Global Walnut Market: Overview
Increasing inclination of the consumers towards maintaining a healthy lifestyle has led to an increase in consumption of healthy food products and food ingredients. Expanding demand for healthy food coupled with the usage of walnuts in end use industries are the primary drivers leading the global walnut market during the forecast period. The market is also expected to continue being augmented by rising demand for convenience food, innovation in packaging, and expanding population willing to pay a premium for healthy fruits. One such growth in Walnut market is increasing per capita consumption of walnuts globally.
The global walnut market is, however, currently restrained by the lack of vertical integration in the manufacturers in the global market. Increasing competition among key players is the main challenge for walnut manufacturers which will lead to decrease in the profit margin. As competition intensifies in the sector with price wars among leading players, industry players are expected to improve the efficiency of their value chain, from inbound logistics to distribution and, to a large extent, marketing and export of products. Revenue generated from walnut market is estimated was valued at around US$6197.1 mn by the end of 2017 and is expected to increase at a CAGR of 4.1% over the forecast period. Global walnut market are expected to be valued at approximately US$8534.5 mn by the end of 2025.
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With a share of 69.9% in 2017, Raw Walnuts to Lead Global Walnut Market
By category, the Walnut market is segmented into inshell walnuts, and shelled walnuts. The shelled walnuts segment is likely to be the most attractive segment in the forecast period owing to the increased usage of walnut meats into various end-user industries. On the basis of form, the walnut market can be segmented into raw and processed. The processed segment is further sub segmented into powder and oil. The raw walnut segment is estimated to account for a significant revenue share of 69.9% in 2017 and is expected to register significant growth rate during the forecast period.
Furthermore, on the basis of product type, the Walnut market is segmented into black and English walnuts. Amongst these segments, the English walnuts is anticipated to occupy the largest market share of 93.7% in 2017. By nature, the Walnut market can be segmented into organic and conventional where the organic segment is anticipated to witness significant growth over the forecast period owing to the increasing proportion of consumers who wish to pay a premium for organic products. By end use, the Walnuts market is segmented into plain household and industrial. The industrial Walnuts segment is likely to be the most attractive segment in the forecast period.
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Wider Consumer Base in Asia Pacific puts Regional Market on Top
On the basis of region, the market in Asia Pacific and Europe is expected to dominate over the forecast period followed by the Middle East & Africa. A large number of consumer base has been developed in Asia Pacific for the products such as walnuts as a snack, and in pharmaceutical formulations. Asia is expected to become a prominent player by the end of the forecast period with a significant CAGR attributed to increase in the per capita consumption of Walnuts in the region.
Some of the major companies operating in the global Walnut market are Alpine Pacific Nut, Grower Direct Nut Co. Inc, Guerra Nut Shelling Company, Poindexter Nut Company, Andersen Shelling Inc, Webster Limited, Royal Saffron Company, Haleakala Walnut Shelling Inc, Kashmir Walnut Group, Morada Produce Company L.P., Synder’s Lance ,Inc., Gold River Orchards, Borges India Private Limited, Empire Nut Company, LLC, Agromillora Group, California Walnut Company, Crain Walnut Shelling Inc, Mid Valley Nut, Plantabul Ltd., Pepinoix, Mariani Nut Company Inc, Grimo Nut Nursery, Sacramento Valley Walnut Growers LLC.
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High Nutritional Properties of Walnuts to Aid in Expansion of Walnut Market
Expanding tendency of the buyers towards keeping a solid way of life has prompted an expansion in utilization of good food items and food fixings. Walnut is utilized underway of nut pickle or in the wake of aging it is utilized for its nutmeat. It improves the way toward lessening awful LDL cholesterol and has fundamentally better omega-3 fats and advance cell reinforcement movement than some other nut. This rich supplement properties of walnuts give numerous medical advantages, for example, improved coronary illness hazard factors and diminished aggravation. Moreover, walnut has numerous skins, hair and medical advantages alongside its many cooking employments.
The growing interest for good food combined with the utilization of walnuts in end use enterprises are the essential drivers driving the worldwide walnut market during the estimate time frame. The market is likewise expected to keep being increased by rising interest for comfort food, advancement in bundling, and growing populace willing to pay an expense for sound natural products. One such development in Walnut market is expanding per capita utilization of walnuts all around the world.
Change in lifestyle and eating habits have driven individuals to search for alternatives that are loaded with fundamental supplements. Furthermore, the pursuit has driven them to superfood. Also, nuts are especially known to be super-compelling in this area. As per the nutritional qualities of walnut, a modest bunch is adequate to provide adequate calories required by the body with a decent amount of minerals and nutrients. Plentiful in minerals, fiber, fats, cell reinforcements, Omega-3s, and nutrients, they are collecting colossal prominence.
Regionally, a wide shopper base and a culture of having walnuts as bites will help the Asia Pacific (APAC) locale to graph a critical CAGR over the conjecture time frame. Plus, their utilization in drugs is additionally driving development in the area. Furthermore, a portion of the plans that the area is referred to for incorporates walnuts as a basic segment – a portion of the servings of mixed greens, treats, etc. The development pattern would be trailed by Middle East and Africa.
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