The global nuts and seeds market depicts the presence of an intensely competitive vendor landscape, notes Transparency Market Research on the basis of a newly published report. Such an intense competition mainly exists thanks to numerous players working in the sector, coupled with low entry barriers.
Most players are attempting to improve their product quality, enhancing the taste factor, and facilitate an increase in the nutritional content of their products. Manufacturers are also focusing on bringing forth innovative flavors to their products, in order to appear more lucrative to their customers. Blue Diamond Growers Inc., Cargill Incorporated, Bayer Crop Science A.G., Diamond Foods Incorporated, Syngenta A.G., Richardson International, and McCormick and Company Inc., are players operating in the global nuts and seeds market.
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From a statistical perspective, experts peg the global nuts and seeds market to gain revenue worth US$1,279.44 bn by 2021. This is a decent growth considering an initial revenue valuation of US$1,157.72 bn registered by the market in 2015. This growth is prophesized to occur at a splendid CAGR of 10.0% during the forecast period ranging from 2015 to 2021.
Increasing Awareness Regarding Healthy Food Consumption Fuels Progress
A rising awareness regarding nutritional content of different types of nuts and seeds is primarily driving growth in the global nuts and seeds market. Such health awareness mainly exists due to a surge in the number of fitness enthusiasts, mainly in urbanized and developed regions. Moreover, with rising disposable incomes, many people can now afford to buy quality nut and seed products. Moreover, with rapid advancements occurring in genetic modification of crops, the quality of seeds produced is improving in recent times. This has led to an increasing lucrative aspect of the seeds and nuts sold commercially, thereby providing a notable impetus to the market’s expansion. Lastly, with rising global population, the demand for various food products wherein nuts and seeds are used is driving growth in the global nuts and seeds market.
Harmful Side Effects Stunt Growth in Nuts and Seeds Market
However, excessive consumption of nuts and seeds may cause harmful effects on health. This acts as a key factor restraining growth in the global nuts and seeds market. Some of the conditions caused by excessive consumption of nuts and seeds are bowel disorders, weight gain, and diarrhea, among many others. Several unreliable brands exist mainly on a local scale, which may not manufacture quality nuts and seeds. But, these may be available for costs less than those sold by renowned brands, thereby eating into the sales of the latter. This is a key factor restraining the global nuts and seeds market. Nonetheless, many companies are soon expected to expand their geographical reach as well as regulate production costs, thereby offsetting most restraints affecting the market.
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