North American cashew nuts market is estimated to grow at a CAGR of 4.5% during the forecast period. The expansion of online distribution channels is expected to offer an opportunity for market growth. An increase in online channels has been witnessed in the region, which is supporting to increase the reliability and speed of online delivery services. As a result, the consumers have been increasingly shifting towards online platforms owing to the faster delivery services and available discounts and offers. Nuts providers are harnessing the opportunity and launching new online channels to increase their sales. For instance, in September 2017, L’Orenta, a provider of high-quality nuts and other confectionary items, declared the introduction of its new website, which sells different types of premium quality nuts.
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The website named outfit that sells dried fruits, gourmet nuts, chocolate & yogurt covered goodies, (corporate) gifts, nut mixes, hand-made truffles, and more. It features an online shop comprising several collections from L’Orenta. The Premium Nuts and Dried Fruits collection includes multiple categories of nuts comprising office snacks, almonds, cashews, and pecans, available for as low as $7. The Premium Mixes and Blends category involves exciting mixes produced from high-quality mixed nuts. The company also offers a gifts package and an Indulgence club that supports gourmet, chocolate, and nuts lovers to buy their favorite snacks.
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COVID-19 pandemic is also a major factor that has accelerated market growth. Due to the COVID-19 pandemic, some key snack providers have expanded their online presence to generate potential revenue from the online channel. For instance, in May 2020, PepsiCo, Inc. launched two direct-to-consumer websites, including Snacks.com and PantryShop.com. These websites allow shoppers to order a range of food and beverage brands from PepsiCo. With the increasing consumers’ inclination towards online platforms for their food and beverage requirements during the COVID-19 pandemic, these websites will offer shoppers easy and fast access to PepsiCo’s products.
Scope of the North American Cashew Nuts Market
Market Coverage
- Market number available for 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Form and Distribution Channel
- Countries Covered- US and Canada
- Competitive Landscape- PepsiCo, Inc., Blue Diamond Growers, and the Kraft Heinz Co.
Key questions addressed by the Report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Recovery Timeline
- Deviation from the pre-COVID-19 forecast
- Most affected segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
