All edible nuts have different nutritional credentials and offer multiple health benefits. Edible nuts have gained popularity in recent times as a healthy alternative to comfort foods. FMI estimates global edible nuts volume to cross 44.5 million MT in 2016, representing a market value of over US$ 70.47 Bn in the same year.
In 2013, The International Nut and Dried Fruit Council Foundation (INC) published a magazine named ‘Health & Nuts’. In this magazine, it highlighted how the incidences of major cardiovascular diseases could be prevented with the help of a Mediterranean diet supplemented with edible nuts. The magazine was available at no cost for health professionals. This was done with an aim to spread the health message among people regarding the benefits of nut consumption.
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Edible Nuts Market: Analysis
In addition to the direct consumption of edible nuts, the demand for edible nuts for usage in the production process of spreads, confectionery fillings & bars, gravy, and salad dressings is also growing. “Consumer sentiment on edible nuts is overly positive, as edible nuts are known to be beneficial in managing various health issues such as high blood pressure, metabolic syndrome, and visceral adiposity. Manufacturers are aware of the favourable consumer perception towards various edible nuts, and are incorporating edible nuts as active ingredients in their product offerings”, says FMI.
Among the end-use sectors analysed in the global edible nuts market report, confectionery and bakery is the largest end-use sector in the edible nuts market, and is expected to account for over 29% of global demand in 2016. Demand for edible nuts from confectionery and bakery segment is expected to reach 12.5 million MT in 2016, a 7% increase from the previous year.
Among the different product types analysed in the edible nuts market report, peanuts are the most preferred edible nuts segment, with an expected volume share of 90% in 2016. Future Market Insights (FMI) estimates global peanut production to cross 40 million MT by 2016, an increase of 5.3% in 2016 over 2015.
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China is a key supplier of edible nuts, and will continue to remain a major producer and exporter of peanuts, with total peanut production estimated at 14.3 million MT in 2015. Fluctuations in peanut production in China have a global impact, especially in Europe, which is mostly dependent on the import of peanuts. In 2014, the total consumption of almond in the Asia Pacific excluding Japan region stood at 165,073.8 MT, which is expected to increase to 307,164.7 MT by 2025. This segment is expected to expand at a CAGR of 6.0% in terms of volume consumption in the edible nuts market over the forecast period.
Diamond Foods, Inc., Archer Daniels Midland Company, Olam International Ltd., and Select Harvests Limited are the market leaders in the global edible nuts market. The global edible nuts market is highly fragmented, with the top 10 players accounting for nearly 23% revenue share of the global edible nuts market. Leading companies in the edible nuts market are looking to expand their production capacity and launch new product offerings in a bid to cater to the growing demand for edible nuts across the globe. The rapidly growing middle-class population in emerging economies such as Brazil, China, and India remains a key target audience for edible nut manufacturers. In May 2015, Archer Daniels Midland Company acquired North Star Shipping and Minmetal on the Black Sea. This acquisition was done with a view to expand its market presence in the Eastern European and the Middle Eastern and African regions.