Macadamia Nut Market 2020 and Forecast 2021-2027

  • TBI861666
  • November 05, 2020
  • Global
  • 135 pages
  • IFF Market Research
                                              

Report Overview: Macadamia Nut Market

The global macadamia nut market size was valued at USD 1.06 billion in 2020 and looks set to grow at a compounded annual growth rate (CAGR) of 8.1% from 2021 to 2027. Rising adoption of nut and dried fruits in regular diet across the world has been propelling the market growth. According to the International Nut and Dried Fruit Council (INC), Statistical Yearbook 2018-19, tree nut consumption has been increasing across the globe during the last decade. It also highlighted that, in relative terms, the rise was highest in the low-income economies. Increasing awareness regarding the benefits of nut and dried fruits helps has been acting as an important factor for market growth. Macadamia nut comes along with a large set of health benefits. The nut is considered a valuable food crop and is a rich source of numerous essential nutrients. It is known to lower heart disease risks. According to the research “Macadamia Nut and Cardiovascular Disease Risk Factors” published by the Federation of American Societies for Experimental Biology, the nut is rich in palmitoleic acid and oleic acid. These unsaturated fatty acids reduce the risk of chronic diseases. Macadamia nut is also known to decrease total blood cholesterol and LDL-cholesterol. Along with this, it is known to improve metabolic syndromes and diabetes. Macadamia nut is native to Australia, and thus are an important ingredient in the Australian cuisine. The globalization of food and availability of items everywhere has created space for the nut in various other cuisines too. These are known to have a subtle, buttery rich flavor. These are creamier than crispy, and thus is used for cooking and baking a wide variety of sweet dishes. Furthermore, as these are gluten-free, products made using these are in high demand among the gluten-intolerant population. These are largely used in preparing ice creams, pies, candies, cookies, biscotti, fudge, cakes, brownies, macaroons, muffins, pudding, bars, waffles, hummus, scrolls, and various other recipes. Along with that, these are largely used as frosting and seasonings too. Macadamia nut is also used for macadamia oil production, which has gained popularity among businesses as well as customers. People can be seen replacing their conventional cooking or dressing oil with macadamia oil, thus enhancing its consumption. The oil is also largely used in the pharmaceutical and cosmetic industry. It is used in the preparation of protein powder supplements. Its oil capsules are used as a dietary supplement with nutritional and health-maintenance properties. It quickly penetrates the epidermal of the skin and has a softening effect. Owing to this, it is an essential component of various skin repair products, moisturizing products, soothing products, and anti-aging products. Long term use of these products is known to bleach the dark spots, regenerate the skin, and reduce the wrinkles. Processing Insights Conventional macadamia nut accounted for the largest share of 80.0% in 2019. These macadamia nuts are pocket friendly for customers and are also much more readily available in comparison to other products. Most small-scale domestic manufacturers produce these conventional macadamia nuts and their dominance can be seen on the shelves of supermarkets and hypermarkets. The organic macadamia nut segment is expected to register the highest CAGR of 09.1% from 2021 to 2027. Increasing penetration of organic food is a major cause behind the growth. These macadamia nuts are healthier than conventional products as these are free from synthetic pesticides and fertilizers.  Along with that, these do not undergo any genetic modification to improve pest resistance and crop yields, making it much more suitable for human intake.

Distribution Channel Insights: Macadamia Nut Market

Offline accounted for the largest share of more than 80.0% in 2019. The proximity of these channels, along with access to a wide variety of products on the same platform, is projected to convince people to buy through such distribution platforms. Furthermore, the majority of people prefer purchasing products through such channels and avail various add-on benefits, such as discounts and coupons. Online is expected to register the highest CAGR of 8.6% from 2021 to 2027. Increasing dependence of the millennials on e-commerce channels on account of rising importance of convenience is propelling the trend of shopping for groceries through online platforms.

Product Insights: Macadamia Nut Market

Raw macadamia nut accounted for the largest revenue share of more than 50.0% in 2019. These cost lower than both roasted as well as coated macadamia nut. These are used as an important ingredient in various dishes. Along with retail customers, these products are in demand among various industries, including food and beverage, pharmaceutical, and cosmetics. The food and beverage industry uses it as a crucial ingredient in preparation of gluten-free products. Along with that, a large quantity of these nuts is used to collect oil, which is used for both dressing and cooking. The use of these macadamia nuts is widely targeted for the preparation of skin rejuvenating and moisturizing products. The coated macadamia nut segment is expected to register the highest CAGR of 09.1% from 2021 to 2027. The variety has developed as a popular confectionary among people of all ages, especially children. The macadamia nut are coated in chocolate, honey, and caramel. These are often bought to enhance the consumption of chocolate among kids and sometimes are also exchanged in form of gifts and sweets during the festive seasons.

Regional Insights: Macadamia Nut Market

Asia Pacific held the largest share of over 45.0% in 2019. The consumption of the product has been increasing in China, Japan, Vietnam, Australia, South Korea, Malaysia, Thailand, and Singapore. This growth in consumption is attributed to increased penetration of macadamia nut in the region. Europe is expected to be the fastest growing regional market with a CAGR of 09.7% from 2021 to 2027. According to International Nut and Dried Fruits Statistical Yearbook 2018-19, Europe imported over 25% of the tree nut. According to CBI Ministry of Foreign Affairs natural, low-sugar, and safe products are the main trends supporting the increasing consumption of edible nut and dried fruit.

Key Companies & Market Share Insights: Macadamia Nut Market

Companies have been striving to create steady flow of macadamia nut in the market. The harvest is susceptible to pest and insect infestation and climatic inconsistency, which has affected the supply of macadamia nut to the consumers. Thus, companies, along with suppliers, are trying to redesign the supply chain to benefit maximum from these products. Some of the prominent players operating in the global macadamia nut market include:

Key companies Profiled: Macadamia Nut Market Report

  • Hawaiian Macadamia Nut Orchards, L.P.
  • Buderim Group Limited
  • Hamakua Macadamia Nut Company
  • Macs Nut Co. of Hawaii
  • North Shore Macadamia Nut Company
  • Superior Nut Company, Inc.
  • Makua Coffee
  • T.M. WARD COFFEE COMPANY
Products Covered in the Report This report forecasts revenue growth at the global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global macadamia nut market report on the basis of processing, product, distribution channel, and region:

Processing Outlook (Revenue, USD Million, 2016 - 2027)

  • Organic
  • Conventional

Product Outlook (Revenue, USD Million, 2016 - 2027)

  • Raw
  • Roasted
  • Coated

Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)

  • Online
  • Offline

Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
    1.3.1. Purchased Database(Statista, FactSet, Bloomberg, SDC Platinum)
    1.3.2. IFF Internal Database
    1.3.3. Secondary Sources & Third-Party Perspectives
    1.3.4. Primary Research
1.4. Information Analysis 
    1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization  
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