Baru Nuts - the Lesser-known Superfood Ingredient
Baru nuts market is anticipated to grow exponentially and register a volume CAGR of ~25% through 2029. Baru nuts market continues to be a niche industry that awaits the dawn of prominence, specifically as an increased number of consumers shift their focus towards healthy eating, in line with the growing health and wellness trend.
Though not many consumers and food processing companies are aware of baru nuts yet, the popularity of this emerging super food that is better than counterparts is likely to turn the table around in the years to come. This can be envisioned for the fact that baru nuts are a healthier form of peanuts, contain more nutrients per calories as compared to most nuts, and a better environmental option than almonds.
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Limited Production & Lack of Awareness Continue to Limit Penetration
The production of baru nuts is only limited to Cerrado, a vast tropical savanna ecoregion of Brazil, and are harvested just once a year, which has been arresting the prominence and thereby, adoption of these highly nutritional nuts for several years.
However, the shifting consumer focus towards health and wellness trend and an increased focus of food processing companies towards leveraging rich-in nutrition ingredients are likely to change the dynamics of baru nuts market in the coming years
Though the current market for baru nuts is extremely small and managed to account for US$ 2.1 Mn in 2018, the future holds high stakes of growth for it, with these nuts increasingly penetrating developed countries.
The trade flow of baru nuts has been restricted to a few countries so far, with ~60 of the baru nuts getting exported from Brazil.
In view of the potential growth in the lucrativeness of highly nutritional nuts in the forthcoming years, the market stakeholders in Brazil are increasingly exporting produce to countries that hold high consumption potential.
For instance, of its total baru nuts production, Brazil exports ~25% produce to Europe and ~22% produce to United States. The trade pace of the market continues to remain complex, with several market players that operate in multiple regions, including Brazil, collecting raw baru nuts from the country to later export the processed and flavored versions of these nuts from overseas facilities.
Brazil, for instance, imports ~ 2% flavored baru nuts from Canada. Amid the growing import-export race, the market of baru nuts is anticipated to emerge as a victor, only if the product awareness among masses takes a leap of growth.
How Market Frontrunners Are Coping?
The market for baru nuts is highly consolidated with top five companies, including Brukas, Inc., Baru Baron, Brazil Barn Group, Atina Ativos Naturais Ltda., and BIOBRAZIL BOTANICALS, collectively accounting for ~80% market share.
As the market continues to witness restricted growth due to lack of awareness and limited production, several market players are increasingly getting associated with organizations to create consumer awareness regarding baru nuts.
As per pertinent literature, the amount of baru nuts harvests continue to pick pace every passing year, as multiple companies are working to increase the number of involved families for harvest, with sustaining efforts considerably prevalent in Cerrado region.
Furthermore, while baru nuts market holds potential for significant growth in the upcoming years, leading players don’t want to risk sales due to very less product awareness even in the developed regions such as North America and Europe.
The Fact.MR analysis estimates Latin America to represent highest market value share in baru nuts market by 2019 end, while Europe and North America have been envisaged to lead the baru nuts market throughout the foreseeable period.
As the market holds high stakes of witnessing establishment in developed regions in the forthcoming years, leading baru nuts producers have also placed their focus on capacity expansion to cater to the potential increase in the demand.
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Consumer Trends Stimulating Demand for Superfoods
The rich nutritional profile of roasted baru nuts continues to enable them to rank as a superfood that have been witnessing substantial adoption across industries. Growing popularity of ‘super’ products is evident as the food and beverage manufacturers globally are tapping into a considerable surge in the demand for nutritionally dense ingredients.
As a matter of fact, superfoods aren’t limited to food products anymore and are increasingly springing up in the personal care & cosmetics aisles as a result of consumers becoming much more aware of what they are putting into and onto their bodies.
Such consumer trends are projected to lead to super growth of nutrition-rich nuts and ingredients, such as baru nuts in savory snacks, nutraceutical, and confectionary products in rapidly growing food processing industry.
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Health Benefits Associated with Baru Nuts Unlocking Opportunities for Companies
While the demand for healthy nuts is picking pace, the traction for baru nuts is highly likely to increase considerably, which in turn will also create a need for increasing the product supply.
As the nutritional profile and fiber content of baru nuts overshadow the dietary and nutritional value of other nuts, an increased awareness about this powerhouse of health is anticipated to fuel market growth significantly.
This continues to solidify the projection that baru nuts will gain recognition as an important part of the human diet, with diverse and significant impacts beyond nutrition in coming years.
While growing research continues to indicate that baru nut-based diet can increase the rate of metabolism of consumers, burn fat and reduce cholesterol, the lucrativeness of this superfood is envisaged to grow. Moreover, as growing researches continue to link baru nuts consumption with considerable reduction in waist size, cholesterol and other unhealthy fats and an increase in healthy fat, they are highly likely to witness substantial traction in the years to come.
How Does Eco Aspect of Baru Nuts Matter to Stakeholders?
The baru nuts market, which is currently at a nascent stage is highly likely to witness a turmoil of optimistic changes in view of the growing focus of the market players on strategic development of the industry.
Market frontrunners, primarily the companies operating in Brazil, which is the sole producer of baru nuts, continue to create awareness among locals about the value of this regional produce to prevent cutting down of species of plants including baru trees.
This is aimed at ensuring that collectors don’t cut the left plenty of fruits of baru trees for the nature to help grow trees, which will further maintain ecological and environmental balance. Such growing efforts on the part of market players and regional collectors hold the future of baru nuts production.
Analysis and assessment of price point by region and comparison with the global average price have been included in this study. The study also exerts details on aspects impacting pricing strategies of the processors and suppliers of baru nuts. Segmentation of baru nuts market has been provided in the form of a taxonomy table in the report.
Based on product type, baru nuts market is segmented into:
- Whole Baru Nuts
- Raw Baru Nuts
- Roasted Baru Nuts
- Flavored Baru Nuts
- Processed Baru Nuts
- Baru Butter
- Baru Oil
- Baru Flour
- Baru Sweets
Based on end use, baru nuts market is segmented into:
- Food Processing
- Personal Care & Cosmetics
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