Global Macadamia Nut Market - 2023-2030

Global Macadamia Nut Market - 2023-2030

The global macadamia nut market reached US$ 1.4 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 3.5 billion by 2030. The market is expected to exhibit a CAGR of 8.2% during the forecast period (2023-2030).

A variety of tree nuts with a creamy texture and buttery flavor is the macadamia nut. There are numerous things that can be made from, cooked with, or consumed from macadamia kernels. Popular flavors include wasabi-flavored, honey-roasted, salted, and coated in chocolate. They are also turned into oil by cold pressing them into a paste that is used in ice cream, pastries, and biscuits.

Oil-roasted macadamia nut kernels are widely used, however, dry-roasted nuts are favored because they only contain inorganic macadamia oil. Growing public awareness of the benefits of nuts and dried fruits for health has been a significant factor for macadamia nut market growth. Macadamia oil, which is gaining popularity with both consumers and businesses, is another product made from macadamia nuts.

Market Dynamics

An Increase in Government Initiatives is Promoting the Production and Trade of Macadamia Nuts.

Increased production of macadamia nuts in the major producing nations is a result of government initiatives. For instance, in 2021, the output of macadamia in South Africa, Australia, Kenya, and China was 54,174, 48,500, 38,500, and 32,000 metric tons, respectively, according to the International Nut & Dried Fruit Council. As a result, rising demand is resulting in increased production, which is further anticipated to drive macadamia nut market growth during the forecast period of 2023-2030.

Furthermore, the Hawaii Macadamia Nut Association conducted research on numerous topics, including micronutrient management, integrated pest management, and nutrient management. One such experiment was on producing macadamia, which included all the crucial soils in macadamia nuts, as well as establishing the soil's nutritional quality, tissue concentration for bearing macadamia nuts, and other variables. Such experiments are also supporting the production of macadamia nuts, which is a major driver of macadamia nut market.

The Health Benefits Associated With Macadamia Nut is Driving the Market Growth.

Customers are attracted to macadamia nuts due to their abundance of many vital nutrients and reputation for reducing the risk of heart disease. According to the USDA's agricultural research agency, consuming macadamia nuts may reduce the risk of heart attacks by 28%.Antioxidants and flavonoids found in macadamia nuts also protect cells from oxidative stress and inflammation.

Additionally, tocotrienols, a form of vitamin E, are present in them and may offer some protection against cancer and brain disorders. The risk of metabolic syndrome may be reduced with the help of macadamia nuts. People with type 2 diabetes may find that macadamia nuts assist them to manage their blood sugar levels, reducing their chance of developing metabolic syndrome. These are the benefits associated with macadamia nuts, which in turn, the factors responsible for the macadamia nut market growth.

COVID-19 Impact Analysis

The COVID-19 analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with pricing dynamics (including pricing change during and post-pandemic comparing it with pre-COVID scenarios), demand-supply spectrum (shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), government initiatives (initiatives to revive market, sector or industry by government bodies) and manufacturers strategic initiatives (what manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global macadamia nut market is segmented based on type, category, application, and region.

Increasing Popularity for Organic Macadamia Nut is Driving the Category Segment Growth

The global macadamia nut market has been segmented by category into organic and conventional. The organic segment held the largest macadamia nut market share of 31.3% in 2022 in the macadamia nut market analysis report. Macadamia nuts grown organically are used to make a variety of foods, drinks, and cosmetics, including organic macadamia. Consumer interest in organic macadamia is rapidly growing.

The market for organic macadamia nuts is expanding as a result of rising consumer demand for natural and organic goods as well as the positive effects they have on health. In 2023–24, organic sales are expected to exceed $68 billion, growing by $1.8 billion per year, according to the Organic Trade Association (OTA). In the United States, food sales, which made up more than 90% of organic sales, reached $57.5 billion (an increase of around 2%) while non-food sales reached $6.0 billion (an increase of about 7%).

Geographical Analysis

Rising Demand for Macadamia Nut in the Asia Pacific Region

The Asia-Pacific macadamia nut market held a significant market share of 33.4% in 2022 in the macadamia nut market analysis. This is due to the increased popularity among Asian countries coupled with growing consumer awareness of the health benefits linked to the intake of macadamia nut, it is anticipated that the macadamia nut market will have the quickest growth over the course of the projected period.

For instance, Australian macadamia farmers spend USD 2 million yearly on state-of-the-art R&D. They are also committed to safeguarding the natural resources that underpin the nation's top-notch exports. Macadamia production is increasing as a result of these efforts. The country's macadamia production reached 48,500 metric tonnes in 2021, up from 46,900 metric tonnes in 2020, according to the International Nut & Dried Fruit Council.

Competitive Landscape

The major global players in the market include Hamakua Macadamia Nut Company, MacFarms, Nambucca Macnuts, Wondaree Macadamia Nuts, Golden Macadamia, Kenya Nut Company, Ivory Macadamia, Nambucca Macnuts, Royal Macadamia Ltd, and Superior Nut Company.

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:

Covid-19 Impact:

The market was negatively impacted by COVID-19, though only slightly. Market expansion was hampered by restrictions on macadamia exports and imports caused by the closing of international borders to stop the COVID-19 disease from spreading across the globe. The market is expected to rise because of macadamia's expanding application in the pharmaceutical, cosmetic, and food and beverage sectors.

Along with the above factors, the custom of presenting macadamia nuts as gifts at Chinese New Year will also help to grow the industry. Australia ranks behind China and China as the world's third-largest consumer of macadamia nuts. The market's primary consumers of healthy snacks, children aged 12 to 19, place the most emphasis on freshness and health benefits. You may consume, cook with, or make numerous items out of fresh macadamia kernels.

Ukraine-Russia War Impact:

Throughout the world, negative effects are anticipated, particularly in Eastern Europe, the European Union, Eastern & Central Asia, and the United States. This claim has significantly disrupted trade dynamics and had a negative impact on people's lives and means of subsistence. It is anticipated that the ongoing conflict and unpredictability in Eastern Europe will negatively affect Ukraine and have severe, long-lasting impacts on Russia.

Global Recession Impact:

Over the past two years, prices have increased significantly because of the high inflation rates in developed economies around the world. It is anticipated that the aggregate purchasing power will considerably affect developing economies and is thought to be non-beneficial in many ways, including the lessened consumer consumption of macadamia nuts.

Why Purchase the Report?
• To visualize the global macadamia nut market segmentation based on type, category, application, and distribution channel, as well as understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of macadamia nut market-level with all segments.
• The PDF report consists of cogently put-together market analysis after exhaustive qualitative interviews and in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The global macadamia nut market report would provide approximately 93 tables, 109 figures and 190 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies