Global Walnut Market: Snapshot
Recent lifestyle shifts have led people to look for options that are packed with essential nutrients. And, the search has led them to superfoods. And, nuts are particularly known to be super-effective in this domain. Considering, that just a handful is sufficient in to cover a significant portion of daily calorific intake and a respectable portion of minerals and vitamins. And, walnut are no different. Rich in minerals, fiber, fats, antioxidants, Omega-3s, and vitamins, they are garnering huge popularity.
Some other factors also help them see growth in their demand. For instance, their anti-inflammatory properties are quite liked by consumers. It also reduces risk of cancer and promotes a healthy gut, making itself a must have most new age consumers.
Here, it is significant to note that as hectic jobs, longer clock-in periods and huge workloads become the norm, will to focus and prepare meals that are balanced depletes. Thus, it does not come as a surprise that millennial consumer is looking for easy foods that are also functional. At this point, it is also pertinent to spell out factors that are compounding the situation in terms of proper nutrient intake. Two of these are rise in nuclear families and rise in dual income families.
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Also, it is quite important to note that these are not just being consumed in snacks but also in bakery and confectionary products, beverages, salads, sauce, dressings, and even desserts. Some of the spreads also include walnuts as part of the ingredients list.
Thus, the walnut market, as analyzed by Transparency Market Research (TMR), would grow at a steady CAGR (Compound Annual Growth Rate) of 4.1% over the forecast period of 2017 to 2025. This will translate to a higher market worth of value USD 8534.5 million by the end of the forecast period. It is a remarkable increase from the worth noted in 2017 – USD 6197.1 million.
Asia Pacific to Generate Untapped Opportunities for the Global Walnut Market Players over the Forecast Period
A wide consumer base and a culture of having nuts as snacks will help the Asia Pacific (APAC) region to chart a significant CAGR over the forecast period. Besides, their use in pharmaceuticals is also driving growth in the region. Besides, some of the recipes that the region is known for includes walnuts as a critical component – some of the salads, desserts and so on. The growth trend would be followed by Middle East and Africa.
Competitive Landscape of Global Walnut Market to be Fragmented over the Forecast Period
Owing to a large number of players – both local and international – in the market, the competitive landscape is quite fragmented. Players that have made their mark are now considered game changers in the marketscape include Alpine Pacific Nut, Grower Direct Nut Co. Inc., Guerra Nut Shelling Company, Poindexter Nut Company, Andersen Shelling Inc., Webster Limited, Royal Saffron Company, Haleakala Walnut Shelling Inc., Kashmir Walnut Group, Morada Produce Company L.P., Synder’s Lance, Inc., Gold River Orchards, Borges India Private Limited, Empire Nut Company, LLC, among others. And, thus, it does not come as a surprise that the landscape is also quite competitive.