The global macadamia milk market size was valued at USD 39.25 million in 2022, is estimated to reach USD 63.55 million by 2031 and expanding at a CAGR of 5.5% during the forecast period, 2023 to 2031. The growth of the market is attributed to growing public awareness of the health benefits of nuts and dried fruits.
Macadamia milk is produced by soaking raw nuts in the water for several hours, then blended to a puree and filtered. Macadamia trees are mostly found in Australia and are now grown in various places around the world. Popular macadamia-producing regions are Australia, South Africa, and Hawaii in the United States. The macadamia milk market in Australia is anticipated to expand at a compound annual growth rate of 7.9% during the forecast period.
Moreover, the macadamia market in Germany is estimated to develop at a compound annual growth rate of 4%. Macadamia nuts have a butter-like flavor and creamy texture. They are linked to several health benefits such as blood sugar control, digestion, heart health, and weight management. Macadamia nuts are beneficial to plant compounds and rich in nutrients. Three species of the macadamia tree are commercially important including Macadamia integrifolia, Macadamia ternifolia, and Macadamia tetraphylla.
The Macadamia tree belongs to the Proteaceae family’s genus macadamia. Macadamia milk is used in various products. It is consumed in several flavors such as honey-roasted, salted, roasted, chocolate coated, and Wasabi-flavoured. Macadamia milk is used in pastries, baked goods, and ice cream. The primary buyers of the snack prioritize health benefits and freshness. People are shifting toward plant-based protein sources and slowly shifting to animal-based protein sources.
Macadamia milk fulfils one’s daily requirement of fat and protein, without incorporating any animal protein. Additionally, people are consuming less protein from animal sources and more from plant-based sources. As a consequence, customers maintain their vegan diets without developing lactose intolerance.
For instance, according to a study by Beijing-based think tank EO Intelligence, up to 71% of consumers questioned said snacks are equally vital to their psychological wellbeing. Macadamia is becoming a more common element in spreads such as Vitaquell or Nutfield's and as an ice cream topping.
Macadamia nuts are frequently given as presents during the Chinese New Year. Macadamia is enjoyed by all partygoers during the celebration, due to its good connotations. Nuts are an important part of the Chinese diet because of the products' well-known health benefits. Additionally, Australia exports these nuts to more than 40 other countries. Macadamia nuts have increased in popularity, due to consumer desire for natural ingredients in food, cosmetics, and personal care products.
COVID-19 Impact
Governments in several nations placed limitations, due to the spread of the COVID-19 virus. The pandemic affected the manufacturing, production, development, and logistics divisions. The Macadamia milk market also has some losses as a result of COVID-19 regulations, since all stores, booths, and restaurants that sold food manufactured from Macadamia milk or other non-dairy products were forced to close.
The supply chain disruption brought on by the COVID-19 limitations also has a substantial negative impact on sales of Macadamia milk. However, the market is expected to make a strong comeback by demonstrating a year-over-year rise of 5.4 percent, due to customers' propensity to utilize healthy food and beverage goods.
Macadamia Milk Market Dynamics
The report presents a complete market overview, and market dynamics by focusing on the current market trends, existing drivers, growth opportunities, and emerging challenges that shape the outcome or overall performance of the market during the forecast period, 2023 to 2031.
Major Trends: Increasing vegan population
The research report finds that the increasing demand for milk extracted from dried fruits and nuts drives the market expansion. In the last decade, global consumption of macadamia milk has increased, owing to its health benefits. People are moving towards vegan products and they are giving preference to macadamia milk. Various milk alternative has an ‘off’ aftertaste. However, macadamia milk has a good taste and smooth texture.
Key Drivers: Rising product demand from the food and beverages industry
The increasing demand for nutritious and healthy beverages drives the market growth during the forecast period. The market share is growing globally as a result of the extensive usage of macadamia milk in several industrial sectors, including the cosmetics and personal care sectors. The demand for nourishing drinks has grown significantly throughout the world, especially among the younger generation and the working-class population.
Current Restraints: Lack of security in the supply of raw materials
The shifting of customers’ tastes towards alternative milk products is anticipated to hinder the market during the forecast period. There are various types of milk alternatives for lactose-intolerant people including almond milk, soy milk, rice milk, hemp milk, coconut milk, and cashew milk. People choose milk alternatives according to their taste and nutritional requirement. Lack of security in the supply of raw materials and other production input is projected to hamper the market. Global demand for macadamia milk decreases, due to strict government rules and regulations.
Market Opportunities: Technological advancements play a key role
The macadamia milk market has profited from new methods and technical developments. Bickford’s company launched the range of macadamia milk and pistachio milk through independent grocery stores. The company uses aseptic filling technology, which means the milk are color, flavor, and nutritional integrity of the ingredients are optimized. The range of the milk is preservative free.
Scope of Macadamia Milk Market Report
The report on the global macadamia milk market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Macadamia Milk Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Fluid and Powder), Distribution Channels (Supermarket/Hypermarket, Online Retails, and Others), and End-users (Personal Care, Cosmetics, Food Industry, Residential, and Commercial)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Kenya Nut Company; Nambucca Macnuts; Ivory Macadamias; Eastern Produce; Hamakua Macadamia Nut Company; Marquis Macadamias; Golden Macadamias;
Mauna Loa Macadamia Nut Corp; and Buderim Group
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Macadamia Milk Market Segment Insights
Fluid segment to expand at a considerable CAGR
Types Segment Analysis
On the basis of types, the macadamia milk market is segmented into fluid and powder. The fluid segment is projected to expand at a considerable CAGR during the forecast period, due to the rising trend of veganism. The promotion of vegan diets by celebrities drives market growth. Lechia company based in Brooklyn launches chia, flax, and macadamia milk range with omega 3.
Macadamia milk contains a huge 1200mg of omega 3s. Macadamia milk is filled with fiber and calcium, and is perfect for frothing, mixing, and drinking plain. The powder segment is anticipated to account for a major market share during the forecast period. Macadamia milk lacks dairy proteins, and it has low calories, and high amounts of magnesium, calcium, and fatty acids. The macadamia milk is suitable for breakfasts, baking, coffee drinks, smoothies, and cocktails.
Supermarket/hypermarket segment to hold a significant share of the market
Distribution Channels Segment Analysis
Based on distribution channels, the market is divided into supermarket/hypermarket, online retails, and others. The supermarket/hypermarket segment is expected to hold a significant share of the market in the coming years, due to the easy availability of various products. The online retails segment accounts for a significant market share, owing to the increasing demand for convenience goods and a one-stop shopping experience.
Direct distribution channels allow manufacturers to deal directly with their end customers. For instance, the key players manufacturing macadamia milk products are able to sell directly to their customers using an e-commerce platform, by using a direct distribution channel.
Food industry segment to expand at a substantial CAGR
End-Users Segment Analysis
On the basis of end-users, the macadamia milk market is segregated into personal care, cosmetics, food industry, residential, and commercial. The food industry segment is anticipated to expand at a substantial CAGR during the forecast period, owing to the rising demand for raw and processed milk. The use of nuts in baking and confectionery items drives market growth.
The personal care segment is expected to hold a significant share of the market. Macadamia contains a balanced ratio of omega 3 and omega 6 fatty acids. It is an excellent product for even the most sensitive skin types as macadamia helps to smoothen the skin and restore its natural balance.
Macadamia milk is used as a cream to add an extra creamy texture to the coffee. A dish of granola, cereal, or oatmeal goes well with macadamia milk.
Europe is anticipated to constitute a key market share
Regional Analysis
In terms of regions, the macadamia milk market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe is expected to constitute a key share of the market during the forecast period, owing to the popularity of healthy beverages. Every year, Germany re-exports to other European markets about 25 percent of total macadamia nut imports. The re-export industry is handled by specialized dealers and agents, many of whom are situated in Hamburg.
The macadamia milk market in the Asia Pacific is anticipated to expand at a rapid pace during the forecast period, due to the existence of several end-use industries.
Particularly, China and India are both experiencing an uptick in their consumption habits, which is driving up demand for the macadamia nut industry. Numerous other market categories are expected to perform well and have bright development potential in the second half of the projected period. Key players in East Asia regions are preparing to pursue vertical integration, to combat growing raw material prices.
The third-largest importer of macadamia nuts in Europe and its fifth-largest consumer are both the United Kingdom. Only a small portion of imported macadamia nuts are exported back to the UK. The bulk of the macadamia nuts imported into the UK is consumed domestically, making it a net importer of these nuts.
Moreover, there are more than 6 million macadamia trees and over 16,000 hectares of plantations in Australia's macadamia nut sector. The cultivation of macadamia nuts involves more than 850 Australian farmers.
Consumption of organic macadamia nuts is also expanding in Germany, thanks to advertising campaigns by specialized suppliers such as the German-Kenyan macadamia nut firm.
Segments
The global macadamia milk market has been segmented on the basis of
Types
Distribution Channels
- Supermarket/Hypermarket
- Online Retails
- Others
End-users
- Personal Care
- Cosmetics
- Food Industry
- Residential
- Commercial
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global macadamia milk market are Kenya Nut Company; Nambucca Macnuts; Ivory Macadamias; Eastern Produce; Hamakua Macadamia Nut Company; Marquis Macadamias; Golden Macadamias; Mauna Loa Macadamia Nut Corp; and Buderim Group.
The market has gained a competitive edge through a range of growth strategies, including mergers and acquisitions, capacity expansions, boosting internet presence, and new product releases. Recent product developments have increased market rivalry while expanding the industry's consumer base. Recent product innovations have boosted market competition while broadening the industry's customer base. For instance, plans to enter the rapidly expanding market for plant-based food alternatives have been made public by the Health and Plant Protein Group Limited.
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