New York, US, April 06, 2023 (GLOBE NEWSWIRE) -- Macadamia Nuts Market Overview
Market Research Future (MRFR) 's report highlights “Macadamia Nuts Market Information By Type, Application, Category, And Region - Forecast till 2030"; the market will achieve USD 1.9 billion by 2030 at an 11.20% CAGR.
Market Synopsis
The macadamia nut, harvested from macadamia trees, is widely cultivated in Australia, the United States, China, and several regions of Africa. High-income nations, including the United States, China, Japan, Australia, Canada, and France, consume many macadamias. Various goods can be made from, cooked, or eaten with fresh macadamia kernels. Common varieties include wasabi-flavored, chocolate-coated, honey-roasted, and roasted with salt. They are additionally ground into a pulp and cold-pressed to create the oil used in cookies, pies, and ice cream. Oil-roasted macadamia kernels still are extensively used and although dry-roasted macadamia nuts were favored because they only contain endogenous macadamia oil. The B2B segment has grown significantly due to the abundance of macadamia growers and the soaring demand for it in the food, beverage, and cosmetics industries.
Due to the disparities in the demand-supply of commodities caused by the expanding global demand and the supply shortfall, there is an urgent need for investments in the sector and financial support from governmental bodies. Also, it might serve as a market development growth stimulant. Moreover, organic macadamia is becoming increasingly popular among consumers, with rising demand from European nations. The widespread use of processed macadamia in numerous industrial sectors, including the food and beverage, cosmetics, and personal care industries, further boosts the demand for these nuts on the international market.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 1.9 Billion |
| CAGR | 11.20% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Category, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing use of macadamia in industries such as personal care, pharmaceuticals, and cosmetics, and food and beverages |
Market Competitive Landscape
The focal companies in the macadamia nuts market are:
- Kenya Nut Company Ltd (Kenya)
- Golden Macadamias (South Africa)
- MacFarms (U.S.)
- Mauna Loa Macadamia Nuts Corp (US)
- Royal Macadamia (Pty) Ltd (South Africa)
- Nambucca Macnuts Pty Ltd (U.S.)
- Wondaree Macadamias (Australia)
- MWT Foods Australia (Australia)
- Alimentos Selectos S.A. (Guatemala)
- Hamakua Macadamia Nuts Co Inc. (US)
Market U.S.P. Covered:
Market Drivers:
The expansion of the global macadamia market is anticipated to be aided by the increasing use of macadamia in several sectors, including the food and beverage, personal services and cosmetics, and pharmaceutical industries. Demand for organic macadamia is rising, mostly from European nations. The increasing usage of processed macadamia nuts in numerous industrial sectors, including the beverage and food sectors and the beauty and personal care sectors, is also enhancing its market share globally. A surge in the appetite for plant-based snacks will likely lead to a significant expansion in the worldwide macadamia market. Health-conscious customers have been drawn to the diversity of macadamia-based snacks that are readily available, which has helped the macadamia industry flourish in the past.
The need for plant-based proteins is skyrocketing. New functional meals and products with added value are being created in the thriving plant-protein sector to replace animal proteins. The demand for macadamia nuts will increase due to the increase in plant-based proteins, as eating macadamia nuts is the best way to meet one's daily protein and fat requirements without consuming any animal protein. Customers can keep their vegan diets without acquiring a lactose intolerance as a result. The public's growing understanding of the advantages of nuts and dried fruits for health is a significant factor in the industry's expansion. Moreover, macadamia nuts are used to create macadamia oil, which is becoming well-liked by both customers and enterprises. The demand for wholesome snacks has increased dramatically worldwide in recent years, especially among young people and people of working-class backgrounds.
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COVID 19 Analysis
COVID-19 had a little but unfavorable effect on the market. The restriction on macadamia exports and imports due to the closing of international borders to prevent the global spread of the COVID-19 disease hindered market expansion. Due to the growing use of macadamia in the food and beverage, pharmacological, and cosmetic industries, the market is anticipated to expand. Coupled with these elements, the Chinese New Year practice of giving macadamia nuts as gifts will also expand the market. Australia is the third-largest consumer of macadamia nuts, behind China and China. Over 85% of youngsters, the market's main consumers of healthy snacks, place the highest value on freshness and health advantages. Fresh macadamia kernels can be eaten, used in cooking, or processed into various products.
Market Segmentation
By application, the market includes food & beverage and personal care. By type, the market includes whole, halves, whole & half blends, and chips. By category, the market includes organic and conventional.
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Regional Insights
The second-largest share of the market belongs to the North American macadamia nut market. The high acceptance of a healthy lifestyle in this region contributes to increased demand for these nuts in daily diet. A strong social tendency toward health has also aided the fitness industry's establishment in this region. Moreover, the North American macadamia nut market in North America was led by Canada, which saw the greatest growth, and the United States, which had the biggest market share. This rise is attributed to macadamia nuts' advantageous health properties and alluring flavor. The growing use of these nuts in food processing is another factor contributing to the expansion of the European market.
The consumption of macadamia nuts is increasing rapidly in Europe in products like nut and fruit bars, cereal and health bars, and ice cream toppings. Moreover, the biggest macadamia producers worldwide are Australia, Kenya, South Africa, China, and Hawaii in the United States. The macadamia production in South Africa dropped in 2021 due to unfavorable conditions in flowering and the early stages of nut development, established orchards, trimming insects, and diseases. Hence, the market's future growth will be influenced by the increased consumption and rising production of macadamia. Due to the growing use of macadamia in the food and beverage, healthcare, and cosmetic industries, the market is anticipated to expand. Coupled with these elements, the Chinese New Year practice of giving macadamia nuts as gifts will also expand the market. Australia is the third-largest consumer of macadamia nuts, behind China and China.
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