Nuts and Seeds Market - Growth, Trends, and Forecasts (2023-2028)

The Global Nuts and Seeds Market is expected to register a CAGR of 5.87% over the forecast period.

The market is mainly driven by the growing awareness of the health benefits of nuts and seeds, as they are rich sources of fiber, protein, vitamins, antioxidants, and other essential minerals, and the increasing popularity of the paleo diet. They are a good source of saturated fats and help maintain a healthy heart and brain. Hence, due to the nutritional benefits, they serve as excellent meal substitutes. Nutrition and allergy experts estimate that 32 million people in the United States have food allergies, including to tree nuts and peanuts, and may also be lactose or gluten intolerant. This factor is restraining the growth of the nuts and seeds market.

Seeds and nuts demand has been rising due to increased awareness about the benefits of consuming nuts and seeds and products infused with them. Globally, the need for convenience foods is growing faster due to changes in social and economic patterns, as well as increased expenditure on food and beverage; awareness about healthy foods, changes in meal patterns, and existing food habits has increased been driving the market studied. ‘Clean labeling’ is no longer a trend but has become a high-rated consumer demand that the global food industry is responding to by putting additional emphasis on these aspects while processing a food product propelling the market studied. Moreover, changing tastes and trends among customers have been increasing the demand for nuts and seeds. Due to its nutritional benefits, the need for functional ingredients in bakery & confectionery products has been rising. In addition to practical health benefits, incorporating natural ingredients like cashews, peanuts, pistachios, and other such elements, in different bakery & confectionery products has been rising, which is benefitting the nuts and seeds market.

Nuts & Seeds Market Trends

Increasing Healthy Snack Demand is Fostering the Nuts and Seeds Market

As the millennial population becomes health conscious, their consumption pattern also increases the demand for nutrient-rich foods. The manufacturers have been developing products that can satiate the market demand for nut- and seed-based products, especially among body-conscious consumers. The increasing consumer inclination towards value-added food products such as lotus seeds in smoothie bowls further boosts the demand for the nuts and seeds market. The popularity of “super” ingredients has increased significantly over the recent past as consumers are more inclined toward natural and wholesome ingredients.

These products have high nutritional and functional value, and their chemical composition is rich in PUFAs (Polyunsaturated fatty acids), mainly omega-3, protein, dietary fiber, and bioactive compounds. According to the International Nut & Dried Fruit Council, in 2021/2022, the production of pistachios amounted to about 795.3 thousand metric tons worldwide. The prominent players are focused on research and development for new product launches that can address the growing consumer demand. The increasing adoption of nuts and seeds by processed food manufacturers as a high-value and healthy food inclusion ingredient further boosts the market.

Asia-Pacific is the Fastest Growing Region

The importance of cashew nuts, peanuts, and almonds in several cuisines has played a part in driving market demand in the region. The importance of nuts and seeds for patients suffering from or at risk of cardiovascular diseases has driven market demand. The American Heart Association recommends including omega-3-rich foods and oils in daily diets to prevent heart disease. According to UN Comtrade, in 2021, China imported around 25.28 million U.S. dollars worth of chia seeds from the rest of the world. They form an imperative component of several spices and condiments.

Moreover, favorable climatic conditions, increased demand for seeds from the neighboring countries, and the adaptation of technology to meet the demand are some of the factors driving the seed market in the region. According to the Ministry of Agriculture and Farmers Welfare (India), the index number of guar seed production across India was 97.2 in 2021. The dominant players in the market are strengthening their product portfolio to meet the farmers' demand and concerns, leading to the growth of the nuts and seeds market in the region.

Nuts & Seeds Market Competitor Analysis

The nuts and seeds market is highly fragmented, owing to prominent regional and domestic players in different countries. Select Harvests Limited, Food Specialities Limited., Cargill Inc., Olam Group, and The Wonderful Company LLC are major nuts and seeds market players. Emphasis is given to strategies such as merger, expansion, acquisition, and partnership of the companies, along with new product development as strategic approaches adopted by the leading companies to boost their brand presence in the market.

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• The market estimate (ME) sheet in Excel format
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