DUBLIN--(BUSINESS WIRE)--The "Walnut Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The Global Walnut Market is projected to register a CAGR of 6% over the forecast period (2019-2024).
Due to the high amount of nutritional content and health benefits, walnuts are considered to be one of the most important species of tree nuts and are consumed worldwide. They help heart function, bones health, and skeletal system and contain a number of neuroprotective compounds, including vitamin E, folate, melatonin, omega-3 fats, and antioxidants.
- The production of walnuts in China is estimated to be around 850,000 metric ton in 2018. The production is estimated to lower by 15%, due to the effects of the previous year's damage caused by frost. Adequate stocks in the country and high international walnut prices are expected to affect the demand for walnuts in China during 2018-2019, which is expected to keep the imports lower.
- China and the United States are projected to dominate the walnut market, both in terms of production and consumption, globally, over the forecast period.
- It is estimated that close to 50% of the walnuts produced worldwide moves into retail consumption while usage in the food processing industry as an ingredient in the manufacture of nut butter, bakery products, confectionery, and other similar products constitutes 42%.
Key Market Trends
Increasing Demand in the Food Processing Industry
The percentage of globally traded walnuts consumed as an ingredient in industries such as bakery, confectionery, chocolate, nut butter, and similar processed products. Due to its nutritional benefits, walnuts also find their way into beef jerky snacks, ready-to-eat meals, and other products. Apart from the bakery items, walnuts are being incorporated in the savory dishes, traditional sweets, and in the local restaurants.
The versatility of walnuts as an ingredient has been enhanced over the past few years with the increasing international trade of walnuts as a commodity. This is evident as consumers are using walnuts in beverages, breakfast cereals, and in-home baking. It has been estimated that close to 60% of the walnuts consumed by the global food industry moves into the confectionary channel.
Increasing Walnut Consumption in the Asia-Pacific Region
The Asia Pacific region contributes almost 36% of the global consumption of walnuts. The value of walnuts consumed in the regions stood at 2.73 billion in the year 2018. Walnut consumption in the region is dominated by the consumption of China. The per capita consumption of walnuts, by China, is also increasing yearly and has shown a growth of 10.5 times in the past 21 years.
Mostly, the demand is met through domestic production, while the baking and processed food sectors account nearly half of the walnuts consumed in the country. The snacking industry consumes bulk of the total walnuts, which is expected to further increase, during the forecast period.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
4.4.1 Value Chain Overview
4.4.2 Price Markups in the Value Chain
4.4.3 Stakeholders in the Value Chain
4.5 Commodity Grade Analysis
5 MARKET SEGMENTATION
5.1.1 North America
188.8.131.52 United States
184.108.40.206.1 Production Analysis
220.127.116.11.2 Consumption Analysis and Market Value
18.104.22.168.3 Trade Analysis by Volume and Value
22.214.171.124.4 Price Trend Analysis
5.1.3 Asia Pacific
5.1.4 South America
5.1.5 Middle East and Africa
6 PROCUREMENT REFERENCE MATRIX
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/1yq3wr