Global Nuts and Nutmeals Market - Growth, Trends and Forecasts (2018 - 2023)
The global nuts and nut meals market is expected to witnessing a CAGR of 5.2% during the forecast period (2018-2023). Many top players in the nut market are investing in nut meals due to the popularity of paleo diet and an increasing number of people opting for a protein packed substitute base for baked goods. Nut meal has its main function as a substitute for plain flour or as a mixture in flour for baking and cooking. It has the benefit of blending easily as a powder in various bases and providing the taste and nutritional benefits of nuts to the product. The coarseness and texture of the nutmeal is determined by the type of nut used and the fineness required for the specific application.
Flavor Company Sensient developed a range of clean label, natural nut flavors that are completely free of nut allergens. The product line includes almond, hazelnut, peanut, pistachio and walnut flavors and they are completely free of nut components, which gives it an allergen-free claim.
Nuts and nut meals demand is driven by the growing awareness of the health benefits of nuts, which are a rich sources of folate, fiber, protein, and other essential minerals. They are a good source of saturated fats and help in maintaining a healthy heart and brain. Moreover, insulin levels are maintained in diabetic patients. Many nuts also contain omega-3 fats, Vitamin E and folate, making them a great nutrition substitute of meat, for vegetarians. Furthermore, with an increase in interest for paleo and vegan diets, the use of nut meal is on the rise by consumers for their protein needs in the absence of meat, milk, eggs, and other protein rich meat and animal products. In 2013, the market for nuts and seeds featured in 37% of the global snack food launches. This inclusion of nuts in the daily meal plans is driving the market.
Restrain in the nuts and nut meals market is the high amount of fats and calories, which pose as major factors owing to high obesity levels in people. These contain a high level of sodium and artificial flavoring, which are counter effective to the heart protecting health benefits of nuts. Another major deterring factor is the prevalence of nut allergy among people, with 1.4% of the population in the United states alone suffering from peanut allergies.
Opportunities can be seen in the form of use of nuts and nut meals in various new application industries, as a result of the changing taste of the consumers due to globalization and urbanization, especially in the developing countries.
The global nut and nut meals market is segmented according to nut type into - almonds, peanuts, macadamia nuts, hazelnuts, walnuts, cashews, pistachios, and others. Cashew, which is popular in Asia-Pacific due to the warm climate in the region and a major export product in places such as India, has the largest global market share, followed by peanuts and almonds. Peanut has major application in North America and Europe with its uses in breakfast items such as peanut butter, which is largely consumed in the western countries. In the recent decades, almond has gained a good reputation for being a healthy nut with its diabetic friendly attributes such as, comparatively low fat content and healthy omega-3 fats. The market is segmented by usage and application into ready-to-eat nuts, oil, savories, confectionery and bakery, dairy, beverage, cereal and others. While nuts have the greatest application in ready to eat foods, nut meals are primarily used in baking. Both nuts and nut meals have high application as blends in savories such as trail mixes and cereal, where they allow for “smart-labelling” of products to attract health conscious consumers.
Asia-Pacific is the main market for nuts, with India and China making up the largest market share in the continent. This is due to the high production of nuts in these countries which allows for export all around the world. The North American and European markets come in next, with nuts being very popular additions in processed food such as snack bars, cereals and trail mixes. When it comes to usage and production of nut meals, North America is the largest market due to high disposable income in the region and the popularity of following emerging food fads in the region. Asia-Pacific shows promising growth rate for nut meals due to easy availability in the region.Major PLAYERS: BLUE DIAMOND GROWERS INC., CARGILL INC., MCCORMICK AND CO, ARCHER DANIELS MIDLAND CO., RICHARDSON INTERNATIONAL, MONSANTO CO., SYNGENTA, KANEGRADE LTD, FREDLYN NUT COMPANY, THE LUDLOW NUT COMPANY, NUT-TRITIOUS FOODS, ROYAL NUT COMPANY, SUPERIOR NUT COMPANY, HBS FOODS LTD. and DETRIOT GOURMET NUT COMPANY, amongst others.
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