Global Tree Nuts Market Analysis by Product Type, Application, Form, Region and segments forecast till 2033

Market Overview

The Global tree nuts market is presently worth USD 46,000 million, and is anticipated to grow to a value of more than USD 109,700 million by 2033, with a growing CAGR (compound annual growth rate) of over 11.1% from 2022 to 2033.

Report Scope

Tree nuts are tasty dried seeds or fruits produced by woody plants that have no leaves at all. These nuts are high in high-quality vegetable proteins, fibre, unsaturated fatty acids, as well as specific nutrients and minerals including vitamin E and magnesium. Market enterprises are producing creative and distinctive snacks to meet the rising demand from the millennial generation. Tree nuts have a number of health benefits, which has led to a surge in their appeal among customers.

One of the primary market drivers is the consumer inclination toward well-being. Additionally, shifting consumer behaviour patterns for food and beverages around the world are driving the market. The global demand for tree nuts is increasing, which has a substantial impact on the nut market. Almonds and cashews are two of the most popular tree nut products. Because of its health benefits and availability, almonds are very popular among consumers. As a result, almonds have a larger market penetration than other nuts. Tree nuts have grown in popularity around the world.

Drivers: Rising popularity of vegan meals will drive the market expansion

Vegan meals are becoming more popular among millennials, which is driving the industry. Because of the health benefits associated with tree nuts, the worldwide tree nut market is expected to rise. Tree nuts are becoming more popular as a snack among millennials, which is a positive trend for the sector. The purchasing power of millennials is rising all throughout the world, which will certainly help the industry grow.

Trends: Increasing utilization of tree nut oils in cosmetics will aid the market

One of the most significant trends in the tree nut business is the growing use of tree nut oils in cosmetics. Tree nuts are an excellent source of skin and hair nutrients, as well as a pain and dark circle treatment. Due to the presence of antioxidants, it is beneficial in reducing wrinkles and protecting the skin from damage. Tree nut oils are often used in anti-aging cosmetics because they help the skin retain moisture and fight ageing.

Product Type Insights

In 2021, the Almonds segment dominated the market, accounting for about 30.0 % of global sales. Almonds' delicate flavor and tasty crunch go well with a broad variety of dishes and variations. According to a report by Agri Investor, demand for almonds has been on the rise due to their popularity as a snack food and ingredient in plant-based products. This has led to a price increase for almonds, with some buyers paying up to 50% more than in previous years.

Application Insights

The Direct consumption/culinary purpose segment is slated to generate more than 25% of Tree Nuts Market share over the stipulated timeline.

Form Insights

The Whole segment rules the market with the highest market share and accounted for more than 60% of the revenue in 2021, and is projected to grow further in the upcoming years.

Regional Insights

In term of geographic region, the Global tree nuts market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America dominates the market with the highest market share. Presence of potential market leaders in the locale is one of the main considerations contributing toward the development of the Asia-Pacific market. The macadamia market is seeing strong growth in Asia, driven by increasing demand for healthy snacks and ingredients. According to a report by Nutfruit, China is the largest market for macadamia nuts, with demand expected to continue growing in the coming years.

Brazil is emerging as a major player in the global cashew market. Brazil's cashew production has been growing rapidly, driven by investments in new technology and infrastructure. This is expected to lead to increased competition in the cashew market.

Competitive Analysis

Major players competing in Global tree nuts market are Diamond Foods, Montagu Snacks, Golden Peanut and Tree Nuts, Baja, Sun Valley, Select Harvests Limited, Blue Diamonds Growers, Mariani Nut, Lone Tree Nut Company, Inc., Waterford Nut Co., and Olam Group.

·         Blue Diamond Growers, a leading almond processing and marketing company, announced plans in March 2023 to expand its operations in California's San Joaquin Valley with a new 300,000 square foot facility. The new facility will allow Blue Diamond to increase its capacity for processing and packaging almonds to meet growing demand.

·         Wonderful Pistachios & Almonds, a subsidiary of The Wonderful Company, announced in February 2023 that it had acquired a 1,100-acre pistachio orchard in California's Central Valley. The acquisition will help the company to expand its pistachio production and meet growing demand for its products.

Global Tree Nuts Market- Segmental Analysis

Based by Product Type

·         Cashew nuts

·         Walnuts

·         Almonds

·         Pistachios

·         Hazelnuts

·         Chestnuts

Based by application

• Direct consumption/culinary purpose

• Bakery and confectionery

• Breakfast cereals

• Snacks

• Flavoured drinks

• Butter and spreads

• Dairy products

Based by form

• Whole

• Split

• Others

Why to buy this Report?

The report provides quantitative and qualitative aspect for Global Tree Nuts Market in terms of value and volume, along with supporting market trends, challenges, restraints.

The report provides an in depth analysis from both Product Typeion and consumption point of view at the regional and country level. Key Factors considered within the report scope are Product Typeion capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.

The report provides competitive analysis of around 30-50 companies operated in Global Tree Nuts Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:

•             Business Model

•             Product Typeion Capacity, Revenue, Sales, Gross Margin

•             Key Business Strategy

•             SWOT Analysis

In terms of competitive landscape, the report provides distinctive factors that would help the Card Product Type in taking a key decision within the business:

•             Company Share Analysis from 2020-2022

•             Company Analysis by Revenue and Sales

•             Company Product Type Capacity, Gross Margin

•             Company Share Analysis by Card Product Type/Card Product Type

•             Company Share Analysis by Product Type/Specification