Tree Nuts Companies
Tree nuts are nutrient-rich, edible seeds enclosed in hard shells on the branches of certain trees. Varieties include almonds, walnuts, and cashews. They are prized for their taste, texture, and health benefits.
Tree nuts are nutrient-rich, edible seeds enclosed in hard shells on the branches of certain trees. Varieties include almonds, walnuts, and cashews. They are prized for their taste, texture, and health benefits.
The tree nuts market has witnessed substantial growth driven by the increasing consumer awareness of the health benefits associated with nut consumption. Key players in this sector are strategically positioning themselves to capitalize on the rising demand for tree nuts as a part of healthy diets. This analysis provides insights into the key players, strategies adopted, factors influencing market share, emerging companies, industry trends, overall competitive scenario, and a recent development in 2023.
Key Players:
Olam International Ltd
Diamond Foods Inc.
Mariani Nut Company Inc.
Blue Diamond Growers
Select Harvests Limited
Waterford Nut Co. Inc.
Strategies Adopted:
Market Share Analysis:
News & Emerging Companies:
Industry Trends:
Recent industry developments highlight a growing trend towards digitalization and technology adoption in nut farming. Major players are investing in smart farming technologies, data analytics, and precision agriculture to optimize crop management, enhance yield, and reduce environmental impact.
In terms of investment trends, companies are exploring innovations in packaging to improve sustainability and reduce waste. The use of eco-friendly materials and packaging designs that extend the shelf life of tree nuts while minimizing environmental impact are common investment trends in the industry.
Competitive Scenario:
The competitive landscape of the tree nuts market is dynamic, with established players adapting to evolving consumer preferences and emerging companies exploring sustainable and technology-driven approaches. The focus on global expansion, product diversification, sustainability, and efficiency in the supply chain remains central to the overall competitive scenario.
Recent Development
The tree nuts market was the increased emphasis on traceability and transparency. Major players introduced initiatives to provide consumers with detailed information about the sourcing, cultivation, and processing of tree nuts. This transparency initiative aims to build consumer trust, address concerns related to sustainability and ethical practices, and meet the growing demand for clear information about the origin of food products. Companies invested in marketing campaigns highlighting their commitment to transparency, contributing to greater consumer awareness and informed choices in favor of sustainably sourced tree nuts. This development reflects the industry's recognition of the importance of transparency in building consumer trust and aligns with the broader trend towards responsible and ethical food production.
Global Tree Nuts Market Overview
Tree Nuts Market Size was valued at USD 49,947.72 million in 2022. The Tree Nuts market industry is projected to grow from 2022 to USD 86,314.80 million by 2030, exhibiting a compound annual growth rate (CAGR) of 7.15% during the forecast period (2023 - 2030). The growth of the Tree Nuts Market can be attributed to rising consumer demand for healthy and nutritive foods and the adoption of veganism. The widespread application of tree nuts in bakeries and confectionery, breakfast cereals, and butter and spreads is expected to drive market growth. Moreover, the rising prevalence of nut allergies among consumers is expected to restrict the growth of the tree nuts market at a global level. The rapidly growing organic industries and increase in literacy about the healthy organic food and concern about the health are mainly driving the market growth. The changing consumer behavior patterns for food and beverages globally is also one of the factors that affect the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Tree Nuts Market Trends
Nuts are a rich source of protein, fiber, and other essential nutrients leading to their use in healthy snack products. Increasing health consciousness is driving the adoption of snacks that are rich in protein, fiber, vitamins, and healthy fats. Moreover, consumers tend to experiment with snack choices, which has influenced the key market players to introduce various flavors in their tree nut products. For instance, the sale of cashew nuts has increased with the introduction of innovative flavors such as pepper and salt, honey sugar, and chocolate. Furthermore, Blue Diamond Growers offers oven-roasted coffee almonds under the café mocha flavor segment. Thus, the introduction of flavored nuts is driving the demand for tree nuts in nutritive snacks. The processing and addition of flavor also results in increased shelf life and enhanced appearance of tree nuts. The growing application of tree nuts in various snack products is boosting the overall growth of the market. For instance, almonds are used as a popular addition to cookies, protein bars, and energy bars. Changing lifestyles, a growing working population, and the rising demand for meal replacements are contributing to the increased demand for nutritional snacks, which is driving the growth of the Tree Nuts Market.
Tree Nuts Market Segment Insights:
Tree Nuts Product Type Insights
The Tree Nuts Market segmentation, based on product type, includes Cashew Nuts, Walnuts, Almonds, Pistachios, Hazelnuts, Chestnuts, Brazil Nuts, Macadamia Nuts, and others. The Almonds segment accounted for the largest market share of 28.18% in 2022 and is likely to register a CAGR of 7.68% during the projected period. The almond tree is native to South-Western Asia and is popular for its edible seed. The US is the largest producer of almonds in the world. Almonds thrive in a climate that has mild, wet winters and hot, dry summers. It is a versatile tree nut and is available in various forms such as whole, blanched, slivered, flaked, and ground. Almonds are packed with vitamins, minerals, antioxidants, and phytochemicals beneficial for health. There are mainly two varieties of almonds, sweet and bitter. Sweet almonds are edible and used in cooking or as a source of oil or meal whereas, the oil of bitter almonds is used in manufacturing flavorings and extracts for foods and liqueurs after the removal of prussic acid.
Figure 1: Tree Nuts Market, by product type, 2022 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Tree Nuts Form Insights
The Tree Nuts Market segmentation, based on form, includes Whole, Splits, Others. The whole segment accounted for the largest market share of 69.8% in 2022. Most tree nuts including almonds, cashews, and walnuts, are consumed whole. The high demand for whole tree nuts can be attributed to their widespread consumption directly or for culinary purposes. Tree nuts are also consumed as snacks, wherein the whole form is marketed with innovative flavors. The whole segment accounted for the largest share of 69.85% in 2022 and is projected to exhibit the highest CAGR of 7.35% during the forecast period.
Figure 2: Tree Nuts Market, by form, 2022 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Tree Nuts Application Insights
The Tree Nuts Market segmentation, based on application, includes Direct Consumption/Culinary Purpose, Bakery & Confectionery, Breakfast Cereals, Snacks, Flavored Drinks, Butter & Spreads, Dairy Products, and others. The Bakery & Confectionery segment held the majority share in 2022 with respect to the Tree Nuts Market revenue. Tree nuts find widespread application in the bakery & confectionery segment. They are used in the form of flour, chunks, split, or whole. Tree nuts are used as an active ingredient or as toppings for bakery products such as cakes, pastries, and cookies. The rising demand for meal replacement bars such as energy, snacks, and yoga bars has influenced the demand for tree nuts in the confectionery segment. The growth of the bakery and confectionery industry is driving the demand for tree nuts in this segment. The bakery & confectionery segment accounted for the largest market share of 30.21% in 2022 and is projected to register the highest CAGR of 8.02% during the forecast period.
Figure 3: Tree Nuts Market, by Application, 2022 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Tree Nuts Distribution Channel Insights
The Tree Nuts Market segmentation, based on distribution channels, includes B2B and B2C. The B2B segment accounted for a higher market share in 2022 and is expected to witness the highest CAGR. Business-to-consumer (B2C) refers to the practice of offering products and services directly to consumers who will utilize them in the long run. B2C enterprises are the businesses that sell directly to consumers. The onset of covid-19 has increased the usage of tree nuts for making cakes in household which is usually considered under B2C channel and further contributes to its segmental growth.
Figure 4: Tree Nuts Market, by Distribution Channel, 2022 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Tree Nuts Region Insights
The Tree Nuts Market segmentation, based on region, includes North America, Europe, Asia-Pacific, Rest of the World. The Asia Pacific region accounted for a higher market share in 2022 and is expected to witness the highest CAGR. Asia-Pacific is expected to be the largest tree nuts market, in terms of value and volume, during the forecast period. The regional market is projected to register a growth rate of 7.83% during the review period of 2023 to 2030.The growth of the tree nuts market in Asia-Pacific can be attributed to rapid urbanization and the growing middle-income population driving the demand for healthy food & beverages. Moreover, the increasing per capita disposable income has led to the rising sales of tree nuts. Consumers are ready to pay a premium for functional food & beverages that incorporate tree nuts. The rising health awareness in the region is also driving market growth with key processors of tree nuts targeting the region to enhance sales volumes.
Figure 5: TREE NUTS MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The North American tree nuts market accounted for 26.1% of the total market share in 2022 and is projected to register a growth rate of 8.18% during the forecast period. The expanding product portfolios of key manufacturers are a significant factor in the growth of the market in the region. Innovation in flavors of various beverages is also expected to positively impact the growth of the market in North America. Moreover, the bakery and confectionery industry, where tree nuts are used extensively, has witnessed impressive growth over the last few years. Europe is a lucrative market for tree nuts processors. The regional market accounted for 21.8% of the total market share in 2021 and is projected to register moderate growth during the forecast period. The growth of the tree nuts market in Europe can be attributed to the increasing consumption of healthy nutritive food & beverages and high demand for natural and organic products. The market in the rest of the world includes South America, the Middle East, and Africa. The tree nuts market in the rest of the world is expected to reach USD 9,753.36 million by the end of 2030 at a CAGR of 6.03%.
Tree Nuts Key Market Players & Competitive Insights
The Tree Nuts Market is expected to register a notable growth rate during the forecast period. The rapidly growing organic industries and increase in literacy about the healthy organic food and concern about the health are mainly driving the market growth. The changing consumer behavior patterns for food and beverages globally is also one of the factors that affect the market growth. Nevertheless, the growing fast-paced lifestyle and increasing consumption of packaged food & beverage products, several industry players are focusing on launching novel beverages with innovative nutty flavors, creates a great opportunity for market players in the global market for upcoming years. The Market Key players are focused on lowering their environmental footprint and investing in research and development along with strategic growth initiatives such as acquisitions and product launches to strengthen their market position and capture a large consumer base.
Key Companies in the Tree Nuts market include
Tree Nuts Industry Developments
April 2022: Olam food ingredients (“ofi”) announces acquisition to expand its private label capabilities in North America
December 2021: With this acquisition, ADM adds an experienced and successful team of 60 colleagues who serve a growing list of food and beverage customers across Latin America and the Caribbean with a wide range of flavor ingredients and solutions from two state-of-the-art manufacturing facilities in Panama and Colombia.
Tree Nuts Market Segmentation:
Tree Nuts Product Type Outlook
Tree Nuts Form Outlook
Tree Nuts Application Outlook
Tree Nuts Distribution Channel Outlook
Tree Nuts Regional Outlook
Tree Nuts Market Highlights:
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