Edible Nuts Market: Overview
Edible nuts are consumed worldwide for their nutritional value. They have attracted the attention among consumers and the food industry because of their dietary macro- and micronutrients. Advances in harvesting, storage, and processing have propelled strides in the edible nuts market further. The long-shelf life has allowed producers to retain the sensory properties of edible nuts, prolonging the spectrum of opportunities that they can reap over the past several years.
The health benefits associated with edible nuts has been extensively utilized in varieties of recipes. A popular example is the consumption of peanuts. The use of walnuts, almonds, cashew nuts, and pistachios is fast gathering steam not just among affluent class but also among middle-class populations around the world.
Key application areas in the edible nuts market include bakery and confectionery, dairy, and snacks. Developed countries have been expanding the production of almonds and peanuts, in order to meet the worldwide demand for edible nuts through supermarkets and hypermarkets.
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Edible Nuts Market: Key Trends
The growing demand for plant-based beverages is one of the key trend bolstering the prospects in the edible nuts market. The use of edible nuts as a part of dietary constituents in preventing lifestyle-based diseases has been constantly gathering steam. Most of the edible nuts are found to be helpful in reducing cholesterol levels in the blood. The health prospect of edible nuts in reducing the prevalence of coronary heart diseases is boosting the edible nuts market.
However, there exist potential health risks when they are excessively consumed, though they contain high nutrients. For example, excessive consumption of almonds and walnuts through snacking might cause abdominal discomfort and diarrhea. Another key concern is mycotoxin contamination. Kin countries where the food industry is not well-regulated, unlike in developed countries, edible nuts are prone to adverse toxicological effects due to presence of a certain group of mycotoxins. Nevertheless, adoption of Hazard Analysis Critical Control Points (HACCP) system might and help producers and sellers overcome such adverse effects.
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Edible Nuts Market: Competitive Analysis and Key Developments
Food companies looking for sizable stake in the edible nuts market are incorporating these into snacking. They are keen on launching new varieties of energy bars to bolster sales. Players in the edible nuts market have also augmented their investments in bakery and confectionery products. Food companies are expected to benefit from the growing worldwide adoption of good agricultural, storage and processing practices.
A few players are also coming with new packaging designs. Top players are increasingly focused on incorporating new processing technologies.
Some of the key industry participants in the edible nuts market are Waterford Nut Co., Farm Breeze International LLC., GNC Global Nut Company, Select Harvests Limited, Mariani Nut Company, Blue Diamond Growers, Olam International Ltd., Archer Daniels Midland Company, and Diamond Foods, Inc.
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Edible Nuts Market: Regional Assessment
The edible nuts market has seen substantially lucrative avenues in North America. Adoption of state-of-the-art processing and harvesting technologies and systems has helped cement the prominent position of these regions in the global market. Food brands in these regions have been adopting better mycotoxin control in food commodities, and hence have been successful in avoiding the contamination issues. Europe and Japan have also been lucrative markets.
On the other hand, Asia Pacific has been a highly lucrative region for players across the globe. The fast strides made by the snacking industry over the past few years have spurred revenue streams for producers in the edible nuts market. Countries such as India and China have seen substantial rise in demand for energy bars made of edible nuts. Moreover, over the years, brands in the U.S. have been rolling out their premium brands to meet the needs of consumers in emerging markets.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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