The food and beverages industry has seen thriving on opportunities in the COVID-19 pandemic. Acorn nuts have seen a similar rise in global demand. Acorn nuts have diverse uses as baked and confectionery, flavored drinks, and breakfast cereals, among others. The product is expected to witness a rise in demand from various end-use sectors in the forecasting period. Acorn Nuts are rich in nutrients. Percentages vary from species to species, but all acorns contain large amounts of proteins, carbohydrates and fats, as well as the minerals calcium, potassium, phosphorous, and vitamins. Compared to other nuts, Acorn nuts fare better in energy enrichment.
The Acorn Nuts also called Oaknuts are obtained from the Oak tree. It usually contains one or occasionally two seeds, enclosed in a tough, leathery shell. Acorns take between 6 and 24 months (time varying between the species) to mature. The tannins present in Acorn nuts make them bitter in taste. These acorn nuts are processed through leaching process before consumption across the globe. These corns are eaten raw, roasted, and boiled. Acorns are used diversely to make soup, oil, flour, massage oil, mush, coffee and quick snacks. There are hundreds of variety of different oak species available in the world and there productivity and nutritional contents varies according to species and the local environment.
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COVID-19 Impact analysis
• Food Industry is one of the few global industries that haven’t seen a negative economic impact due to the COVID-19 pandemic. Healthy eating trends and diets have skyrocketed the demand for tree nuts including Acorn.
• Coronavirus Food Assistance Program has also helped the farmers in maintain and farming acorn nuts.
• However, COVID-19 presented an even greater challenge to the already struggling industry.
• As the world’s largest producer and shipper of Acorn nuts, more than half of the United States’ yield is typically exported, and it relies on international trade.
• Not only did the pandemic slow down world trade due to bottlenecks at global ports, but the ongoing trade war between the U.S. and China, is also fueling complications.
• Whereas China was once one of the leading consumers for nuts, the country has begun growing its own crops in a move toward self-sufficiency. So it certainly didn’t help when Beijing placed tariffs of up to 75% on the U.S. shipments.
• The coronavirus outbreak also coincided with Chinese New Year, in which various nuts are commonly given as gifts. The lack of demand, as celebrations screeched to a halt, resulted in a significant drop in nuts (including Acorn) exports.
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Top Impacting Factors
• People adapting healthy lifestyles and mindset.
• Increasing popularity in advanced areas of natural nutritional supplements.
• Ease of purchase through online distribution channels.
• Convenient for storage.
• Gathering acorns is relatively easy.
• The dried acorns have prolonged life.
• Increase in awareness about the health benefits of Acorn Nuts.
• Acorn Nuts are an ecologically friendly food item.
• They’re gluten free.
• Unlike other sources for nuts and grains the oaks are not dependent on the massive supply of water, pesticides, and fertilizers and do not require any special farming efforts.
• Increase in awareness about the health benefits of Acorn Nuts has led to rise in the global demand for the acorn nuts market.
• Acorn are considered as a rich source of complex carbohydrates.
• Acorn nuts are lower in fats and are a rich source nutrients and fibers as compared to other nuts.
• Tree crops can take several years to grow and mature. From 2007 to 2019, the tree-nut varieties bearing fruit grew from 1 million to more than 2 million acres— meaning many of these crops that were planted to increase supply are now producing nuts.
• The availability of other similar substituents such as hazelnuts and chestnuts, is expected to hamper the growth of acorns market during the forecast period.
• Consuming acorn nuts can be toxic especially if consumed in excess.
• Acorn Nuts are natural for wildlife species. Pets and Livestock have weak toxic tolerance compared to them. Consequently, depending on the species, acorn nuts can be highly toxic to them.
• After sprouting, they are less nutritious, as the seed tissue becomes indigestible.
Market Trends:
Due to Earth’s growing population, the need for another nutritive and ecologically friendly food source is increasing at a rampant pace. Acorn Nuts are one of the best solution for this need. The Acorn nuts have already seen a surge in demand as a sustainable alternative food source. The demand for gluten free products in the Western and other countries has never been this much higher. The Acorn nuts fulfill all the criteria for modern food and thus it is on the verge of dietary comeback. For centuries, Acorn nuts have been a major part of diet for various species of wildlife. The demand for Acorn nuts as an important food source for some domestic livestock is increasing which in turn driving the market for them. Factors such as: adaption of a healthier lifestyle and health consciousness among consumers coupled with increased inclination toward plant-based food products as an ingredient by various food industries such as bakery & confectionery, dairy, flavored drinks, smoothies, coffees, snacks and others, is fueling the acorn nuts market growth globally. The increasing demand for a nutritive and ecologically safe food source forces the manufacturing brands to implement a sustainable alternative food source. This rapidly rising demand for nutritious and convenient snacks with rise in disposable incomes of customers is providing a further boost to the industry. However, similar products like hazelnuts and chestnuts that can utilized as a substitute to Acorn nuts could restrict the industry growth during the forecast period.
Key Benefits of the Report:
• This study presents the analytical depiction of the acorn nuts industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the acorn nuts market share.
• The current market is quantitatively analyzed from 2020 to 2028 to highlight the acorn nuts market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed acorn nuts market analysis based on competitive intensity and how the competition will take shape in coming years.
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