Portland, Aug. 22, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Shelled Pistachio Market by Type (Regular and Roasted), Flavor (Plain and Salted), and Sales Channels (Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Online Retails, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032.” According to the report, the global shelled pistachio industry generated $1.6 billion in 2022 and is anticipated to generate $3.3 billion by 2032, witnessing a CAGR of 7.3% from 2023 to 2032.
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Pistachios are a type of nut whose outer shell has been removed. This is known as a “kernel” by farmers and traders. The kernels can be yellow or green in color. They are about 1 inch long and 1-half inch in diameter. To sample pistachios, the hard shell must be opened. These pistachios can be in a shell or unshelled and can get them in roasted or salted form. Pistachios can be bought from most grocery stores or can directly buy in bulk from growers.
Prime Determinants of Growth:
The global shelled pistachio market is experiencing growth due to several factors, including the rise in the popularity of ready-to-eat products, and an increase in awareness about the health benefits offered by shelled pistachios. The food & beverage manufacturers are focusing on launching new and innovative ready-to-eat food products to cater to the increasing demand for healthy on-the-go food products in the market. However, the adverse side effects of shelled pistachios due to excessive intake are expected to hamper the growth of the shelled pistachio market. Moreover, the increase in the geriatric population, and the rise in sales through online sales channels are creating a prolific opportunity for market growth.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $1.6 Billion |
| Market Size in 2032 | $3.3 Billion |
| CAGR | 7.3% |
| No. of Pages in Report | 210 |
| Segments covered | Type, Nature, Sales Channel, and Region |
| Drivers | Rise in the popularity of ready-to-eat products Rise in awareness about health benefits offered by shelled pistachios |
| Opportunities | Increase in the geriatric population Rise in sales through online sales channel |
| Restraints | Adverse side effects |
The processed segment to maintain its leadership status throughout the forecast period-
Based on type, the processed segment dominated the market in 2022 accounting for around three-fifths of the global shelled pistachio market share, and is expected to maintain its leadership status throughout the forecast period. An increase in awareness regarding the various benefits of processed shelled pistachios as compared to their raw type has resulted in an upsurge in the demand for shelled pistachios over the last few years. This is due to the growing popularity of processed-shelled pistachios as an alternative to various snacks such as popcorn and pean nuts. The raw segment is projected to manifest the highest CAGR of 8.0% from 2023 to 2032, owing to the evolving consumer preferences towards natural and organic food products.
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The conventional segment to maintain its lead position during the forecast period-
Based on nature, the conventional segment dominated the market in 2022 accounting for more than two-thirds of the global shelled pistachio market revenue, and is expected to maintain its lead position during the forecast period. This is due to the easy availability and higher market penetration. However, the organic segment is expected to register the fastest CAGR of 8.5% during the forecast period. This is due to the fact that it aligns with the growing demand for organic and healthier snacking options.
The supermarkets/hypermarkets segment to rule the roost by 2032-
Based on distribution channel, the supermarkets/hypermarkets segment dominated the market in 2022 accounting for around one-third of the global shelled pistachio market revenue and is projected to rule the roost by 2032. This is due to the availability of a broad range of consumer goods and food & beverages under one roof, as well as adequate parking space and convenient operation timings. However, the online retails segment would display the fastest CAGR of 8.8% during the forecast period. Owing to the emergence of e-retailers in the food industry.
Europe to maintain its dominance by 2032-
Based on region, Europe held the highest market share in terms of revenue in 2022, contributing to more than one-third of the global shelled pistachio market revenue, and is likely to dominate the market during the forecast period. Europe has a developed retail structure that allows consumers to conveniently purchase food and groceries. This easy availability helps with the overall sale of convenient goods such as shelled pistachios in the market. However, the Asia-Pacific region would portray the fastest CAGR of 8.1% during the forecast period. Due to an increase in the popularity of healthy convenience foods and a rise in concerns about health and fitness among consumers in the region.
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Leading Market Players: -
- The Wonderful Company LLC.
- Fiddyment Farms, Inc.
- Bella Viva Orchards
- Braga Organic Farms
- Aydin Kuruyemis Industry and Trade Inc.
- RM Curtis and Co Ltd.
- Olam Group
- Primex Farms, LLC
- Horizon Nut Company, LLC
- Nichols Farms
The report provides a detailed analysis of these key players in the global shelled pistachio market. These players have adopted different strategies such as acquisition, partnerships, and new product launches to increase their market share and maintain dominant shares in the market. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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