The global chestnuts market size has the potential to grow by USD 1.65 billion during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period.
This report provides a detailed analysis of the market by geography (APAC, Europe, MEA, North America, and South America) and type (Asiatic chestnut species, European chestnut species, and American chestnut species). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Berjaya Corp. Berhad, Chengde Shenli Food Co. Ltd., Chestnut Growers Inc., E. & A. Potamianou Inc., Planet Green Holdings Corp., Qinhuangdao Yanshan Chestnut Co. Ltd., SAMRIOĞLU Group of Companies, Shandong Maria Food Co. Ltd., Shandong Zhifeng Foodstuffs Co. Ltd., and V. Besana Spa.
Market Overview
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Market Competitive Analysis
The market is currently fragmented, and the degree of fragmentation will increase during the forecast period. A few of the vendors operating in the global chestnuts market are offering their products online to increase their sales. Berjaya Corp. Berhad, Chengde Shenli Food Co. Ltd., and Chestnut Growers Inc. are a few of the major market participants. Although the accelerating growth momentum will offer immense growth opportunities, the high cost of chestnuts will challenge the growth of the market participants. To increase their chestnuts market share, companies should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market positions, this chestnuts market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and provides information on the products offered by various companies. Moreover, this chestnuts market analysis report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading chestnut companies, including:
- Berjaya Corp. Berhad
- Chengde Shenli Food Co. Ltd.
- Chestnut Growers Inc.
- E. & A. Potamianou, Inc.
- Planet Green Holdings Corp.
- Qinhuangdao Yanshan Chestnut Co. Ltd.
- SAMRIOĞLU Group of Companies
- Shandong Maria Food Co. Ltd.
- Shandong Zhifeng Foodstuffs Co. Ltd.
- V. Besana Spa
Chestnuts Market: Segmentation by Region
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APAC was the largest market for chestnuts in 2019, and the region will continue to offer maximum growth opportunities to market vendors during the forecast period. Factors such as increased production and export of chestnuts in China and South Korea and rising demand for Chinese chestnuts are contributing to the chestnuts market growth in this region.
Over 88% of the market’s growth will originate from APAC during the forecast period. China is a key market for chestnuts in APAC. Market growth in this region will be faster than the growth of the market in other geographies.
Chestnuts Market: Segmentation by Type
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Chinese chestnuts and sweet chestnuts are two of the most popular Asiatic chestnut species. The high popularity of these chestnuts can be attributed to their larger size and superior quality compared with other species grown in other regions of the world. The high export volume of Asiatic chestnut species from China is one of the major factors driving the chestnuts market growth by the Asiatic chestnut species segment.
Market growth by the Asiatic chestnut species segment will be faster than the growth of the market by the European chestnut species and American chestnut species segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the chestnuts market size.
Chestnuts Market: Key Drivers and Trends
The health benefits of chestnuts is one of the significant factors driving the growth of the chestnuts market size. Chestnuts are good sources of nutrients, such as vitamin C, vitamin B1, vitamin B2, vitamin B6, folic acid, manganese, copper, and magnesium. Hence, chestnuts help in providing several health benefits, such as preventing body cell damages and chronic diseases and minimizing risk factors associated with heart diseases. The consumption of chestnuts also helps in improving the digestion process and developing and maintaining bone mineral density in the human body. Moreover, chestnut is known to keep the brain healthy. With the increasing number of consumers preferring food products induced with healthy functional ingredients, the demand for chestnuts used as a healthy ingredient in food products will also grow.
- The increased use of chestnuts in confectionery has been identified as one of the critical chestnuts market trends.
- Chestnuts are rich in proteins, minerals, vitamins, essential fibers, and fatty acids.
- Hence, confectionery companies are increasingly using chestnuts as a healthy ingredient in their products to increase their offerings and attract customers.
- The availability of processed chestnut products, such as powdered or pureed chestnuts in distinct flavors, has further boosted their application as an ingredient in confectionery products.
- The use of chestnuts sourced directly from producers and suppliers will also help confectionery vendors to place their products under the premium category.
- Thus, the rising popularity of chestnut-based confectioneries will fuel the growth of the market during the forecast period.
- During 2020-2024, the chestnuts market size will grow at a CAGR of almost 3%.
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Chestnuts Market: Key Highlights of the Report for the Forecast Period 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will accelerate the growth of the chestnut market during the next five years
- Precise estimation of the global chestnuts market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the chestnuts industry across APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of chestnuts vendors
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