The global nut products market size is estimated to be valued at USD 6.7 billion in 2022. It is projected to reach USD 8.9 billion by 2027, recording a CAGR of 5.9% in terms of value. The demand for nut products is increasing due to the increasing demand for preventive nutrition worldwide.
Key players operating in this market include Barry Callebaut (Switzerland), Blue Diamond Growers (US), Kerry Group (Ireland), Zentis GmbH & Co. KG. (Germany), Olam International (Singapore), Mount Franklin Foods (US), Mandelin, Inc (US), Besana (Italy), Bazzini (US), and Lubeca (Denmark).
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The key players are fixated upon improving their market shares, while the newer start-ups are being established rapidly in the market. The nut products market can be classified as a fragmented market as it has the presence of various regional players, accounting for a major part of the market share. There are numerous existing and emerging companies, particularly in the Asian markets.
Barry Callebaut is a leading manufacturer of chocolate and cocoa products, from sourcing and processing cocoa beans to producing the finest chocolates, including chocolate fillings, decorations, and compounds. The company offers products through three business segments: artisans & chefs, food & beverage manufacturers, and vending & beverages. Among these, the food & beverage manufacturers segment offers a variety of products, such as roasted nuts, caramelized nuts, nut fillings, and nut paste. La Morella Nuts (Spain) was acquired by Barry Callebaut in 2012 and offered specially formulated products for confections and plant-based proteins. The company is now expanding in the European and Asia Pacific regions.
Olam International is a leading food and agri-business company that supplies food ingredients, feed products, and fiber to customers worldwide. It operates in six major segments: food staples and packaged foods, edible nuts and spices, confectionery and beverage ingredients, industrial raw materials, infrastructure, and logistics. It offers almond ingredients under the edible nuts and spices segment. The company has attained a leading position in various businesses, such as cocoa, coffee, cotton, edible nuts, and spices. It is a key supplier of edible nuts and nut ingredients, producing and processing in all the major regions and distribution networks worldwide.
Nut Products Market by Product Type (Nut Butter, Nut Paste/Marzipan Paste/Persipan Paste, Nut Fillings with Cocoa, Nut Fillings without Cocoa, Caramelized Nuts, and Nut Flour), Nut Type, Application, Quality, Category and Region - Global Forecast to 2027
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