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Global Nut Meals Market size is forecast to reach $7.4 Billion by 2027, growing at a CAGR of 5.9% during the forecast period 2022-2027. Nuts are an essential source of nourishment for both humans and wildlife. Nuts have a high oil content and are usually utilized in cooking, browning reaction, as well as in cosmetics as a trypsin inhibitor. It also contains a lot of fats, vitamins, carbs, and amino acids that are highly essential. Many nuts are great sources of Vitamin E, Vitamin B2, folic acid, linoleic acids, and vitamin minerals and phenolic compounds. Increasing consciousness of the health advantages of nuts that assist in maintaining a heart & mind and increasing usage of nut meals in maintaining insulin levels in diabetic patients is the major factor depicting the positive Global Nut Meals industry outlook. Increasing usage of nut meals is increasingly substituting meat, milk, eggs along with the protein-rich meat and animal products are set to further enhance the overall market developments of the Global Nut Meals Industry for the period 2022-2027.
Global Nut Meals Segment Analysis – By Category
Organic held the largest share in the Global Nut Meals Market in 2021 and is estimated to grow at a CAGR of 6.1% during the forecast period 2022-2027. Healthy organic snacking, along with convenience and taste, is raising the demand for health consciousness among consumers. Organic nuts are cultivated in a certified organic environment, right from the sourcing of raw materials. The nuts are completely free from any artificial additives/ingredients and trace amounts of chemical fertilizers. Furthermore, with the increasing internet penetration, the online market for the purchase of such food products is set to increase during the forecast period. This has attracted a few vertical specialists, like Amazon, Walmart, and Carrefour that are riding on increasing e-retailing growth and vying for a significant pie in the online organic snacking space. Organic is estimated to register the higher CAGR over the period 2022-2027.
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Global Nut Meals Segment Analysis – By Type
Almonds held the largest share in the Global Nut Meals Market in 2021 and is estimated to grow at a CAGR of 7.0% during the forecast period 2022-2027. This is owing to the fact that almonds contain lots of healthy fats, fiber, protein, magnesium and vitamin E. The health benefits of almonds include lower blood sugar levels, reduced blood pressure, and lower cholesterol levels. They can also reduce hunger and promote weight loss. Pistachios are among the most antioxidant-rich nuts around. They’re high in lutein and zeaxanthin, both of which promote eye health. It contains fewer calories and more protein than most other nuts. Also, their essential amino acid content is higher than any other nut. Almonds are estimated to register the higher CAGR over the period 2022-2027.
Global Nut Meals Segment Analysis – By Geography
North America dominated the Global Nut Meals Market with a major share of 38% in 2021. This is attributed to the rising demand and consumption of nutmeals and the high disposable income of the consumers in the region. Nuts, such as almonds and peanuts, have gained an excellent reputation for being a healthy snacking alternative with diabetic-friendly attributes, such as comparatively low-fat content and healthy omega-3 fats. Also, its rising application of raw nuts and nutmeals in cooking and blends in savories such as trail mixes have attracted a large number of health-conscious consumers in North America.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2022-2027 owing to the advancements in technology, increasing healthcare expenditure, and the high production of nuts in these countries which allows for export all around the world.
Global Nut Meals Market Drivers
Rising Demand for Nut Meals Products is Fueling Market Growth
Rising demand for nut meals products is increasing the growth of the Global Nut Meals Market. Organic nuts are cultivated in a certified organic environment, right from the sourcing of raw materials. The nuts are completely free from any artificial additives/ingredients and trace amounts of chemical fertilizers. Companies that offers organic nuts and nut meals products are HBS Natural Choice, Tierra Farm, and Sun Organic Farm among others. Nuts and nut meals demand is driven by the growing awareness of the health benefits of nuts, which are rich sources of folate, fiber, protein, and other essential minerals. They are a good source of saturated fats and help in maintaining a healthy heart and brain. Moreover, insulin levels are maintained in diabetic patients. Many nuts also contain omega-3 fats, Vitamin E, and folate, making them a great nutrition substitute for meat, for vegetarians. Furthermore, with an increase in interest for paleo and vegan diets, the use of nut meals is on the rise by consumers for their protein needs in the absence of meat, milk, eggs, and other protein-rich meat and animal products. Thus, increasing the growth of the Global Nut Meals Market during the forecast period 2022-2027.
Increasing Usage of Nut Meals In a Variety of Applications and Changing Consumer Tastes is Boosting Product Demand
Increasing usage of nut meals in a variety of applications and changing consumer tastes are increasing the growth of the Global Nut Meals Market. Nuts contain a lot of fays, carbs, vitamins, and amino acids that are essential. Many nuts are great sources if vitamin E, vitamin B2, folic acid, fiber, and the vital minerals like magnesium, potassium, copper, and selenium. Nuts are healthful in their raw unroasted type because roasting can significantly harm and destroy fats throughout the process. Many top players in the nut market are investing in nut meals owing to the popularity of the paleo diet and an increasing number of people opting for a protein-packed substitute base for baked goods. Nut meal has its main function as a substitute for plain flour or as a mixture in flour for baking and cooking. It has the benefit of blending easily as a powder in various bases and providing the taste and nutritional benefits of nuts to the product. The coarseness and texture of the nut meal are determined by the type of nut used and the fineness required for the specific application. Thus, increasing the growth of the Global Nut Meals Market during the forecast period 2022-2027.
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Global Nut Meals Market Challenges
High Amount of Fats and Calories Leading to High Obesity Levels and Increasing Prevalence of Nut Allergy Among a Large Group of People is Impeding Market Growth
Some of the factors that are set to impede the growth of the Global Nuts Meals Market are high amounts of fats and calories leading to high obesity levels and increasing prevalence of nut allergy among a large group of people. Peanut causes the most common allergies and also some serious reactions. Reactions to peanuts can be unpredictable, even when consumed in very small amounts. This happens because the body’s immune system recognizes the protein in peanuts as harmful and can cause symptoms. The nutrients in nut meals are usually very high. However, even if these nutrients are so high, the disadvantage of peanut is that they lack balance. Thus, hindering the growth of the market during the forecast period 2022-2027.
Global Nut Meals Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Global Nut Meals Market. In 2021, the Global Nut Meals Market share is consolidated by the top ten players present in the market. The Global Nut Meals top 10 companies include:
Bob’s Red Mill
Tierra Farm Inc.
Royal Nut Company
Sun Organic Farm
Blue Diamond Growers
Cargill Inc.
Richardson International
Syngenta
Archer Daniels Midland Company
Monsanto Co.
Recent Developments/New Products
In July 2021, it was reported that startup Nooj debuts in October 150 Sainsbury’s stores as the U.K.’s earliest-to-market nut milk concentrate. The product accessible in almond and cashew will be placed beside other chilled plant milk and dairy products. It is a smooth nut paste, including more than 60% nuts, water, salt, and an organic preservative.
In April 2021, Blue Diamond Growers is developing its baking portfolio with a novel line of baking mixes and single-serve dessert cups prepared with almond flour. Blue Diamond’s baking mixes are gluten-free and prepared with finely sifted almond flour, rice flour, and tapioca flour. Every mix includes 10 constituents or fewer and is dairy-free, kosher certified, and Non-GMO Project verified.
In January 2020, Blue Diamond Growers came up with the most novel product which puts regional almonds in a completely novel food classification. Earlier this month, the Sacramento-based cooperative introduced an almond protein powder in three flavors namely dark chocolate, vanilla and unsweetened. It comes in 24-ounce containers and is sold exclusively on Amazon and at Blue Diamond gift shops.
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Key Takeaways
North America dominated the Global Nut Meals Market in 2021 owing to the increasing inclusions of nuts in the diet plans and increasing usage of nutmeals in a variety of applications and changing consumer tastes. The Global Nut Meals Market scope for different regions will be provided in the final report.
Increasing awareness of the health benefits of the nuts meals and increasing popularity of the paleo diet are likely to aid the market growth of the Global Nut Meals Market report.
High amount of fats and calories leading to high obesity levels and increasing prevalence of nut allergy among a large group of people is poised to create the hurdles for the Global Nut Meals Market.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Global Nut Meals Market report.
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