The new report by Expert Market Research titled, ‘Global Tree Nuts Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global tree nuts market, assessing the market based on its segments like product, industry, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
- Forecast CAGR (2021-2026): 5 %
Asia Pacific is the largest market of tree nuts and is expected to maintain its dominance during the forecast period as well. The growth of the market in this region can be attributed to rapid urbanization, rising disposable incomes, and increasing population. Developing economies such as India and China are anticipated to play an important role in driving the market growth. North America also holds a significant share in the global tree nuts market. The expanding product portfolios with healthy ingredients such as tree nuts, of the key industry players is a major factor of the growth of the market in this region. Also, the growing awareness about the nutritive properties and cosmetic benefits of tree nuts is projected to further lead to a significant rise in market demand in the forecast period.
Industry Definition and Major Segments
Tree nuts refer to various edible dried fruits or seeds of woody trees without leaves. They are high in unsaturated fatty compounds and rich in high quality vegetable fibers, proteins, minerals and other nutrients like magnesium and vitamin E. Common tree nuts include walnuts, almonds, pistachios, cashews, pecan, Brazil nuts, etc. The outermost shell of tree nuts is very hard and inedible while the meat inside is hard or leathery.
Explore the full report with the table of contents: https://www.expertmarketresearch.com/reports/tree-nuts-market
Based on the product, the industry is categorised into:
- Almonds
- Pistachios
- Walnuts
- Cashews
- Others
By region, the industry is categorised into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
Tree nuts have numerous health benefits which are the major drivers for the growth of the market. Some tree nuts like pistachios and almonds can also fulfill deficiency of different minerals and proteins in the human body, further contributing to their increased consumption. Tree nuts are being increasingly used in the cosmetics industry, as they can serve as an outstanding skin and hair nourishing agent. They are used to treat dark circles, discomfort, and prevent wrinkle formation. The antioxidants in the tree nuts protect the skin from environmental damage. Tree nuts are also commonly used in anti-ageing products since they help retain the skin moisture and avoid ageing. Tree nut oils and cosmetics are gaining significant prominence among women owing to their abundant benefits associated with beauty. These factors contribute to heavy usage of tree nuts in the cosmetics industry.
Almond accounts for the largest share in the tree nuts market based on type. There are two varieties of almonds that are available in the market – sweet and bitter. Sweet almonds are more widely consumed and are being increasingly used in the food industry. The use of sweet almond oil for cooking is rising, further propelling the tree nuts market. Due to their nutritive properties, there is increasing consumption of tree nuts in the food and beverages sector for bakery and confectionary products. They find extensive usage in breakfast cereals and snacks and improve the organoleptic properties of foods products, which is expected to boost the market for tree nuts. Thus, the rising demand for healthy and nutritious foods is expected to drive the demand for tree nuts in the coming years. The growing adoption of veganism also offers lucrative opportunities for companies to enter the market and further the drive the market growth. Increasing consciousness among consumers and animal activism is expected to contribute significantly to the tree nuts market in the forecast period. However, the prevalence of nut allergies is likely to hinder the growth of the market to an extent.
Key Market Players
The major players in the market are Archer Daniels Midland Company, Blue Diamond Growers, Mariani Nut Co., Olam International Ltd., Select Harvests Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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