Macadamia Nuts: Market Outlook
Macadamia nuts are the native nuts from Australia. These nuts are the fruits of the tree found in eastern Australia called the macadamia tree. These shiny nuts are approximately 1-inch in diameter having a leathery outer shell. Macadamia nuts are majorly grown in Australia, also it is commercially grown in Hawaii and to some extent in Florida and California. The macadamia nuts are also known as Australian Nuts, Bush Nuts, or Queensland Nuts. They have various applications in various industries owing to the nutritional properties and its unique taste.
The buttery taste of macadamia nuts makes it a perfect ingredient for the confectionery products. The use of macadamia nuts in various breakfast and dietary recipes is also increasing owing to the high nutritional quotient of the nuts. Along with this, the national value of the nuts is increasing its usage in various cosmetic and skincare products. The rising awareness about the natural cosmetics ingredients among the customers is also driving the market for the macadamia nuts across the globe. Conversely, the increased frequency of natural calamities and crop losses leads to the fluctuation in the supply of macadamia nuts across the globe.
Theses nuts are popular in Australia as Australia is the leading producer of macadamia nuts across the globe. The roasted form of macadamia nuts is the most popular snack in some of the world. Meanwhile, some consumers are also using macadamia nuts as medicine. The medicinal properties of these nuts help to lower the cholesterol level, and the consumption of these nuts also helps in the weight management program.
Global Macadamia Nuts Market: Market Segmentation
On the basis of Nature, the global macadamia nuts market has been segmented as,
On the basis of Form, the global macadamia nuts market has been segmented as,
On the basis of Type, the global macadamia nuts market has been segmented as,
On the basis of Application, the global macadamia nuts market has been segmented as,
On the basis of distribution channel, the global macadamia nuts market has been segmented as,
Global Macadamia Nuts Market: Market Participants
Some of the market participants operating in the global macadamia nuts market identified across the value chain include Ivory Macadamias, Hamakua Macadamia Nut Company, Golden Macadamias, MacFarms, Eastern Produce, Mauna Loa, Wondaree Macadamia Nuts, and Nambucca Macnuts among the other macadamia nut manufacturer.
Opportunities for Market Participants in the Global Macadamia Nuts Market
The macadamia nut is witnessing the increasing demand across the globe, on the other hand, the scarcity of the supply of the macadamia nut is increasing the demand-supply gap around the globe. The strategic intents and strategies for increasing the crop production coupled with the investment initiatives by the manufacturers are anticipated to boost the global macadamia nuts market. The support from the government is helping the manufacturers to take strategic decisions for the developments of the macadamia nuts crop. The plantation of the macadamia nut tree in Australia is increasing by approximately 6000-7000 ha/year, and in China, the plantation is increasing exponentially every year. The large scale investment is broadening the scope of the supply base. Such investments and government initiatives are propelling the growth of the global macadamia nuts market.
Australia is the leading producer of macadamia nuts in the world. Australia's macadamia nut industry has over 6 million trees that cover the plantation area above 16,000 hectors. More than 850 growers from Australia are supporting the production of macadamia nuts. This plays an important role in catering to the increasing supply of macadamia nuts across the globe. The manufacturers have lucrative opportunities to source high-quality nuts from these growers by forming an agreement for the supply of the high-quality macadamia nuts. This strategic move will secure the steady supply of macadamia nuts for the manufacturers.
Australia is also exporting these nuts to over 40 countries across the globe. The consumer's demand for natural ingredients in their food and cosmetics & personal care products has developed a substantial demand for macadamia nuts. A healthy lifestyle has changed the perspective of consumers towards a balanced and nutritious diet. This has increased the importance of macadamia nuts in the global market.
COVID-19 Impact on Global Macadamia Nuts Market
The Macadamia Nut is the most loved ingredient in confectionery products. In the next couple of months, it is anticipated that the global macadamia nuts market will experience the slow growth rate owing to the country lockdown imposed in Australia. As Australia is the main producer of the macadamia nuts, the manufacturers will face the challenges while exporting the macadamia nuts across the globe. After the situation gets better, and the widespread of coronavirus stops, the global macadamia nuts market will have increased demand and will have a stringent growth rate over the next couple of years