Edible nuts are dry, edible fruit or seed with a high fat content employed in a wide variety of edible roles such as foods and flavoring. The global edible nuts market is anticipated to generate a CAGR growth of 4.5% from 2016 to 2022.
Growing awareness about the nutritional values of nuts, traditional popularity and culinary uses and growing snacks and packaging foods industry are the prime drivers of the market. Edible nuts are a rich source of fatty acids such as omega-3, palmitoleic acids, minerals such as manganese, potassium, calcium, iron etc. and a host of phyto-vitamins such as B-complex group of vitamins and carotenes. Developments and innovations in foods such as confectionary, the rich taste and flavor afforded by nuts, growth in cultivation and international trade are other drivers of the market.
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Rising stringency of regulatory standards such as labelling, safety and others is the most critical restraint on the market. For example, the European standards are more stringent than the UNECE standards, which is adding to woos of the market. The growing parameters of the standards such as moisture content, preservatives and content, quality class and others are another set of restraints hampering the imports of edible nuts in Europe.
Rising prices is adding to pressures on the end users as the growth in value has outstripped the growth by volume by a factor of greater than 5!
Major Key Players:
Prominent players of the edible nuts market are Archer Daniels Midland (U.S.), Blue Diamond Growers (U.S.), Olam International (Singapore), Select Harvests (Australia), Diamond Foods, Inc. (U.S.), Mariani Nut Company (U.S.), GNC Global Nut Company AG (Switzerland), and WaterFord Nut Company (U.S.) and others.
The global edible nuts market is segmented by product type, form, application, and end users so as to generate a detailed understanding of the differential potential of the market.
Product type – almonds, hazelnuts, cashew nuts, pistachios, walnuts, peanuts, macadamia, Brazil nuts and others. The peanuts dominate the global edible nuts market by product type with a comfortable margin followed by cashew nuts and almonds. The growing demand for almonds, macadamia nuts Brazil nuts, hazelnuts, and dried prunes are accounting for a major part of the growth rate for global edible nuts market.
Form – whole, roasted, powder, splits and others. The whole and roasted segment dominate the global edible nuts market by form.
Application – bakery and confectionery, breakfast cereals, snacks, flavored drinks, dairy products, butter and spreads and others. The snacks segment dominate the global edible nuts market by applications followed by breakfast cereals.
End Users – Food and beverages industries, retail sales, healthcare and consumer industries and others. The retail sales followed by the food and beverages industries dominate the global edible nuts market by end users.
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Europe is the market leader for the global edible nuts market making for approximately 45 % of total world market. Germany, Netherlands, France and the UK account for the lion’s share of the market. A healthy growth rate of 8.9 % was evident in European imports of edible nuts in 2016. European countries like Turkey, Italy and Georgia are contributing more in hazel nuts production compared to other regions of the world. The growing confectionary industry of Europe is a leading cause of the growth in this market.
Asia Pacific region is the second largest edible nuts market on account of traditional popularity, absolute geographical advantage, and large population. China followed by India are the dominant regions due to their sheer larger demand. The Asia Pacific region is followed by North America led by U.S. California is the leading producer of almonds in the world. The Middle East and Africa are dominated by the economic Gulf regions of Saudi Arabia, UAE and others.