NEWARK, Del, Jan. 10, 2024 (GLOBE NEWSWIRE) -- As the World Goes Nuts about Nuts, Edible Nuts Market to Surpass US$ 191.3 Billion by 2033 Nowadays With CAGR of 7.9%, consumers worldwide are considering nutrient-rich and healthy foods for maintaining fitness and preventing diseases. As a result, edible nuts have become popular due to their high content of antioxidants, proteins and multiple essential vitamins. The popularity of whole nuts is particularly soaring for their applications across businesses specializing in baked products, confectionery, and desserts.
Consumers who regularly visit gyms for body building and general fitness purposes are increasingly turning to nuts. In recent years, several establishments in the food service sector have also added nuts to their respective menus to cater to the significant demand for nut-based preparations from such consumers.
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Lately, global digital transformation has facilitated quick expansion of a wide range of industries in the worldwide market. With the escalating use of the internet among customers, multiple companies in the market for edible nuts are choosing to promote and sell products via online sales channels. Consumers are also increasingly preferring to buy edible nuts online due to convenience. This is providing manufacturers with further encouragement to cement their positions across several online sales channels. Food service platforms and specialty stores are also likely to contribute to driving edible nut sales between 2023 and 2033.
Key Takeaways from the Edible Nuts Market Study
- According to Future Market Insights (FMI), the global market for edible nuts is likely to register a US$ 89.7 billion in 2023.
- From 2023 to 2033, the global market for edible nuts is anticipated to record acceleration at a robust 7.9% CAGR.
- In 2033, the global market for edible nuts is slated to be valued at US$ 191.3 billion.
- In North America, the United States is poised to emerge as the biggest contributor to the expansion of the regional market.
- In Europe, Germany market for edible nuts is projected to perform well owing to its status as a leading importer of cashew nuts.
- In Asia Pacific, India is likely to outperform other markets owing to the cultural importance of nut consumption in the country.
“Owing to rising internet penetration worldwide, it is likely that more consumers will get to know about the health benefits of edible nuts. As a result, thousands of consumers are expected to start incorporating nuts into their daily diets from 2023 to 2033.” - Nandini Roy Choudhury, Client Partner at Future Market Insights
Who is winning?
Several top manufacturers of edible nuts are focused on offering edible nuts at affordable prices. Different companies are leveraging integrated production approaches to ensure the availability of cost-effective edible nuts products. The ultimate objective of leading players is to expand their production capacities and establishing themselves as forces to be reckoned with.
- Archer Daniels Midland Company
- Diamond Foods, Inc.
- Olam International Ltd
- Blue Diamond Growers
- Mariani Nut Company
- Select Harvests Limited
- Durak Findik
- Grower Direct Nut Co. Ltd
- Sun-Maid Growers of California
- Hines Nut Company
- John B. Sanfilippo & Son
- Borges Agricultural & Industrial Nuts
- The Wonderful Company LLC
- Germack Pistachio Company
- Nichols Farms
- Setton Pistachio of Terra Bella Inc.
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Edible Nuts Market by Category
By Product Type:
- Cashews
- Almonds
- Pistachios
- Peanuts
- Chestnuts
By Nature:
- Organic
- Conventional
By Form:
- Whole
- Plain
- Roasted
- Salted
- Powder
- Splits
By End-Use:
- Food service industry
- Household
By Distribution Channel:
- Store-Based Retailing
- Hypermarkets /Supermarket
- Convenience Stores
- Specialty Stores
- Online Retail
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
About the Food & Beverage Division at Future Market Insights
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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