Pecans Market

Market Overview:

The global pecans market size reached US$ 2.24 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.02 Billion by 2028, exhibiting a growth rate (CAGR) of 5.00% during 2023-2028. The surging product demand due to its rich nutritional content, the rising adoption of plant-based and vegan diets, and the widespread utilization in numerous culinary applications represent some of the key factors driving the market.

Pecans are nuts highly valued for their rich, buttery flavor and crunchy texture. They are botanically classified as a species of hickory tree, scientifically known as Carya illinoinensis. Pecans are widely cultivated in the southern United States, particularly in states such as Texas, Georgia, and Louisiana. They are an excellent source of healthy monounsaturated fats, which have been linked to heart health and lowering bad cholesterol levels. Pecans also contain numerous vitamins and minerals, including vitamin E, magnesium, zinc, and fiber. They can be eaten raw, roasted, or used as an ingredient in sweet and savory dishes, such as pecan pie, cookies, and pralines. In addition to this, they can be added as toppings for salads, oatmeal, and roasted vegetables.

Pecans Market Trends:

The escalating consumer awareness of the health benefits of pecans and their rich nutritional content of healthy fats, vitamins, minerals, and antioxidants represents the prime factor driving the market growth. Besides this, the shifting preference for plant-based diets and veganism among consumers and the rising demand for natural and healthier snack options are creating a favorable outlook for the market. Moreover, pecans are used in a wide range of culinary applications, including baking and cooking, which is presenting remunerative growth opportunities for the market. In line with this, the expanding offering of pecan-based cakes, pies, pralines, and brittles across restaurants, bakeries, and cafes is acting as a significant growth-inducing factor. In addition to this, the effortless product supply and easy accessibility through various retail channels, including supermarkets, convenience stores, and online platforms, are strengthening the market growth. Concurrent with this, the globalization of the food industry and the expansion of international trade and export opportunities are contributing to the market growth. Furthermore, the implementation of supportive government policies, subsidies, and initiatives aimed at promoting agriculture, combined with the rising population, changing dietary preferences, and the inflating disposable income of individuals, are positively impacting the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global pecans market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on type and application.

Type Insights:

• Raw
• Processed
• Others
   

The report has provided a detailed breakup and analysis of the pecans market based on the type. This includes raw, processed, and others. According to the report, raw represented the largest segment.

Application Insights:

• Household
• Commercial
• Food Industry
• Cosmetic and Personal Care
• Others
   

A detailed breakup and analysis of the pecans market based on the application has also been provided in the report. This includes household, commercial, food industry, cosmetic and personal care, and others. According to the report, food industry accounted for the largest market share.

Regional Insights:

• 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
   

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, North America was the largest market for pecans. Some of the factors driving the North America pecans market included the rising demand for natural and healthy snacks, the emerging trends of veganism, and the product’s expanding culinary applications.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global pecans market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Debbie Roy Brokerage Company Inc., Diamond Foods LLC (Blue Road Capital), Durden Pecan Co, Ellis Bros. Pecans Inc., Guidry Organic Farms L.L.C., Hudson Pecan Co. Inc., John B. Sanfilippo And Son, Lamar Pecan Company LLC, Merritt Pecan Company Inc, Royalty Pecan Farms LLC, The Alabama Pecan Company LLC, The Great San Saba River Pecan Company Inc (Chase Farms), Whaley Pecan Company Inc., and Wharton Ranch Inc.,etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

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

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the pecans market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global pecans 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 pecans industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.