Edible Nuts Market Insights:
Edible nuts have shot into the spotlight as they are nutritionally dense and offer consumers protein, fiber, minerals, and several other trace compounds that contribute to a healthy body. Market Research Future's report on the global edible nuts market for the forecast period of 2023 to 2032 reveals several key facts and figures about the market. The market's optimistic outlook is likely to result in expansion of the present market value of edible nuts.
In Canada Edible Nuts Market reflects the nation's diverse culinary influences and growing interest in healthy, natural snacks. From almonds to pecans, Canadians enjoy a wide variety of nuts for their taste, texture, and nutritional benefits. The market's growth is driven by factors such as increasing awareness of the health benefits of nuts, including their high protein and healthy fat content. Moreover, the rise of vegetarian and vegan diets, as well as the demand for gluten-free and paleo-friendly snacks, has further boosted the consumption of edible nuts. As manufacturers introduce new products and flavors to cater to evolving consumer tastes, the Canadian market for edible nuts presents significant opportunities for growth and innovation.
The Edible Nuts Market Size was valued at USD 210.69 billion in 2022. The Edible Nuts market industry is projected to grow from USD 222.48 Billion in 2023 to USD 344.04 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.60% during the forecast period (2023 - 2032).
Edible nuts are high in mono-unsaturated fatty acids (MUFA), which are some of the healthiest fats one can consume. MUFA-rich food is often recommended to those looking to lose weight as it provides a lasting full feeling, thus resulting in reduced snacking and an overall reduction in the intake of calories. Moreover, healthy fats have been highly recommended to patients with coronary diseases and other diseases. Protein content in nuts is another factor driving demand, particularly among the health conscious. Global shift toward mindful eating, and health consciousness due to the dramatic rise in chronic diseases has increased the demand for edible nuts. Moreover, veganism has been on the rise and innovation in product offering for this expanding demographic has resulted in the use of nuts to make dairy alternatives. Almonds and cashews are commonly used to make nut milks and yogurt substitutes. Cashew is used for making dairy-free cheese substitutes, cream substitutes and other dairy alternatives. With the increasing demand for vegan products, the market is likely to witness further expansion in the coming years. Nuts have been highly popular in the F&B industry, being used in cooking, bakery products, confectionery and several other areas. The growth of this industry due to increasing demand from a rising population with more purchasing power is also expected to impact the market positively.
Edible nuts are climate dependent, and several challenges in the production of nuts may restrain the market. Prices are volatile depending on production. For instance, recent droughts in California led to a significant increase in the price of almonds.
Key Players:
MRFRs analysis of the global Key Edible Nuts Market Players includes prominent players such as Mariani Nut Co., Blue Diamond Growers, Arcer Daniels Midland Co., Olam International, Diamond Foods, Waterford Nut Co., Select Harvests Ltd, KP Nuts, Acomo, and John B. Sanfilippo & Son, Inc.
Market Segmentations:
MRFR's report analyses the various parts of the market which contribute to the whole. As such, the global Edible Nuts Market has been segmented on the basis of type, form, application, and region. Various types of edible nuts include cashew nuts, almonds, chestnuts, pistachios, hazelnuts, brazil nuts, and others. Edible nuts are available in various forms which include whole, powder, split, and others. Applications for edible nuts include direct consumption/culinary purpose, bakery & confectionery, breakfast cereals, snacks, beverages, dairy products, and others.
Latest Industry News:
• Crookes Brothers South Africa are increasing their macadamia nut production to meet growing demand. Investments in land are being made to this effect.
• Doehler has acquired Nutrafood in an effort to increase its penetration into nut-based food categories which are being highly popular such as bread spreads, and dairy alternatives.
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