Macadamia Market By Forms (Raw Macadamia, Processed Macadamia and Macadamia Oil), By Application (Food & Beverage Industry, and Cosmetic & Personal Care Industry), and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
The global macadamia market was valued at USD 2.70 Billion in 2022 and is projected to reach USD 4.68 Billion by 2031, expanding at a CAGR of 6.3% during the forecast period 2023-2031. 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.
Macadamia Market Dynamics
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.
Macadamia Market Segment Insights
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.
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.
Macadamia Market Regional Outlook
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.
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Macadamia Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Macadamia Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Macadamia Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Macadamia Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Macadamia Market Size & Forecast, 2017-2027
4.5.1 Macadamia Market Size and Y-o-Y Growth
4.5.2 Macadamia Market Absolute $ Opportunity
Chapter 5 Global Macadamia Market Analysis and Forecast By Forms
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Forms
5.1.2 Basis Point Share (BPS) Analysis By Forms
5.1.3 Absolute $ Opportunity Assessment By Forms
5.2 Macadamia Market Size Forecast By Forms
5.2.1 Raw Macadamia
5.2.2 Processed Macademia
5.2.3 Macademia Oil
5.3 Market Attractiveness Analysis By Forms
Chapter 6 Global Macadamia Market Analysis and Forecast By Application
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Application
6.1.2 Basis Point Share (BPS) Analysis By Application
6.1.3 Absolute $ Opportunity Assessment By Application
6.2 Macadamia Market Size Forecast By Application
6.2.1 Food and Beverage Industry
6.2.2 Cosmetic and Personal Care Industry
6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Macadamia Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Macadamia Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Macadamia Analysis and Forecast
9.1 Introduction
9.2 North America Macadamia Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Macadamia Market Size Forecast By Forms
9.6.1 Raw Macadamia
9.6.2 Processed Macademia
9.6.3 Macademia Oil
9.7 Basis Point Share (BPS) Analysis By Forms
9.8 Absolute $ Opportunity Assessment By Forms
9.9 Market Attractiveness Analysis By Forms
9.10 North America Macadamia Market Size Forecast By Application
9.10.1 Food and Beverage Industry
9.10.2 Cosmetic and Personal Care Industry
9.11 Basis Point Share (BPS) Analysis By Application
9.12 Absolute $ Opportunity Assessment By Application
9.13 Market Attractiveness Analysis By Application
Chapter 10 Europe Macadamia Analysis and Forecast
10.1 Introduction
10.2 Europe Macadamia Market Size Forecast by Country
10.2.1 Germany
10.2.2 Netherlands
10.2.3 France
10.2.4 Italy
10.2.5 U.K.
10.2.6 Spain
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Macadamia Market Size Forecast By Forms
10.6.1 Raw Macadamia
10.6.2 Processed Macademia
10.6.3 Macademia Oil
10.7 Basis Point Share (BPS) Analysis By Forms
10.8 Absolute $ Opportunity Assessment By Forms
10.9 Market Attractiveness Analysis By Forms
10.10 Europe Macadamia Market Size Forecast By Application
10.10.1 Food and Beverage Industry
10.10.2 Cosmetic and Personal Care Industry
10.11 Basis Point Share (BPS) Analysis By Application
10.12 Absolute $ Opportunity Assessment By Application
10.13 Market Attractiveness Analysis By Application
Chapter 11 Asia Pacific Macadamia Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Macadamia Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 India
11.2.7 Rest of Asia Pacific(APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Macadamia Market Size Forecast By Forms
11.6.1 Raw Macadamia
11.6.2 Processed Macademia
11.6.3 Macademia Oil
11.7 Basis Point Share (BPS) Analysis By Forms
11.8 Absolute $ Opportunity Assessment By Forms
11.9 Market Attractiveness Analysis By Forms
11.10 Asia Pacific Macadamia Market Size Forecast By Application
11.10.1 Food and Beverage Industry
11.10.2 Cosmetic and Personal Care Industry
11.11 Basis Point Share (BPS) Analysis By Application
11.12 Absolute $ Opportunity Assessment By Application
11.13 Market Attractiveness Analysis By Application
Chapter 12 Latin America Macadamia Analysis and Forecast
12.1 Introduction
12.2 Latin America Macadamia Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Macadamia Market Size Forecast By Forms
12.6.1 Raw Macadamia
12.6.2 Processed Macademia
12.6.3 Macademia Oil
12.7 Basis Point Share (BPS) Analysis By Forms
12.8 Absolute $ Opportunity Assessment By Forms
12.9 Market Attractiveness Analysis By Forms
12.10 Latin America Macadamia Market Size Forecast By Application
12.10.1 Food and Beverage Industry
12.10.2 Cosmetic and Personal Care Industry
12.11 Basis Point Share (BPS) Analysis By Application
12.12 Absolute $ Opportunity Assessment By Application
12.13 Market Attractiveness Analysis By Application
Chapter 13 Middle East & Africa (MEA) Macadamia Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Macadamia Market Size Forecast by Country
13.2.1 GCC Countries
13.2.2 South Africa
13.2.3 Kenya
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Macadamia Market Size Forecast By Forms
13.6.1 Raw Macadamia
13.6.2 Processed Macademia
13.6.3 Macademia Oil
13.7 Basis Point Share (BPS) Analysis By Forms
13.8 Absolute $ Opportunity Assessment By Forms
13.9 Market Attractiveness Analysis By Forms
13.10 Middle East & Africa (MEA) Macadamia Market Size Forecast By Application
13.10.1 Food and Beverage Industry
13.10.2 Cosmetic and Personal Care Industry
13.11 Basis Point Share (BPS) Analysis By Application
13.12 Absolute $ Opportunity Assessment By Application
13.13 Market Attractiveness Analysis By Application
Chapter 14 Competition Landscape
14.1 Macadamia Market: Competitive Dashboard
14.2 Global Macadamia Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Eastern Produce
14.3.2 Golden Macadamias
14.3.3 Hamakua Macadamia Nut Company
14.3.4 Hawaiian Host
14.3.5 Ivory Macadamias
14.3.6 Kenya Nut Company Ltd.
14.3.7 MacFarms, LLC
14.3.8 Marquis Macadamia
14.3.9 NAMBUCCA MACNUTS Pty Ltd.
14.3.10 Wondaree Macadamia Nuts