North America Nut Ingredients Market

North America Nut Ingredients Market Overview Analysis:

Nuts are classified as oily kernels present within a 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 has hard shell walls and are originated from the compound ovary of the fruit. Nut ingredients include nuts such as almond, cashew, walnuts, pecans, peanuts, hazelnut, Pine nuts, soy nuts, sunflower nuts, and others. Nuts 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 nut, peanuts, hazelnuts, and walnuts.

North America Nut Ingredients Market Growth Rate:

North America Nut Ingredients market is anticipated to grow at 5.51% CAGR from 2021 to 2026 and it is estimated that the North America market was valued at USD 0.59 billion in 2021 and is expected to reach USD 0.78 billion by 2026.

The North America 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 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 the growing need of consumers to consume healthy food. Growth in the focus on preventive health care and launching of healthier products with an assortment of nut ingredients is the major driving factor of the market.

North America Nut Ingredients Market Segmentation:

The North America market is segmented on the basis of Type, Form, and Application. On the basis of Type, it is segmented into Almonds, walnuts, Hazelnut, cashews. On the basis of Form, it is segmented into Roasted & Chopped, Other Forms of Nut Ingredients. On the basis of Application, it is segmented into Confectioneries, Dairy products, Bakery products, Snacks and Bars, Desserts, Cereals, Beverages. The snacks and bar segment has seen the highest rise in the consumer market owing to the wellness and health trends.

Regional Presence of the North America Nut Ingredients Market:

On the basis of geography, the market is analyzed under various regions namely U.S. and Canada. North America held the second largest share of the market. An Increase in the snacking and confectionery industry and demand for convenient and on-go-option snack foods has strengthened the growth of the market and hence is projected to significantly expand the revenue contribution of the market over the forecast period.

Leading Key Companies covered in this market report are:

The market is dominated by companies like 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 Friut and Nut Company, Wenders, and The Hershey Company.