Pecan Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Pecan Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The global pecan market is forecasted to expand at a CAGR of 7.2% from 2024 to 2031, growing from a valuation of US$ 2.01 Bn in 2024 to approximately US$ 3.28 Bn by the end of the forecast period. This growth is driven by increasing consumer demand for pecan-based snacks and confectionery, expanding popularity in non-traditional markets, and rising adoption of direct-to-consumer (D2C) models.

Pecan has become a preferred snack option in markets such as the U.S., Canada, Mexico, and Western Europe due to its nutty flavor and health benefits. In addition, the emergence of new snacking categories—such as salted, BBQ, and glazed pecans—has further fueled consumer interest. The pecan is also gaining traction in the confectionery sector, with pecan-based treats like pecan pralines, pecan candies, and milk chocolate pecans rising in popularity.

Drivers of Market Growth
• Diverse Snacking Options: Pecan snack varieties have expanded, offering consumers options such as roasted, maple-glazed, and butter-roasted pecans. The versatility of pecan in both snack and confectionery categories supports its increased consumption.
• Direct-to-Consumer (D2C) Model: The D2C approach has empowered pecan producers with valuable consumer insights, helping brands foster a direct relationship with end consumers and tailor products to meet specific market demands.
• Growing ‘Snackification’ Trend: Consumers are increasingly replacing meals with nutritious snacks, creating demand for pecans as a plant-based source of protein, vitamins, and minerals. The trend aligns with the ‘snackification’ shift, furthering the appeal of pecan as a healthy snack choice.
• Pecan-Centric Campaigns: Campaigns like ""Pecan, More than Pie"" have shifted consumer perceptions of pecans beyond their traditional pie association, positioning pecans as versatile ingredients in confectionery, snacks, and more.
• Keto Diet Influence: Pecans have gained popularity within the keto diet community due to their low carbohydrate and high fat content, positioning them as an ideal component in ketogenic meal planning.

Business Opportunity

The global expansion of the pecan market has been significantly influenced by increasing exports. Countries like China and ASEAN nations are rapidly adopting pecan-based products, driving demand for in-shell pecans. For instance, U.S. exports have risen by 28% since 2013, with ASEAN nations exhibiting a remarkable 170% increase. In Europe, demand for shelled pecans has surged, with high import rates from countries like the Netherlands and the U.K. This trend has encouraged producers, particularly in the U.S., Mexico, South Africa, and Australia, to expand production capacities.

Regional Insights
• United States: The U.S. dominates the global pecan supply chain, contributing to 70-80% of the global production and expected to reach a valuation of around US$ 891.5 Mn in 2024, holding a significant market share.
• China and ASEAN: Demand for pecans is accelerating in non-traditional markets, including China and ASEAN countries, where pecans are increasingly imported, with producers focusing on these regions to leverage growth opportunities.
• Europe: Shelled pecans are experiencing heightened demand in Western European nations like the Netherlands and the U.K., where consumption continues to increase in both retail and foodservice channels.

Key Market Players

The global pecan market is led by numerous multinational corporations that account for 40-45% of the market share. Companies like The Kraft Heinz Company, John B. Sanfilippo & Son, Inc., and Diamond Foods, Inc. are leveraging their strong brand presence to meet increasing global demand. Additional players, such as Royalty Pecan Farms, Farmers Investment Co., and Sahale Snacks, Inc., continue to innovate with new product offerings and direct-to-consumer strategies to maintain market momentum.

Other Notable Companies Include:
• Golden Peanut and Tree Nut
• New Aces Pecan Company LLC
• Navarro Pecan Company Inc.
• Stahmann Farms Enterprises Pty Ltd.
• South Georgia Pecan

Pecan Market Segmentation

By Product Type:
• In-shell
• Shelled

By Form:
• Raw/Whole
• Processed

By End Use:
• Food Industry
Bakery & Confectionery
Snacks & Meals
Dairy & Desserts
Beverages
• Dietary Supplements
• Cosmetics & Personal Care
• Retail/Households

By Distribution Channel:
• Business to Business
• Business to Consumer
Hypermarkets/Supermarkets
Convenience Stores
Specialty Retail
Online Retail

By Region:
• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• Middle East & Africa

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