By 2034, the size of the worldwide macadamia market could surpass US$ 5.2 billion. its sales are fueled by its reputation as a nutritious snack alternative. The macadamia nut market is expected to be worth US$ 2.45 billion in 2024. Understanding the industrial demands and customer preferences that are propelling the expansion of the macadamia market, the demand spike is projected to reach a 7.80% CAGR through 2034.
An evolving trend for healthy snack alternatives among consumers across the world has significantly increased demand for macadamia nuts. Also, its nutritional properties due to containing high levels of monounsaturated fats and other vital components, have increased its popularity in non-native locations. Macadamia powder can be added to several culinary dishes, ranging from baked foods to confectionery, which has generated a diversified and vast customer base.
Currently, investments in precision agricultural techniques and cutting-edge processing technology have increased macadamia production efficiency and assured a consistent supply of high-quality macadamia nuts. Notably, more production of premium macadamia nuts has enabled advantageous pricing, which has contributed to strong revenue growth in the present market.
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Key Takeaways from the Macadamia Market Report
- The total consumption of macadamia in the United States is higher in comparison to other countries. The country is estimated to account for almost 24.4% of the global revenue share.
- In Europe, Germany is the leading regional market for the processing and consumption of macadamia products. In the current year 2023, this regional market is estimated to contribute to almost 7.4% of the global revenue share.
- Though Australia is known to be the native place for macadamia nuts, it has only a 3.2% market share in processed macadamia business worldwide.
- In Asia, China is known as the hub for macadamia processing and export. As of 2023, it holds around 13.2% of the global demand for macadamia.
- Japan is also a significantly growing market for sales of macadamia in Asia these years. It is expected to hold a global market share of 5.4% in the current year 2023.
Competitive Landscape for the Macadamia Market
Industries and participants in the global macadamia business are positioning themselves strategically to benefit from the growing popularity of macadamia outside Australia’s mainland. Added to that, a greater emphasis on marketing and distribution through online sales channels has allowed market participants to reach a broader audience.
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Recent developments by the Macadamia Processing Industries
A South African cooperative firm named Golden Macadamias developed a TOMRA 5C sorting system with Biometric Signature Identification technology in April 2022. This is a high-end optical sorting system or machine for nuts and dried fruits to achieve the finest product quality with a huge macadamia production volume.
Milkadamia Inc. debuted a new macadamia nut oil milk product line at Natural Products Expo West in March 2022. Macadamia milk under this category comes in salted caramel and pumpkin pie flavors aimed at attracting more consumers in the younger age group.
The World Macadamia Organization, located in China, launched its first consumer marketing campaign in January 2022. It was initiated to promote the importance of macadamias by presenting the ritual of cracking nut-in-shell macadamias during specific Chinese Festivals.
The Market has been Segmented as
By Nature:
- Organic
- Conventional
By Form:
- Raw
- Processed
- Oil
By End Use:
- Residential
- Commercial
- Industrial
- Food Industry
- Confectionery
- Bakery
- Dairy
- Snacks
- Others
- Cosmetic and Personal Care
By Distribution Channel:
- Direct
- Indirect
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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