The latest report by IMARC, titled “Walnut Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global walnut market size reached US$ 8.0 Billion in 2022. Walnuts refer to round, single-seeded stone fruits with a wrinkly, globe-shaped hard shell husk. They are a good source of proteins, fats, fiber, antioxidants, calcium, iron, sodium, phosphorus, and manganese. They also contain healthier omega-3 fats, and advanced antioxidant activity than other nuts. Some of the health benefits offered by walnuts include improved heart and bone health, help in weight management, reduced bad LDL cholesterol and inflammation, minimized the risk of gallbladder disease, and skin and hair benefits. In recent years, walnuts have gained traction due to their extensive employment in bakery products, production of walnut oil, and as a culinary oil used for salad dressings.
Global Walnut Market Trends:
One of the primary factors driving the market is the shifting consumer preferences toward a healthy lifestyle. Additionally, the extensive utilization of walnuts for their nutritional value in the cosmetics and personal care industries is creating a positive market outlook. Other than this, the constant rise in the need for convenience foods is escalating the demand for walnuts as they are widely used in the food processing industry to produce confectionary, bakery, chocolate, nut butter, and similar processed products. In line with this, there has been an emerging trend of healthy snacking due to the high prevalence of chronic diseases, such as obesity, diabetes, and cardiovascular diseases (CVDs). This, in confluence with the growing awareness regarding the high nutritional content and health benefits of walnuts, is accelerating the product sales. Furthermore, increasing product usage in savory items, traditional sweets, and other ready-to-eat (RTE) meal and inflating consumer expenditure capacities are propelling the market growth. Looking forward, IMARC Group expects the market value to reach US$ 10.7 Billion by 2028, expanding at a CAGR of 4.9% during the forecast period (2023-2028).
- Based on the type, the market has been bifurcated into in-shell and shelled.
- On the basis of the product, the market has been divided into Persian or English walnut and black walnut.
- Based on the nature, the market has been segmented into organic and conventional.
- On the basis of the form, the market has been segregated into raw and processed.
- Based on the end use, the market has been categorized into household, industrial, personal care and cosmetics, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being 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.
|Base Year of the Analysis
||Type, Product, Nature, Form, End Use, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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.
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