Pine Nuts Market Report 2024

The pine nuts market size has grown strongly in recent years. It will grow from $3.06 billion in 2023 to $3.3 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth during the historic period can be attributed to several factors, the nutritional and medicinal value of pine nuts, increasing agricultural practices, exploration and colonization, growing economic value, and advancements in food preservation.

The pine nuts market size is expected to see strong growth in the next few years. It will grow to $4.43 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.The anticipated growth in the forecast period can be attributed to several factors, the rising popularity of plant-based diets, expansion of the food processing industry, growth in the gourmet and specialty foods market, cultural and religious significance, and global trade expansion. Major trends expected during this period include sustainable and ethical sourcing, expansion in emerging markets, innovative packaging solutions, a focus on health and wellness, and product innovation.

The growth of the pine nuts market is expected to be driven by the increasing vegan population. Vegans follow a lifestyle and diet that exclude all animal-derived products, with this rise attributed to growing concerns about animal welfare, environmental sustainability, and personal health. Pine nuts are favored by vegans for their rich nutritional profile, which includes healthy fats, protein, and essential vitamins, making them a versatile ingredient in plant-based diets. For example, a report published by the United States Department of Agriculture in January 2023 highlighted that nearly 8 million people in Germany adhered to a vegetarian diet in 2022, with 1.58 million identifying as vegan. Additionally, around 55% of the German population are part-time vegetarians or flexitarians, indicating a rising concern about meat consumption. Therefore, the increasing vegan population is driving the growth of the pine nuts market.

Key companies in the pine nuts market are developing innovative products, such as olive oils, to offer customers advanced features. Olive oil, extracted from olives, is commonly used in cooking, cosmetics, and pharmaceuticals and is known for its health benefits and versatile flavor. For instance, Rao's Specialty Foods Inc., a US-based specialty food company, launched Rao's Homemade Limited Edition Reserve in August 2021. This ultra-premium line includes Ligurian olive oil, known for its fruity and fragrant qualities with a delicate aroma and notes of pine nut. Produced in the Ligurian region of Italy, renowned for its rich soil and centuries-old olive oil production, this DOP-certified olive oil ensures the highest quality.

In December 2022, the Saudi Agricultural and Livestock Investment Company (SALIC), a Saudi Arabia-based investment company, acquired a 35.43% stake in Olam Agri Holdings for $1.2 billion. This acquisition advances SALIC's vision of leadership in the food security sector, aligning with the national strategy for food security and the Kingdom’s Vision 2030. Olam Agri Holdings, based in Singapore, is a manufacturer of pine nut products.

Major companies operating in the pine nuts market are Barry Callebaut Group, Intersnack Group, John B. Sanfilippo & Son Inc., Diamond Foods Inc., Sabra Dipping Company LLC, Mariani Nut Co., Borges Agricultural And Industrial Nuts, Besana, RM Curtis And Co. Ltd., Voicevale Ltd., Freeworld Trading Ltd., Red River Foods Inc., Peyman, Badia Spices Inc., Credé Oils Ltd. Inc., Bedemco Inc., CG Hacking And Sons Ltd, Dashi International, J.M. van de Sandt B.V., Pinoli Ltd., Shiloh Farm, Western Nut Company Inc., Wilderness Poets, Kenkko Corporation Ltd.

North America was the largest region in the pine nuts market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pine nuts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the pine nuts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Pine nuts, also known as pine seeds, are edible seeds harvested from certain species of pine trees. They are small, elongated, and have a soft texture with a delicate, buttery flavor. Valued for their rich taste and high nutritional content - including healthy fats, protein, vitamins, and minerals - they are a popular ingredient in various culinary dishes.

The main types of pine nuts are Siberian pine, Korean pine, Italian stone pine, chilgoza pine, and singleleaf pinyon. Siberian pine, a species native to Siberia and parts of Mongolia, is known for its resilience in cold climates and its valuable timber and resin production. Pine nuts come in several forms, including raw, processed, powder, and oil, and can be both organic and conventional. They are sold through business-to-business and business-to-consumer channels and are used in various industries such as bakery, confectionery, desserts, snacks and breakfast cereals, sauces and dressings, cosmetics and personal care, retail or household, and others.

The pine nuts market research report is one of a series of new reports that provides pine nuts market statistics, including pine nuts industry global market size, regional shares, competitors with a pine nuts market share, detailed pine nuts market segments, market trends and opportunities, and any further data you may need to thrive in the pine nuts industry. This pine nuts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The pine nuts market consists of sales of salted pine nuts, pine nut flour, pine nut butter, and related products. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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