IMARC Group, a leading market research company, has recently releases report titled “Walnut Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global walnut market price, growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Walnut Market?
The global walnut market size reached US$ 8.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 10.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
What are Walnut?
Walnuts are large, round, and wrinkled seeds that come from deciduous trees in the Juglandaceae family. They possess valuable qualities such as omega-3 fats, antioxidants, and essential nutrients like fiber, protein, carbohydrates, calcium, iron, sodium, phosphorus, and manganese. Their consumption can contribute to better bone and brain health, the prevention of cardiovascular ailments and cancer, reduced risk of gallbladder disease, lowered cholesterol levels, and assistance with weight management. These numerous health advantages have made walnuts a popular choice as a snack, as well as a key ingredient in baked goods. Additionally, walnut oil, an expensive culinary oil frequently used in salad dressings, is derived from walnuts.
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What are the growth prospects and trends in the walnut industry?
The market for walnuts is experiencing significant growth due to their various benefits for the skin, hair, and overall health. This surge in demand is primarily driven by the increasing preference for healthy and nutritious food products. Moreover, the food processing industry is using walnuts extensively as an ingredient in the production of nut butter, confectionery, chocolates, and bakery items, contributing to the market’s expansion.
A major contributing factor to this growth is the shift towards a healthier lifestyle in response to the high prevalence of chronic diseases like obesity, diabetes, and cardiovascular diseases. Additionally, the cosmetics and personal care industry has embraced the use of walnuts, further boosting market growth.
The popularity of walnuts in traditional sweets, savory snacks, and other ready-to-eat meals also contributes to the positive market outlook. Furthermore, the rising demand for convenient food options, increasing consumer spending power, and the emerging trend of healthy snacking are additional factors that are driving the market’s favorable prospects.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
Breakup by Product:
- Persian or English Walnut
- Black Walnut
Breakup by Nature:
Breakup by Form:
Breakup by End Use:
- Personal Care and Cosmetics
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Agromillora Group, Alpine Pacific Nut Company, Andersen and Sons Shelling Inc., Crain Walnut Shelling Inc, Empire Nut Company LLC, GoldRiver Orchards Inc., Grower Direct Nut Co. Inc., Guerra Nut Shelling Co Inc, Haleakala Walnut Shelling Inc., Kashmir Walnut Group and Poindexter Nut Company.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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