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Fact.MR's latest analysis delivers a comprehensive study on baru nuts market, which combines current market intelligence, technological inputs, statistical anecdotes, and latest market trends. It sheds light on various growth strategies employed by key players to penetrate attractive markets. The report also highlights various growth opportunities emerging across leading segments including product type, end use, and region.
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The global baru nuts market size is valued at US$ 5.1 Million in 2022 and it is poised to exhibit a CAGR of 24.8% during the forecast period (2022-2032). As per the report, the global baru nuts market is expected to reach a valuation of US$ 47 Million by 2032.
Rising demand for healthy food products due to ongoing trend of health and wellness across the globe is driving the baru nuts market and the trend is likely to continue during the forecast period. Baru nuts are a rich source of fiber, vitamins, minerals, antioxidants, and several other nutrients.
Hence, they have become an ideal health alternative to other nuts and are being increasingly used across food industry. Surging usage of baru nuts as snacks and in protein bars will create conducive environment for the key players, opines Fact.MR. As consumers are looking for convenient on-the- go snack options, packaged baru nuts are providing just that.
Crisps or chips contain high levels of salt and unhealthy fats which increases the risk of cardiovascular and other lifestyle disorders. However, introduction of baru nuts as an alternative reduces the risk of these diseases and also is a healthy option adopted by consumers.
Hence, netizens prefer to munch on healthy snack options while binge watching a series or during any leisure activities. To capitalize on this trend, key players are introducing several healthy ready-to-eat snack options with baru nuts as hero ingredient. They are also offering a wide variety of products such as roasted baru nuts, peri-peri baru nuts, and flavored options to gain revenue.
Similarly, growing usage of baru nuts in personal care & cosmetic products is expected to push demand in the market during the forecast period. Baru nut is widely used as a whitening agent in face creams and lotions because it can even out skin tone while giving it a radiant glow.
Baru nuts are used as ingredients in lotions, lip balms, hair oils, conditioners, shampoos, and soaps due to their ability to provide fatty acids (almond oil) and minerals (calcium) that are helpful to keep skin elastic and healthy. Thus, increasing production and consumption of these products will eventually expand the global baru nuts market during the forecast period.
Regionally, North America is expected to remain at the top of the ladder in the global baru nuts market during the forecast period. This can be attributed to the rising usage of baru nuts across food and beverage industry and rapid consumer shift towards healthy food products.
Additionally, consumer's preference for savory snacks in the U. S. is projected to drive demand for flavored and roasted baru nuts. This also provides lucrative growth opportunities to the companies involved in the manufacture of baru nuts.
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Key Takeaways:
By product type, processed baru nuts segment is expected to account for a significant portion of the global market during the forecast period. Based on end use, the food processing and personal care & cosmetics together hold the largest share of the global baru nuts market and the trend is likely to continue during the forecast period. North America is expected to dominate the global market of baru nuts in the coming years. Brazil holds a significant share of the global baru nuts market and is likely to exhibit strong growth during the next ten years. With rising consumption of healthy food products, demand for baru nuts across the U.S. is likely to rise at a prolific pace through 2032.
Growth Drivers:
Increasing demand for superfoods is expected to drive the global baru nuts swiftly during the projected period. Growing demand for healthy snacks for munching among millennials to improve the demand for roasted and flavored baru nuts. Rising usage across food processing industry and increasing efforts to maintain environmental & ecological balance will aid the growth in baru nuts market
Restraints:
Limited production and a lack of awareness are impeding the growth of baru nuts market.
Competitive Landscape:
Key companies in the baru nuts market are innovating to introduce new products in the market. They are also investing in research and development operations and adopting merger & acquisition strategy to gain a competitive edge in the market.
For instance,
In May 2019, Baru nut company Barùkas launched its line of trademarked baru nut products online and into a range of natural retailers in the U.S. In July 2019 , Young Living Essential Oils, the market leader in essential oils, announced the Kalipay Coconut Farm as its newest partner farm in the Philippines
Key Companies Profiled by Fact.MR
Brukas, Inc. Baru Baron Brazil Barn Group Atina Ativis Naturais Ltda. BIOBRAZIL BOTANICALS
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More Valuable Insights on Baru Nuts Market
In the latest study, Fact.MR offers a detailed study on global baru nuts market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of baru nuts through detailed segmentation as follows:
By Product Type:
Whole Baru Nuts Raw Baru Nuts Roasted Baru Nuts Flavored Baru Nuts Processed Baru Nuts Baru Butter Baru Oil Baru Flour Baru Sweets
By End Use:
Food Processing Snacks Nutraceuticals Confectionary Personal Care & Cosmetics Others
By Region:
North America Europe Asia Pacific Latin America Middle East & Africa
Key Questions Covered in the Baru Nuts Market Report
What is the projected value of the baru nuts market in 2022? At what rate will the global baru nuts market grow until 2032? Which are the factors hampering the growth in the baru nuts market? Which region is expected to lead in the global baru nuts market during 2022-2032? Which are the factors driving the baru nuts market during the forecast period? What is the expected market value of the baru nuts market during the forecast period?
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