quality, and nutritional benefits of the products they consume. The convenience of online shopping extends beyond product availability to delivery options. Many online platforms offer doorstep delivery services, providing consumers with a hassle-free way to receive their preferred tree nuts without the need to visit physical stores. This is especially advantageous for individuals with busy lifestyles, limited access to local markets, or those residing in areas where specialty tree nuts are scarce. Moreover, the growth in online sales of tree nuts is propelled by the globalization of culinary influences. Consumers are increasingly exposed to diverse international cuisines that incorporate various tree nuts, inspiring them to explore and incorporate these nuts into their own cooking. Online platforms facilitate the accessibility of a wide array of tree nuts, allowing consumers to experiment with different varieties and integrate them into their culinary endeavors. In the Middle East and Africa, the tree nuts market is growing, fueled by the rising awareness of the nutritional value of nuts. Traditional consumption of nuts in local diets, coupled with the increasing popularity of Western dietary patterns, is driving market growth. There is a growing awareness of the nutritional benefits associated with tree nuts, and consumers in the MEA region are increasingly embracing healthier eating habits. Tree nuts, being rich in essential nutrients and healthy fats, align with the preferences of individuals seeking nutritious and wholesome food options. Economic growth in certain countries in the MEA region has led to rising affluence and an increase in disposable income. As people's purchasing power grows, they are more inclined to invest in premium and health-conscious food products, including tree nuts. Urbanization is accompanied by changes in lifestyle and dietary patterns. Urban dwellers, with busier schedules and greater access to a variety of food options, are more likely to incorporate convenient and healthy snacks like tree nuts into their diets. The MEA region is not immune to global health and wellness trends. As awareness of the health benefits of tree nuts spreads globally, including their role in heart health and weight management, consumers in the MEA region are incorporating these nuts into their diets. Tree nuts, such as almonds, pistachios, and walnuts, have long been part of traditional Middle Eastern and African cuisines. The region's culinary diversity has allowed for seamless integration of tree nuts into a variety of dishes, from savory meals to desserts, further driving consumption. Some countries in the MEA region, such as Iran, Turkey, and South Africa, have become significant producers and exporters of tree nuts. The availability of locally-produced nuts and the expansion of export markets contribute to the overall growth of the industry. Trade liberalization and agreements have facilitated the movement of goods, including tree nuts, across borders. Reduced trade barriers contribute to increased accessibility of tree nuts, fostering both import and export activities in the region. Investments in agricultural practices and technology have improved the efficiency of nut cultivation in the region. Advanced irrigation techniques and modern farming practices contribute to higher yields and better quality nuts. Some governments in the MEA region have recognized the economic potential of the tree nuts industry and have implemented supportive policies, subsidies, and incentives to encourage the cultivation and export of nuts. The industry has witnessed the diversification of nut products, including processed and value-added items. This includes nut butters, flavored nuts, and nut-based snacks, providing consumers with a variety of choices beyond traditional nut consumption. The global nuts market is highly competitive, with numerous players operating at both regional and global levels. These companies compete on the basis of various factors, such as price, quality, packaging, and innovation. They also focus on expanding their market presence through strategic partnerships, collaborations, and mergers & acquisitions. In addition to these established players, there are also numerous smaller players that operate in specific regions or specialize in niche products. These companies often compete on the basis of product differentiation, quality, and price. Overall, the global nuts market is highly competitive, and the key players are constantly striving to maintain their market position through various strategies. Companies are increasingly focusing on innovation using nuts to gain market share in the world. For instance, in February 2020, Mariani Nut Co. added new flavors of almonds including Chipotle with Adobo, Cinnamon Twist, Hickory Smoked, and Honey Roasted. • Blue Diamond Growers, a leading almond processing and marketing company, announced plans in March 2023 to expand its operations in California's San Joaquin Valley with a new 300,000 square foot facility. The new facility will allow Blue Diamond to increase its capacity for processing and packaging almonds to meet growing demand. • Wonderful Pistachios & Almonds, a subsidiary of The Wonderful Company, announced in February 2023 that it had acquired a 1,100-acre pistachio orchard in California's Central Valley. The acquisition will help the company to expand its pistachio production and meet growing demand for its products. • In January 2023, Diamond Foods announced that it had entered into a final agreement to acquire CWGA (the California Walnut Growers Association) that represents over 40,000 acres of walnut orchards in California. The acquisition is anticipated to close in the first half of 2023. Considered in this report • Geography: Global • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Global Tree Nuts market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Products • Almonds • Cashews • Walnuts • Pistachios • Hazelnuts • Macadamia • Pecans • Others (chest nuts, brazil-nuts, hickory-nuts, pine-nuts) By Form • Whole • Split • Others By Application • Direct consumption /culinary purpose • Bakery and confectionery • Cereals and granola bars • Nutritional and health foods • Dairy products • Other (Cosmetics and personal care, industrial use) By Distribution Channel • Hypermarket/supermarket • Conventional store • Specialty store • Online retail The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Tree Nuts industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.