Demand for Macadamia is anticipated to Surge at 11.2% CAGR through 2033, Value might cross US$ 5.08 billion | Future Market Insights Inc.
Future Market Insights Global and Consulting Pvt. Ltd.
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Future Market Insights Global and Consulting Pvt. Ltd.
Australia's macadamia nut industry boasts 6 million trees across 16,000 hectares, nurtured by 850 devoted growers.
NEWARK, Del, Oct. 17, 2023 (GLOBE NEWSWIRE) -- By the end of 2022, the worldwide demand for macadamia was estimated to be around US$ 2.2 billion. Further, the net revenue from total macadamia nuts sales globally in 2023 is anticipated to be about US$ 2.37 billion. The entire market value is predicted to rise at an 11.2% annual growth rate between 2023 and 2033. Finally, the global macadamia market value is expected to reach US$ 5.08 billion by the end of 2033.
An evolving trend for healthy snack alternatives among consumers worldwide has significantly increased demand for macadamia nuts. Also, its nutritional properties due to, due to itsevels of monounsaturated fats and other vital components, have increased its popularity in non-native locations. Macadamia powder can be added to several culinary dishes, ranging from baked foods to confectionery, which has generated a diversified and vast customer base.
Currently, investments in precision agricultural techniques and cutting-edge processing technology have increased macadamia production efficiency and assured a consistent supply of high-quality macadamia nuts. Notably, more production of premium macadamia nuts has enabled advantageous pricing, which has contributed to strong revenue growth in the present market.
The total consumption of macadamia in the United States is higher in comparison to other countries. The country is estimated to account for almost 24.4% of the global revenue share.
In Europe, Germany is the leading regional market for the processing and consumption of macadamia products. In the current year 2023, this regional market is estimated to contribute to almost 7.4% of the global revenue share.
Though Australia is known to be the native place for macadamia nuts, it has only a 3.2% market share in processed macadamia business worldwide.
In Asia, China is known as the hub for macadamia processing and export. As of 2023, it holds around 13.2% of the global demand for macadamia.
Japan is also a significantly growing market for sales of macadamia in Asia these years. It is expected to hold a global market share of 5.4% in the current year 2023.
“After the emergence of new participants, the global market is seeing an increase in product variety, such as flavored macadamias and value-added goods. So, marketing of novel products with attractive packaging has surged the consumption of macadamia in recent years.” – Says Nandini Roy Choudhury, Client Partner at Future Market Insights.
Competitive Landscape for the Macadamia Market
Industries and participants in the global macadamia business are positioning themselves strategically to benefit from the growing popularity of macadamia outside Australia's mainland. Additionally, a greater emphasis on marketing and distribution through online sales channels has allowed market participants to reach a broader audience.
Recent developments by the Macadamia Processing Industries
A South African cooperative firm named Golden Macadamias developed a TOMRA 5C sorting system with Biometric Signature Identification technology in April 2022. This high-end optical sorting system or machine for nuts and dried fruits to achieve the finest product quality with a huge macadamia production volume.
Milkadamia Inc. debuted a new macadamia nut oil milk product line at Natural Products Expo West in March 2022. Macadamia milk under this category comes in salted caramel and pumpkin pie flavors aimed at attracting more consumers in the younger age group.
The World Macadamia Organization, located in China, launched its first consumer marketing campaign in January 2022. It was initiated to promote the importance of macadamias by presenting the ritual of cracking nut-in-shell macadamias during specific Chinese Festivals.
Scope of Report
Attribute
Details
Macadamia Market Size Value in 2023
US$ 2.37 billion
Macadamia Market Forecast Value in 2033
US$ 5.08 billion
Global Growth Rate (2023 to 2033)
11.2
%
Forecast Period
2023 to 2033
Historical Data Available for
2018 to 2022
Market Analysis
US$ billion for Value
Key regions covered
North America, Latin America, Europe, South Asia, East Asia, Oceania and the Middle East & Africa
Key Countries Covered
Australia, United States, Canada, Brazil, South Africa, Mexico, Argentina, Germany, France, Spain, United Kingdom, BENELUX, Thailand, Indonesia, Malaysia, China, Japan, South Korea, Australia, New Zealand, GCC, Northern Africa & Southern Africa
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives. She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India. Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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