Tree Nuts Market Research Report Information by Product Type (Cashew Nuts, Walnuts, Almonds, Pistachios, Hazelnuts, Chestnuts, Brazilnuts, Macadamia Nuts, Others), by Form (Whole, Splits, Others), By Application (Direct Consumption/Culinary Purpose, Bakery & Confectionery, Breakfast Cereals, Snacks, Flavored drinks, Butter & Spreads, Diary Products, and Others), By Distribution Channel (B2B, and B2C), And By Region (North America, Europe, Asia-Pacific, Rest of World) - Forecast Till 2032

Global Tree Nuts Market Overview

Tree Nuts Market Size was valued at USD 53.212 Billion in 2023. The Tree Nuts industry is projected to grow USD 56.88 Billion in 2024 to USD 94.655 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.57% during the forecast period (2024 - 2032). The growth of the market of tree nuts can be attributed to rising consumer demand for healthy and nutritive foods and the adoption of veganism. 

The widespread application of tree nuts in bakeries and confectionery, breakfast cereals, and butter and spreads is expected to drive market growth. Moreover, the rising prevalence of nut allergies among consumers is expected to restrict the growth of the tree nuts market at a global level. The rapidly growing organic industries and increase in literacy about the healthy organic food and concern about the health are mainly driving the market growth. The changing consumer behavior patterns for food and beverages globally is also one of the factors that affect the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Tree Nuts Market Trends

• Consumers Preference for Highly Nutritive Nut Snacks

Nuts are a rich source of protein, fiber, and other essential nutrients leading to their use in healthy snack products. Increasing health consciousness is driving the adoption of snacks that are rich in protein, fiber, vitamins, and healthy fats. Moreover, consumers tend to experiment with snack choices, which has influenced the key market players to introduce various flavors in their tree nut products. For instance, the sale of cashew nuts has increased with the introduction of innovative flavors such as pepper and salt, honey sugar, and chocolate. Furthermore, Blue Diamond Growers offers oven-roasted coffee almonds under the café mocha flavor segment. Thus, the introduction of flavored nuts is driving the demand for tree nuts in nutritive snacks. The processing and addition of flavor also results in increased shelf life and enhanced appearance of tree nuts. The growing application of tree nuts in various snack products is boosting the overall growth of the market. For instance, almonds are used as a popular addition to cookies, protein bars, and energy bars. Changing lifestyles, a growing working population, and the rising demand for meal replacements are contributing to the increased demand for nutritional snacks, which is driving the growth of the Tree Nuts Market.

Segment Insights

Tree Nuts Product Type Insights

The Tree Nuts Market segmentation, based on product type, includes Cashew Nuts, Walnuts, Almonds, Pistachios, Hazelnuts, Chestnuts, Brazil Nuts, Macadamia Nuts, and others. The Almonds segment accounted for the largest market share of 28.18% in 2022 and is likely to register a CAGR of 7.68% during the projected period. The almond tree is native to South-Western Asia and is popular for its edible seed. The US is the largest producer of almonds in the world. Almonds thrive in a climate that has mild, wet winters and hot, dry summers. It is a versatile tree nut and is available in various forms such as whole, blanched, slivered, flaked, and ground. Almonds are packed with vitamins, minerals, antioxidants, and phytochemicals beneficial for health. There are mainly two varieties of almonds, sweet and bitter. Sweet almonds are edible and used in cooking or as a source of oil or meal whereas, the oil of bitter almonds is used in manufacturing flavorings and extracts for foods and liqueurs after the removal of prussic acid.

Figure 1: Tree Nuts Market, by product type, 2022 & 2030 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Tree Nuts Form Insights

The Tree Nuts Market segmentation, based on form, includes Whole, Splits, Others. The whole segment accounted for the largest market share of 69.8% in 2022. Most tree nuts including almonds, cashews, and walnuts, are consumed whole. The high demand for whole tree nuts can be attributed to their widespread consumption directly or for culinary purposes. Tree nuts are also consumed as snacks, wherein the whole form is marketed with innovative flavors. The whole segment accounted for the largest share of 69.85% in 2022 and is projected to exhibit the highest CAGR of 7.35% during the forecast period.

Tree Nuts Application Insights

The Tree Nuts Market segmentation, based on application, includes Direct Consumption/Culinary Purpose, Bakery & Confectionery, Breakfast Cereals, Snacks, Flavored Drinks, Butter & Spreads, Dairy Products, and others. The Bakery & Confectionery segment held the majority share in 2022 with respect to the tree nuts industry revenue. Tree nuts find widespread application in the bakery & confectionery segment. They are used in the form of flour, chunks, split, or whole. Tree nuts are used as an active ingredient or as toppings for bakery products such as cakes, pastries, and cookies. The rising demand for meal replacement bars such as energy, snacks, and yoga bars has influenced the demand for tree nuts in the confectionery segment. The growth of the bakery and confectionery industry is driving the demand for tree nuts in this segment. The bakery & confectionery segment accounted for the largest market share of 30.21% in 2022 and is projected to register the highest CAGR of 8.02% during the forecast period.

Figure 2: Tree Nuts Market, by Application, 2022 & 2030 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Tree Nuts Distribution Channel Insights

The Tree Nuts Market segmentation, based on distribution channels, includes B2B and B2C. The B2B segment accounted for a higher market share in 2022 and is expected to witness the highest CAGR. Business-to-consumer (B2C) refers to the practice of offering products and services directly to consumers who will utilize them in the long run. B2C enterprises are the businesses that sell directly to consumers. The onset of covid-19 has increased the usage of tree nuts for making cakes in household which is usually considered under B2C channel and further contributes to its segmental growth. 

Figure 3: Tree Nuts Market, by Distribution Channel, 2022 & 2030 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Tree Nuts Region Insights

The Tree Nuts Market segmentation, based on region, includes North America, Europe, Asia-Pacific, Rest of the World. The Asia Pacific region accounted for a higher market share in 2022 and is expected to witness the highest CAGR. Asia-Pacific is expected to be the largest tree nuts industry, in terms of value and volume, during the forecast period. The regional market is projected to register a growth rate of 7.83% during the review period of 2023 to 2030.The growth of the market of tree nuts in Asia-Pacific can be attributed to rapid urbanization and the growing middle-income population driving the demand for healthy food & beverages. Moreover, the increasing per capita disposable income has led to the rising sales of tree nuts. Consumers are ready to pay a premium for functional food & beverages that incorporate tree nuts. The rising health awareness in the region is also driving market growth with key processors of tree nuts targeting the region to enhance sales volumes.

Figure 4: TREE NUTS MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The North American tree nuts market accounted for 26.1% of the total market share in 2022 and is projected to register a growth rate of 8.18% during the forecast period. The expanding product portfolios of key manufacturers are a significant factor in the growth of the market in the region. Innovation in flavors of various beverages is also expected to positively impact the growth of the market in North America. Moreover, the bakery and confectionery industry, where tree nuts are used extensively, has witnessed impressive growth over the last few years. Europe is a lucrative market for tree nuts processors. The regional market accounted for 21.8% of the total market share in 2021 and is projected to register moderate growth during the forecast period. The growth of the tree nuts in Europe can be attributed to the increasing consumption of healthy nutritive food & beverages and high demand for natural and organic products. The market in the rest of the world includes South America, the Middle East, and Africa. The tree nuts market in the rest of the world is expected to reach USD 9,753.36 million by the end of 2030 at a CAGR of 6.03%.

Tree Nuts Key Market Players & Competitive Insights

The Tree Nuts Market is expected to register a notable growth rate during the forecast period. The rapidly growing organic industries and increase in literacy about the healthy organic food and concern about the health are mainly driving the market growth. The changing consumer behavior patterns for food and beverages globally is also one of the factors that affect the market growth. Nevertheless, the growing fast-paced lifestyle and increasing consumption of packaged food & beverage products, several industry players are focusing on launching novel beverages with innovative nutty flavors, creates a great opportunity for market players in the global market for upcoming years. The Market Key players are focused on lowering their environmental footprint and investing in research and development along with strategic growth initiatives such as acquisitions and product launches to strengthen their market position and capture a large consumer base.

Key Companies in the Tree Nuts market include

• Olam International Ltd. (Singapore)


• Diamond Foods Inc. (U.S.)


• Mariani Nut Company, Inc. (U.S.)


• Blue Diamond Growers (U.S.)


• Select Harvests Limited (Australia)


• Waterford Nut Co. Inc. (U.S.)


• Archer Daniels Midland Co. (IL)


• TREE NUTS INTERNATIONAL (Maharastra)


• Lone Tree Nut Company Inc. (IL)


• Sun Valley Nut


• LLC (U.S.)

Tree Nuts Industry Developments

April 2022: Olam food ingredients (“ofi”) announces acquisition to expand its private label capabilities in North America

December 2021: With this acquisition, ADM adds an experienced and successful team of 60 colleagues who serve a growing list of food and beverage customers across Latin America and the Caribbean with a wide range of flavor ingredients and solutions from two state-of-the-art manufacturing facilities in Panama and Colombia.

Tree Nuts Market Segmentation

Tree Nuts Product Type Outlook

• Cashew Nuts


• Walnuts


• Almonds


• Pistachios


• Hazelnuts


• Chestnuts


• Brazil Nuts


• Macadamia Nuts


• Others

Tree Nuts Form Outlook

• Whole


• Splits


• Others

Tree Nuts Application Outlook

• Direct Consumption/Culinary Purpose


• Bakery & Confectionery


• Breakfast Cereals


• Snacks


• Flavored Drinks


• Butter & Spreads


• Dairy Products


• Others

Tree Nuts Distribution Channel Outlook

• B2B


• B2C

Tree Nuts Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • Italy
  
  
  • Spain
  
  
  • UK
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia & New Zealand
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of World
  
  
  
  • South America
  
  
  • Middle East
  
  
  • Africa