Experient project forecast for nut ingredient sector to achieve a significant USD 47.4 billion mark by the year 2034.
The nut ingredients market is experiencing significant growth, with projections to reach approximately $33.74 billion by 2029. This robust expansion is driven by various factors, including increased health consciousness, the growth of the snack food industry, and a focus on ethical and sustainable sourcing.
The market's current value stands at around $24.84 billion in 2024, and it is projected to grow to $26.33 billion in 2025, reflecting a compound annual growth rate (CAGR) of 6.0%. Looking further ahead, the market is expected to grow at a CAGR of 6.4%, according to recent reports.
Among the various nut types, almond ingredients command a significant share, with the global almonds ingredients market projected to grow from $12.2 billion in 2024 to $29.1 billion by 2034, at a CAGR of 9.1%. Whole almonds dominate the market, with over 37.8% share in 2024, primarily due to their versatility, nutritional benefits, and popularity in healthy snacks and dairy alternatives such as almond milk.
Macadamia nuts are also notable, with projections to reach $3.4 billion by 2034, growing at a CAGR of 9.3%.
In terms of forms, whole nuts remain the dominant form, especially whole almonds, due to their clean-label appeal and ease of use in both sweet and savory food formulations.
Leading applications in the nut ingredients market include snack foods, bakery and confectionery, dairy alternatives, beverages, nutritional bars, and health supplements. Trail mixes, which often combine nuts with dried fruits and seeds, represent a growing market segment with an expected CAGR of 6.3% from 2024 to 2034.
The market is broadly distributed across retail outlets, including supermarkets and health food stores, online retail, the food service industry, especially in cafes and fast-casual dining that emphasize healthier options, and industrial and bulk supply for processed foods and snack manufacturing.
The Asia-Pacific region holds a dominant position in the almonds ingredients market, accounting for 42.9% of the market share in 2024, translating to about $5.2 billion in value. North America and Europe also show strong demand, especially for clean-label and minimally processed nut products.
Key players in the market include Borges Agricultural & Industrial Nuts, Bergin Fruit and Nut Company, Archer-Daniels-Midland Company, and Barry Callebaut Group, among others. These companies are introducing innovative products to cater to the growing demand, such as roasted and flavored almond ingredients, organic and non-GMO nut ingredients, new almond and peanut protein isolates for plant-based foods, and a range of hazelnut and almond pastes for confectionery and bakery applications.
However, the market is not without its challenges. Price volatility due to climate challenges and supply chain disruptions can strain smaller businesses in the nut ingredients market.
In conclusion, the nut ingredients market shows robust current growth and promising long-term expansion driven by health trends, innovation, and sustainability focus across diverse applications and channels. The market's significant impact on the global economy includes supporting agricultural sectors, driving innovation, and stimulating retail and e-commerce growth.
- The growth in the nut ingredients market is not only influencing the snack food industry but also the health-and-wellness sector, as the focus on nutrition and health consciousness fuels demand for nutrient-rich foods like almonds and macadamia nuts.
- The rise in the nut ingredients market is significantly impacting the business landscape, with companies in the food-and-drink industry increasingly focusing on innovative products that cater to ethical, sustainable, and clean-label trends, such as almond milk, roasted almonds, and organic nut ingredients.
- Alongside its influence on the food and drink industry, the nut ingredients market is also shaping the finance sector by stimulating e-commerce growth, as more consumers opt for online retail outlets to purchase healthier lifestyle products, such as nutritional bars, trail mixes, and various nut-based health supplements.
