Nuts and Nutmeals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The nuts and nutmeals market is expected to register a CAGR of 5.9% during the forecast period (2022-2027).

The nuts and nutmeals market has not been much affected by the COVID-19 pandemic as people changed their priorities and invested more in buying healthy and immunity-boosting food products. The staggeringly increased sales of nuts and nutmeals products were observed through online stores during the COVID-19 period, which sustained the demand in the market studied. Most people preferred to buy larger quantities at a time, fearing running out of products. Thus, large basket sizes remained a significant reason for the sustenance of nuts and nutmeals across all regions. Further, more players expanded into the landscape. For example, anti-snack, a sports nutrition firm, launched a new line of healthy snack mixes in March 2020.

The market is mainly driven by the growing awareness of the health benefits of nuts as they are rich sources of fiber, protein, vitamins, antioxidants, and other essential minerals, and they are increasingly getting their popularity in the paleo diet.

The market is also heavily driven by the growing vegan population across the world as they are broadly considered a good alternative for fish and eggs for fulfilling protein, calcium, and vitamin B12 needs. In recent decades, almond has gained an excellent reputation for being a healthy nut, with its diabetic-friendly attributes, such as its comparatively low-fat content and healthy omega-3 fats.

Key Market Trends

Rising Health Awareness Led to Healthy Snacking Patterns

The increasing consumers' health awareness and the rising disposable income across regions are the factors that have encouraged people to opt for high-quality nut and nutmeal products. Healthy snacking, along with convenience and taste, is raising the demand for nut and nutmeal ranges among consumers. Apart from healthy snacking, the plant-based diet followed by the ongoing trend of veganism is actively supporting the growth of the market and will continue to do so during the forecast period as well. Also, the clean label trend and availability of nut mixes, seasoned nuts with clean label claims such as organic, better-for-you, and others are further accelerating the growth of the market studied.

North America Holds a Prominent Share

The growing popularity of healthier snacking and eating habits among American consumers continue to encourage the consumption of nuts, both tree nuts and groundnuts. The fight against cardiovascular diseases, the desire for better health and wellbeing, along with the publication of scientific studies highlighting the benefits of nut consumption are likely to continue fueling demand for these products. Nuts and nutmeals are widely regarded as nutritional dynamite among American consumers. Nuts for snacking like roasted, coated, and salted, among others, will have a high penetration rate over the forecast period.

Competitive Landscape

Global nuts and nutmeals include leading players such as Bob's Red Mill, Honeyville, Inc, Blue Diamond Growers, Royal Nut Company, Sun Organic Farm, Zentis GmbH & Co. KG, Mount Group, and Mandelin Inc., among others. These major players in this market focus on increasing their presence through expansions, mergers & acquisitions, partnerships, joint ventures, and agreements. These companies have a strong presence in North America, Asia-Pacific, and Europe. They also have manufacturing facilities, along with strong distribution networks across these regions.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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