Nuts Market Analysis – Demand, Trends & Global Forecast

Nuts Market Overview for 2024 to 2034

The nuts market is estimated to be valued at USD 64,272.60 million in 2024. The nuts industry is expected to grow at a CAGR of 5% through 2034. The market is forecasted to reach a valuation of USD 104,693.3 million by 2034.

Attributes	Key Statistics
Nuts Market Value (2024)	USD 64,272.60 million
Projected Nuts Market Size (2034)	USD 104,693.3 million
Value-based CAGR (2024 to 2034)	5%

Top Trends Shaping the Worldwide Nuts Market

• Supermarkets and retailers are stocking multiple nut packages to meet various dietary requirements and taste preferences.
• Players are introducing distinctly flavored nut products, covered in sweet or spicy layers, to entice consumers.
• Increasing working women population in developed as well as developing countries is positively impacting sales of nuts in the market.
• Players are selling their products on their official websites or on eCommerce websites to boost the accessibility of their products.
• Surging use of nuts in various forms to develop bakery products like waffles, cakes, quick breads, scones, muffins, etc.
• Increasing research studies demonstrating the nutritional benefits of consuming nuts are stimulating the worldwide demand for nuts. The consumption of nuts helps manage weight and heart health, boosting overall well-being.
• Nuts are gaining popularity as a high-protein, convenient substitute for common sticks, driving demand for nuts as a natural, nutritious snack option.
• Soaring availability of seasoned nuts and nut mixes with clean-label claims like better-for-you, organic, and others are expected to drive sales of nuts.

Historical Growth of the Nuts Market Vs. Forecast Outlook

Attributes	Details
Nuts Market Value (2019)	USD 52,283.10 million
Historical Market Value (2023)	USD 61,491.20 million
HCAGR (2019 to 2023)	4.1%

The nuts market surged from USD 52,283.10 million in 2019 to USD 61,491.20 million in 2023. The market registered a CAGR of 4.1% during the historical period. Growing demand for healthy snacking options is catapulting sales of nuts. Additionally, nuts and cereal mixtures are healthy breakfast solutions, popular among large populations. Other factors supporting the sales of nuts are as follows:

• Growing popularity of paleo diets
• Surging vegan population
• Increasing athletes and gym enthusiasts who seek butter, spreads, bars, and snacks to fulfill their nutritional requirements
• Expanding HoReCA sector is spurring the appetite for nuts to enrich the nutritional value of their meals

The market is set to register a CAGR of 5% through 2034 to reach USD 104,693.3 million by 2034 from USD 64,272.60 million in 2024. The leading factors for growth are mentioned below:

• Robust eCommerce expansion, due to internet penetration and convenient online purchasing, is influencing the mode of buying nuts.
• Nuts find their way as an appealing topping on desserts or in cake batters, thus boosting their use.
• Players are launching varied flavored nuts with many tastes and flavors to capture consumer interest.

Historical CAGR (2019 to 2023)	4.1%
Forecast CAGR (2024 to 2034)	5%

Category-wise Insights

Rising Consumer Preference for Peanuts as a Snacking Option

Top Product Type	Peanut
Market Share (2024)	28%

The peanut segment is projected to account for a market share of 28% in 2024. The increasing attractiveness of peanuts due to their high nutrient density and cost-effectiveness is enhancing this segment’s value. Consumption of peanuts is rising in different forms, like peanut butter, peanut-based snacks, and whole peanuts.

Increasing cognizance about the health benefits of consuming peanuts is pushing its demand. These benefits include reduced chances of type 2 diabetes, better heart health, and weight management. Peanuts are increasingly being incorporated in different dishes to bring innovation in recipes, thus fueling its sales. Growing production of peanuts is expected to favor the growth of the peanut segment.

Increasing Use of Nuts in the Food Processing Industry

Top End-use Industry	Food Processing
Market Share (2024)	32%

The food processing segment is anticipated to acquire a 32% share of the global nuts market. The segment is driven by surging demand for nuts owing to their nutritional value, versatility, and distinct texture and flavor.

Additionally, the increasing popularity of nut-based snacks, desserts, beverages, and main courses is generating the opportunity for food manufacturers to innovate. Nuts are a preferable ingredient in trail mixes, granola bars, breads, cookies, and savory dishes like stir-fries and salads.

Country-wise Insights

Countries	CAGR (2024 to 2034)
United States	3.6%
Germany	4.0%
China	2.9%
Spain	4.9%
Italy	5.4%

Surging Cafes and Bakeries Across the United States to Drive Up Sales of Nuts

The nuts market in the United States is projected to be driven by the following factors:

• Opening up of cafes and bakeries across the country is projected to be an optimistic turn for the nuts industry. Nuts are widely used in the preparation of various delicacies available at these establishments.
• Increasing health awareness among the people in the United States is driving the demand for healthy snack options.

Rising Acquisition and Mergers to Raise Growth Levels of Nuts Market in Germany

The German nuts market is gaining prominence in the regional market. Over the forecast period, the following factors are projected to lead to market growth:

• Acquisition and mergers performed by active players. For instance, in June 2023, Naughty Nuts, a German start-up, was bought by Bulgaria’s Smart Organic.
• Soaring consumption of almonds, cashews, and walnut products.

Rising Production of Almonds in Spain Offers Significant Market Growth Opportunities

Spain is anticipated to record a 4.9% CAGR throughout the forecast period. Key factors catalyzing market growth are as follows:

• Spain is projected to drastically increase its production of grain almonds. This can be attributed to its entry into production of over 16,000 new hectares.
• Growing demand for an organic variety of nuts in the country

Rising Consumption of Nuts as a Nutritious Snack Choice to Boost Sales in China

China is projected to observe growth in demand for nuts over the next ten years. Mentioned below are the top factors driving market growth:

• Increasing consumption of macadamia nuts in China.
• Rising incorporation of nuts in meals as a nutritious, convenient snack choice. Their intake helps fulfill the requirement of vitamins, minerals, antioxidants, protein, fiber, and healthy fat.

Increasing Use of Nuts in Sweets to Celebrate Festive Season is Pushing Sales of Nuts in India

The India nuts market is projected to be driven by the following factors:

• Growing preference for bars and snacks among workaholics and gym goers for an instant energy boost is fueling market demand. These packages include healthy ingredients like nut butter, grains, seeds, etc., and find many takers.
• Surging demand for nutty sweets to celebrate special occasions. In November 2023, Kookie Jar launched a Diwali dessert made of golden sparkling honey pie and caramelised nuts.

Nuts Industry in Italy to Observe Significant Turnover

The Italy nuts market is projected to expand at a CAGR of 5.4% over the forecast period. The following factors are responsible for driving sales of nuts in the country:

• Growing awareness about the health benefits of consuming nuts has increased the consumption levels of nuts in the past decade. As per recent studies, Italy is the leading consumer of hazelnuts and almonds.
• Increasing popularity of protein bars and snacks in Italy as a healthy snacking option is also contributing to the market’s growth.

Key Strategies to Gain Success in the Global Nuts Industry

Key players are closely working with restaurants and hotel chains to supply high-quality nuts for their recipes. Additionally, the leading players are expanding their presence by developing a dependable distribution channel to ensure product quality.

As new players enter the market space, the competition is set to increase. This is encouraging innovation in product items and constant upgrades in existing product lines. Companies are expected to elevate their market position via mergers and acquisitions, partnerships, agreements, and joint ventures.

Recent Developments in the Nuts Market

• In November 2022, Blue Diamond announced a limited-edition Peppermint Cocoa and Snickerdoodle-flavored almonds for the holiday season.
• In July 2023, IGA’s Exclusive Brands introduced a line of nut assortments, including almonds, peanuts, cashews, and mixed nuts. By this launch, the company aims to tap the rising consumer demand for at-home snacking options.
• In June 2022, Blue Diamond introduced four new flavors to expand its existing product portfolio. These exciting flavors took snacking to the next level.

Profiles of Leading Manufacturers of Nuts

Company Names	Company Details
Diamond Foods, Inc.	A California-based company owned by Blue Road Capital, which is a New York-based private equity firm. The company provides high-quality, fresh, great-tasting nuts that bode well with every occasion. The product offering includes a wide variety of chop types to assist consumers in promptly developing balanced and delicious meals and tasty treats. Famous offerings by the company are Nut Coatings, Nut Pie Crusts, and Snack Walnuts.
John B. Sanfilippo and Son	The company processes and sells nut and nut-related products. These include pecans, almonds, walnuts, peanuts, pistachios, snacks, and trail mixes.
Olam International Ltd.	It is a prominent food and agri-business firm that operates in 60 countries and supplies food and industrial raw materials. The value chain of the company includes origination, farming, distribution, and processing operations. In the future, the company plans to leverage its differentiated portfolio of ‘on-trend’ foods to co-create solutions that meet consumer preference for healthier foods.

Key Players Operating in the Nuts Market

• Diamond Foods, Inc.
• John B. Sanfilippo and Son
• Kraft Foods Inc.
• Olam International Ltd
• Borges Agricultural and Industrial Nuts
• Hines Nut Company
• Mariani Nut Company
• WeAreBio
• Germack Pistachio Company
• Hampton Farms, Inc.
• Star Snacks Co., LLC
• Fresh Nuts GmbH
• Tropical Foods
• Durak Findik
• Grower Direct Nut Co. Ltd.
• Others

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
• 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product
  • 5.1. Almonds
  • 5.2. Peanuts
  • 5.3. Cashews
  • 5.4. Walnuts
  • 5.5. Hazelnuts
  • 5.6. Pistachios
  • 5.7. Others
• 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Distribution Channel
  • 6.1. Offline
  • 6.2. Online
• 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
  • 7.1. North America
  • 7.2. Latin America
  • 7.3. Western Europe
  • 7.4. Eastern Europe
  • 7.5. South Asia and Pacific
  • 7.6. East Asia
  • 7.7. Middle East and Africa
• 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 15. Key Countries Market Analysis
• 16. Market Structure Analysis
• 17. Competition Analysis
  • 17.1. Diamond Foods, Inc.
  • 17.2. John B. Sanfilippo & Son
  • 17.3. Kraft Foods Inc.
  • 17.4. Olam International Ltd.
  • 17.5. Borges Agricultural & Industrial Nuts
  • 17.6. Hines Nut Company
  • 17.7. Mariani Nut Company
  • 17.8. WeAreBio
  • 17.9. Germack Pistachio Company
  • 17.10. Hampton Farms, Inc.
  • 17.11. Star Snacks Co., LLC
• 18. Assumptions & Acronyms Used
• 19. Research Methodology