Nut Products Market: Current Analysis and Forecast (2021-2027)


Emphasis on Products Type (Nut Butters, Nut Pastes/Marzipan Pastes, Nut Fillings With Cocoa, Nut Fillings Without Cocoa, Caramelized Nuts, and Nut Flours); Nut Type (Almonds, Hazelnuts, Walnuts, Cashew, Peanuts, Pine Nuts, Brazil Nuts, Pistachios, and Others); Application (Industrial Food Manufacturers and Food Service & Bakeries); Region/Country









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Report Description
Table of content
Research Methodology

Report Description

Nut Products Market 2
Nut Products Market 2

Global Nut Products Market is anticipated to grow with an elevated CAGR of around 6% over the forecast period (2021-2027). The nut is a type of fruit that consists of a hard or tough nutshell protecting a kernel that is usually edible. The product derived from various nuts is known as nut products that include nut butter, nut paste, nut flour, and others.

A rising prevalence of cardiovascular disease coupled with the surging problem related to the immune system is leading to the growing demand for various nuts and their products as people are becoming more health-conscious and are focusing more on healthy snacking. As per the World Health Organization, cardiovascular diseases (CVDs) are the leading cause of death globally, taking an estimated 17.9 million lives each year. An estimated 17.9 million people died from CVDs in 2019, representing 32% of all global deaths. Of these deaths, 85% were due to heart attack and stroke. Thus, in order to maintain good heart and brain health consumers are consuming nuts more frequently as they are a good source of saturated fats.

Furthermore, whether for health reasons, climate change, or animal welfare, vegan statistics continues to spike around the world. In 2021, the total number of vegans worldwide amounts to about 79 million. Around 9.7 million people follow a vegetarian-based diet in the US. Therefore, there has been growing traction of nuts and their products among vegans as nuts are considered as a good alternative for fish and eggs for fulfilling calcium and vitamin B12 needs. Additionally, the increasing use of raw nuts and nutmeals in cooking and blends in savouries have also attracted a lot of major players in the market along with new product development as strategic approaches by most of the leading companies which in turn is boosting the nut product market globally.

Production of Tree Nuts Worldwide in 2020/2021, By Type (in 1,000 metric tons)

Nut Products Market 3
Nut Products Market 3

Kerry Group, Olam International, Barry Callebaut, Blue Diamond Growers, Treehouse Almonds, Royal Nut Company, Zentis GmbH & Co. KG, Mount Franklin Foods, Lubeca, Besana, are some of the prominent players operating in the nut products market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new products.

Insights Presented in the Report

“Amongst Product Type, Nut Pastes segment holds the major share”

Based on product type, the nut products market is segmented into nut butters, nut pastes/marzipan pastes, nut fillings with cocoa, nut fillings without cocoa, caramelized nuts, and nut flours. The nut paste segment accounted for a significant market share in 2020 and it is estimated that it will exhibit the highest CAGR during the forecast period. The growth of this segment is attributed to the growing use of nut paste as a spreader on bread, biscuits, and cakes. Also, the growing awareness about the nutritive properties of nuts is also driving the consumption of nut paste among consumers.

“Amongst Nut Type, Almonds segment holds the major share”

Based on nut type, the nut products market is divided into almonds, hazelnuts, walnuts, cashew, peanuts, pine nuts, Brazil nuts, pistachios, and others. The almonds segment occupied the major share of the nut products market in 2020 and it is expected to grow with substantial CAGR in the upcoming years. The growth of this segment is attributed to the increasing almond production every year. In 2019/2020 crop added up to over 1.36 million metric tons (kernel basis), 7% up from the previous season and 26% above the previous 10-year average. Also, almonds are one of the most common nuts which are widely consumed and used as almond milk, almond flour, confectioneries, cakes, etc.

“Amongst Application, Industrial Food Manufacturers segment holds the major share”

Based on application, the market is fragmented into industrial food manufacturers and food service & bakeries. In 2020, the industrial food manufacturers segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. A wide range of nut products is manufactured by the food industries including chocolate, confectionery products, bakery products, ice-cream and frozen desserts, cereals & snack bars, beverages, and others. The growth of this segment can be attributed to the growing consumption of these products as they are efficient in daily diet plans and increase in discretionary spending habits by the consumers.

“Europe represents one of the largest markets of nut products market”

For a better understanding of the market dynamics of the nut products market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. Europe constitutes a major market for the nut products market industry and generated revenue of USD XX Million in 2020 owing to the presence of well-established market players in the region.

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

Customization Options:

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1.1Market Definitions
1.2Objective of the Study
1.4Stake Holders
1.5Currency Used in Report
1.6Scope of the Global Nut Products Study


2.1Research Methodology for the Global Nut Products Market
 2.1.1Main Objective of the Global Nut Products Market










7.1Nut Butters
7.2Nut Pastes/ Marzipan Pastes 
7.3Nut Fillings With Cocoa
7.4Nut Fillings Without Cocoa
7.5Caramelized Nuts
7.6Nut Flours


8.6Pine Nuts
8.7Brazil Nuts


9.1Industrial Food Manufacturers
9.2Food Service & Bakeries


 10.1.1United States
 10.1.3Rest of North America
 10.2.3United Kingdom
 10.2.6Rest of Europe
 10.3.5Rest of Asia Pacific


11.1Market Drivers 
11.2Market Challenges
11.3Impact Analysis








15.1Demand Side Analysis
15.2Supply Side Analysis
 15.2.1Top Product Launches
 15.2.2Top Business Partnerships
 15.2.3Top Merger & Acquisitions




17.1Porter’s Five forces analysis
 17.1.1Bargaining power of Supplier
 17.1.2Bargaining power of Buyer
 17.1.3Industry Rivalry
 17.1.4Availability of Substitute
 17.1.5Threat of new Entrants


18.1Kerry Group 
 18.1.1Key Facts 
 18.1.2Business Description
 18.1.3Key Product/Services Offerings
 18.1.4Growth Strategy
 18.1.5SWOT Analysis
 18.1.6Key Financials Split Overview of Kerry Group
 18.1.7Recent Developments Launch Expansion and Investments and Acquisition
18.2Olam International 
18.3Barry Callebaut 
18.4Blue Diamond Growers
18.5Treehouse Almonds 
18.6Royal Nut Company 
18.7Zentis GmbH & Co. KG 
18.8Mount Franklin Foods




Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global nut products market were the three major steps undertaken to create and analyze the adoption of nut products in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global nut products market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the nut products through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the nut products market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as product & services, application, and end-user. Further country-level analyses were conducted to evaluate the overall adoption of nut products across the globe.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the nut products. Further, we conducted factor analysis using dependent and independent variables such as growing number of pharmaceutical & biotechnology companies and rising acceptance of personalized medicine all over the globe. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the nut products sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the nut products market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and the adoption rate of nut products across the major markets domestically
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in the nut products market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Nut Products Market 1
Nut Products Market 1

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the nut products market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type, applications and nut type of the nut products market.

The main objective of the Nut Products Market Study

The current & future market trends of nut products were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

  • Analyze the current and forecast market size of nut products in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
  • Segments in the study include areas of of product type, applications and nut type
  • Define and analysis of the regulatory framework for the nut products industry
  • Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
  • Analyze the current and forecast market size of the nut products market for the major region
  • Major regions studied in the report include North America, Europe, Asia-Pacific and Rest of the world
  • Company profiles of the nut products market and the growth strategies adopted by the market players to sustain in the fast-growing market
  • Deep dive regional level analysis of the industry