The global macadamia nuts market, as discussed in detail by Market Research Future (MRFR), is slated to project impressive growth during the forecast period of 2018 to 2023. The nut is getting traction for its rich buttery texture, various health benefits including a boost to the cardiac health, and growing investment in the research and development sector. This last factor is helping companies to come up with new products, which is simplifying the process of market percolation for the global market. Macadamia nut products are also getting marketed as a superfood for its high nutritional value.
Macadamia Nuts Market Research was valued at USD 0.8 billion in 2021. The macadamia nuts market industry is projected to grow from USD 0.9 billion in 2022 to USD 1.9 by 2030, exhibiting a compound annual growth rate (CAGR) of 11.20% during the forecast period (2022 - 2030).
Segmentation:
MRFR’s detailed take on the global macadamia nuts reveals a segmentation that includes type, category, and application. This segmentation is detailed in terms of figures and factors that are influencing the market. Insights from the study would help the market players in coming up with better strategic plans.
By type, the report on the global macadamia nuts market can be segmented into whole and half blends, chips, whole, halves, and others.
By category, the study on the global macadamia nuts market comprises organic and conventional. The organic segment is getting tailwinds due to the growing inclination towards sustainable production methods.
By application, the discussion containing particulars of the market can be segmented into personal care, food & beverage, and others. The food & beverage segment includes dairy and frozen desserts, bakery and confectionery, culinary, and others. The dairy & frozen dessert segment is expected to maintain strong growth in the coming years.
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Regional Analysis:
The Asia Pacific market is expected to boost the global growth of the macadamia market by collecting revenues from the production and consumption of macadamia. Australia is one major nation where the nuts are produced in substantial quantities. The nut is finding high consumption in food & beverage products and the personal care sector. China and India are countries where the number of potential buyers is rising, which would ensure easy expansion for the market.
North America is slated to develop the fastest CAGR during the forecast period. In the region, the US and Canada would display a strong intake capacity using which the players can ensure better intake capacity.
Competitive Landscape:
The global macadamia nuts market is witnessing a strong rise in several sections as it is benefiting from the strategic implementations of companies like Royal Macadamia (Pty) Ltd (South Africa), Alimentos Selectos S.A. (Guatemala), Hamakua Macadamia Nut Co Inc. (US), Kenya Nut Company Ltd (Kenya), Golden Macadamias (South Africa), MacFarms (US), Mauna Loa Macadamia Nut Corp (US), MWT Foods Australia (Australia), Nambucca Macnuts Pty Ltd (US), and Wondaree Macadamias (Australia). These companies are investing much in research and development projects to come up with new products and get a beginner’s advantage. Also, these companies are known for their extensive contribution to the market in terms of mergers, acquisitions, and other joint ventures. Proper branding and marketing strategies would help these companies in devising better expansion plans.
The Macadamia Nuts Market overview is experiencing robust growth driven by increasing consumer demand for healthy snacks and gourmet culinary ingredients. These creamy, buttery nuts are renowned for their rich flavor and nutritional benefits, making them a sought-after choice among health-conscious individuals and chefs alike. Global demand continues to rise, with key players in regions like Australia, Hawaii, and South Africa contributing significantly to the market's supply. The Macadamia Nuts Market is marked by innovation, with new product forms and applications continually emerging to cater to diverse consumer preferences, from whole nuts to nut butters and oils. As consumers prioritize wellness and plant-based diets, the market outlook for macadamia nuts remains promising.
Industry News:
Various companies are launching their special macadamia nuts products. This is also creating scope for cross production and further expansion. Mana Botanics’ CBD products are a good example of such products. These products are made to promote well-being. The luxurious oil they have launched is made from macadamia nuts oil and a blend of Hawaiian turmeric, coconut, and vanilla. This product aims to provide a relaxing experience. Both mind and body are expected to be enriched by a soothing experience.
Key Players are:
Kenya Nut Company Ltd (Kenya), MacFarms (U.S.), MWT Foods Australia (Australia), Alimentos Selectos S.A. (Guatemala), Mauna Loa Macadamia Nuts Corp (U.S.), Royal Macadamia (Pty) Ltd (South Africa), Nambucca Macnuts Pty Ltd (U.S.), Wondaree Macadamias (Australia), Hamakua Macadamia Nuts Co Inc. (U.S.) and Golden Macadamias (South Africa).
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