Macadamia Market Is Estimated To Be US$ 4.3 Billion By 2032 With A CAGR Of 9.9% during The Forecasted Period-By PMI
Prophecy Market Insights latest research report on the Macadamia Market provides a comprehensive analysis of the current market scenario, growth opportunities, challenges, and emerging trends. The report offers insights into the market’s size and share, key market players, distribution channels, and consumer preferences. It also examines the impact of the COVID-19 pandemic on the market and provides a detailed analysis of the competitive landscape, including strategic alliances, mergers, and acquisitions.
Covina, Sept. 11, 2023 (GLOBE NEWSWIRE) — Macadamia is a genus of evergreen trees and shrubs that are native to Australia but are now cultivated in various parts of the world. These trees are primarily known for their highly prized and delicious nuts, called macadamia nuts. Macadamia trees are native to the rainforests of eastern Australia, particularly in the coastal regions of New South Wales and Queensland.
Consumers worldwide have been increasingly looking for healthier snack options, and macadamia nuts, known for their nutritional value and appealing taste, were well-positioned to meet this demand. Macadamia cultivation has expanded beyond its traditional regions (Australia and Hawaii) to include countries in Africa, Asia, and Central and South America. This expansion of production was expected to increase the availability of macadamia nuts in the global market.
Macadamia Market accounted for US$ 1.58 billion in 2022 and is estimated to be US$ 4.3billion by 2032 and is anticipated to register a CAGR of 9.9%. Macadamia Market is segmented based on Product Type, End User and Region.
The prominent player operating in the Macadamia market includes:
Golden Macadamias, Hamakua Macadamia Nut Company, Kenya Nut Company Ltd., Royal Macadamia (Pty) Ltd., Nambucca Macnuts Pty Ltd., MWT Foods Australia, Wondaree Macadamias, Mauna Loa Macadamia Nut Corp., and MacFarms.
Key highlights –
- In February 2023, PlantBaby launched organic macadamia milk. The organic, clean-label milk alternative is made using whole food ingredients, including macadamia nuts, cashews, Brazil nuts, sprouted pumpkin seeds, oats, coconut sugar, coconuts and marine minerals. According to PlantBaby, Mac Nut Kiki Milk is free of seed oils, gums, processed sugars, and common allergens including soy and gluten. It also has no carbon emissions.
- In July 2023, Australian Macadamia Society launched new promotional effort harnessing a fresh menu of recipes created by MasterChef alumni Mindy Woods. In an apparent dig at fast food giant McDonald’s, the Australian Macadamia Society’s marketing campaign has claimed the endearing moniker “Macas”. The ‘Original Macas’ campaign from the leading trade group aims to promote the nut by demonstrating to consumers how it can be included into meals while also drawing attention to the fact that macadamias are indigenous to Australia.
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The market report has been segmented based on nature, product type, form, and region.
- By nature, the target market is segmented into organic and conventional
- By product type, the global market is classified into In-shell and kernel
- By form, the target market is bifurcated into raw, conventional, and oil
- By end-user, the target market is segmented into household and industrial
- By region, Asia Pacific appeared as a primary region for macadamia nuts demand and it estimated for over 26% share of total revenue. The growth is mainly attributed due to rising health awareness and increasing consumption of dried nuts and fruits through diet in countries such as China, Japan, and India. Further, high disposable income along with increasing population expected to propel the demand for macadamia market in the Asia Pacific.
Here are some important facts about the macadamia market:
Rising Popularity: Macadamia nuts have gained significant popularity in recent years due to their health benefits and versatility in various culinary applications.
Global Expansion: The macadamia market has seen remarkable global expansion, with production and consumption increasing across North America, Europe, Asia, and Australia.
Health Benefits: Macadamia nuts are rich in healthy monounsaturated fats, vitamins, and minerals, making them a popular choice among health-conscious consumers.
Sustainable Farming: Sustainable farming practices in macadamia production have become a key focus, with many growers adopting eco-friendly and socially responsible methods.
Exports: Macadamia exports have surged, with major producing countries like Australia and South Africa exporting a significant portion of their production to international markets.
Product Diversification: The market has seen an increase in product diversification, including macadamia-based oils, butters, and snacks, catering to different consumer preferences.
Demand in Confectionery: Macadamia nuts are increasingly used in the confectionery industry, with chocolate-covered macadamia nuts and macadamia nut brittle gaining popularity.
Premium Market Segment: Macadamia nuts are often considered a premium product, commanding higher prices compared to other nuts, which has contributed to the market’s value.
Sustainability Certifications: Many macadamia producers are obtaining sustainability certifications, meeting the demands of eco-conscious consumers and responsible sourcing initiatives.
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Analyst View –
The market for processed macadamia products, such as macadamia nut oils, butters, and snacks, was expected to grow as consumers sought diverse ways to incorporate macadamia nuts into their diets. To meet the growing demand, there has been an increasing adoption of modern agricultural practices, including improved irrigation systems and disease management, to enhance macadamia yields and quality.
What is the current market size for macadamia nuts?
The market size for macadamia Market can vary from year to year due to factors like weather conditions and demand. As Per Our market research Report the Macadamia Market would be US$ 4.3billion by 2032 With CAGR Of 9.9%.
Are macadamia nuts healthy?
Macadamia nuts are nutrient-dense and a good source of healthy fats, fiber, vitamins, and minerals. They are known for their heart-healthy monounsaturated fats. However, they are calorie-dense, so portion control is important.
What factors influence the price of macadamia nuts?
The price of macadamia nuts can be influenced by various factors, including weather conditions affecting the harvest, demand from the food industry, export/import regulations, and currency exchange rates. Supply and demand dynamics also play a significant role.
What are some emerging trends in the macadamia nut market?
Some emerging trends in the macadamia nut market included the growing popularity of macadamia-based dairy alternatives, increased demand for healthy snacks, and the expansion of macadamia production into new regions.
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