Tree Nuts Market Overview
The global Tree nuts market is profiled in detail in the new report from Market Research Future (MRFR). The global Tree nuts market’s historical profile is covered in the report, further carrying on to the market’s present conditions, and then on to its likely future growth trajectory.
The global Tree nuts market is primarily driven by the growing awareness about the high nutritive value of nuts such as almonds, cashews, and walnuts. Tree nuts are highly nutrient-dense foods containing large amounts of minerals and other trace nutrients such as vitamins, which has driven their demand among the world’s increasingly health-conscious consumer demographic. Tree nuts also contain high amounts of proteins and fats, further adding to their allure for the health-conscious demographic. The growing urban demographic, which is informed enough to deliberately purchase foods that add to the overall nutrient consumption, is likely to remain a major driver for the global Tree nuts market over the forecast period.
Direct consumption as well as other forms of consumption of Tree nuts are popular due to their versatile, agreeable taste and ease of mixing them with other foods. Bakery products and dairy products are among the highest-selling non-direct consumption channels for the global Tree nuts market. Bakery products such as bread and cakes are a highly popular way of consuming Tree nuts, as the taste of the bakery products further enhances the eating experience of the nuts. Dairy beverages with Tree nuts are also widely popular and are likely to remain a major selling item over the forecast period, leading to steady growth of the global Tree nuts market.
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Leading players in the global Tree nuts market include Archer Daniels Midland Co., Diamond Foods, Blue Diamond Growers, Waterford Nut Co., Acomo, John B. Sanfilippo & Son Inc., KP Nuts, Select Harvests Ltd., Mariani Nut Co., and Olam International.
In April 2019, Vietnamese company T&T Group JSC announced plans to purchase 200,000 tons of raw cashews from Ivory Coast, Africa’s leading producer of cashews and second worldwide. The purchase could extend to 400,000 tons in a few years. The purchase of such a high volume of cashews by a single company is raising eyebrows in the cashew market, as the market is mostly fragmented and dominated by smaller players.
The global Tree nuts market has been segmented based on type, form, application, and region.
Based on type, the global Tree nuts market has been segmented into cashew nuts, walnuts, almonds, chestnuts, pistachios, hazelnuts, brazil nuts, and others.
By form, the global Tree nuts market has been segmented into whole, powder, split, and others.
Based on application, the global Tree Nuts market is segmented into direct consumption/culinary purposes, bakery and confectionery, breakfast cereals, snacks, beverages, dairy products, and others.
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Europe is expected to dominate the global Tree nuts market, followed by North America and the Asia Pacific. In Europe, the popularity of Tree nuts is quite high, while the demand for healthy foods is growing. Countries such as the Netherlands, the UK, France, and Germany are likely to dominate the European market for Tree nuts over the forecast period. Government regulations in the region also have supported the rising entry of low-sugar, nutrient-rich foods into these countries, which has driven the demand from the Tree nuts market.
Apart from the growing demand for healthier alternatives to popular, conventional snack items, the Tree nuts market in North America is also driven by the growing demand for nut oils and nut butter products. The growing popularity of almond milk as an alternative to dairy is also likely to remain a key driver for the Tree nuts market in North America over the forecast period.
The Asia Pacific is expected to exhibit the fastest growth over the forecast period due to the rapid consolidation of the unorganized Tree nuts market in the region. Countries in Asia Pacific such as India have longstanding traditions of using Tree nuts in culinary applications, leading to a smooth growth in demand from the Tree nuts market in the region.
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