The Latin America Nut Ingredients Market is predicted to grow at a CAGR of 6.12% from 2024 to 2029 and the market size is expected to be valued at USD 418.17 million by 2029 from USD 310.72 million in 2024.
Nuts are classified as oily kernels present within the shell of the fruit and are used in a variety of food products worldwide. Seeds are mostly taken from various fruits that are not present in the shell of the fruit such as hazelnuts, chestnuts, and others, that have hard shell walls and are originated from the compound ovary of the fruit. Nut ingredients include nuts such as almonds, cashews, walnuts, pecans, peanuts, hazelnuts, Pine nuts, soy nuts, sunflower nuts, and others. Nut ingredients are very beneficial in product formulations and hence are considered a preferred choice for food manufacturers. Nut ingredients provide important nutrients to consumers as they provide taste as well as health benefits to consumers. Many manufacturers are offering new product innovations with almonds along with all other food introductions with nuts such as cashew nuts, peanuts, hazelnuts, and walnuts. The Latin American nut ingredients market is driven by factors such as an increase in the demand for ready-to-eat snack foods coupled with the convenience of foods. The growing opportunities in the snacks and confectionery industry is also another factor driving the nut ingredients market along with a rise in the number of varieties and flavors in nut ingredients snacks leading to the introduction of a variety of nuts such as walnut, almond, peanut, hazelnut, pecan, and others. Manufacturers are focusing on providing healthier product offerings to cater to the growing need of consumers to consume healthy food. Growth in the focus on preventive health care and the launching of healthier products with an assortment of nut ingredients is the major driving factor of the market.
Latin America is at a nascent stage and is projected to register lucrative growth over a forecast period.
Archer Daniels Midland Company, Olam International Limited, Barry Callebaut Group, Kerry Group, Kanegrade, H.B.S. Foods Ltd., CACHE CREEK FOODS, ROYAL NUT COMPANY, Helios Ingredients, Bergin Fruit and Nut Company, Wenders, The Hershey Company are some of the notable companies in the Latin America Nut Ingredients market.
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