Walnut Market:
Growth opportunities in the walnut market look promising over the next six years. This is mainly due to the rising disposable income of the consumers, increasing demand for convenience food products, and the growing consumer awareness related to the benefits offered by walnuts, such as rich in antioxidants.
Walnut Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The expanding disposable income of the consumers and the surging consumption of walnuts by consumers are some of the drivers contributing to the growth of the global walnut market. Individuals these days are switching towards the consumption of healthy food items to sustain their overall health. This has persuaded them to choose food items with nut ingredients such as walnut, cashew, and almonds. Also, the increasing consciousness towards the several health benefits offered by them are reduced inflammation, promotes a healthy gut, rich in antioxidants, and a source of omega-3s. Many studies exhibited that their consumption would reduce the risk of breast, prostate, and colorectal cancers. Moreover, the boost in demand for convenience food products will strengthen the market size. As per FAOASTAT, the total production of in-shell walnuts in China totaled 2.52 million metric tons for 2019. Thus, the escalating of in-shell walnuts will indirectly propel the market demand.
Nature Segment Drivers:
Based on nature, the organic segment is projected to witness a higher CAGR during the forecast period. The growing awareness in consumers regarding the benefits offered by these walnuts, such as better heart health, management of weight, enhancement of bone health, is a crucial factor contributing to the market growth. In addition to this, the remarkable change in consumer’s preference towards organic food products will bolster the market growth.
Regional Drivers
Based on the regional coverage, Asia-pacific is predicted to lead the market during the forecast period owing to their intensifying consumption, and the growing health-consciousness among the consumers is stimulating the market growth. Additionally, the continuous development in the processed food industry in many Asian countries supplements market growth. According to the IBEF, India’s food processing sector presented 32% in the country’s total food market and is regarded as one of the topmost industries.
Walnut Market’s leading Manufacturers:
- Morada Produce Company L.P.
- Kashmir Walnut Group
- Walnuts Australia
- Poindexter Nut Company
- Alpine Pacific Nut
- Mariani Nut Company Inc.
- California Walnuts
- Andersen Shelling Inc.
- Grower Direct Nut Company, Inc.
- GoldRiver
Walnut Market Segmentation:
Segmentation by Nature:
- Organic
- Conventional
Segmentation by Type:
- In Shell
- Shelled
Segmentation by End-Use:
- Household
- Industrial
- Personal Care & Cosmetics
- Pharmaceuticals
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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