Macadamia Nut Market Size Worth $2.36 Billion by 2027 | CAGR

9.2%: Grand View Research, Inc

SAN FRANCISCO, July 2, 2020 /PRNewswire/ -- The global macadamia nut market size is expected to reach USD 2.36 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 9.2% from 2020 to 2027. Growing importance of on-the-go snacking options among millennials as a result of new product launches by companies and increasing awareness regarding healthy diet are expected to have a positive impact on the industry growth. Furthermore, growing popularity of tree nut as sources of dietary fiber, which helps the individuals in ensuring proper weight management, is expected to expand the market scope in the near future.

Over the past few years, manufacturers have been launching new products in order to gain a competitive edge in the market. For instance, in October 2019, Royal Hawaiian Orchards launched a salted roasted variety of macadamia nut. The product was launched in Honda Center and The Rinks' ice-skating centers and is especially targeted towards Anaheim Ducks' hockey fans. The company considers the product to evolve as a viable mid-game snack. These are rice in protein and are available around the stadium in convenient packages and various flavors. The company is known to have partnered with Anaheim Ducks. The company is taking up strategies to leverage the fact that macadamia nut make a heart healthy snack among its consumers. These products can also be found in Sierra Nevada Draught House and Wine Club.

Key suggestions from the report:

• Based on processing, the conventional segment accounted for the largest share of 80.0% in 2019. The product dominates the market as it was among the first powder variants to be introduced in the market and it enjoys the first mover advantage
• The organic processing segment is expected to register the fastest CAGR of 10.2% from 2020 to 2027. The surge in the product demand is mostly due to increasing awareness regarding the benefits pertaining to organic food
• Raw products led the market and accounted for more than 50.0% share of the global revenue in 2019. These are widely used in the food and beverage, cosmetic, and pharmaceutical industries
• Coated products are expected to register the fastest CAGR of 10.2% from 2020 to 2027. The variety has been evolving as a popular confectionary among people of all ages, especially children.

Read 80 page research report with ToC on "Macadamia Nut Market Size, Share & Trends Analysis Report By Processing (Organic, Conventional), By Product (Raw, Roasted, Coated), By Distribution Channel, By Region, And Segment Forecasts, 2020 - 2027" at: https://www.grandviewresearch.com/industry-analysis/macadamia-nut-market