The global market for nuts and seeds consists of a large number of small, medium, and large-sized market players who are aiming to capitalise on the huge consumer base. Owing to the omnipresent demand for nuts and seeds, the global market is highly fragmented and no single player has a clear lead over other market players. The manufacturers of nuts have been focusing on employing workable marketing strategies to persuade the customers into buying the wide range of edible nuts available in the market. On the other hand, the growth of the manufacturers of seeds largely depends on advancements in the field of food processing and biotechnology.
It is anticipated that the international players in the global market for nuts and seeds would resort to a key business strategies to maintain their foothold in the global market. Furthermore, mergers and acquisitions are also expected to emerge as lucrative strategies for the established market players. The smaller market players hold a substantial share of the global market because the sale of nuts and seeds can be facilitated through local channels and outlets. There are negligible barriers to the entry of new market players, which is expected to further fragment the global market for nuts and seeds over the coming years. Blue Diamond Growers Inc., Cargill Incorporated, Bayer Crop Science A.G., Diamond Foods Incorporated, Syngenta A.G., Richardson International, and McCormick and Company Inc. are some of key players in the global market for nuts and seeds.
The global market for nuts and seeds is projected to grow at a stellar CAGR over the period between 2015 and 2021. The market accumulated total revenues worth US$1,157.72 bn in 2015 and this figure is expected to reach US$1,279.44 bn by 2021, estimates Transparency Market Research (TMR).
Health Benefits of Nuts and Seeds to Drive Demand
A number of nutritionists and medical experts have agreed to the health benefits served by consumption of nuts and seeds in moderate amounts. This has driven demand within the global market for nuts and seeds and has snowballed the growth of the market players. Genetically modified crops have also surfaced in the global market which has proved to beneficial for the manufacturers of seeds. The tremendous advancements in biotechnology have enabled the production of better-quality seeds, which has reinstituted the faith of the consumers in the new varieties. Edible nuts are believed to be beneficial for patients suffering from heart diseases, hypertension, diabetes, and gallstones. Besides this, regulated consumption of nuts is also believed to control body weight, improve the metabolism rate, and reduce bad cholesterol. Hence, the demand within the global nuts and seeds market is expected to reach unprecedented levels over the forthcoming years.
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High Cost of Products to Hamper Growth
The processing of nuts and seeds is a complex process that adds to the net cost of the products. Thereby, the high costs of nuts and seeds act a hindrance to the growth of the global market. Moreover, excessive consumption of nuts and seeds is believed to shoot up blood cholesterol levels, trigger obesity, and cause respiratory disorders. This factor is also expected to hamper the growth of the global nuts and seeds market.