Nut ingredients are comprised of nuts such as hazelnut, almond, cashew, walnuts, pecans, peanuts,Pine nuts, soy nuts, sunflower nuts, and others. The global nut ingredients market is expected to raise at a CAGR of 5.3%. Nuts ingredients are very useful in product formulations, and hence they are considered a preferred choice for food manufacturers. Nut ingredients provides an important source of nutrients to consumers as they offer both taste and impart health benefits to consumers. Many manufacturers are offering new product innovations with almonds along with all other food introductions with nuts such as cashew nut, peanuts, hazelnuts, and walnuts. The food categories in which nut ingredients are used includes bakery products, snacks & bars, beverages, cereals, confectioneries, desserts, and dairy products.
Nuts are type of oily kernels which is present within a shell of the fruit and is used in various food products worldwide. Mostly seeds are taken from various fruits that are not present in the shell of the fruit such as hazelnuts, chestnuts, and others, that has hard shell walls and are originated from compound ovary of the fruit.
Global Nut Ingredients: Market Segmentation
The global nut ingredients market is segmented on the basis of type, application, form and region. The nut ingredients market is segmented on the basis of type such as hazelnut, walnut, almond, peanut, pecan, soy nut, and others. The global nut ingredients market is segmented on the basis of form type in which nut ingredients are available in roasted form and unroasted form. Manufacturers are offering various nut-based products in roasted form, which is seen as a growing trend in the global nut ingredients market. The global nut ingredients market is segmented on the basis of application in which nuts are used in various food products such as snacks which includes extruded snacks, crisps, tortillas and others. The other applications include confectioneries, dairy products, bars, cereals, and others. Hence, the global nut ingredients market is expected to significantly increase the revenue contribution over the forecast period.
Global Nut Ingredients Market: Regional Outlook
Geographically, the global nut ingredients industry can be divided by major regions which include North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Globally, among all regions, North America has developed as the dominant region in global nut ingredients market followed by Europe and Asia Pacific. India and China are witnessed as emerging markets in the global nut ingredients over the forecast period. Increasing snacking and confectionery industry and demand for convenient and on-go-option snack foods, has strengthened the growth of global nut ingredients market and hence is projected to significantly expand the revenue contribution of the market over the forecast period.
Global Nut Ingredients Market: Growth Drivers
The global nut ingredients market driving factors are increasing demand for ready-to-eat snack foods coupled with convenience of foods. Increasing opportunities in snacks and confectionery industry is also another factor in driving the nut ingredients market along with rising number of varieties and flavors in nut ingredients snacks with introduction of variety of nuts such as walnut, almond, peanut, hazelnut, pecan and others. Manufacturers are focusing on providing healthier product offerings. Growing focus on preventive health care and launching of healthier products with variety of nut ingredients is the major driving factor of the global nut ingredients market. Hence, the global nut ingredients market is expected to observe robust growth over the forecast period.
Global Nut Ingredients Market: Key Players
Some of the key players identified across the value chain of the global nut ingredients market include Kanegrade Limited, Archer Daniels Midland Company, Bredabest, Olam International, Terri Lynn, Inc., H.B.S. Foods Ltd., CACHE CREEK FOODS, ROYAL NUT COMPANY, Helios Ingredients, Bergin Friut and Nut Company, Wenders, and The Hershey Company. The companies are expected to expand their business by enhancing their product portfolio in global nut ingredients market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global nut ingredients market till 2025.
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