NEW YORK, March 31, 2023 /PRNewswire/ — Technavio has been monitoring the tree nuts market, and it is expected to grow by USD 20,008.42 million from 2022 to 2027. As per the latest report, the market will progress at a CAGR of 7.15% during the forecast period. This report aids business leaders with an up-to-date analysis that includes the study of the current market scenario, the latest trends and drivers that are likely to influence the market growth, and the overall market environment. An increase in the use of tree nut oils in the cosmetics industry is the primary trend influencing the tree nuts market growth during the forecast period. The oils extracted from the tree nuts serve as a skin and hair-nourishing agent and can be used for treating dark circles and pain. This has resulted in an increase in the use of tree nut oils in the cosmetic industry. Hence, due to high awareness among consumers about the cosmetic benefits of tree nut oils, their demand has increased across regions, which is driving their adoption in the cosmetics industry. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report
Tree Nuts Market 2023-2027: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our tree nuts market report covers the following areas:
Major Driver
The growing popularity of tree nuts as a preferred snack option among millennials is a driver for the tree nuts market. The purchasing power of millennials across the globe is increasing. They are expected to form a large consumer segment during the forecast period. The increased consumption of tree nuts globally can be attributed to several health benefits and the preference for convenient, portable snacking options. The players in the market are coming up with new and innovative snacks to cater to the rising demand from the millennial population base.
