Market Research Future published a cooked research report on global Tree Nuts market which is estimated to grow more than 3.46% after 2022.
Tree nuts are edible nuts which may or may not contain a hard outer covering. Tree nuts are considered to be a rich source of vitamins, minerals and fiber. They are found to reduce the risk of cardiovascular diseases by reducing the cholesterol and hence is consumed globally. There is a wide classification of tree nuts but the majorly consumed type include cashew nuts, almonds, walnuts, hazelnuts and others. Tree nuts are used extensively across the food industry to level up the organoleptic property of the food product. Tree nuts also adds to the nutritional value of the final product.
The global market for Tree Nuts has witnessed continued demand during the last few years and is projected to reach 15,856.49 kilo tons by 2022, at a CAGR of 3.46% by 2022. Increase in demand of healthy snacks across various countries is likely to drive the global Tree Nuts market backed up by rising health consciousness amongst the consumers.
Cashew nuts will witness the higher growth rate (~5.52%). By 2022, Cashew nuts among the various tree nuts types is projected to grow the most due to its increase in applications specifically in food and beverages. Walnuts share will also witness a steady growth and will contribute to the second largest market volume after cashew nuts. The application of cashew nuts not only in food industries but also in household food preparations such as curries and gravies is likely to contribute to the market share of cashew nuts majorly in the Asia-Pacific region.
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By Downstream analysis-
By 2022, whole form of tree nuts will reach more than 8,000 kilo tons with CAGR of 3.56%. Increasing adoption of healthy conducts is creating the huge demand of whole form of tree nuts in the market to avoid the risk of contamination. Consumer’s satisfaction relies on consumption of whole form of tree nuts to ensure no processing associated cross-contamination.
Application of Tree Nuts in Bakery & Confectionery holds a lion’s share of 32% of the total market share and it is projected to grow at a CAGR of 3.44% by 2022. However, flavored drinks based application will witness the higher growth rate (~3.96%) during forecast period 2016 to 2022. By 2022, Direct consumption/Culinary purpose based application will grow with a CAGR of 3.83%. The application of Tree Nuts as Direct consumption/Culinary purpose will witness significant growth in upcoming years due to increasing awareness about health benefits obtained from tree nuts.
The major key players in Tree Nuts market are
- Golden Peanut Company Llc (U.S.)
- Olam International Ltd. (Singapore)
- Diamond Foods, Inc. (U.S.)
- Mariani Nut Company Inc. (U.S.)
- Blue Diamond Growers (U.S.)
- Select Harvests Ltd. (Australia)
- Waterford Nut Co. Inc.(U.S.)
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Key players are focused majorly on acquisition of small players which accounts for more than 50% of the overall strategy share by key players from last few years. Expansion, focus on Research and Development and new product launch are the main factors which are contributing to more than 40% of strategy share and is facilitating companies to penetrate the potential market across globe.
Asia-Pacific will continue to dominate the Tree Nuts market with more than 55% market share and it is projected to reach more than 8,500 kilo tons with CAGR of 3.45% by 2022. South America will witness the higher growth rate (~5.58%) during forecast period 2016 to 2022. North America region will witness the growth of 2.77% in Tree Nuts market for the same period. Growing popularity of healthy food substitutes with high fiber content in Asia-Pacific is driving the market growth. Changing lifestyle and increasing awareness about health benefits of Tree Nuts in Asia Pacific region is playing a key role in the market growth from last few years.
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