Global Nut Meals Market - 2023-2030

Overview:

Global Nut Meals Market reached US$ 5.1 billion in 2022 and is expected to reach US$ 7.6 billion by 2030, growing with a CAGR of 5.7% during the forecast period 2023-2030.

The health benefits of nuts, which are abundant sources of fibre, protein, vitamins, antioxidants, and other essential minerals, are the main factors driving the market. Additionally, the paleo diet is helping nut meals gain popularity. The market is also significantly influenced by the world's expanding vegan population, which is widely regarded as a good substitute for fish and eggs in terms of meeting requirements for protein, calcium, and vitamin B12. With their diabetic-friendly qualities, such as their relatively low fat content and beneficial omega-3 fats, almonds have recently earned an excellent reputation as a health nut.

Players in the market have been introducing flavoured nuts with a variety of tastes and flavours. For instance, in November 2022, Blue Diamond Almonds launched new limited-edition Blue Diamond Peppermint Cocoa Flavored Almonds and Snickerdoodle Flavored Almonds. Consumers are opting for on-the-go snacks due to the trend of healthy snacking. Nutmeals and flavored nuts are the best meal alternatives because of their health benefits. Saturated fats from nuts are a good source of nutrition for the heart and brain. Nowadays, consumers are hence choosing vegan and plant-based foods.

North America held a share of about 41% in the year 2022. As a substitute for whole dairy milk, market players in North America are introducing nut milks like almond milk. The market in the region is being driven by innovation and the demand for healthy convenience foods.

Dynamics:

Product Demand for Nut Meals is Increasing, Driving Market Expansion

The market for nut meals is expanding as a result of rising consumer demand. Beginning with the sourcing of raw materials, organic nuts are grown in a certified organic environment. The nuts are entirely devoid of any artificial ingredients or additives, as well as any traces of chemical fertilisers. HBS Natural Choice, Tierra Farm, and Sun Organic Farm are a few businesses that sell organic nuts and nut meals. There is a rising demand for nuts and nut meals due to nuts' abundance in folate, fibre, protein, and other essential minerals.

Nuts are a good source of nutrition and support heart and brain health with their saturated fats. Additionally, diabetic patients maintain steady insulin levels. Since many nuts also contain omega-3 fatty acids, vitamin E, and folate, they make an excellent vegetarian alternative to meat in terms of nutrition. Additionally, more consumers are replacing other protein-rich meat and animal products with nut meals to satisfy their protein needs as interest in paleo and vegan diets grows.

Nut Meals are Being Used More Frequently in a Variety of Applications, and Consumer Tastes are Changing

The global nut meals market is expanding as a result of changing consumer preferences and increased usage of nut meals in a variety of applications. Nuts contain a wide range of essential fatty acids, carbohydrates, vitamins, and amino acids. A wide variety of nuts are great sources of vitamin E, vitamin B2, folic acid, fibre, and important minerals like selenium, magnesium, potassium, copper, and all the B vitamins. Due to the fact that roasting can significantly deteriorate and destroy fats, nuts are only healthy when they are raw and unroasted.

Due to the popularity of the paleo diet and the rising demand for a protein-rich replacement base for baked goods, many of the top players in the nut meals market are investing in nut meals. The primary use of nut meal is as a plain flour substitute or as a mixture in flour for baking and cooking. It has the advantage of adding the flavour and nutritional advantages of nuts to the product while blending easily as a powder in various bases. The type of nut used and the level of fineness required for the particular application determine the coarseness and texture of the nut meal.

High Fat and Calorie Content Causing High Obesity Levels and Increasing Nut Allergy Prevalence Among a Large Population

The global market for nuts meals is expected to be hampered by a number of factors, including the rising prevalence of nut allergies among a large population and the high levels of fats and calories that cause obesity. The most frequent allergy trigger and one that can result in serious reactions is peanut. Even when consumed in very small quantities, reactions to peanuts can be unpredictable. This occurs as a result of the immune system's identification of the protein in peanuts as potentially harmful and symptom-causing. The nutrients in nut meals are usually very high. Even though these nutrients are abundant, peanuts have an imbalance, which is a drawback.

Segment Analysis:

The global nut meals market is segmented based on type, nature, distribution channel and region.

Organic Held the Largest Share in the Nut Meals Market in 2022

The convenience and taste of healthy organic snacks are increasing consumer demand for health consciousness. Beginning with the sourcing of raw materials, organic nuts are grown in a certified organic environment. The nuts are entirely devoid of any artificial ingredients or additives, as well as any traces of chemical fertilisers. Additionally, the online market for the purchase of such food products is expected to grow during the forecast period as a result of the rising internet penetration. This has drawn a few vertical specialists, including Amazon, Walmart, and Carrefour, who are riding the rising e-retail growth and competing for a sizeable piece of the online organic snacking space.

Geographical Penetration:

Increasing Popularity of Healthy Snacking in North America

Groundnuts, tree nuts, and nuts in general are encouraged to be consumed by American consumers due to the rising popularity of healthier snacking and eating habits. Demand for these products is likely to keep increasing due to the fight against cardiovascular diseases, the desire for better health and wellbeing, and the publication of scientific studies outlining the advantages of nut consumption. Among American consumers, nuts and nutmeals are widely regarded as nutritional powerhouses. Over the next few years, roasted, coated, and salted nuts for snacking will see significant growth. The United States is the largest producer of almonds, pistachios, and walnuts and the second largest producer of both according to USDA data from 2022.

COVID-19 Impact Analysis:

The COVID-19 pandemic lockdown disrupted transportation, temporarily suspended the supply of nuts and their products, and had a significant negative impact on the global export and import of the nuts market. In the meantime, a healthy eating pattern that includes eating things like almonds, peanuts, cashews, and other products has led to the preservation of the human immune system, which will present opportunities for market players following the COVID-19 pandemic. Home cooking and baking increased during lockdowns as people spent more time at home. Almond flour and cashew flour, both kinds of nuts, have grown in popularity as ingredients in low-carb and gluten-free recipes. The popularity of nut meals increased as a result of this trend, especially among home bakers.

Russia-Ukraine War Impact Analysis:

Currency exchange rates were impacted by the Russia-Ukraine conflict. Changes in currency values had an effect on how much nut meal products cost to import and export. Governments imposed trade restrictions or tariffs on products imported from or exported to Russia or Ukraine in response to political unrest. These limitations had an impact on the supply of nut meals and related products.

By Type

• Peanuts
• Hazelnuts
• Walnuts
• Almonds
• Cashew
• Pistachios
• Others

By Nature

• Organic
• Conventional

By Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• E-Commerce
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico

• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe

• South America
  • Brazil
  • Argentina
  • Rest of South America

• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific

• Middle East and Africa

Key Developments

• In July 2023, Cashews, peanuts, almonds, and mixed nuts are among the new snack nut varieties that IGA's Exclusive Brands has introduced.
• In November 2022, "Blue Diamond Peppermint Cocoa Flavoured Almonds" and "Blue Diamond Snickerdoodle Flavoured Almonds" are two new, limited-edition flavours of almonds from Blue Diamond Almonds.
• In June 2022, Mash Ups, Mash Ups Dark Chocolate and Chilli Pepper Almonds, Elote - Mexican-Style Street Corn Almonds and Korean BBQ Almonds are the other four new almond flavours introduced by Blue Diamond Almonds.

Competitive Landscape

The major global players in the market: Bob's Red Mill, Tierra Farm Inc., Royal Nut Company, Sun Organic Farm, Blue Diamond Growers, Cargill Inc., Kluth, a GmbH & Co., Syngenta, Archer Daniels Midland Company and HBS Natural Choice.

Why Purchase the Report?

• To visualize the global nut meals market segmentation based on type, nature, distribution channel and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of nut meals market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global nut meals market report would provide approximately 61 tables, 56 figures and 186 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies