GVR Report cover Macadamia Nut Market Size, Share & Trends Report

Macadamia Nut Market Size, Share & Trends Analysis Report By Processing (Conventional, Organic), By Product (Raw, Coated, Roasted), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2021 - 2028

  • Published Date: Aug, 2021
  • Base Year for Estimate: 2020
  • Report ID: GVR-4-68038-484-0
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 81

Report Overview

The global macadamia nut market size was valued at USD 1.31 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 10.7% from 2021 to 2028. The growing public knowledge of the health advantages of nuts and dried fruits has been a key factor in the market expansion. Macadamia nuts are also used to make macadamia oil, which has become popular among both businesses and consumers. In recent years, there has been a considerable increase in global demand for healthy and nutritious snacks, particularly among the younger generation and the working-class population. People are also migrating away from non-vegetarian protein sources and moving toward plant-based protein sources.

U.S. macadamia nut market size, by processing, 2018 - 2028 (USD Billion)

Without incorporating any animal protein, macadamia nuts are the greatest way to meet one's daily protein and fat requirements. This helps customers to stick to their vegan diets while avoiding lactose discomfort. For instance, according to a poll by Beijing-based think tank EO Intelligence, up to 71% of surveyed consumers stated snacks are equally important to their physical and psychological health. Freshness and health benefits are the top priorities for almost 85% of millennials, who are the primary buyers of healthy snacks in the market.

Macadamia kernels can be consumed fresh, cooked with, or processed into a number of goods. Roasted, roasted and salted, chocolate coated, honey-roasted, and wasabi-flavored are all popular options. They are also used in biscuits, pastries, and ice cream, and they are ground into a paste and cold-pressed to produce oil. Consumers like oil-roasted macadamia nut kernels, but dry-roasted nuts are more popular because they only contain endogenous macadamia oil.

Processing Insights

The conventional segment led the market and accounted for a share of 80.4% in 2020. These macadamia nuts are budget-friendly for consumers and also much more readily available in comparison to their organic counterparts. Most small-scale domestic players produce conventional macadamia nuts and their dominance can be seen on the shelves of supermarkets and hypermarkets.

The shifting consumer preference towards healthier snacking options has been boosting the demand for conventional macadamia nuts over the world. Other than snacks, nuts have gained significant utilization in food items, such as spreads, butter, and ice cream toppings. In countries such as the U.S., Australia, and Japan, nuts are mostly used as an ingredient, whereas in Europe, they are frequently consumed as snacks. Furthermore, the growing trend of veganism is expected to have a positive impact on the market growth as macadamia nuts are a plant-based source of protein. This factor will further drive the demand for the product in the upcoming years.

Product Insights

In terms of value, raw macadamia nut dominated the market with a share of 46.3% in 2020. The health benefits of macadamia nuts are propelling their widespread adoption. Because of their high-fat content, macadamias have become increasingly popular. Macadamia nuts have the highest fat content of any nut, at 20.9 grams per pound, which is why they were once thought to be unhealthy. In actuality, the bulk of that fat is cholesterol-free and contains palmitoleic acid, which can assist your body to maintain appropriate insulin levels and enhance your metabolism.

Macadamia nuts are a popular delicacy and a trendy import in countries, like China and the United States, and are considered a high-quality dessert nut because of their rich, buttery flavor. And with countries like China planting macadamia trees, the global macadamia supply is likely to grow. By 2022, China is expected to produce half of the world's macadamia harvest.

Distribution Channel Insights                                               

The offline channel dominated the market and captured a share of 80.4% in 2020. The offline sector is booming, thanks to supermarkets' home delivery and click-and-collect services, which are luring customers to this channel. In addition, the number of convenience stores in strategic places has increased to better serve busy consumers looking for a quick bite to eat.

Global macadamia nut market share, by distribution channel, 2020 (%)

The online sector is expected to expand at the fastest growth rate of 11.6% from 2021 to 2028. Walmart, Kroger, Amazon, Alibaba Group, Instacart, FreshDirect, ShopFoodEx, Tesco, Sainsbury's, and Asda Stores Limited are just a few of the major e-commerce portals that sell macadamia nuts. Several value-added services given by e-retailers, such as discounted prices, cash-on-delivery, and cash-backs, are predicted to boost the growth of the online channel in the future years.

Regional Insights

In 2020, Asia Pacific dominated the market and held a share of 43.6%. The growing awareness of diets rich in nutrients and protein, along with the increasing inclusion of tree nuts in diets across the Asia Pacific region, is expected to drive the Asia Pacific market. The consumption of macadamia nuts has been increasing in China, Japan, Vietnam, Australia, South Korea, Malaysia, Thailand, and Singapore. This growing consumption is attributed to the increased penetration of macadamia nuts in the regular diet of the people in these countries.

North America held the second-largest share in 2020. Tree nut consumption in North America accounted for 23% of global tree nut consumption in 2018, according to the International Nut & Dried Fruit Council (INC). Furthermore, in 2019, North America accounted for 40% of global tree nut production and was the world's top tree nut producer.

After the United States, Europe is the second-largest importer of macadamia nut kernels. Europe imports roughly 30% of the total global imports. Between 2015 and 2019, the volume of macadamia nut imports into Europe increased by 2% per year on average. Developing countries account for more than half of all imports from outside Europe.

Key Companies & Market Share Insights

To achieve a competitive advantage, companies have implemented numerous growth tactics such as mergers and acquisitions, capacity expansions, online presence strengthening, and new product releases. For example, Health and Plant Protein Group Limited announced ambitions to enter the fast-growing plant-based food alternatives industry in February 2021. The company is solely focused on the production and sale of macadamia nuts and the plant-based food market as a whole in order to make a more informed investment in macadamia nuts.

The market for macadamia nuts has benefited from advances and innovative strategies. Several product debuts in recent years have broadened the industry's consumer base while also increasing market competitiveness. For instance, General Mills brand HäagenDazs produces ice cream made from macadamia nuts and has recently expanded its reach to Asia Pacific.  Some prominent players in the global macadamia nut market include:

  • Hawaiian Host Group

  • Health and Plant Protein Group Limited

  • Superior Nut Company, Inc.

  • Hamakua Macadamia Nut Company

  • North Shore Macadamia Nut Company

  • T.M. Ward Coffee Company

  • Makua Coffee

  • Macadamia.US

  • Mac's Nut Co. of Hawaii

Macadamia Nut Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 1.44 billion

Revenue forecast in 2028

USD 2.95 billion

Growth Rate

CAGR of 10.7% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Processing, product, distribution channel, region

Regional scope

North America; Europe; Asia Pacific; Rest of the World

Country scope

U.S.; Germany; China; Japan; South Korea; Australia; Brazil

Key companies profiled

Hawaiian Host Group; Health and Plant Protein Group Limited; Superior Nut Company, Inc.; Hamakua Macadamia Nut Company; North Shore Macadamia Nut Company; T.M. Ward Coffee Company; Makua Coffee; Macadamia.US; Mac's Nut Co. of Hawaii

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research has segmented the global macadamia nut market report on the basis of processing, product, distribution channel, and region:

  • Processing Outlook (Revenue, USD Million, 2016 - 2028)

    • Conventional

    • Organic

  • Product Outlook (Revenue, USD Million, 2016 - 2028)

    • Raw

    • Roasted

    • Coated

  • Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)

    • Online

    • Offline

  • Regional Outlook (Revenue, USD Million, 2016 - 2028)

    • North America

      • U.S.

    • Europe

      • Germany

    • Asia Pacific

      • China

      • Japan

      • South Korea

      • Australia

    • Rest of the World

      • Brazil 

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