PUBLISHER: SkyQuest | PRODUCT CODE: 1189213
PUBLISHER: SkyQuest | PRODUCT CODE: 1189213
Global Macadamia Market was valued at USD 1.45 billion in 2021 and it is expected to reach at USD 2.95 billion by 2028, at a CAGR of 10.9% over the forecast period (2022-2028).
Demand for organic macadamia is rising, with demand coming mostly from European nations. The widespread usage of processed macadamia nuts in a variety of industrial sectors, including the food and beverage industry and the cosmetics and personal care sector, is also helping to increase their market share globally. The three countries with the highest macadamia production rates are South Africa, Hawaii, and Australia.
Top-down and bottom-up approaches were used to estimate and validate the size of the global macadamia market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
Global macadamia market is segmented by product, processing, and distribution channel. By product, the market is sub-segmented into organic and conventional. By processing, the market is categorized into raw, coated, and roasted. By distribution channel, the market is segmented into online and offline.
Driver
The demand for and acceptance of organic food has grown significantly in recent years. Over the coming years, the industry is anticipated to experience rapid growth. It is predicted that it will have a noticeable growth curve in a developing country like India. This industry's macadamia market, which plays a significant role in it, is anticipated to increase at a similar rate in the years to come.
Restraint
Because macadamia nuts are frequently of low quality, many potential buyers avoid buying them.
Due of their limited availability, many individuals find it challenging to buy them. However, as the worldwide macadamia market's demand grows, their availability is rising. Many people are unaware of what a macadamia nut is, let alone how to prepare or consume it. The demand for the product is constrained by this ignorance. Macadamia nuts have a bad reputation for being fattening or harmful, according to some people. Some people may be discouraged from wanting to consume them because of this.
Market Trends
Due to a social expectation that people take care of their physical appearance, the world's population is growing more and more aware of fitness. As a result, well-rounded diets that include natural components are taking the place of fast food fads. Fitness clubs themselves promote these diets and urge for more organic food additions. The worldwide fitness business is predicted to expand significantly during the next five years. The macadamia market is anticipated to develop concurrently as a result.