A new business intelligence report of Fact.MR indicates that ~15 thousand kg of baru nuts were sold in 2018, and the sales are likely to spike by a whopping ~24%, yearly, in 2019. The global baru nuts market is anticipating exponential growth in foreseeable future, owing to the growing awareness about this superfood in foreign markets.
Rapidly changing consumer sentiments in favor of the health and wellness trend, and widening application base in food processing industry will also remain significant impact factors associated with the baru nut sales. Growing adoption of baru nut as an ingredient in snacks, nutraceuticals, and confectionary products collectively accounted for sales of ~135 thousand kg baru nuts in 2018, says the report.
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With elevated levels of vitamin E, fiber, protein, and calcium, coupled with the potential to develop wide range of food products, baru nuts continue to remain an anomaly in its native Brazil and for rapidly growing Western pool of customers. However, the canvas of baru nuts applications is anticipated to further widen, with several importers in the U.S. and Europe placing their focus on the high-protein legume nuts to capitalize the growing super food trend. While baru nuts remain comparatively unknown outside native Brazil, there are several finished packaged food products, such as Natuaris Muniz’s bread spread Barutella and various cooking oils, garnering growing traction of consumers.
Health Benefits of Baru Nuts - The Growth Engine
The study opines that growing focus of market players on creating an increased awareness about the health benefits of baru nuts is likely to fuel the sales of this superfood in the forthcoming years. Baru nuts are enriched in multiple minerals, such as potassium, magnesium, zinc, iron and phosphorous, and contain high amounts of protein and omega-3, 6, 9. Moreover, as baru nuts calorific content is optimal and is shown to boost satiety, they hold high potential of finding extensive applications in dietary products. Additionally, the nutritional composition and source of the baru nuts suffice the requisites of highly restrictive diets, such as keto and paleo diet, and can even find a place as an ingredient in gluten-free diets.
As per the study, while an increased number of companies have shifted their focus on creating awareness and collaborating with foodprenuers and food processing companies, the super nut is highly likely to get a wider place on the global shelves through 2029.
Though the market for baru nuts has been reaping higher gains via extensive applications in food processing industry, which accounted for ~90% of the overall sales, their lucrativeness in cosmetic and personal care industry is anticipated to grow through 2029. This falls in line with the numerous benefits of baru oil in helping revitalize the skin and hair. Furthermore, multiple cosmetic companies have been procuring baru oil for experimentation, owing to its herbal and organic aspect, which can help firms tap a growing pool of label-conscious customers.
‘Whole’ Baru Nuts - Stimulating Gains in Developed Regions
The Fact.MR study indicates that though Latin America is envisaged to lead the baru nuts market in 2019, developed regions, such as Europe and North America will underpin higher gains during the forecast period. This falls in line with the growing demand for whole baru nuts that accounted for 130,606 kg of the overall market sales in 2018, while holding ~80% market volume share. The rapidly growing nut-based product innovations in developed countries, such as United States and Canada has been creating a considerable demand for baru-based products.
Moreover, the shifting savory snacking habits of consumers in the U.S. continue to surge the demand for roasted and flavored baru nuts, while propelling market players to find ways to expand supply through increased nut imports from Brazil.
This Fact.MR study offers the long-term outlook of the baru nuts market for 2019 to 2029. The baru nuts market is anticipated to grow exponentially and register a volume CAGR of ~25% through 2029.