Global Walnut Market
The GMI Research forecasts that the Walnut Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the rising disposable income of the consumers, increasing demand for convenience food products, and the growing consumer awareness related to the benefits offered by walnuts, such as rich in antioxidants.
Introduction of the Walnut Market
Walnuts are round, single-seeded stone fruit that grows from the walnut tree. They are considered a good source of healthful fats, fiber, and protein. They help in improving heart and bone health while maintaining the overall body weight.
Key Players of the Global Walnut Market:
- Morada Produce Company L.P.
- Kashmir Walnut Group
- Walnuts Australia
- Poindexter Nut Company
- Alpine Pacific Nut
- Mariani Nut Company Inc.
- California Walnuts
- Andersen Shelling Inc.
- Grower Direct Nut Company, Inc.
- GoldRiver
Walnut Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The expanding disposable income of the consumers and the surging consumption of walnuts by consumers are some of the drivers contributing to the growth of the global walnut market. Individuals these days are switching towards the consumption of healthy food items to sustain their overall health. This has persuaded them to choose food items with nut ingredients such as walnut, cashew, and almonds. Also, the increasing consciousness towards the several health benefits offered by them are reduced inflammation, promotes a healthy gut, rich in antioxidants, and a source of omega-3s. Many studies exhibited that their consumption would reduce the risk of breast, prostate, and colorectal cancers. Moreover, the boost in demand for convenience food products will strengthen the market size. As per FAOASTAT, the total production of in-shell walnuts in China totaled 2.52 million metric tons for 2019. Thus, the escalating of in-shell walnuts will indirectly propel the market demand.
End-Use Segment Drivers
Based on the end-use, industrial is contemplated to experience a robust demand owing to their mounting applications in chocolate, nut butter, bakery, confectionery. Moreover, their soaring usage in savoury dishes, traditional sweets, and in the local restaurants will proliferate the market growth.
Nature Segment Drivers:
Based on nature, the organic segment is projected to witness a higher CAGR during the forecast period. The growing awareness in consumers regarding the benefits offered by these walnuts, such as better heart health, management of weight, enhancement of bone health, is a crucial factor contributing to the market growth. In addition to this, the remarkable change in consumer’s preference towards organic food products will bolster the market growth.
Regional Drivers
Based on the regional coverage, Asia-pacific is predicted to lead the market during the forecast period owing to their intensifying consumption, and the growing health-consciousness among the consumers is stimulating the market growth. Additionally, the continuous development in the processed food industry in many Asian countries supplements market growth. According to the IBEF, India’s food processing sector presented 32% in the country’s total food market and is regarded as one of the topmost industries.
Walnut Market Segmentation:
Segmentation by Nature:
- Organic
- Conventional
Segmentation by Type:
- In Shell
- Shelled
Segmentation by End-Use:
- Household
- Industrial
- Personal Care & Cosmetics
- Pharmaceuticals
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a market research and consulting company that offers business sights and market research reports for every enterprise, including small & medium enterprises and large organizations. Our research team helps the clients to understand the impact of market dynamics such as market size, share, drivers, growth opportunities, and other aspects. We have a team of analysts and industry experts who conduct market intelligence studies to ensure relevant and fact-based research across a wide range of sectors such as FMCG, Technology, Energy, Healthcare, and other industries. We collect relevant information about the industry using both internal and external databases. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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