Macadamia Nut Market Growth & Trends
The global macadamia nut market size is expected to reach USD 2.95 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.7% from 2021 to 2028. With the growing importance of healthy eating, the market is growing at a faster rate, and consumers are increasingly adopting nuts as a healthy snack option and incorporating them into their daily meals. Furthermore, organic macadamia is becoming more popular with the increased demand primarily coming from European countries.
Macadamia nuts are an Australian native nut. These nuts are the fruits of the macadamia tree, which can be found in eastern Australia. These lustrous nuts have a leathery outer shell and are around 1 inch in diameter. Macadamia nuts are mostly farmed in Australia, but they are also grown commercially in Hawaii and, to a lesser extent, Florida and California.
While macadamia nuts are native to Australia and are farmed there, commercial production is concentrated in Hawaii. Macadamia trees can be found in California and Florida for the continental United States, and in several nations in Latin America, Africa, and Asia. The highest quality macadamia kernels are not only free of defects or insect and fungal damage but also contain at least 72 percent oil. The kernels with less than 72 percent oil are usually immature and harder and become over-brown when roasted.
While the product is often utilized as an ingredient in Australia, the United States, and Japan, macadamia nuts are still mostly eaten as a snack in Europe (usually roasted and salted). However, as the global supply grows, so does interest in many European businesses, with macadamia nuts increasingly being utilized in the manufacturing of butter, chocolate coating, and as a confectionery ingredient.
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Macadamia Nut Market Report
Macadamia Nut Market Report Highlights
- Based on processing, the conventional segment accounted for the largest share of 80.4% in 2020. Conventional macadamia nuts are budget-friendly for consumers and much more readily available in comparison to their organic counterparts
- The offline distribution channel segment accounted for the largest share of 80.4% in 2020. The growth of this channel can be attributed to super markets’ home delivery and click-and-collect services, which are luring customers to this channel
- Asia Pacific captured the largest share of 43.6% in 2020. This can be credited to the growing awareness of diets rich in nutrients and protein, along with the increasing inclusion of tree nuts in diets across the region
