The latest market report published by Credence Research, Inc. “Global Walnut Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028. The global walnut market has witnessed steady growth in recent years and is expected to continue growing at a CAGR of 5.20% between 2023 and 2030. The market was valued at USD 8.1 billion in 2022 and is expected to reach USD 11.5 billion in 2030.
The organic segment is predicted to develop at the fastest rate, while the processed category is also growing in popularity due to the convenience it offers. The personal care and cosmetics category of the walnut market is expected to grow at the fastest rate, with Asia Pacific leading the market growth.
Several factors are driving the global walnut market, including the increasing demand for nutritious foods and the growing interest in plant-based protein. Walnut health benefits are becoming more popular as there is a higher need for healthy foods. However, the market also faces challenges, such as competition from other nuts and plant-based protein sources, climate change, and unpredictable weather patterns.
Secondly, the rising disposable income levels in China have contributed to an increased purchasing power among consumers. With greater financial resources at hand, individuals are willing to spend more on premium quality products such as walnuts. Moreover, walnuts are not only consumed as a snack but also used extensively in various culinary preparations across different regional cuisines of China. This versatility further drives their demand and popularity within the country.
Key players in the global walnut market include Agromillora Group, Alpine Pacific Nut Company, Andersen and Sons Shelling Inc., Crain Walnut Shelling Inc., Empire Nut Company LLC, GoldRiver Orchards Inc., Grower Direct Nut Co. Inc., Guerra Nut Shelling Co Inc, Haleakala Walnut Shelling Inc., Kashmir Walnut Group, Poindexter Nut Company, and others. These companies focus on product innovation, expanding their distribution channels, and mergers and acquisitions to stay ahead in the market.
Walnut Market Dynamics refers to the intricate interplay of various factors that influence the supply and demand dynamics within the walnut industry. This encompasses a wide range of elements, including global production levels, market trends, consumer preferences, and even climate conditions. As one of the most widely consumed tree nuts globally, walnuts occupy a significant position in both domestic and international markets. The fluctuations in walnut prices are primarily driven by supply and demand imbalances caused by crop yields, changing dietary habits, economic factors affecting purchasing power, as well as trade policies impacting imports and exports. Furthermore, Walnut Market Dynamics also encompass technological advancements in cultivation techniques or processing methods that can affect productivity levels or quality standards.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Walnut Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- Major nations in each region with their import/export statistics
- The global Walnut Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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