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The Macadamia Market share projected to increase by USD 998.22 million and the market size is estimated to grow at a CAGR of 9.71% between 2023 and 2028.
This macadamia market analysis report extensively covers market segmentation by type (conventional and organic), distribution channel (offline and online), and geography (APAC, North America, Europe, Middle East and Africa, and South America). Our report examines historical data from 2018 - 2022, besides analyzing the current market scenario.
The rising popularity of vegan snacks among millennials is notably driving the market growth. The purchasing power of millennials across the globe is increasing, and they are expected to form a large consumer segment during the forecast period. The increased consumption of macadamia globally is due to the several health benefits offered by them and the inclination of consumers towards convenient, portable snacking options due to their busy lifestyles. Almost every type of product in the tree nuts category serves this purpose. Collectively, these factors have contributed to the increased consumption of macadamia globally, thereby driving the market in focus. With an annual spending power of about USD 200 billion, the millennial population forms an attractive consumer segment for the players in the global macadamia market. The players in the market are also coming up with new and innovative snacks to cater to the rising demand from the millennial population base. Therefore, such factors will drive the growth of the macadamia market during the forecast period.
The Macadamia Market shows an accelerated CAGR during the forecast period.
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A rise in the number of macadamia nut-based snack launches is notably driving the market growth. Macadamia is used across various end-user applications, such as bakery and confectionery products, breakfast cereals, snacks, flavored drinks, and dairy products. Convenient snacks are increasingly used in the keto and vegan diet, and their inclusion in various food products is increasing globally. Several new products are being launched, such as macadamia milk and others, with macadamia being the major ingredient.
Moreover, the increasing consumer inclination toward convenient and healthy foods is a major reason driving the increase in the consumption of macadamia-based snacks. The familiarity with macadamia and its premium product /image is also contributing to the demand for macadamia-based snacks. Thus, with more such product launches, the demand for macadamia nuts is expected to increase during the forecast period.
The potential source of allergens is a significant challenge hindering the market growth. Although macadamia nuts have several health benefits, they can be potential sources of allergenic proteins that can cause serious health conditions among people prone to tree nut allergy. This is one of the major factors expected to limit the growth of the global macadamia market during the forecast period. According to Health Canada, tree nuts are the priority allergens. There is a widespread prevalence of tree nut allergies globally. In the US, the rate of tree nut allergy was 0.2% and 0.5% among children and adults, respectively. Tree nut allergy is the most common type of allergy, particularly in infants and young children. Around 3.2% of the global infant population was prone to peanut allergies. Several symptoms are observed in people allergic to tree nuts.
However, these symptoms manifest due to the release of histamine in response to an allergen. Anaphylaxis is the most serious type of allergic reaction among people prone to tree nut allergies. It results in various respiratory, gastrointestinal, and cardiovascular diseases. It also affects the skin, causing anxiety and headaches, among other health problems. Therefore, the health risks associated with tree nuts such as macadamia consumption, may limit their demand and, thereby, restrict the growth of the global macadamia market growth during the forecast period.
The offline segment dominates the global macadamia market, with the largest market share in 2023. The offline distribution segment includes hypermarkets, supermarkets, discount stores, and speciality stores. Supermarkets and hypermarkets are the most efficient forms of distribution. In developing countries such as India and China, tree nuts are mostly sold through supermarkets. The offline segment expansion is driven by its simple access to and search for different nut items through stores. The increase in sales through offline distribution channels is expected to boost the growth of the global macadamia market during the forecast period.
The market share growth by the conventional segment will be significant during the forecast period. The conventional segment is expected to register a significant growth in the global macadamia market in 2023. Conventional macadamia nuts are highly affordable and are more widely available than sustainably grown nuts or organic nuts. Conventional macadamia nuts generally possess a longer shelf life as they are often treated with preservatives or other chemicals in order to prevent spoilage.
The conventional segment was the largest and was valued at USD 1.10 billion in 2018
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The increase in applications of macadamia nuts for producing different products, including edible oil, snacks, confectioneries, desserts, cosmetics, and bakeries, has significantly fostered the demand for processed macadamia across the globe. The significantly growing demand for healthy snacking among the global population, along with the rising awareness regarding the health benefits of macadamia nuts and its by-products, is anticipated to boost the demand for the conventional segment. Therefore, the conventional segment is expected to grow in the global macadamia market during the forecast period.
APAC is estimated to contribute 51% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC dominates the global macadamia market in 2023. Factors such as rising concerns about health among the residents boost the growth of the regional macadamia market. The growth of the macadamia market in the region can be further attributed to the growing importance of healthy eating among the residents and incorporating nuts such as macadamia nuts into their daily diets. Owing to the increasing vegan population and the growing health concerns over the consumption of dairy-based products, consumers in this region prefer to purchase dairy-free alternatives, including macadamia nuts.
In addition, the easy availability of different macadamia snacks in a variety of flavors attracts health-conscious consumers and significantly contributes to the growth of the regional macadamia market. The increase in the applications of macadamia nuts for producing different products, including edible oils, snacks, confectioneries, desserts, cosmetics, and bakeries, significantly fostered the growth of the regional macadamia market during the forecast period.
Company Overview
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The macadamia market report also includes detailed analyses of the competitive landscape of the market and information about 19 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The macadamia market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Macadamia Market Scope |
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Report Coverage |
Details |
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Page number |
147 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.71% |
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Market Growth 2024-2028 |
USD 998.22 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
8.87 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 51% |
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Key countries |
US, China, Australia, Japan, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Bardakcigroup, Barry Callebaut AG, Buderim Ginger, Dr Paulos Kona Coffee and Macadamia Nut Farms, Eastern Produce, Golden Macadamias Pty Ltd., Hamakua Macadamia Nut Co., Hawaiian Host Group, Macadamias Direct, Makua Coffee Co., Marquis Macadamias, MWT Foods, North Shore Macadamia Nut Co., Royal Macadamia Pty Ltd., Superior Nut Co. Inc., T M Ward Coffee Inc., and Wondaree Macadamias Nuts |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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