Popularity and consumption of nuts driving global nut processing forward
The nut processing machine market will reach US$ 72.5 billion, growing at a 5.6% CAGR, reveals Future Market Insights.
According to Future Market Insights, the global nut processing machines market is poised to reach US$ 42100 million in 2023 and further accelerate at a CAGR of 5.6% between 2023 and 2033.
Overall nut processing machine sales are expected to total a valuation of US$ 72597.4 million by 2033.
Rising popularity and consumption of various types of nuts across the world and increasing penetration of automation are the key factors driving the global nut processing machine industry forward.
The nut processing machines have completely changed the way nuts were processed traditionally.
The adoption of these machines significantly reduces the need for labour and helps industries to improve overall productivity.
Growing demand for both nuts and the products made from them is expected to boost the worldwide nut processing machine market during the forecast period.
Nuts like almonds, peanuts, and walnut are being increasingly used to make nutritious snacks because they are rich in protein and fibre.
To consume higher amounts of nutrients, people are turning to nutritious foods that comprise nuts, dried fruits, milk, and veggies.
This is creating enormous pressure on nut processing companies and to address this, they are employing new automatic nut processing machines in their facilities.
Another key factor expected to aid in the expansion of the global nut processing industry is the growing awareness about the potential health benefits of nuts.
Key takeaways from nut processing machine market
- The global nut processing machine market is expected to grow at a CAGR of 5.6% during the forecast period.
- Based on product type, shelling and peeling equipment collectively hold a significant share of the global nut processing machine market.
- By mode of operation, sales of automatic nut processing machines are likely to outpace those of semi-automatic ones.
- With around US$ 15998 million valuation, North America leads the global nut processing machine market.
- The US holds around 68% share of the North America nut processing machine market
- The Asia pacific accounts for around 18% share of the worldwide nut processing machine market
These insights are based on a report on the Nut Processing Machine Market by Future Market Insights