Global nut products market is characterized by the following drivers:
Rising health awareness leading to evolving dietary patterns
The increasing consumer health awareness and the rising disposable income across regions are factors that have encouraged people to opt for high-quality nut products. Consumers are increasingly seeking nut products in their daily diet. The health and wellness trend is becoming a preferred marketing strategy within the food industry. The emergence of private labels provides a dynamic market and a fresher health perspective to categories, such as snacks and bars, confectionery, dairy products, and beverages, which are innovated, keeping the health concern at the center stage.
Robust growth projections for the bakery and confectionery sectors
Globally, the bakery and confectionery sectors are among the leading end users of nut products. The promising growth potential of the application sectors acts as a growth impetus to the nut products market. The growth of confectionery and bakeries is attributed to the rising demand for convenience - there has been a significant change in the food consumption pattern of consumers. Ready-to-eat or convenience food products are preferred mainly over home-cooked foods.
The growth rates for bakery and confectionery sectors are expected to witness greater traction in the Asia Pacific and Latin America's developing markets, which are highly inclined toward the western dietary habits of enhanced convenience amidst hectic lifestyles.
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