New York, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Recipe Pecan Global Market Report 2023" - https://www.reportlinker.com/p06479954/?utm_source=GNW
, San Saba Pecan LP, South Georgia Pecan Company, Sun City Nut Company Inc., and Whaley Pecan Company Inc.
The recipe pecan market consists of sales of recipes of pecan such as savory dishes, pecan pie, pecan bars, pecan pralines, and other products.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The global recipe pecan market is expected to grow from $1.93 billion in 2022 to $2.08 billion in 2023 at a compound annual growth rate (CAGR) of 7.81%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The market is expected to reach $2.71 billion in 2027 at a CAGR of 6.92%.
Recipe pecan refers to the preparation of a pecan recipe using an oblong edible nut from the fruit of a tall tree that has a thin shell. Recipe pecan consists of calcium, magnesium, and potassium, which help lower blood pressure and help in the maintenance of health.
North America was the largest region in the recipe pecan market in 2022.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in the recipe pecan market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of pecan recipes are in-shelled and shelled pecans.An in-shelled pecan refers to a pecan nut that is inside its hard outer shell, or husk; the outer shell helps to protect the nut from moisture and oxidation.
They are available in online and offline distribution channels and are used for various applications such as direct eating, confectionery, and bakery.
The rising demand for plant-based products is expected to propel the growth of the recipe pecan market going forward.Plant-based products are products made from plant-derived ingredients and they include food items such as plant-based meat alternatives, dairy-free milk and cheese alternatives, and vegan desserts.
Due to the growing awareness among consumers about the use of plant-based products, the demand for plant-based products is increasing.Pecan is a plant-based product and a good source of calcium, magnesium, and potassium, which help lower blood pressure leading to an increase in the market of recipe pecan.
For instance, in 2021, according to the Plant Based Foods Association (PBFA), a US-based trade association representing the nation’s leading plant-based food companies, plant-based retail sales in the US increased 6.2% in 2021 over the previous year, bringing the overall plant-based market value to $7.4 billion. Furthermore, plant-based product purchases in the United States have increased from 61% (77 million in 2020) to 62% (79 million in 2021). Therefore, the increase in the demand for plant-based products is driving the growth of the recipe pecan market.
Product innovations are key trends in gaining popularity in the recipe pecan market.Companies operating in the recipe pecan market are developing and launching new-generation products to sustain their position in the market.
For instance, in September 2021, THIS PKN, a US-based dairy-free brand owned by sustainable foods company Livestock, launched a new generation of plant-based coffee creamers made from pecan milk.THIS PKN has a rich, buttery flavor that is reminiscent of classic delicacies such as pecan pie and pralines.
Each 80-calorie dose contains Omega-3 fatty acids, antioxidants, calcium, zInc., and vitamins A, B, and E. THIS PKN goes well with coffee or espresso, as well as improving basic cereal or turning your morning oats into a delectable delight. This category disruptor is available in two flavors original and 100-calorie chocolate.
In September 2020, Stuckey’s Corporation, a US-based convenience store brand acquired Front Porch Pecans for an undisclosed amount.This acquisition added an abundance of knowledge about pecan markets as well as a new viewpoint on how to present the brand to a younger clientele.
This combination fits nicely with the company’s strategic growth goal, which includes adding healthier nut choices and adapting to changing consumer tastes. Front Porch Pecans is a US-based operator of a pecan farm that produces pecan food products in various flavors such as BBQ, maple, sea salt, and others.
The countries covered in the recipe pecan market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The recipe pecan market research report is one of a series of new reports that provides recipe pecan market statistics, including recipe pecan industry global market size, regional shares, competitors with a recipe pecan market share, detailed recipe pecan market segments, market trends, and opportunities, and any further data you may need to thrive in the recipe pecan industry. This recipe pecan market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06479954/?utm_source=GNW
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