The global macadamia market was valued at USD 2,259.4 Million in 2019 and is projected to reach USD 3,525.1 Million by 2027, expanding at a CAGR of 6.3% during the forecast period. Demand for raw macadamia nuts is high, as they are rich in fibers, minerals, vitamins, antioxidants, and healthy fats. Consumption of these nuts helps protect the heart from cardiovascular diseases, metabolic syndromes, and diabetes, improve gut health, and help in weight loss. The demand for macadamia oil is increasing in the cosmetic industry, as they help moisturize the hair and skin making them smooth. In the food & beverage industry, macadamia nuts are widely used in dairy and confectionery products. Macadamia are consumed in various forms such as dry nuts, flour, chocolate covered nuts, salted nuts, and roasted nuts. They nut are compliment savory and sweet foods, as they have a mellow flavor. The use of these nuts is substantially increasing in energy bars and cereals due to their health benefits and unique taste. According to the Brain Loader, CEO Green & Gold Macadamia “The smooth and buttery texture of macadamias is entirely unique – macadamias don't have a gritty mouthfeel like other nuts. This means it complements chocolate, ice-cream and the dough in baked goods very well.
Macadamia nuts are preferred by consumers due to their crunchy texture, versatility, and flavor. According to nutritional experts and doctors, a handful of macadamias nuts need to be consumed in the daily diet, as they have a healthy nutrition profile. Furthermore, macadamias nuts are considered have 68% to 79% oil content, which can be extracted from the kernels. The oil from the macadamias are a natural source of palmitoleic acid (omega-7), which have cosmetic and nutritional properties.
Macadamia nuts are used in desserts & ice-creams, main meals, in breakfast topping, and in snacks. These nuts can be used as an ingredient in a variety of dishes such as casseroles, roasts, salads, ice cream, desserts, and cakes. Macadamia contains a range of nutrients such as minerals, vitamins, fibers, antioxidants, and monounsaturated fats, which help reduce the risk of cardiovascular diseases (CVDs) and are beneficially to maintain a healthy cholesterol level in the body. Consuming macadamias in snacks helps in the addition of essential nutrients in the diet.
Consumers are increasingly demanding healthy fats, which is likely to be a long-term shift observed in the food industry. Manufactures are planning to make significant investments in promoting macadamia as an ingredient in the manufacturing of confectionery items such as biscuits and sweets to cater to the growing demand for healthier foods. Macadamia is increasingly used in desserts, cookies, chocolates, cakes, and various other confectionery products as it is highly nutritive.
Growth in the use of macadamia in the cosmetic industry
Rise in demand for macadamia oil from the cosmetic industry is anticipated to drive the growth of the market. Macadamia oil provides nutrition to the hair and skin, which increases its use in the manufacturing of natural and organic cosmetic products. The oil has high oleic and palmitoleic acid content, which makes it ideal for formulating sun care creams, body lotions, and anti-aging creams.
High demand for fast, healthy and convenient food is boosting the need for macadamia nuts
People are getting busier; therefore, the demand for healthy, convenient, and fast-food options is growing. The ‘snackification’ of nuts is not new trend among consumers. Companies are engaging in product innovations within this sector for sophisticated and niche products, such as cheese, yogurts, and nut butters, to cater to the demand for healthy and tasty snacks by busy and conscious consumer. Macadamia nuts are considered to be ideal snacks to support metabolism, fight disease, and support heart health. It contains a high amount of flavonoids that converts antioxidants in the body, thus reducing the risk for heart diseases. Hence, the demand for macadamia nuts is expected to grow in the near future.
By Form Segment
On the basis of forms, the macadamia market has been divided into raw macadamia, processed macadamia, and macadamia oil. The raw macadamia segment is estimated to hold a significant share of the market during the forecast period as raw nuts provide health benefits and people are becoming more health conscious. Raw macadamia contains high fats; however, 80% of this fat is monounsaturated, which does not affect the health. These are also rich in magnesium, calcium, antioxidants, vitamin E, potassium, phosphorous, and is low in carbohydrates. These nuts are used for increasing the level of good cholesterol (HDL-C) and for lowering bad cholesterol, this segment is anticipated to expand at a CAGR of over 6% during the forecast period.
By Application Segment
Based on applications, the macadamia market is divided into food and beverage industry and cosmetics and personal care industry. The food and beverage industry segment is projected to constitute over 4/5th of the market share in 2027, as a majority of macadamia nuts are used in the food and beverage industry. The cosmetics and personal care industry segment is anticipated to expand at a significant pace during the forecast period.
In terms of regions, the market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is a promising region for the market. It constituted a more than 1/4th of the market share in 2020. The market in the region is projected to expand at a CAGR of XX% during the forecast period. Asia Pacific is expected to lead the global market, accounting for a ~1/3rd of market share by the end of the forecast period. The growth of the macadamia market is attributed to factors such as rise in the consumption of dried fruits & nuts and increase in awareness regarding a healthy diet in countries such as India, Japan, and China. Vegan population is rapidly rising in this region; therefore, companies are launching creative vegan products, which in turn, is expected to fuel the macadamia market in the region.
In-depth Analysis of the Global Macadamia Market
Historical, Current and Projected Market Size in terms of Value
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Neutral Perspective on Global Macadamia Market Performance
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the report gives the list of macadamia license regulatory in different countries.
Yes, the report covers product specific information such as raw macadamia, macadamia oil, etc.
According to this Growth Market Reports report, the market from macadamia is likely to register a CAGR of 6.3 % during forecast period 2020-2027, with an anticipated valuation of USD 3,525.1 million by the end of the 2027.
In addition to market size (in USD Million), company Market Share (in % for base year 2019), other data such Macro-economic factors, COVID-19 Impact on the macadamia market is available in final report.
The increasing plantation activities for fulfilling the accelerated demand for macadamia is to drive market growth.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to witness moderate growth with 1.8% year on year change between 2019 and 2020 owing to the impact of COVID-19 pandemic on the macadamia market.
The base year considered for the global macadamia market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
Retail Stores, and Supermarkets/Hypermarkets, Online channels are the distribution channel of the macadamia market.
Major Manufactures include, Hamakua Macadamia Nut Company, MacFarms, LLC, Hawaiian Host, Inc., Kenya Nut Company Ltd, Marquis Macadamia, Ivory Macadamias.
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