The competitive landscape of the edible nuts market is characterized by intense rivalry among key players, each vying for a larger slice of the market share. The market, driven by increasing consumer awareness of the health benefits associated with nut consumption, has witnessed substantial growth over the past few years.
Key players in this domain include
- Archer Daniels Midland
- Blue Diamond Growers
- Diamond Foods, LLC
- Farm Breeze International LLC
- GNC Nut Company AG
- John B. Sanfilippo & Son, Inc.
- Mariani Nut Co.
- Olam International
- Select Harvests Ltd
- Waterford Nut Company
Strategies Adopted:
To gain a competitive edge, companies have adopted various strategies, including product innovation, strategic partnerships, and mergers and acquisitions. Archer Daniels Midland Company, for instance, has focused on expanding its product portfolio by introducing new nut-based snacks to cater to evolving consumer preferences. Olam International has pursued an aggressive expansion strategy through acquisitions, strengthening its position in key markets. Diamond Foods, Inc. and Blue Diamond Growers have concentrated on developing strategic partnerships with retailers to enhance their distribution networks.
Market Share Analysis Factors:
Market share analysis in the edible nuts sector is influenced by several factors. Product quality, pricing strategies, distribution channels, and brand recognition play crucial roles in determining the market share of each player. Additionally, the ability to adapt to changing consumer preferences, sustainable sourcing practices, and compliance with regulatory standards contribute significantly to market share dynamics. Companies with a strong global presence and diversified product portfolios tend to command a larger market share, as they can cater to a broader consumer base.
New & Emerging Companies:
In recent years, new and emerging companies have entered the edible nuts market, challenging established players. These entrants often bring innovative approaches to production, packaging, and marketing, disrupting traditional market dynamics. Start-ups like Nutty Ventures and Healthful Harvest have gained traction by focusing on organic and sustainably sourced nuts, appealing to a growing segment of environmentally conscious consumers. While these new entrants may not pose an immediate threat to industry giants, their agility and fresh perspectives contribute to the overall competitive landscape.
Industry Trends:
Industry news and current company investment trends shed light on the dynamic nature of the edible nuts market. Companies are increasingly investing in research and development to introduce novel nut varieties and flavors, aligning with changing consumer preferences. Additionally, investments in sustainable and ethical sourcing practices are gaining prominence, as consumers demand transparency and ethical responsibility from the companies they support. These trends reflect a broader shift towards more conscientious consumerism and the recognition of the impact of business practices on the environment.
Competitive Scenario:
The overall competitive scenario in the edible nuts market is shaped by global economic conditions, geopolitical factors, and the evolving regulatory landscape. Trade tensions, climate change, and supply chain disruptions can have profound effects on the industry, forcing companies to adapt and reassess their strategies. Furthermore, the ongoing technological advancements in agriculture, processing, and packaging contribute to the competitive dynamics by influencing operational efficiency and cost structures.
Recent Development
Notable developments have unfolded in the edible nuts market. The industry has witnessed increased consolidation through mergers and acquisitions, with major players acquiring smaller firms to strengthen their market position. Mariani Nut Company, for instance, acquired a regional nut processor to enhance its presence in a specific geographic market. These strategic moves indicate a concerted effort by established players to solidify their foothold and eliminate potential competitors.
In response to the growing demand for healthier snack options, companies have intensified their efforts to develop innovative nut-based products. From flavored and seasoned nuts to convenient on-the-go nut snacks, market players are diversifying their offerings to capture a wider consumer base. This diversification is driven by the recognition that consumer preferences are not homogenous, and catering to diverse tastes is essential for sustained growth.
Investment trends reveal a focus on sustainability initiatives across the edible nuts industry. Companies are allocating resources to implement eco-friendly practices in farming, processing, and packaging, aligning with the global push towards environmental responsibility. These investments not only reflect a commitment to corporate social responsibility but also respond to the increasing consumer demand for ethically sourced and environmentally friendly products.
Edible Nuts Market Highlights:
Global Edible Nuts Market Overview
The Edible Nuts Market Size was valued at USD 222.49 billion in 2023. The Edible Nuts market industry is projected to grow from USD 234.94 Billion in 2024 to USD 344.04 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.88% during the forecast period (2024 - 2032). Growing understanding of the health advantages of edible nuts and increasing usage of nuts to add flavors and textures, particularly pistachios and chestnuts, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Edible Nuts Market Trends
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An increase in the adoption of a healthy lifestyle is driving the market growth
Consumption of edible nuts has grown due to consumers adopting a healthier lifestyle, which is the market driver for edible nuts. The consumption of nuts, including walnuts, almonds, pistachios, hazelnuts, and cashew nuts, has increased significantly due to consumers being more careful of their intake and diet. Thus, over the projected 2021–2026, the market expansion of edible nuts is largely driven by the increased adoption of a healthy lifestyle. Individuals must engage in additional activities to maintain their fitness levels. A well-balanced diet that can provide enough nourishment is also essential to good health. Protein, carbs, vitamins, minerals, and fiber are abundant in nuts. Consumer knowledge of these benefits of nuts increased dramatically between 2018 and 2022, which caused the edible nuts market to grow at a favorable CAGR of 8.7%.
The expected 7.9% CAGR from 2023 to 2033 is a little slowdown in the pace of market acceleration compared to the 8.7% CAGR seen by FMI between 2018 and 2022, which was 8.7% CAGR. However, this shouldn't discourage companies from expanding their manufacturing capabilities on the worldwide market for edible nuts. Thus, this factor is driving the market CAGR.
The easiest places to get edible nuts are through retail sales channels like supermarkets and hypermarkets, especially for upper- and middle-class consumers. However, smaller grocery stores are preferred for purchasing edible nuts among low-income people. Famous retail giants like Walmart and Costco actively promote the consumption of nuts by stocking shelves with edible nuts and providing alluring discounts. Research from FMI predicts that the consumption of edible nuts will rise in advanced economies, including the United States, Germany, and Spain. Industry participants may expect profitable prospects from developing economies like Brazil and India in the upcoming years.
Due to their exceptional qualities, including their prolonged shelf life, crunchiness, and high nutritional content, edible nuts are projected to increase demand as an ingredient, opening up new business prospects. They are frequently used in artisan crackers, ice cream, pastries, yogurt, and other products. Thus, it is anticipated that the market will rise shortly due to the expanding usage of edible nuts as a component in different culinary items. The market for edible nuts is anticipated to benefit from manufacturers' increased usage of edible nuts in chocolates to improve the product's flavor. For instance, as part of a new line called More, Nestlé produced new KitKat and Yorkie chocolate bars in the UK and Ireland in September 2019. Both bars contain fruit and nuts, and the cereal has more protein, fiber, and sugar-free content than chocolate bars of the same caloric content. Thus, this aspect will accelerate edible nuts market revenue globally.
Edible Nuts Market Segment Insights
Edible Nuts Type Insights
The edible nuts market segmentation, based on type, includes cashew nuts, almonds and others. The cashew nuts segment dominated the market, accounting for 35% of market revenue (78.48 billion). This is mostly due to consumers' changing dietary habits, which enhance their desire for cashew nuts due to their many advantages, including their low-calorie content, heart-healthy fats, and many more. Additionally, as cashew nuts become more widely used in different cuisines, their popularity grows due to increased market expansion and improved food quality.
Figure 1: Edible Nuts Market, by Type, 2022 & 2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Edible Nuts Application Insights
Based on application, the edible nuts market segmentation includes direct consumption/culinary purpose, bakery & confectionery and others. The bakery & confectionery category generated the most income. This is mostly because producers create different energy bars with a range of edible nuts and offer various health advantages, improving customer demand and driving market development.
Edible Nuts Form Insights
Based on Form, the Edible Nuts industry has been segmented into Whole, Powder, Split and others. The sector as a whole is anticipated to be the fastest-growing market among them from 2022 to 2032. They are an excellent energy source since they are very caloric-dense and contain important unsaturated and monosaturated fats. They are used to make snacks like trail mixes and Scroggins, commonly brought by families on road trips, treks, and other outdoor activities.
Edible Nuts Regional Insights
By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American edible nuts market accounted for USD 96.49 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. Due to factors including the widespread usage of nuts like American beech and maize for their fat and starch content, the edible nut market in North America is expected to have the fastest development throughout the anticipated period. Using nuts in the Region for meals and oils has led to significant market expansion throughout the anticipated timeframe. Consumption of edible African-regional nuts has expanded, including the dika and kola nuts. These kinds of nuts are anticipated to fuel regional edible nuts market expansion during the anticipated period.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: EDIBLE NUTS MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Edible Nuts market shares the second-highest growth during the forecast period. As a result, Europe holds the biggest market share for edible nuts. According to estimates, demand for natural, low-sugar, and safe food items is rising in nations including the Netherlands, Germany, France, and the UK. As a result, these nations are thought to be the main markets for edible nuts in Europe. As a result, these nations fight for the highest market share for edible nuts. Further, the Germany Edible Nuts market held the largest market share, and the UK Edible Nuts market was the fastest-growing market in the European Region.
The Asia Pacific edibles nuts market is anticipated to develop at the quickest rate during the anticipated period. The increase in demand for nutrient-dense food components by health-conscious customers in this Region is attributable to the expansion. Moreover, the China Edible Nuts market held the largest market share, and the India Edible Nuts market was the fastest-growing market in the Asia-Pacific region.
Edible Nuts Key Market Players & Competitive Insights
Leading industry companies are making significant R&D investments to broaden their product offerings, which will spur further expansion of the market for Edible Nuts products. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants also engage in several strategic actions to increase their worldwide presence. The Edible Nuts industry must offer products at reasonable prices to grow and thrive in a more cutthroat and competitive environment.
One of the primary business strategies manufacturers employ in the worldwide Edible Nuts industry to benefit customers and expand the market sector is local manufacturing to reduce operating costs. The Edible Nuts industry has recently provided some of medicine's most important benefits. Major players in the Edible Nuts market, including Mariani Nut Co., John B. Sanfilippo & Son, Inc., Blue Diamond Growers, Acomo, KP Nuts, Archer Daniels Midland Co., Select Harvests Ltd, Olam International, Waterford Nut Co., and Diamond Foods, and others, are attempting to increase market demand by investing in research and development operations.
California almonds are the focus of the agricultural cooperative and marketing company Blue Diamond Growers. The firm claims to be the world's biggest tree nut processing and marketing corporation. It was established in 1910 as the California Almond Grower's Exchange. Blue Diamond Growers declared in January 2023 that it would resume selling its Chile 'N Lime Flavoured Almonds. The San Francisco-based American packaged food firm Diamond Items sold almonds and other snack items. Diamond Foods introduced organically processed, ready-to-eat Snack Walnuts in July 2020.
Agriculture-related goods, commodities, and ingredients are produced, processed, transported, stored, and marketed by Archer Daniels Midland Co (ADM). The business manufactures oilseeds, corn, wheat, and other agricultural goods as well as ingredients for food and beverages. The range of products offered by ADM includes wheat, animal feed, vegetable oil, maize sweeteners, natural flavours and colours, health and nutrition goods and biofuels. Through its grain elevator and transportation network, the company stores, cleans, and transports agricultural commodities including oilseeds, corn, wheat, milo, oats, and barley as well as other products made from these inputs.
Key Companies in the Edible Nuts market include
- Archer Daniels Midland
- Blue Diamond Growers
- Diamond Foods, LLC
- Farm Breeze International LLC
- GNC Nut Company AG
- John B. Sanfilippo & Son, Inc.
- Mariani Nut Co.
- Olam International
- Select Harvests Ltd
- Waterford Nut Company
Edible Nuts Industry Developments
- November 2020: After the COVID epidemic, Select Harvests Limited experienced greater productivity momentum as a result of an increase in edible nut output compared to 2019 due to more health-conscious consumers.
- September 2019: Nestlé debuted updated KitKat and Yorkie chocolate bars in the UK and Ireland as part of a new More collection. Both bars contain fruit and nuts, and the cereal has more protein, fiber, and sugar-free content than chocolate bars of the same caloric content.
- August 2019: Kellogg's Nutri Grain introduced Nuts & Bolts Trail Mix, its first savory snack product. The new snack has three flavors: Original Spice, Smokey BBQ, and Sweet Chilli. It combines Nutri-Grain, peanuts, and spices with sliced almonds.
Edible Nuts Market Segmentation
Edible Nuts Type Outlook
- Cashew Nuts
- Almonds
- Others
Edible Nuts Form Outlook
- Whole
- Powder
- Split
- Others
Edible Nuts Application Outlook
- Direct Consumption/Culinary Purpose
- Bakery & Confectionery
- Others
Edible Nuts Regional Outlook
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
Edible Nuts Market Highlights:
