The United States nuts market is projected to witness a CAGR of 2.02% during the forecast period (2020 - 2025).
- The growing popularity of healthier snacking and eating habits among American consumers continue to encourage consumption of nuts, both tree nuts and groundnuts. The fight against cardiovascular diseases, the desire for better health and wellbeing, along with the publication of scientific studies highlighting the benefits of nut consumption, are likely to continue fueling demand for these products. - Nuts are widely regarded as nutritional dynamite among American consumers. Hence, due to the nutritional benefits offered by nuts and the country’s self-sufficiency in its production, they serve as a great snack substitute.? - The growing vegan population in the country is also accelerating the growth of the market as an increasing number of Americans are seeking for plant-based protein diet. Hence nuts are broadly considered as a good alternative for fish and eggs for fulfilling calcium and vitamin B12 needs.
Key Market Trends Surge in Demand For Healthy Snacking
The increasing demand for functional, better-for-you snack mixes or trail mixes, with an emphasis on those offering a clean label, protein, and all-natural ingredient, is one of the major factors driving the growth of the nuts market in the country. The per capita consumption of nuts has been increasing at a steady pace, owing to increasing consumer indulgence for healthy snacking.
Moreover, a national shift away from traditional sources of protein, like red meat, has made the protein-packed nut an increasingly popular foodstuff among American consumers. The country’s self-sufficiency in nut production and its wide availability across both on-trade as well as off-trade distribution channels, making it easily accessible for consumers.
Wide Application and Functionality
The diverse applications of tree nuts, such as walnuts, almonds, cashew, pistachio, and others, ranging from an ingredient in food and beverage products to wholesome snacks and increased awareness about its benefits among the American consumers, have played a key role in significantly accelerating its growth.
As high-protein products enter the mainstream, the focus is more on the source of protein. Hence, nut products such as bakery products or as a dressing in frozen desserts are expected to flourish during the forecast period. About 73% of the consumers in the United States believe that nuts are a good source of protein, and thus, companies are innovating their nut offerings from salted to plain unsalted in order to cater to demands in the market.
Competitive Landscape The US nuts market is competitive, with a significant share held by the leading players, such as Olam International, Blue Diamond Growers, and Tierra Farm Inc., among others.
These key players in the market aim at offering the right product to the right consumer. Consistent innovation in product quality, variety, usage, and other attributes is highly essential to maintain a strong foothold in the market.
Further, other players, such as SunOrganic Farm, Walmart Inc., Waterford Nut Company, and Mariani Nut Company, among other players, are also marketing their products by introducing sustainable and convenient packaging of nuts, to attract more buyers.
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