Macadamia Market

Macadamia Market Size, Growth, Forecast (2023-2028)

The Global Macadamia Market size was US$ 1.31 billion in 2022 and is anticipated to succeed in the valuation of US$ 2.65 billion in 2028 and is predicted to register a CAGR of 11.2% during 2023-2028.

Macadamia Market Scenario:

The fruit of the macadamia tree, which belongs to the Proteaceae family's genus macadamia, is macadamia nuts. Only three species of Macadamia integrifolia, macadamia tenuifolia, and macadamia tetraphilla are commercially important. Originally from Australia, macadamia nuts are now cultivated all over the world.

Fresh macadamia nuts can be eaten, cooked and make into a variety of products. Popular flavours include roasted, roasted and salted. Chocolate-coated, honey-baked, and wasabi-flavoured. They are also pureed into a paste and cold pressed to make the oils used in cookies, pastries, and ice cream. Oil-roasted macadamia nuts are popular, but dry roasted nuts are preferred because they contain solely endogenous macadamia oil.

Recent Developments Macadamia Industry:

• TOMRA Food's latest sorting technologies are being acquired by Golden Macadamias, the world's largest macadamia processor, in order to secure its competitive advantage in the future.
• Ivory Macadamias Starts Napasol Pasteurizer Operation for Incoming 2021 South African Macadamia Crop - Ivory Macadamias is processing the 2021 macadamia crop in their Low's Creek factory in Mpumalanga on their new Napasol pasteurization line. Pasteurization enables the company to supply quality pasteurized macadamias on a consistent basis while meeting the stringent food safety standards of highly regulated global markets.

REPORT COVERAGE:

Macadamia Market Drivers:

The organic food industry has been widely accepted and demand in recent years. The industry is expected to experience high growth over the next few years. In a growing region like India, a remarkable growth trajectory is expected. The macadamia market forms an important part of this sector and is expected to continue to grow over the next few years.

Also, Due to the social demands of people to take care of their physical appearance, the world's population is becoming more and more aware of fitness. Therefore, the fast-food trend is being replaced by balanced, well-designed diet that incorporates natural ingredients into the mix. The Fitness clubs advocates such diet and seeks more organic additives in the daily diet. Over the next five years, the global fitness industry is expected to grow significantly. This will bring about the accompanying growth of the macadamia market.

Macadamia Market Restraints:

Suitable climatic conditions for macadamia production can limit its growth to specific areas, thereby limiting the macadamia market. Higher daytime temperatures above 30 degrees Celsius are already associated with excessive water loss from the macadamia plants. This loss of water results in a unbalanced supply of nutrients within the macadamia nuts, limiting oil accumulation and adversely affecting the nut quality.

Increased crop losses, especially in the developing countries, have also led to fluctuations in the supply of macadamia nuts. This also led to higher for macadamia nuts. This is one of the main factors presumed to slow the growth of the macadamia market.

Macadamia Market Segmentation Analysis:

By Product Type:

• Raw
• Roasted
• Coated

Based on Product Type, the raw segment had the largest share in 2021 due to its cost efficiency. Raw macadamia is widely used in skin rejuvenation and the preparation of moisturizing products and is also an important ingredient in a variety of dishes. Increasing demand for raw macadamia in the food and beverage industry is driving market growth. The coated segment is considered to be the fastest growing segment with a CAGR of 9.7% over the forecast period 2022-2027. This is due to the growing demand for coated macadamia with chocolate, honey and caramel products.

By Form:

• Original Form
• Salt-Baked Form
• Creamy/Powder Form

Based on the foam, the market is divided into original foam, salt baked foam and creamy / powder foam. The original form will have the largest market share in 2021 and is projected to grow at the highest CAGR of 10.60% over the forecast period. It is the leading cause of death for both women and men, causing about 610,000 deaths each year. Studies have shown that ingesting nuts such as macadamia nuts can reduce risk factors for heart disease and ultimately stimulate demand for the product. In addition, according to reliable sources, about 34 percent of adults in the United States suffer from metabolic syndrome, according to the American Heart Association. Prices are rising all over the world. Taking macadamia nuts can help improve metabolic syndrome. Helps reduce diabetes, prevent cancer, protect the brain and prevent weight gain. Therefore, the growing benefits and benefits of these products can boost product sales and ultimately help boost market growth.

By Application:

• Food and Beverage Industry
• Cosmetics and Personal Care Industry
• Others

Based on the application, the global macadamia market is divided into food and beverages, cosmetics and personal care, and more. The food and beverage industry has the largest market share and is expected to grow at the highest CAGR of 10.88% during the forecast period. Macadamia contains many nutrients such as antioxidants, unsaturated fats, vitamins, fibres and minerals that can have a positive effect on cholesterol levels and, as a result, reduce the risk of cardiovascular disease. In recent years, the global demand for nutritious and healthy snacks has increased significantly, especially among the working class and the younger generation. People are moving from non-vegetable protein sources to plant-based protein sources.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Macadamia Market Regional Analysis:

Geographically, the Global Macadamia Market can be divided into North America, Asia-Pacific, Europe, and the Rest of the World (ROW). Asia-Pacific held the largest share of 32.4% of market in 2021. This segment is expanding due to factors such as a growing desire for healthier lifestyles, an increase in macadamia consumption in countries such as China, Japan, and South Korea, and an increase in demand for natural products. Increasing demand for macadamia in the region's cosmetics industry is driving market growth. Europe is the fastest due to factors such as increased investment from major companies, increased government initiatives, increased awareness of the health benefits of nuts and dried fruits, and increased demand for macadamia in the food and beverage industry. It is considered a growing segment.

Key Players in the Market:

Major Key Players in the Global Macadamia Market are

• Buderim Group Limited
• Hamakua Macadamia Nut Company
• Hawaiian Macadamia Nut Orchards
• North Shore Macadamia Nut Company
• Makua Coffee
• T.M. WARD COFFEE COMPANY
• MacFarms
• Nambucca Macnuts Ltd
• Kenya Nut Company Ltd