NUTS & LEGUMES
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
Global legumes & Nuts Market
The global legumes market was valued at USD 44.9 billion in 2017 and expected to reach USD 75.8 billion in 2025 at a CAGR of 6.77% from 2017 to 2025. Rising consumer awareness concerning food benefits coupled with health concerns has resulted in a shift to healthy alternatives. Legumes are considered to be economical and healthy food ingredients that form a part of a balanced diet.
The beans market value was estimated to be USD 26.6 billion in 2017 and is projected to reach a market size of over USD 46.1 billion by 2025 with a CAGR of around 7.1%.
Beans are rich in mineral and fibers content without saturated fats which helps people to improve blood cholesterol and prevent heart diseases. Beans are consumed with pita bread, soups, salads, and pasta dishes.
Consumers have inclined towards gluten-free and high protein foods, which drove them to consume foods made from grain and legumes such as beans, lentils, peas, and others. It has been observed that bean pasta is an emerging trend in the U.S. as well as global market.
Pea accounts for more than 22% of the global market and is expected to grow at a CAGR of 6.8% from 2017 to 2025. In 2017, worldwide production of dry peas was more than 12,000 million metric tons. China, Canada, Russia, India, U.S., France and Ukraine represent the major pea producing countries.
Canada is the major dry and yellow pea exporter followed by the U.S. and France. The popularity of pea-based snacking items in the market is increasing as they are offered in different flavors, including onion, cheese, lemon, sweet chili, and chive. Therefore, companies such as The Good Bean, The Happy Snack Company are offering various legume-based snack products which will boost the overall legumes market from 2017 to 2025.
Competitive Landscape
Some of the major players operating in the market are Archer Daniels Midland Company, B&G Foods, Inc. Conagra Brands Inc., EDEN FOODS, General Mills Inc., Dunns (Long Sutton) Limited, Olam International and others. The market is fragmented by nature with the presence of many small and medium level suppliers.
The significant trend observed in this market is that large scale food and beverage manufacturers are acquiring small companies to gain a significant share in the global market. For instance, Archer Daniels Midland Company has acquired Caterina Foods which manufactures gluten-free pasta from different legumes. This has opened up a new opportunity for Archer Daniels Midland Company to produce different specialty pasta from legume grains.
​
JAMAICA MARKET
Here in Jamaica we have native tree nuts such as almond, cashew and black walnut; this latter species is rare, but exists. I have a cashew tree in my garden and look forward to the season as we also make juice from the fruit. The island also grows peanuts. In St Elizabeth in particular, you see plots of land with rows and rows of peanuts, and in Middle Quarters
Export market prices for Jamaica nuts
Prices for Jamaica nuts have changed over time. Prior to 2019, 1 kg of nuts was going for US$4.38 in 2017 and US$4.40 in 2018. In 2019 the export price changed to $3.13 per kilo, by -28.806%.
Some of the best performing markets in 2019 for Jamaica nuts for a kilo were from exports to US, Germany and United Kingdom (UK). The Jamaica nuts exports are categorized as:
-
Nuts, fresh or dried, whether or not shelled or peeled (excluding coconuts, Brazil nuts, cashew nuts, almonds, hazelnuts, filberts, walnuts, chestnuts, pistachios, macadamia nuts, kola nuts and areca nuts) (HS code 080290)
​
Export values for Jamaica nuts
The total values in export for nuts in Jamaica were US$ 190, US$ 359, US$ 88 and US$ 264 in US dollar thousand for the years 2016, 2017, 2018 and 2019 in that order.
​
.jpg)
.jpg)
PEANUT MARKET
The peanut, also known as the groundnut, goober, pindar or monkey nut, and taxonomically classified as Arachis hypogaea, is a legume crop grown mainly for its edible seeds.
The peanuts market is projected to register a CAGR of 4.5% during the forecast period, 2021-2026.
Due to COVID-19, the peanut exporting countries have been hard hit with the decline in demand in importing countries amid the lockdown. Additionally, manufacturing industries in most of the developing nations were also closed for months. This resulted in a decline in demand for peanuts globally. However, the peanut demand has returned to pre-COVID-19 levels currently and is expected to increase during the forecast period, as exporters are experiencing demand from Southeast Asian countries and the European region.
As of 2019, China and India are the largest consumers and exporters of peanuts in the world, accounting for more than 36.0% of the global consumption. However, peanut consumption increased dramatically in Senegal at the rate of 12.0% during 2016-2018.
​
OPPORTUNITIES
The Netherlands, Germany, and the United Kingdom are the three countries that offer ample opportunities to exporters of peanuts in developing countries. In the future, the European market for peanuts is expected to grow due to the changes in the consumption patterns of customers, as plant-based protein is gaining popularity instead of meat-based protein. With people becoming more interested in healthy eating, peanuts are expected to become an important source of unsaturated fats, fiber, proteins, vitamins, and minerals
.jpg)
.jpg)
.jpg)
CASHEW MARKET
The cashew tree is a tropical evergreen tree that produces the cashew seed and the cashew apple pseudofruit. The tree can grow as high as 14 m, but the dwarf cultivars, growing up to 6 m, prove more profitable, with earlier maturity and greater yields. The cashew seed is commonly considered a snack nut (cashew nut) eaten on its own.
The global cashew market is projected to register a CAGR of 4.6% during the forecast period (2021-2026).
COVID-19 had a direct and unfavorable impact on the cashew market, globally. Global lockdown to curb and contain the pandemic adversely affected the distribution channels. Value addition activities were affected as a disrupted distribution channel lowered the availability of end-products of cashew nuts in the market. Producers from West Africa suffered as they were unable to send cashew to Vietnam and India for processing due to the lockdown. The delays in collection and shipment will ultimately result in lower yields than normal, further reducing the overall kernel supplies.
On the other hand, there is a global trend that looks favorably at vegan and plant-based diets. People who embrace a plant-based vegan diet prioritize alternative sources of protein, instead of those derived from animals, resulting in the soaring demand for nuts and nut-infused foods.
Increasing demand for flavored cashews and favorable government initiatives are further fueling the consumption of cashew nuts in the African region. In 2018, among all the cashew producing nations, African countries contributed 56.5% to the global production, while Asian countries contributed 44%. In the last eight years, Vietnam has been the largest supplier of cashew to the United States, China, Australia, Canada, and New Zealand. Furthermore, cashew production is growing tremendously in Vietnam. The Vietnamese government commissioned a study of Oltremare’s machines when developing its own cashew industry.
​
OPPORTUNITIES
Edible cashews have been used as a snack for a long time. Cashews are also used as one of the main ingredients in preparing various sweet and savory dishes, especially in Asian cuisine. Moreover, nowadays, cashews are used in mueslis, energy bars, cookies, chocolates, and ice creams. Cashews are known to be high in nutrients, such as copper, which improve bone health, as one ounce of cashew contains 622 micrograms of copper. Nevertheless, cashews have an inflation-driven consumption pattern, as reported by the International Nut and Dried Fruit Council.
Cashews are relatively high in fiber compared to peanuts, and they help gain healthy weight by improving digestive function. Such high-value nutrition has prompted snack manufacturers to launch several cashew-based snacks to meet the demand, such as the ready-to-drink cashew milk, which acts as a lactose-free milk substitute. Due to increasing health consciousness among consumers in the European region, there has been a growing trend of cashew nut consumption. Recently, cashew nuts are also increasingly being used as an ingredient in spreads and snack bars (especially organic), boosting cashews' consumption overall.
ALMOND MARKET
.jpg)
.jpg)
.jpg)
.jpg)
Almonds are the edible seeds of Prunus dulcis, more commonly called the almond tree.
They are native to the Middle East, but the US is now the world’s largest producer.
The almonds you can buy in stores usually have the shell removed, revealing the edible nut inside. They are sold either raw or roasted.
They are also used to produce almond milk, oil, butter, flour or paste — also known as marzipan.
Almonds boast an impressive nutrient profile. A 1-ounce (28-gram) serving of almonds contains (1):
-
Fiber: 3.5 grams
-
Protein: 6 grams
-
Fat: 14 grams (9 of which are monounsaturated)
-
Vitamin E: 37% of the RDI
-
Manganese: 32% of the RDI
-
Magnesium: 20% of the RDI
-
They also contain a decent amount of copper, vitamin B2 (riboflavin) and phosphorus.
The global almond market is expected to grow at a CAGR of 4.47% over the forecast period to reach a total market size of US$12.073 billion by 2025, increasing from US$9.286 billion in 2019.
Almonds are consumed worldwide due to its health benefits and are also utilized in the form of food inclusions; hence, the growing food inclusions market will have a positive impact on the growth of the global almond market during the forecast period. Almonds can be preserved for a longer duration in comparison to the fresh fruits and they also serve as handy snacks, especially for long journeys, and there is no need for refrigeration as well which is why they are widely accepted around the globe.
OPPORTUNITIES
For instance, according to multiple surveys, the vegan population in the United Kingdom has increased substantially over the past few years, with strong growth still anticipated during the forecast period. Major market players are focusing on the almond health positioning and consumer marketing efforts and creating a model and approach to developing markets like India, and China.
Furthermore, expanding the e-commerce industry in the United Kingdom is attracting new market players to enter the market with advance and innovative products, thus increasing competition and further propelling the market growth opportunities for manufacturers and vendors. In fact, according to the United Nations Industrial Development Organization, the E-commerce market contributed to more than7.12% of the United Kingdom's GDP in 2018. Also, the UK is the third-largest B2C market in the world with an estimated $174.2 million online sales of goods and services in 2016.
BEAN MARKET
.jpg)
.jpg)
GUNGO PEAS
PIGEON PEAS
A tropical plant of the pea family, pigeon peas are generally grown as a food crop. They have a high nutritional value which makes them an ideal supplement to the diets that are protein-deficient. They not only offer nutritional benefits but also help to tackle health related issues such as cough, acidity, stomach pain, poisoning, piles and swelling of internal organs. Widely used in animal feed, fuel wood, rearing lac insects, green manuring, soil conservation and windbreaks, pigeon peas have now become an extremely important crop as they are cultivated in virtually every tropical country of the world. Furthermore, the perennial nature of pigeon peas allows farmers to take multiple harvests. The resulting surplus can be traded in both local and international markets. Factors such as population growth, improving living standards and growing health awareness among the consumers are currently influencing the demand for pigeon peas in the global market. According to IMARC Group, the global pigeon peas market reached a volume of 11.6 Million Tons in 2020.
provides a detailed insight into the global pigeon pea market. The report has segmented the market on the basis of major geographies. Currently, India represents the largest producer of pigeon peas accounting for around 70% of the total global production. India is followed by Myanmar, Malawi, Kenya and Tanzania. The report has also analysed the top exporting and importing countries in the global pigeon pea market. Myanmar represents the biggest exporter of pigeon peas accounting for nearly 90% of the total global export volumes. Myanmar is followed by Tanzania, Sudan, Kenya, France, Ecuador, Sri Lanka, Peru, India and Malawi. Among the top importing countries, India represents the biggest importer of pigeon peas accounting for more than 95% of the total global import volumes. India is followed by Zimbabwe, the United States, Peru, United Kingdom, Malaysia, Australia, Sri Lanka, Nepal and Canada. Looking forward, the global pigeon pea market is expected to exhibit strong growth during the next five years.
VICIA FABA
BROAD BEANS
Vicia faba, also known in the culinary sense as the broad bean, fava bean, or faba bean, is a species of flowering plant in the pea and bean family Fabaceae. It is widely cultivated as a crop for human consumption, and also as a cover crop. Varieties with smaller, harder seeds that are fed to horses or other animals are called field bean, tic bean or tick bean. Horse bean, Vicia faba var. equina Pers., is a variety recognized as an accepted name
Market Overview
The global fava bean market is projected to register a CAGR of 4.0% during the forecast period (2021-2026). Due to Covid-19, there has been a labor shortage in the agriculture industry due to movement restrictions and difficulties in importing and exporting agriculture products as the whole supply chain is affected, including producers, broker, and transport companies. Fava bean contains various vitamins, minerals like iron, magnesium and phosphorous, fiber, protein and offers impressive health benefits. The drive towards maintaining a healthy lifestyle by way of healthy eating trends coupled with the increasing awareness about the benefits associated with fava beans has spurred market growth. Today, fava beans are part of Asian, Middle Eastern, European, South American, and African cuisines as they're an excellent and versatile addition to a healthy, balanced diet. It is considered effective in maintaining blood pressure, boosting the immune system, and improving bone health in the human body. Fava bean flour is also used in the production of bread and pasta which drives the global fava bean market. Continuous volatility in fava beans prices hinders the growth of the global fava beans market.
​
OPPORTUNITIES
Growing Demand for Nutritional Food
The high nutritional benefits and also increase accessibility and availability of fava bean through organized retailing have been one of the primary drivers of the global fava bean market. Healthy eating trends around the world are promoting the consumption of foods that are rich in nutrients. Thus, the demand for fava bean is increasing among health-conscious consumers, thereby promoting the growth of the global fava beans market. The rapidly growing vegan population on a global level as a result of increasing concerns regarding cardiovascular disorders associated with red meat is expected to remain a favorable factor for the market. These beans are positioned as a rich source of protein which has resulted in increased demand from fitness-conscious consumers.
KIDNEY BEANS
RED PEAS
The global pea protein market size was valued at USD 213.1 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 12.7% over the forecast period. The growth is driven by the rising product demand owing to increasing consumer awareness regarding the consumption of a healthy diet and leading an active lifestyle. In addition, increasing product innovation, in terms of manufacturing, that perform specific functions, including energy balance, weight loss, muscle repair, and satiety, is expected to create immense market potential. The protein is extracted from various types of pea varieties, including dry, green, and chickpeas, available in concentrates, textured, and isolates form.
​
OPPORTUNITIES
Pea protein is a high-quality source of protein derived primarily from yellow peas. Rich in essential nutrients such as arginine and branched-chain amino acids, it has a neutral taste and is sold in various forms such as powder, bar and milk. It finds wide applications in the food industry where it is used as a food additive, dietary supplement and dairy protein alternative. A rich source of iron, it is an entirely vegan food option which can be easily digested by the body without any bloating, unlike most other protein supplements. However, its consumption can have a reaction in people with an allergy to peas or peanuts.
The growing trend of vegan- and vegetarianism is one of the key factors driving the market growth. Since the consumption of red meat has been linked to the development of several heart-related diseases, it is encouraging consumers to seek non-meat protein options. Products containing pea protein have thus become a preferred choice for such consumers as it is an ideal alternative to meat-based sources of protein. Furthermore, it is gluten- and dairy-free owing to which it serves as a suitable option for people who suffer from lactose intolerance or gluten allergy. It also forms an integral part of several weight-management and sports nutrition products which are becoming popular among health-conscious consumers. Moreover, rising disposable incomes leading to rising health and wellness expenditures is also driving the market growth.