Nuts
are type of oily kernels which is present within a shell of the fruit
and is used in various food products worldwide. Mostly seeds are
taken from various fruits that are not present in the shell of the
fruit such as hazelnuts, chestnuts, and others, that has hard shell
walls and are originated from compound ovary of the fruit. Nut
ingredients are comprised of nuts such as hazelnut, almond, cashew,
walnuts, pecans, peanuts,Pine nuts, soy nuts, sunflower nuts, and
others. The global nut ingredients market is expected to raise at a
CAGR of 5.3%. Nuts ingredients are very useful in product
formulations, and hence they are considered a preferred choice for
food manufacturers. Nut ingredients provides an important source of
nutrients to consumers as they offer both taste and impart health
benefits to consumers. Many manufacturers are offering new product
innovations with almonds along with all other food introductions with
nuts such as cashew nut, peanuts, hazelnuts, and walnuts. The food
categories in which nut ingredients are used includes bakery
products, snacks & bars, beverages, cereals, confectioneries,
desserts, and dairy products.
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Global
Nut Ingredients: Market Segmentation
The
global nut ingredients market is segmented on the basis of type,
application, form and region. The nut ingredients market is segmented
on the basis of type such as hazelnut, walnut, almond, peanut, pecan,
soy nut, and others. The global nut ingredients market is segmented
on the basis of form type in which nut ingredients are available in
roasted form and unroasted form. Manufacturers are offering various
nut-based products in roasted form, which is seen as a growing trend
in the global nut ingredients market. The global nut ingredients
market is segmented on the basis of application in which nuts are
used in various food products such as snacks which includes extruded
snacks, crisps, tortillas and others. The other applications include
confectioneries, dairy products, bars, cereals, and others. Hence,
the global nut ingredients market is expected to significantly
increase the revenue contribution over the forecast period.
Global
Nut Ingredients Market: Regional Outlook
Geographically,
the global nut ingredients industry can be divided by major regions
which include North America, Latin America, Europe, Asia Pacific,
Middle East and Africa. Globally, among all regions, North America
has developed as the dominant region in global nut ingredients market
followed by Europe and Asia Pacific. India and China are witnessed as
emerging markets in the global nut ingredients over the forecast
period. Increasing snacking and confectionery industry and demand for
convenient and on-go-option snack foods, has strengthened the growth
of global nut ingredients market and hence is projected to
significantly expand the revenue contribution of the market over the
forecast period.
Global
Nut Ingredients Market: Growth Drivers
The
global
nut ingredients market driving factors are increasing demand
for ready-to-eat snack foods coupled with convenience of foods.
Increasing opportunities in snacks and confectionery industry is also
another factor in driving the nut ingredients market along with
rising number of varieties and flavors in nut ingredients snacks with
introduction of variety of nuts such as walnut, almond, peanut,
hazelnut, pecan and others. Manufacturers are focusing on providing
healthier product offerings. Growing focus on preventive health care
and launching of healthier products with variety of nut ingredients
is the major driving factor of the global nut ingredients market.
Hence, the global nut ingredients market is expected to observe
robust growth over the forecast period.
Global
Nut Ingredients Market: Key Players
Some
of the key players identified across the value chain of the global
nut ingredients market include Kanegrade Limited, Archer Daniels
Midland Company, Bredabest, Olam International, Terri Lynn, Inc.,
H.B.S. Foods Ltd., CACHE CREEK FOODS, ROYAL NUT COMPANY, Helios
Ingredients, Bergin Friut and Nut Company, Wenders, and The Hershey
Company. The companies are expected to expand their business by
enhancing their product portfolio in global nut ingredients market.
The companies are projected to frame certain strategies in future in
order to gain the competitive advantage in global nut ingredients
market till 2025.
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