PUBLISHER: The Business Research Company | PRODUCT CODE: 1428108
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428108
The macadamia nut, characterized by its creamy texture and buttery flavor, contains a range of vitamins, minerals, and beneficial plant compounds linked to various health advantages, including improved digestion, heart health, weight management, and blood sugar control.
Macadamia nuts are available in two primary types such as organic and conventional. Organic macadamia nuts are cultivated and processed without the use of synthetic fertilizers, pesticides, GMOs, or artificial chemicals. These nuts are offered in diverse forms, such as raw, processed, and as oil, and are distributed through various channels, including direct and indirect sales. These nuts cater to a wide array of consumers, including residential, commercial, industrial, as well as industries in food, cosmetics, and personal care.
The macadamia market research report is one of a series of new reports from The Business Research Company that provides macadamia market statistics, including macadamia industry global market size, regional shares, competitors with a macadamia market share, detailed macadamia market segments, market trends and opportunities, and any further data you may need to thrive in the macadamia industry. This macadamia market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The macadamia market size has grown rapidly in recent years. It will grow from $1.24 billion in 2023 to $1.38 billion in 2024 at a compound annual growth rate (CAGR) of 11.4%. The growth observed in the historical period can be attributed to the increased awareness among consumers, a rise in health-consciousness trends, expanded global trade, culinary diversity, and the expansion of macadamia cultivation practices.
The macadamia market size is expected to see rapid growth in the next few years. It will grow to $2.06 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The anticipated growth in the forecast period can be attributed to heightened disposable income, the expansion of retail networks, a shift toward plant-based dietary preferences, ongoing innovation in product development, and a heightened focus on sustainable and ethical practices. Additionally, diversification across various applications is expected. Key trends in this period include the introduction of new macadamia product varieties, integration into premium and healthy snack segments, emphasis on culinary uses of macadamia oil, innovative macadamia-based food products, and premium branding positioning as a superfood.
The macadamia market is poised for growth, driven by the increasing consumption of nuts and dried fruits. Nuts and dried fruits, encompassing a diverse array of dehydrated edible plant-based products, serve as concentrated sources of nutrients and flavors, commonly consumed as healthy snacks or utilized in culinary preparations. Macadamia nuts and dried fruits offer various health benefits, including essential nutrients, heart health promotion, weight management support, and overall well-being. Notably, in May 2023, the International Nut and Dried Fruit Council Foundation reported a 15.2% global increase in tree nut production, reaching over 5.46 million metric tons in the 2020-2021 season, up from 4.65 million metric tons in 2019-20. The escalating consumption of nuts and dried fruits is anticipated to be a driving force for the future macadamia market.
The growth trajectory of the macadamia market is further propelled by increasing research and development (R&D) expenditures. R&D expenditure denotes the financial resources allocated by organizations for innovation, product development, and process improvement. The expanding macadamia market aligns with the upward trend in R&D expenditures, as companies invest in technological advancements, sustainable practices, and product diversification to meet consumer demands and maintain competitiveness. In January 2023, The National Center for Science and Engineering Statistics reported a substantial surge in U.S. R&D expenditures, reaching $717 billion in 2020 and an estimated increase to $792 billion in 2021. Notably, $471.7 billion of these expenditures, constituting 66% of the total, was directed towards experimental development. The escalating R&D investments underscore a significant driver for the macadamia market.
The macadamia market is witnessing a significant trend towards innovation in organic-based products, with major companies strategically focusing on introducing novel offerings to maintain their market positions. A case in point is PlantBaby, a US-based food and beverage company, which, in February 2023, launched Mac Nut Kiki Milk. Representing the first all-organic and clean-label macadamia nut milk in the market, Mac Nut Kiki Milk comes in shelf-stable 32-oz. cartons, made entirely with organic whole foods and superfoods. Distinguished by containing more macadamia nuts per serving compared to competitors, Mac Nut Kiki Milk is not only wholly organic but also free from common allergens such as soy and gluten, seed oils, gums, refined sugars, and artificial and natural flavors-aligning with the broader ethos of all PlantBaby products.
Technological advancements emerge as a prominent trend in the macadamia market, with major companies leveraging advanced technologies to enhance operational efficiencies and maintain competitive positions. An illustrative example is Golden Macadamias, a South Africa-based company specializing in macadamia nut cultivation and processing. In November 2021, the company invested in the TOMRA 5C sorting machine, which integrates Biometric Signature Identification technology. This advanced machine offers features such as increased production capacity, defect detection, improved efficiency, and sustainability, providing Golden Macadamias with a substantial competitive advantage. The technology's ability to elevate product quality, reduce food waste, and future-proof operations underscores its pivotal role in meeting the growing demand for macadamia nuts while adhering to stringent quality requirements for export markets.
In April 2023, Hawaiian Host Group (HHG), a consumer goods company based in the United States, completed the acquisition of Mac Farms Pty Ltd. for $26 million. This strategic acquisition is aimed at broadening HHG's business scope while mitigating potential risks within its raw material supply chain. Mac Farms Pty Ltd., an Australian-based private agricultural firm, specializes in the cultivation of macadamia nuts.
Major companies operating in the macadamia market report are Camellia PLC, C. Brewer and Company Ltd.,Golden Macadamias, Castle & Cooke, Buderim Ginger, Mauna Loa Macadamia Nut Corporation, Marquis Macadamias Ltd., Hawaiian Host Group, Kenya Nut Company, Marquis Group, MacFarms, Hamakua Macadamia Nut Company, MWT Foods, T.M. Ward Coffee Company, Superior Nut Company, Buderim Group Limited, Nambucca Macnuts Pty Ltd., Ivory Macadamias Pty Ltd., Eastern Produce Kenya Ltd., Wondaree Macadamia Nuts, North Shore Macadamia Nut Company, Dr. Paul's Kona Coffee Company, Royal Macadamia Pty Ltd., Makua Coffee Company, Royal Macadamia (Pty) Ltd, Maquis Macadamias, Royal Iolani, Wondaree Macadamias Nuts.
North America was the largest region in the macadamia market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the macadamia market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the macadamia market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The macadamia market consists of sales of macadamia tetraphylla and macadamia integrifoIia. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Macadamia Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on macadamia market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for macadamia ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The macadamia market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.