LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global pistachio market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global pistachio market is expected to grow at a CAGR of more than 5% during the forecast period. The growth of the market is indicative of the increasing awareness with respect to the health benefits of nuts.
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The top three emerging market trends driving the global pistachio market according to Technavio research analysts are:
- Surge in demand for organic snacks
- Growing use of pistachio as a flavoring agent
- Trend of cross purchase by nut buyers
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Surge in demand for organic snacks
There has been an increase in the incidence of diseases caused due to ignorance of food safety and unhealthy eating. People are focusing more on healthy eating these days to prevent health issues such as obesity, high cholesterol, and food poisoning.
According to Manjunath Reddy, a lead analyst at Technavio for food research, “There is an increasing awareness of the presence of toxins in food items due to the use of chemical fertilizers and pesticides during farming. These toxins are harmful to the human body. Hence, people are now demanding organic food items whether they are fruits, vegetables, or nuts. Since pistachio is consumed as a snack and is also used in the food-processing industries, its organic variety is in high demand.”
Growing use of pistachio as a flavoring agent
Pistachio is one of the most famous flavors in the food items, especially desserts. This is due to the subtle and unique flavor of pistachio. They are not only included in bakery products like cookies, biscuits, or cakes but are also included in frozen foods. In the food-processing industry, restaurants and food joints widely use pistachios in desserts.
Now culinary experts are experimenting with pistachio as one of the main ingredients in food items like appetizers, soups, and main course dishes. Pistachio, apart from giving a good flavor, also lends its unique color to food preparations.
Trend of cross purchase by nut buyers
There has been an increase in the purchase of nuts as people have become more health conscious. People are now consuming nuts as snacks during small breaks, instead of unhealthy and junk food. People visiting the stores, especially hypermarkets, supermarkets, or specialty stores, often cross-purchase commodities of similar type, industry, or purpose.
Similar is the case with nuts. People go to the store to purchase one kind of nut for snacking and end up buying other nuts with similar or other health benefits. This case is most frequent with almond and pistachio. Almond being one of the most consumed nuts worldwide is one of the cross purchases for pistachio. People going to purchase almonds are one of the major buyers of pistachio.
“Pistachio is one of the healthiest snacks with low-fat content as compared with other nuts, and it is loaded with vitamins and essential minerals that are needed by the body. Roasted pistachio seasoned with salt is a popular snack item often purchased along with other nuts or snack items,” says Manjunath.
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