LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global macadamia market provides an analysis on 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 research study by Technavio on the global macadamia market for 2017-2021 provides a detailed industry analysis based on the application (food and beverage industry; and cosmetics and personal care industry), distribution channel (supermarkets and hypermarkets, health food stores, and convenience stores), and geography (APAC, the Americas, and EMEA).
Macadamia belongs to a plant family Proteaceae, and are commercially used as nuts. It is native to northeastern New South Wales and central and south-eastern Queensland. Technavio analysts forecast the global macadamia market to grow to 57,881 metric tons by 2021, at a CAGR of more than 3% over the forecast period.
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The top three emerging trends driving the global macadamia market according to Technavio food and beverage research analysts are:
- Increasing strategic alliances
- Growing focus on using macadamia for energy production
- Increasing demand from Asian markets
Increasing strategic alliances
“Consolidation of companies and formation of partnerships is creating a strong future for the market, with the partnered companies being able to utilize the expertise of all the partners involved,” says Akash Pandey, a lead analyst at Technavio for food research.
For instance, North Coast Local Land Services and the Australian Macadamia Society signed a partnership agreement to support the production of macadamia in the North Coast of New South Wales, Australia. This agreement ensures that macadamia farmers have access to the best information and all the details that they require for developing their business and the North Coast economy.
Growing focus on using macadamia for energy production
Macadamia shells can be used to make briquettes as these are active carbon sources. When the shell briquettes are burnt at high temperature, carbon and charcoal are formed. Also, the surface of these shells is highly porous, making them suitable for air and water purification. A company called Royal Macadamia has introduced biodiesel, cattle feed, and material for compost derived from macadamia. It is also possible to use macadamia shells in powdered form as a compost as they contain nutrients and minerals, which are essential for the soil. The wide array of energy applications of macadamia is resulting in its rising adoption.
Increasing demand from Asian markets
The Asian marketspace presents a strong potential market for macadamias, as there is a strong demand for these products in the region. The demand is much greater than the supply, providing vendors a very good opportunity to increase market penetration and shares. Asian nations are not only keen on consuming macadamia nuts but are also seeking Australia’s expertise to produce macadamia.
“Countries such as China, South Korea, and Taiwan associate macadamia consumption and usage with beauty and health. Macadamia also has a strong demand in the Japanese market as they consider premium food products as an attractive gift for friends and families,” says Akash.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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