Tree Nuts Market Outlook
Almonds, cashews, walnuts, pistachio, pecans, etc. are all varieties of tree nuts. Tree nuts are an excellent source of fiber, proteins, vitamins, monounsaturated fats and polyunsaturated fats such as omega 3 and omega 6. Tree nuts also contain minerals like potassium, sodium, magnesium, and calcium. Tree nuts are majorly used as food ingredients and snacks. Tree nuts market is segmented into variety, product type, nature, and sales channel.
Increase in the Prevalence of Cardiovascular Diseases is anticipated to Boosts the Tree Nuts Market
Tree nuts provide a variety of health benefits which is anticipated to serve as one of the drivers for the tree nuts market. In recent years, the consumer inclination towards the use of healthy snacks has increased. The consumers prefer the use of highly nutritive products without any compromise on the taste of the product, and thus, the tree nuts serve as an excellent option as a healthy snack. Tree nuts provide key nutrients and proteins, maintain cholesterol levels, and reduces the blood pressure. Almonds are a rich source of calcium, fiber, magnesium and vitamin E. The demand for convenience is also anticipated to serve as one of the drivers for tree nuts market.
The rise in the occurrence of cardiovascular diseases is anticipated to boost the sales of tree nuts. In 2017, cardiovascular diseases were the number one cause of death all across the globe and in 2016, around 17.9 million people died from cardiovascular diseases. The research studies have indicated that tree nuts can improve heart health and decrease the risk of cardiovascular diseases. Tree nuts aid in the reduction of bad cholesterol, which form plaques in the blood vessels, which further increases the risk of heart diseases. Thus, the increase in health-awareness among the consumers is anticipated to boosts the sales of tree nuts to prevent cardiovascular diseases and to maintain a healthy lifestyle. Therefore, the rise in the prevalence of cardiovascular diseases is anticipated to drive the sales of tree nuts.
The fluctuation of prices and increase in the allergy for nuts are anticipated to serve as a major restraint for the tree nuts market. In 2018, the price of unshelled cashew nuts had decreased by around 25%. One of the reasons for the decrease in the prices was due to the increase in the number of market players. Thus, the fluctuation in tree nut prices is anticipated to serve as a restraint for its market. Also, the availability of other economically feasible substitutes such as sesame seeds, sunflower seeds, hemp seeds, etc. are estimated to hinder the growth of tree nuts market. According to Food Allergy Research & Allergy (FARE) organization, tree nuts are among the major eight food allergens. The allergy for tree nuts is most common among the children. Tree nuts allergy is generally lifelong. Thus, the allergy for tree nuts is expected to hamper its growth.
Tree Nuts Market Segmentation
The tree nuts market can be segmented on the basis of variety, product type, nature, end-use, and sales channel:
On the basis of variety, the tree nuts market can be segmented as:
- Others (Hazel Nuts, Mixed Nuts, etc.)
On the basis of product type, the tree nuts market can be segmented as:
On the basis of nature, the tree nuts market can be segmented as:
On the basis of end-use, the tree nuts market can be segmented as:
- Food and Beverage Processing
- Bakery and confectionery
- Ice-creams and Desserts
- Breakfast Solutions
- Milkshakes and Other Beverages
- Other Food and Beverage Processing
- Functional Foods
- Foodservice/HoReCa (Hotels/Restaurants/Café)
On the basis of the sales channel, the tree nuts market can be segmented as:
- Direct Sales
- Indirect Sales
- Convenience Stores
- Specialty Stores
- Online Retailers
Tree Nuts Market: Regional Analysis
Asia Pacific region has the fastest growing population in the world. India and China are among the top five countries that have the highest youth population all across the world. Also, the change in the lifestyle, increase in income, busy lifestyle and increase in the number of working women are some of the factors that have increased the demand for healthy snacks, and thus, is estimated to have a positive impact on tree nuts market in the Asia Pacific region.
Tree Nuts Market: Key Participants
Some of the key market players in the tree nuts market are:
Golden Peanut Company, LLC,Sun Valley Nut, LLC,Felix GmbH & Co. KG,Poindexter Nut Company, Inc.,Summit Premium Tree Nuts,Plantabul Ltd.,Tree Nuts International & Hines Nut Company
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