Global Pecan Nuts Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Pecan Nuts Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Pecan is a tree species of hickory, native to northern Mexico and southern United States. Pecans are edible nuts that can be used as snacks and in various recipes. Pecans have the characteristics of thin shell and thick, crispy and delicious, and rich nutrition.

Market Overview:

The latest research study on the global Pecan Nuts market finds that the global Pecan Nuts market reached a value of USD 1626.14 million in 2022. It’s expected that the market will achieve USD 2495.47 million by 2028, exhibiting a CAGR of 7.4% during the forecast period.

Influence of COVID-19 Outbreak on Pecan Nuts Industry Development

As consumers change from paying attention to the taste of food to paying attention to the nutritional value of food, pecans have become the new favorite of the industry. The coronavirus hit China in January and February and disrupted China's Lunar New Year holiday, which is usually the time when pecans are imported in large quantities. During celebrations, pecans are usually provided in gift packaging. Missing the peak sales season has led to a decline in pecan sales. At the same time, global port and transportation issues caused by the coronavirus have also slowed down world trade in pecans. In addition, the pecan market is usually divided by retailers, wholesalers, and exporters. But the pandemic changed this situation. Due to export difficulties, the export volume of pecans will be affected.

At the time when production was stopped in March and April in the northern hemisphere, South America and Australia in the southern hemisphere were harvesting. The spread of the coronavirus has led to increased price and market uncertainty. COVID-19 is the biggest challenge facing hickory farmers this year. Even in the vigorous growing season from October to November, farmers still have to adapt to major changes in the nut business due to the spread of the coronavirus. Once the pecan processor's inventory rise due to the decline in downstream demand, it will lead to a decline in subsequent purchasing power.

Market Restraints Analysis

Nuts have relatively high calories. Each 100 grams of pecan nuts can produce 670 kilocalories, which is twice that of the same weight of grain. If you eat too much, you will get fat, and if you eat a lot a day, you will get fat, and it will also affect blood lipids. Therefore, take it in moderation, especially if you are trying to lose weight.

China is a big consumer of pecans and consumes a lot of pecans. In this round of US-China trade friction, China's tariffs on pecans and other nut products have also affected the export of US nuts. A large proportion of American pecans are sold to the Chinese market. Nowadays, the cost of tariffs is hitting farmers there, bringing many factors of instability to the local agricultural economy. Faced with the ongoing trade war between the United States and China, many Chinese pecan buyers have shifted their buying habits to neighboring Mexico and South Africa because of relatively low tariffs.

There are many substitutes for pecans, and the existence and development of the substitute product market will affect the pecan market. For example, pecans and walnuts are two kinds of nuts that are common in life and have high nutritional value. Walnuts can nourish the brain, and pecans have a very good therapeutic and health effect. Walnut has a higher protein content than pecans, reaching 14.9%, while pecans have only 9.5%. Walnut has higher protein content than eggs, low fat and high protein, which is one of its nutritional advantages over pecans. The vitamin E content in walnuts is also higher than pecans. However, in terms of vitamin B1 and minerals calcium and zinc, the content of pecans is higher than that of walnuts, especially the content of B1 is prominent, which is about three times that of walnuts. Although pecans and walnuts are relatively similar in terms of nutritional content and nutritional value, in terms of calories, walnuts are lower and pecans are higher. As a substitute for pecan, the development of its market will affect the pecan market.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

La Nogalera Group is one of the major players operating in the Pecan Nuts market, holding a share of 18.22% in 2020.

La Nogalera Group focuses on the acquisition, processing and sales of dried fruits, which are sold to the global market. The main product of La Nogalera Group is pecans.

National Pecan Company is North America's leading diversified and fully integrated producer, processor, and marketer of pecans.

Segmentation Overview:

Among different product types, Shelled Pecan segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Retail segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Pecan Nuts market covered in Chapter 3:

Hudson Pecan Company
South Georgia Pecan Company
Miller Pecan Company
La Nogalera Group
Golden Peanut and Tree Nuts
Lamar Pecan Company Atwell Pecan Company
Durham-Ellis Pecan Company
Chase Pecan
Pecaninis
National Pecan Company
Bergeron Pecan
Green Valley Pecan Company
Ellis Bros. Pecans Sunnyland Farms
Maco Pecan
Natchitoches Pecans
Navarro Pecan Company

In Chapter 4 and Chapter 14.2, on the basis of types, the Pecan Nuts market from 2018 to 2029 is primarily split into:

Shelled
Inshell

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Pecan Nuts market from 2018 to 2029 covers:

Bakeries
Ice Cream Makers
Mixed Nuts Companies
Dairy & Desserts Makers
Confectionery Manufacturers
Retail
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)