Macadamia Nut Market: North America Held The Second-Largest Share
Macadamia Nut Industry Overview
The global macadamia nut market size is expected to reach USD 2.95 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.7% from 2021 to 2028. With the growing importance of healthy eating, the market is growing at a faster rate, and consumers are increasingly adopting nuts as a healthy snack option and incorporating them into their daily meals. Furthermore, organic macadamia is becoming more popular with the increased demand primarily coming from European countries.
Macadamia nuts are an Australian native nut. These nuts are the fruits of the macadamia tree, which can be found in eastern Australia. These lustrous nuts have a leathery outer shell and are around 1 inch in diameter. Macadamia nuts are mostly farmed in Australia, but they are also grown commercially in Hawaii and, to a lesser extent, Florida and California.
While macadamia nuts are native to Australia and are farmed there, commercial production is concentrated in Hawaii. Macadamia trees can be found in California and Florida for the continental United States, and in several nations in Latin America, Africa, and Asia. The highest quality macadamia kernels are not only free of defects or insect and fungal damage but also contain at least 72 percent oil. The kernels with less than 72 percent oil are usually immature and harder and become over-brown when roasted.
While the product is often utilized as an ingredient in Australia, the United States, and Japan, macadamia nuts are still mostly eaten as a snack in Europe (usually roasted and salted). However, as the global supply grows, so does interest in many European businesses, with macadamia nuts increasingly being utilized in the manufacturing of butter, chocolate coating, and as a confectionery ingredient.
Macadamia Nut Market Segmentation
Grand View Research has segmented the global macadamia nut market on the basis of processing, product, distribution channel, and region:
Based on the Processing Insights, the market is segmented into Conventional, and Organic.
- The shifting consumer preference toward healthier snacking options has been boosting the demand for conventional macadamia nuts over the world. Other than snacks, nuts have gained significant utilization in food items, such as spreads, butter, and ice cream toppings.
- The conventional segment led the market and accounted for a share of 80.4% in 2020. These macadamia nuts are budget-friendly for consumers and also much more readily available in comparison to their organic counterparts. Most small-scale domestic players produce conventional macadamia nuts and their dominance can be seen on the shelves of supermarkets and hypermarkets.
Based on the Product Insights, the market is segmented into Raw, Roasted, and Coated.
- The health benefits of macadamia nuts are propelling their widespread adoption. Because of their high-fat content, macadamias have become increasingly popular. Macadamia nuts have the highest fat content of any nut, at 20.9 grams per pound, which is why they were once thought to be unhealthy.
- Macadamia nuts are a popular delicacy and a trendy import in countries, like China and the United States, and are considered a high-quality dessert nut because of their rich, buttery flavor. And with countries like China planting macadamia trees, the global macadamia supply is likely to grow. By 2022, China is expected to produce half of the world's macadamia harvest.
Based on the Distribution Channel Insights, the market is segmented into Online, and Offline.
- The offline sector is booming, thanks to supermarkets' home delivery and click-and-collect services, which are luring customers to this channel. In addition, the number of convenience stores in strategic places has increased to better serve busy consumers looking for a quick bite to eat.
- The online sector is expected to expand at the fastest growth rate of 11.6% from 2021 to 2028. Walmart, Kroger, Amazon, Alibaba Group, Instacart, FreshDirect, ShopFoodEx, Tesco, Sainsbury's, and Asda Stores Limited are just a few of the major e-commerce portals that sell macadamia nuts.
Macadamia Nut Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
To achieve a competitive advantage, companies have implemented numerous growth tactics such as mergers and acquisitions, capacity expansions, online presence strengthening, and new product releases. For example, Health and Plant Protein Group Limited announced ambitions to enter the fast-growing plant-based food alternatives industry in February 2021. The company is solely focused on the production and sale of macadamia nuts and the plant-based food market as a whole in order to make a more informed investment in macadamia nuts.
The market for macadamia nuts has benefited from advances and innovative strategies. Several product debuts in recent years have broadened the industry's consumer base while also increasing market competitiveness. For instance, General Mills brand HäagenDazs produces ice cream made from macadamia nuts and has recently expanded its reach to the Asia Pacific. Some prominent players in the global macadamia nut market include:
- Hawaiian Host Group
- Health and Plant Protein Group Limited
- Superior Nut Company, Inc.
- Hamakua Macadamia Nut Company
- North Shore Macadamia Nut Company
- M. Ward Coffee Company
- Makua Coffee
- US
- Mac's Nut Co. of Hawaii
Order a free sample PDF of the Macadamia Nut Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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