Latest News- Tree Nuts Market: Almonds is expected to lead the Product segment during 2024-2028

The Tree Nuts Market is being driven by Rising popularity of vegan snacks among millennials

The Tree Nuts Market is expected to grow at a CAGR of 8.09% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 24.67 billion. Tree nuts, specifically their oils, have gained significant traction in the cosmetic industry due to their numerous benefits for skin and hair care. These natural extracts serve as an excellent source of nourishment, with tree nut oils being utilized for treating various conditions such as dark circles and pain. The availability of a diverse range of tree nuts, including walnuts, results in an abundant selection of tree nut oils in the market. Walnut oil, for instance, is renowned for its high omega-3 fatty acid content and is frequently used as a massage oil and in aromatherapy. Its antioxidant properties make it an effective anti-aging agent, helping to prevent wrinkles and shield the skin from environmental damage. This growing trend of utilizing tree nut oils in cosmetics is a testament to their efficacy and versatility. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Almonds
  • Pistachios
  • Walnuts
  • Cashews
  • Others
• Distribution Channel
  • Offline
  • Online
• Geography
  • APAC
    • China
    • India
  • Europe
    • Germany
    • Spain
  • North America
    • US
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising popularity of vegan snacks among millennials
• Health benefits associated with tree nuts
• Rise in number of tree nut-based snack launches

However, the market also witnesses some limitations, which are as follows:

• Potential source of allergens
• Stringent food safety regulations
• High production cost associated with tree nuts

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Market Scope in Tree Nuts Market Research Report

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Research Analysis Overview

The tree nuts market is experiencing a significant surge in demand due to the increasing concern about health and the rise in literacy regarding the benefits of healthy organic food. Nut oils, nut flours, nut milks, and nut butters have become popular choices for gourmet dishes, toppings, and dairy alternatives. Culinary applications of these nut-derived products are widespread, from baking and confectionery to butter and spreads, and even in breakfast cereals. The nut market caters to various dietary preferences, including the ketogenic, paleo, and vegan diets. Nut oils are rich in healthy fats and antioxidants, making them ideal for cooking and salad dressings. Nut flours offer a gluten-free alternative to traditional wheat flours, while nut milks provide a dairy-free option for those with lactose intolerance or following a vegan diet. Nut butters, such as almond, cashew, and peanut butter, are a staple in many households due to their versatility and nutritional value. The market for tree nuts is not only limited to food and beverages but also extends to the pharmaceutical industry, where nut oils are used in the production of certain medications. However, it's important to note that nut allergies are a concern for some consumers, and the rising prevalence of nut allergies may pose a challenge for the industry. Despite this, the demand for tree nuts and nut-derived products continues to grow, driven by their health benefits and widespread adoption of veganism.

Market Research Overview

The tree nuts market is a significant segment of the global packaged foods and meats industry, falling under the food products sector of the broader food, beverage, and tobacco market, according to Technavio's market classification. The packaged foods and meats market encompasses food processing vendors that specialize in food processing techniques to eliminate microorganisms and enhance shelf life. Technavio determines the market size by aggregating the revenues of the participating vendors in this sector. It's important to note that this market excludes manufacturers of food processing equipment and producers of packaged alcoholic and non-alcoholic beverages, including mineral waters.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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