The Global Nuts and Seeds Market was valued at USD 1.30 billion in 2018 and is projected to reach USD 1.43 billion by 2025, at a CAGR of 1.80% from 2019 to 2025. The moderate consumption of nuts and seeds has many positive impacts on human health, such as reducing the incidence of coronary heart disease, lowering blood cholesterol, preventing diabetes, and preventing gallstones in women and men. In addition, the regular consumption of nuts can protect diseases such as high blood pressure, metabolic syndrome and visceral fat.
PepsiCo has signed an agreement to purchase Spitz International Inc., a leading Canadian manufacturer of sunflower and pumpkin seeds. The acquisition is touted to encourage Frito-Lay's strategy to expand its operations in the nuts and seeds category, increasing its healthier snack options.
Market Drivers and Restrains:
Growing consumer awareness of the nutritional and health benefits associated with various types of nuts and seeds is driving demand in the market. Packaging ensures good quality, product processing and increases the shelf life of products. In addition, it is responsible for providing customers with fresh, clean and high-quality products. Increasing health awareness has favored the expansion of the global market for nuts and seeds during the forecast period. Awareness of the health benefits of nuts and seeds is driving the global market. The younger generation's penchant for natural and organic products is expected to create huge opportunities for the global nut and seed market around the world during the forecast period. In addition, increased consumer spending on beauty and personal care products is supposed to drive the market for nuts and seeds around the world. Other factors such as improving living standards, growing demand for luxury and exotic perfumes, high incomes and the upward trend of personal care are expected to drive market growth over the estimated period.
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By type, the market covers almonds, hazelnuts, walnuts, cashews, peanuts, and pistachios. These nuts contain polyunsaturated and monounsaturated omega 6, omega 3 fatty acids with a small amount of saturated fat. It can help reduce associated risks such as metabolic syndrome, high cholesterol levels, and high blood pressure. Additionally, eating walnuts helps improve blood sugar levels and reduces the risk of certain types of cancer. Almonds are essential for lowering LDL cholesterol, which is considered bad cholesterol. In addition to this, almonds are consumed as a low-calorie diet and promote weight loss and blood pressure.
By form, the market is divided into raw, roasted and others. Nuts are typically roasted to enhance flavor, crunch, texture, and aroma. Most oilseeds like peanuts, sunflower seeds, and sesame seeds are roasted first and then oil is extracted from them. Some seeds such as flax, olive oil and others are extracted without roasting. The increasing application of these seeds will increase the reach of the products for the foreseeable future.
Impact of COVID-19 on the Market for Nuts and Seeds
While food and beverage manufacturers and processors are more likely to be affected by shortages of labor and raw materials necessary for the production process, retail and foodservice outlets should be more challenging from the beginning. However, the nuts and seed market witnessed a surge during coronavirus pandemic, as they help improve immunity and combat against infections.
In 2018, North America had the largest market share for nuts and seeds with 56.8%. The region has become a large consumer of nuts and seeds due to the presence of several bakery and confectionery manufacturing units in the United States. The Asia-Pacific is expected to be a very lucrative regional market, expanding at an annual growth rate of 6.8% from 2020 to 2025. The growth is primarily attributed to the growing awareness of organic products, as well as the changing consumer preferences for foods of high nutritional value in emerging economies, including China and India.
Key market players:
Key players operating in the global nuts and seeds market include Blue Diamond Growers, McCormick & Company, Inc., California Gold Almonds, Wonderful Pistachios & Almonds, Nuts 'n' Spices, Royal Nuts, and others.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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