Market Overview —
Tree nuts are edible fruits enriched with vitamin E, essential minerals, vitamin B2, and fiber. These nuts have a hard-outer shell. Its growing consumption depends majorly on its antioxidant properties. These nuts are loaded with unsaturated and monounsaturated fatty acids (MUFA) and is quite popular as a healthy snack. The global tree nuts market can surpass USD 62,235.3 million valuation by 2024 with a CAGR of 8.63% during the forecast period of 2018 to 2024.
Factors like its high nutrition quality, increasing inclusion in food & beverage, confectionery, and oil industries, high nutritional value, and traction from personal care industries can promote tree nuts market in the coming years.
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Prominent companies engaging in the global Tree Nuts Market are
• Diamond Foods, Inc. (US),
• Olam International Ltd (Singapore),
• Blue Diamond Growers (US),
• MARIANI Nut Company Inc. (US),
• Waterford Nut Co. Inc. (US),
• Select Harvests Limited (Australia),
• Lone Tree Nut Company, Inc. (US),
• Tree Nuts International (India),
• Archer Daniels Midland Company (US)
• Sun Valley Nut,
• LLC (US)
MRFR profiled these companies to know various trends from a very close quarter to gauge, which way the market is expecting expansion. The report also charts merger, acquisition, collaboration, and various other modes of market strategies that can impact the market in the coming years.
In August 2019 Crystal Peak announced their intention to launch a new plant for specific fertilizer production. The aim is to get better production of vegetables and tree nuts that are of high value and chloride-sensitive in nature.
The Global Tree Nuts Market can be segmented, as directed by MRFR in the report, on the basis of product type, form, and application. Such an analysis targets various growth factors to assist in chalking out of plans that would allow easy percolation of the market.
Based on the product type, the tree nuts market can be segmented into walnuts, almonds, cashew nuts, hazelnuts, pistachios, Brazil nuts, chestnuts, and others. The almonds segment dominated the market in 2018 and its widespread application in the food & beverage industry could take the global market ahead in the coming years. The pistachio segment is expected to score the fastest CAGR during the forecast period. It would be 9.26% during the forecast period.
Based on the form, the global tree nuts market can be segmented into whole, split, and others. The whole segment had the largest share in 2018. The segment is also expected to gain the fastest CAGR during the forecast period where it would gain a valuation of USD 41,361.6 million by the end of 2024.
Based on the application, the tree nuts market can be segmented into bakery & confectionery, consumption/culinary purpose, flavored drinks, breakfast & cereals, snacks, dairy products, butter & spreads, and others. The direct consumption/culinary purpose segment was in charge in 2018. The rising focus on health and wellness can create a vast expanse for the tree nut. However, the bakery & confectionery can register the fastest CAGR during the forecast period.
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The region-specific analysis of the global tree nuts market can be segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA). This analysis would cast its focus on factors that could influence the regional markets and better management of these could take regional markets higher.
The APAC region had the highest market share as per report of 2018. It was covering around 30.18% of the total market and is slated to score the highest CAGR of 9.31% during the forecast period. China is expected to take the regional market forward by contributing substantially. This is getting tractions from rapidly happening urbanization and population boom, which are creating a demand for better food & beverages. The Chinese market can benefit from this.
The European market had the potential to surpass USD 14,663.5 million by 2024. Germany had the largest share in 2018.
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