WILMINGTON, DE, UNITED STATES, November 26, 2024 /EINPresswire.com/ -- The therapeutical properties present in macadamia nuts and their associated health benefits are boosting its applications in industries like cosmetics, personal care, and pharmaceuticals, which is projected to foster the growth of the market during the forecast period.
The global macadamia market size was valued at $1.1 billion in 2021, and is estimated to reach $2.9 billion by 2031, growing at a CAGR of 10.3% from 2022 to 2031.
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The global nut industry has witnessed a significant growth in the past decade. The macadamia nuts have gained a significant traction among the global consumers in the recent years. Macadamia is a tree nut derived from the macadamia trees. The rise in production and export-import levels of macadamia across the globe is showcasing the rapid surge in demand for the macadamia nuts across various industry verticals such as food, beverages, cosmetics, and pharmaceuticals. Moreover, the development of innovative food products like popcorn and coconut using the macadamia-based ingredients is expected to gain consumer attention across the globe. Macadamia is a rich source of nutrients, monosaturated fats, and antioxidants that are beneficial for human health. The rise in awareness regarding the health benefits of macadamia among the consumers is expected to boost the consumption of macadamia and drive the global macadamia market growth during the forecast period.
According to the macadamia market analysis, the market is segregated on the basis of form, end use, nature, distribution channel, and region. By form, the market is divided into processed, raw, and oil. By end use, the market is classified into food & beverage, personal care & cosmetic, residential, and pharmaceuticals. The food & beverage segment is further divided into snacks, bakery & confectionery, beverages, desserts, and others. By nature, the market is segregated into organic and conventional. By distribution channel, it is divided into B2B and B2C. Region wise, the macadamia market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Asia-Pacific dominated the global macadamia market registering a revenue share of 42.8% in 2021, followed by North America with 37.8%. The huge demand, high consumption, and availability of macadamia in high volumes have led to the dominance of the Asia-Pacific in the global market. The market is expected to grow owing to the increasing usage of macadamia in food & beverage, pharmaceutical, and cosmetic industries. Along with these factors, the use of macadamia nuts as a gift in China during the Chinese New Year will also help the market is growing at a significant rate. China is the second and Australia is the third largest consumer of macadamia with consumption of 11,033 and 3,448 metric tons as per the International Nut & Dried Fruit Council.
The major players operating in the global macadamia industry include Buderim Ginger, Dr. Paul's Kona Coffee Company, Eastern Produce, Golden macadamias, Hamakua Macadamia Nuts Company, Hawaiian Host Group, Makua Coffee Company, Marquis Group, MWT Foods, Nambucca Macnuts Pty Ltd., North Shore Macadamia Nut, Royal Macadamia (Pty) Ltd., Superior Nut Company, T.M. Ward Coffee Company, and Wondaree Macadamias Nuts. These market players are constantly engaged in various developmental strategies such as acquisitions, mergers, and product launches to exploit macadamia market opportunities and gain market share.
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