The demand within the global nuts and seeds market has been rising on account of the ever-expanding food and beverages industry. The use of nuts and seeds is not restricted to the food sector, and a variety of other products are also manufactured by blending seeds, nuts, and fruits. Hence, there is no contention about the fact that the global market for nuts and seeds would expand at a starry rate. Nuts are used across confectionery products to add taste and flavour to the item, and this factor has majorly propelled market demand. Moreover, the availability of various types of seeds that are used for germination of saplings has also created commendable market demand. Special oils are manufactured with the help of high-quality seeds which has also propelled market demand. There is a high possibility of new and unexplored growth avenues emerging in the global market for nuts and seeds. The preparation of several cuisines including Indian, Thai, and Greek requires nuts and seeds in adequate amounts. Hence, the global market for nuts and seeds is expected to expand at a boisterous pace in the years to come.
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The global market for nuts is expected to expand at a healthy CAGR of 1.7% over the period between 2015 and 2024. The total value of the global nuts market is projected to touch US$1,279.44 bn by 2024, rising up from a value of US$1157.72 bn in 2015. Furthermore, the market for seeds is expected to expand at a robust CAGR of 10.0% over the period between 2015 and 2024.
This report preview by Transparency Market Research (TMR) on the global nuts and seeds market is a deft explanation of the forces of market demand and supply. The presence of multiple regional entities that deal in the sale of purchase of nuts and seeds has been evaluated in this account.
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Cashew Nuts to Attract Commendable Demand
On the basis of product or item, the global nuts market is segmented into cashew nuts, almonds, peanuts, walnuts, and macadamia. Of these, the demand for cashew nuts has been rising at a stellar pace due to the use of these nuts across confectioneries and restaurants. Moreover, several homemade dishes are also garnished with cashew nuts, and this has in turn propelled demand for cashews. Prolonged and excessive consumption of cashew nuts could result in the development of several diseases in the human body. This factor could restrain the demand for cashew nuts in the years to come. The market for seeds is segmented into sesame seeds, sunflower seeds, soybean, corn, and maize. The demand for sunflower seeds is expected to rise at a stellar pace due to the popularity of sunflower oil.
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Asia Pacific Nuts Market and North American Seeds Market Lead the Way
The demand for nuts has been rising at a starry pace in Asia Pacific, majorly due to the abundant availability of cashew nuts and almonds in India and China. Furthermore, several Indian recipes are made out of nuts such as cashews, almonds, and walnuts. This factor has in turn aided the growth of the nuts market in Asia Pacific. The market for seeds in North America has been attracting commendable demand over the recent past. The presence of manufacturing entities operating in the field of biotechnology has propelled regional market demand for seeds.
Some of the key vendors in the global nuts and seeds market are Bayer Crop Science A.G., Blue Diamond Growers Inc, and McCormick and Company Inc.
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