Westford,USA, Feb. 20, 2024 (GLOBE NEWSWIRE) -- Growing demand for plant-based food products is expected to drive significant growth in the global macadamia market. The ready availability of a variety of macadamia-based products in a variety of flavors has attracted health-conscious consumers and contributed to the growth of the macadamia market in recent years. There has been a significant increase in the demand for plant-based protein. According to a Canadian government report, “As total protein demand doubles to 943.5 million metric tons by 2054, the market for alternative proteins, including plant-based proteins, is expected to grow by 14% annually by 2024 — to one-third protein market share.” The burgeoning plant protein industry is now producing new functional substitutes of nutritional value for animal protein.
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● Pages - 157
● Tables – 88
● Figures – 76
Macadamia nuts are a popular food because of their high nutritional value. Walnuts are high in healthy fats, protein and vitamins, making them a healthy snack or added to any meal. In addition, the unique taste of macadamia nuts made it a favorite in many recipes. As a result, the demand for macadamia nuts has increased, leading to higher prices and greater competition among suppliers.
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Prominent Players of Global Macadamia Market
- Mauna Loa Macadamia Nut Corporation
- Hamakua Macadamia Nut Company
- MacFarms LLC
- Royal Macadamia (Pty) Ltd.
- Nambucca Macnuts Pty Ltd
- Kenya Nut Company Ltd.
- Green Farms Nut Company
- Wondaree Macadamias
- Golden Macadamias
- Macadamia Castle
- Marquis Macadamias
- Macadamia Processing Company Ltd
- Ivory Macadamias
- Macadamia SA
- Eastern Produce Kenya Ltd.
- South African Macadamia Growers’ Association
- Wondaree Macadamias (Australia) Pty Ltd
- Buderim Group Limited
- Kenya Nut Company (KNC) Limited
- Macadamia Ternifolia Pty Ltd.
Coated Macadamia Nuts Segment to Dominate Market Owing to High Levels of Pesticide Residues
The coated macadamia nuts segment dominated the market with a share of 80.2% by 2022. Traditional macadamia nuts are more expensive and more widely available than organic or conventionally grown nuts, containing chemicals with high levels of pesticide residues and other chemical additives. It also lasts longer than grown eggs because they are treated with preservatives or other chemicals to prevent spoilage.
Asia-Pacific held the largest market share at 32.4% by 2022 in the global macadamia market. Growing demand for quality of life, increasing macadamia consumption in countries such as China, Japan and South Korea, and demand for natural products which is increased. Growing demand for macadamia in the regional cosmetic industry is driving the market growth.
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Organic Macadamia Nuts Segment to Witness Significant Growth Owing to Increasingly Demand of these Fruits
Organic macadamia nuts are expected to dominate the global macadamia market with a CAGR of 9.9% during the forecast period 2024-2031. Agricultural practices can contribute to the development of soil quality, which can enhance the nutrient content of nutrients. Due to this, consumers are increasingly demanding these fruits.
Europe is the fastest growing segment in the global macadamia market due to factors such as high levels of investment by leading companies, increased government policies, increased awareness of the health benefits of nuts and dried fruits, and macadamia due to high demand in the food and beverage industry.
A comprehensive analysis of the major players in the global macadamia market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
Key Developments of Global Macadamia Market
- In April 2022, Golden Macadamias South Africa, a joint venture, invested in a TOMRA 5C sorter equipped with biometric handprint recognition technology. Its machine is a high-end optical sorting machine for nut and dried fruit applications that helps achieve the highest quality products with large quantities of macadamias produced
- in March 2022, Milkadamia Co. will have $1. launched a new macadamia nut oil milk at Natural Products Expo West. This milk comes in salted caramel and banana pie.
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Key Questions Answered in Global Macadamia Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how do these differences shape the market's future growth?
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