LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global pine nuts market to grow at a CAGR of almost 21% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global pine nuts market for 2017-2021. The report covers different kinds of pine nuts and their growth prospects for the forecast period.
In terms of revenue, the global pine nuts market is expected to witness a steady growth through 2021. There is a growing demand for pine nuts worldwide because of the rising awareness of their health benefits. Apart from their multiple usages in several types of food and beverages, these nuts are widely used in the cosmetics industry.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global pine nuts market:
- Multiple health benefits associated with pine nuts
- Different usages of pine nuts
- Convenience of consuming pine nuts
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Multiple health benefits associated with pine nuts
Urbanization has helped change the lifestyle and dietary habits of people across the world. The increase in population and growing obesity rates are major drivers for the growth of the market. There has been an exponential increase in the consumption of natural food products. Consumers are becoming more conscious about their health and fitness and paying more attention to the nutritional content of the food that they consume.
Atul Kumar, a lead food research analyst at Technavio, says, “The health-conscious population demands foods that have lower calorie content but have the right combination of essential nutrients. Hence, healthy eating has increased the demand for pine nuts as they are unprocessed and contain vitamins, fibers, and naturally occurring minerals. Pine nuts help in reducing weight.”
Different usages of pine nuts
Pine nuts can be used in numerous ways. Pine nuts are part of the traditional food in Europe, Asia, and the Americas. These are consumed in diverse ways, with vegetables, meat, fish, and desserts (like gourmet chocolates). Pine nuts are also used in snack bars, salad dressings, spreads, and Italian dishes.
“In addition, related products like pine nut oil also find an extensive usage in the preparation of food items. Refined pine nut oil is obtained from cold-pressed pine nut kernels. The pine nuts are slightly toasted and crushed, and are then pressed mechanically by a stone mill without the application of heat to obtain the cold-pressed oil,” adds Atul.
Convenience of consuming pine nuts
Developed and developing nations are moving toward urbanization. In 2015, as per the World Bank, 53.85% of the global population resided in urban areas. Urbanization indicates a rise in the per capita annual household disposable income of consumers. There has been a considerable shift in the lifestyle and dietary habits of consumers over the last two decades.
The fast-paced lifestyle of consumers is making it difficult for them to find time to prepare food from scratch. Thus, they are looking for convenient, healthy food products that fulfill their daily nutrition requirements, are easy to eat, and can be consumed on-the-go.
Top vendors:
- Dashi International
- Prime
- Sabra Dipping
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