Edible Nuts Market - Forecast (2022 - 2027)

The Edible Nuts Market based on Product Type can be further segmented into Cashew Nuts, Walnuts, Almonds, Chestnuts, and Others. The Cashew Nuts segment is the major segment generating revenue in 2020. This is mainly owing to changing dietary patterns of consumer’s increases the preference of cashew nuts owing to its various benefits such as low in calories, heart healthy fats and many more. Moreover, rising usage of cashew nuts in various cuisine increases the adoption of cashew nuts as it helps to increase the taste in food and thus rising market growth. The Almonds segment is estimated to register the fastest CAGR of 6.2% for the period 2021-2026. This is mainly owing to rising consumption of plant based foods and growing number of vegan population. Moreover, almonds helps in weight loss and provides various health benefits that rising the consumption of almonds among consumers which in turn boosting the growth of Edible Nuts Market.   

The Edible Nuts Market based on Application can be further segmented into Bakery & Confectionery, Snacks, Dairy Products, Beverages, and Others. The Bakery & Confectionery segment registers for the highest Edible Nuts market share in 2020. This is mainly owing to the fact that manufacturers are producing various energy bars that contains variety of edible nuts and provides various health benefits which rising the preference of consumers and thus increasing the market growth. The Snacks segment is forecasted to register the fastest CAGR of 7.1% over 2021-2026. This is mainly owing to rising usage of edible nuts in various snacks increases the demand of snacks owing to its exotic taste. Moreover, growing consumption of snacks after meals and rising usage of edible nuts in sweets also helps in propelling the growth of Edible Nuts Market.

Europe dominated the Edible Nuts Market with major share of 45% in 2020. This is owing to rising consumption of organic, calorie-free and safe food products that increases the preference of edible nuts. Moreover, rising import volumes of edible nuts in various countries such as Netherlands, Germany, France and the UK are further driving the growth of Edible Nuts Market.

However, Asia Pacific is projected to be the significant-growing market during the forecast period 2021-2026 owing to rising health consciousness among consumers and changing lifestyle among Asian countries. In India, the consumption of edible nuts increases that rising the need of edible nuts and thus raising the market growth.

The edible nuts market driver can be attributed to increasing adoption of a healthy lifestyle among consumers has increased the consumption of edible nuts. Moreover, consumers have become more conscious about their intake and diet due to which there has been a significant rise in the consumption of nuts such as walnuts, almond, pistachios, hazelnuts, and cashew nuts. Thus, the rising adoption of a healthy lifestyle is primarily fuelling the market growth of the edible nuts during the forecast period 2021-2026.

The restraining factor that is to create a negative impact during the forecast period 2021-2026 is high price of processing techniques as edible nuts such as cashew undergoes various stages of processing before commercialization such as extraction, clarifying, and packaging which is projected to hamper the market growth as all these processes are quite intensive.

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Retort Packaging market. In 2020, Retort Packaging market share is fragmented by the top ten players present in the market. The Retort Packaging market top 10 companies are Diamond Foods, Inc., Archer Daniels Midland Company, Olam International, Blue Diamond Growers, Mariani Nut Company, Select Harvests, GNC Global Nut Company AG, Waterford Nut Company, Farm Breeze International LLC and others.

• In 2020, Select Harvests Limited recorded increased productivity momentum after the outbreak of COVID as production of edible nuts upsurge as compared to 2019, due to increasing health conscious consumers.
• In September 2019, Nestlé introduced new KitKat and Yorkie chocolate bars in the UK and Ireland as a part of a new range called More. Both bars contain fruit, nuts, and cereal contains more protein, fiber, and 30% less sugar than comparable chocolate bars.
• In August 2019, Kellogg’s Nutri Grain has launched its first savory snack product, Nuts & Bolts Trail Mix. The new snack is a mix of Nutri-Grain, peanuts, and spices with diced almonds and is available in three flavor varieties; Original Spice, Smokey BBQ, and Sweet Chilli.