Macadamia Nuts Market Growth, New Trends, Current Industry Demand Forecast To 2023
Macadamia nuts, also known as Queensland nuts, bopple nuts, bauple nuts, and Australian nuts, belong to the proteaceae family. Macadamia kernels are used in many food and personal care products which is expected to boost the demand for macadamia nuts market in the future.
The personal care segment is anticipated to exhibit the highest CAGR during the forecast period. There has been a significant increase in demand for Macadamia Nuts Market in haircare products as they make the texture of hair softer and moisturize the scalp. Macadamia nuts are also enriched with vitamins such as thiamine (B1), riboflavin (B2), retinol (A1), and niacin (B3), which help in maintaining skin health.
Some of the key players in the global macadamia nuts market are-
- Alimentos Selectos S.A. (Guatemala)
- Hamakua Macadamia Nut Co Inc. (US)
- Royal Macadamia (Pty) Ltd (South Africa)
- Golden Macadamias (South Africa)
- Kenya Nut Company Ltd (Kenya)
- Mauna Loa Macadamia Nut Corp (US)
- MacFarms (US)
- Nambucca Macnuts Pty Ltd (US)
- MWT Foods Australia (Australia)
- Wondaree Macadamias (Australia)
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The global macadamia nuts market has been segmented based on type, category, and application.
Based on type, the global macadamia nuts market has been segmented into whole, halves, whole and half blends, chips, and others. The whole segment is expected to account for the largest market share during the forecast period. Whole macadamia nuts are widely available and used in various food items such as chocolates, biscuits, and cakes, and ice cream. The segment is also expected to register the highest growth rate owing to the increasing awareness about the versatility of macadamias in the food & beverage and personal care industries.
The global macadamia nuts market has been classified, by category, as organic and conventional. The conventional segment is expected to be the larger market owing to the easy availability and lower prices of conventional macadamia nuts as compared to organically grown nuts. However, the organic segment is projected to register the higher CAGR during the forecast period due to the rising inclination of consumers for organic products.
The global macadamia nuts market has been segmented, by application, into food & beverage, personal care, and others. The food & beverage segment is projected to account for the largest share of the global macadamia nuts market due to the widespread use of macadamia nuts in the bakery and confectionery, dairy and frozen desserts, and culinary segments, among others. Additionally, there is an increasing demand for macadamia oil in cosmetics and personal care products such as lotions, shampoos, and moisturizers for the natural antioxidant properties and high levels of palmitoleic acid.
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The Global Macadamia Nuts Market has been segmented, based on region, into North America, Europe, Asia-Pacific, the rest of the world.
Asia-Pacific is expected to dominate the global macadamia nuts market owing to the large-scale consumption of macadamia nuts in the region. China, New Zealand, and Australia are major consumers of macadamia nuts, which find application in various regional food preparations.
The market in North America is expected to grow at the fastest pace due to the rising consumption of macadamia nuts in the region.
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