Chestnut Market

Chestnut Market Size:

The global chestnut market size reached US$ 3.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.9 Billion by 2032, exhibiting a growth rate (CAGR) of 3.22% during 2024-2032. The chestnut market is driven by its culinary versatility, expanding global trade, and a shift towards sustainable and organic farming practices, catering to health-conscious consumers and environmentally aware markets, promoting global chestnut demand and production.

Chestnut Market Analysis:

• Major Market Drivers: Increased culinary uses of chestnuts and their health benefits are primary drivers of the market. Additionally, advancements in agricultural practices and export expansion are catalyzing market growth.
• Key Market Trends: There is a notable trend towards organic and sustainable chestnut farming, meeting the consumer demand for eco-friendly and healthy products. The market is also seeing innovations in processing and storage technologies that enhance product quality and shelf life.
• Geographical Trends: According to the chestnut market outlook, Asia Pacific dominates the market with high production volumes, particularly in China, while Europe maintains a steady demand driven by traditional uses in local cuisines. North America is seeing growing interest due to dietary diversification and health awareness.
• Competitive Landscape: Some of the major market players in the chestnut industry include Chengde Shenli Food Co. Ltd., Chestnut Growers Inc., Qinhuangdao Yanshan Chestnut Food Co. Ltd., Roland Foods LLC, Royal Nut Company, Shandong Maria Food Co. Ltd, Shandong Zhifeng Foodstuffs Co. Ltd, V. Besana Spa, etc, among many others.
• Challenges and Opportunities: The challenges include fluctuating production volumes due to climate variability and market access issues in non-producing regions. However, these challenges present the chestnut market with recent opportunities for innovation in cultivation techniques and global market penetration strategies.

Chestnut Market Trends:

Increasing Demand in Culinary Applications

Chestnuts' ability to be used in various types of food is a key reason for their popularity. As a main part of many traditional foods, and as a popular seasonal treat, chestnuts are used in numerous ways, from roasted snacks to the vital ingredients of luxury dishes, to desserts. Their delicate, sweet taste and soft texture make them preferred for both vegan and non-vegan recipes, hence increasing their demand in different eating cultures. Furthermore, chestnuts are a source of fiber, vitamins, and minerals, with the added advantage of being gluten-free, making them suitable for a variety of health-conscious individuals. With the trend of healthy eating becoming increasingly popular, chestnut's nutritional profile becomes a powerful marketing card, which contributes to the growth in their demand all over the world.

Expansion of Export Markets

The chestnut market has experienced outstanding growth through export diversification. Various countries, the largest being China, Italy, and South Korea have been gaining popularity in the international market due to innovations in storage and transportation technologies that keep the quality of the chestnuts intact for a long time. These chestnut market developments on the other hand have contributed a lot to stabilizing the market, ultimately leading to more confidence among the traders abroad when dealing with chestnuts. Moreover, trade agreements and the elimination of tariffs allows suppliers and key players to gain access to foreign markets, especially in North America and Europe. This expansion not only increases the volume of chestnuts traded but also contributes towards stabilizing the global supply and prices thus benefiting producers and exporters.

The Sustainable and Organic Farming Methods

As per the chestnut market report, the trends for eco-friendly and organic farming techniques is an increasing factor in market dynamics in the chestnut industry. In line with the rising environmental and health consciousness of consumers, there is a trend observed in the increasing preference for chestnuts that come from farms that employ biological methods rather than chemical ones. Organic chestnuts are typically considered safer and of better quality, thus developing a premium consumer segment whose members are ready to pay higher prices to purchase products that correspond with their environmental and health values. This trend is reinforced by both national and international not-for-profit organizations helping to develop sustainable agriculture, which includes subsidies and awards for organic farming. Such policies not only increase the demand for organic chestnuts but also motivate commercial farmers to incorporate sustainable methods, leading to the overall expansion of the market. For instance, Global chestnut production totals approximately 2.353 Tg, with China leading at 1.965 Tg, followed by Bolivia (84.01 Gg), Turkey (63.58 Gg), the Republic of Korea (53.384 Gg), and Italy (53.28 Gg) according to FAOSTAT (2020). Although several studies have examined chestnut composition and health benefits, there's a gap in comprehensive reviews on recent advancements in chestnut quality assessment. This research aims to address this by focusing on nutritional characteristics, health benefits, and the effects of processing on chestnut shelf life, providing insights into improving quality and sustainability.

Chestnut Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on species type and distribution.

Breakup by Species Type:

• American Chestnut
• Chinese Chestnut
• European Chestnut
• Japanese Chestnut
   

Chinese chestnut accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the species type. This includes American chestnut, Chinese chestnut, European chestnut, and Japanese chestnut. According to the report, Chinese chestnut represented the largest segment.

According to the chestnut market overview, Chinese chestnut type continues to be the largest share of the world market as a light-yielding and hardy one, which attracts many producers. This species, known to have originated in China and East Asia, has got a lot of cultivation credit, due to its adaptability to different climates and soil types which is a reason for its widespread planting throughout the continents. The Chinese chestnut stands out for its sweet, nutty taste and large size that meet both fresh eating and industrial applications like flour and pastes. Additionally, this species is resistant to chestnut blight, a fungal disease that has swept across other species and given it an outstanding advantage in the global agriculture industry. The Chinese nut represents one of the best international trading commodities with several favorable growing conditions in the market enhanced further by both the incorporation of Asian traditional cuisine and the increasing popularity of the produce in the Western markets.

Breakup by Distribution:

• Food and Beverage Industry
• Food Service
• Retail
• Others
   

A detailed breakup and analysis of the market based on the distribution have also been provided in the report. This includes food and beverage industry, food service, retail, and others.

Breakup by Region: 

• North America 
  • United States 
  • Canada 
• Europe 
  • Germany 
  • France 
  • United Kingdom 
  • Italy 
  • Spain 
  • Others 
• Asia Pacific 
  • China 
  • Japan 
  • India 
  • South Korea 
  • Australia 
  • Indonesia 
  • Others 
• Latin America 
  • Brazil 
  • Mexico 
  • Others 
• Middle East and Africa 
   

Asia Pacific leads the market, accounting for the largest chestnut market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific represents the largest regional market for chestnut.

The Asian-Pacific region is the leading producer of chestnut and most importantly due to the huge number of consumers Asian countries like China South Korea and Japan have. China as the largest producer and consumer remains a major player who uses chestnuts, authentic fruits of the country, in cooking different traditional dishes and snacks. According to the chestnut market forecast, the region has a favorable climate for chestnut growth and a long history of respect for the fruit. This gives rise to a resilient domestic market that is also a major exporter. Innovation in cultivation methods and postharvest technologies are among the things that support market expansion. In addition, the burgeoning middle class in these regions is increasingly embracing healthy lifestyles, propelling the need for nutritious foods like chestnuts. Therefore, Asia Pacific not only features advanced production but also holds considerable positions in terms of chestnut market trends.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major chestnut companies have also been provided. Some of the major market players in the chestnut industry include:

• Chengde Shenli Food Co. Ltd.
• Chestnut Growers Inc.
• Qinhuangdao Yanshan Chestnut Food Co. Ltd.
• Roland Foods LLC
• Royal Nut Company.
• Shandong Maria Food Co. Ltd
• Shandong Zhifeng Foodstuffs Co. Ltd
• Besana Spa
   

Major players of the chestnut market are working out strategies for gaining higher chestnut market revenue and upgrading their technologies and products to gain higher demand. High-ranked producers commit to the development of better storage and process technologies for the sake of endless shelf life and perfect fruits. In addition, they're supporting the development of sustainable and organic agroecological practices to satisfy the needs of their customers for environmentally friendly and healthy products. Furthermore, cooperation and mergers & acquisitions are also frequent as achieving a strong supply chain and entering new markets have become so important for corporations. Marketing strategies are now targeting the nutritional importance of chestnuts, by promoting it in existing and developing markets for future chestnut market growth.

Chestnut Market News:

• On August 22, 2023, Roland Foods acquired IfiGourmet, which will merge with its sweets division, AUI Fine Foods; owner and CEO Rick Brownstein remains, citing the merger's potential to enhance resources and relationships for growth.
• On July 21, 2021, Besana Group formed a strategic partnership with Spain's Importaco to strengthen its position as a European leader in the nut and dried fruit sector, leveraging shared values in quality, efficiency, and customer focus through a joint network of factories.

Chestnut Market Report Scope:

Key Questions Answered in This Report:

• How has the global chestnut market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global chestnut market?
• What is the impact of each driver, restraint, and opportunity on the global chestnut market?
• What are the key regional markets?
• Which countries represent the most attractive chestnut market?
• What is the breakup of the market based on the species type?
• Which is the most attractive species type in the chestnut market?
• What is the breakup of the market based on the distribution?
• Which is the most attractive distribution in the chestnut market?
• What is the breakup of the market based on the region?
• Which is the most attractive region in the chestnut market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global chestnut market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the chestnut market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global chestnut market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the chestnut industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.