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The Global Macadamias Ingredients Market size is estimated to reach $2.6 billion by 2027. Furthermore, it is poised to grow at a CAGR of 4.3% over the forecast period of 2022-2027. Macadamia nuts are an Australian native nut. These nuts are the fruits of the macadamia tree and are primarily grown in Australia, although they are also grown commercially in Hawaii and, to a lesser extent, Florida and California. Ingredients from macadamia nuts are becoming better recognized as a valuable source of nutrients with a variety of health advantages. One of the most notable characteristics of macadamia nuts is its high-fat content, which includes monounsaturated fats as well as palmitoleic acid, Vitamin A, and Vitamin B (thiamine). The high nutritional value of macadamia ingredients has led to the increase in demand for the commercial production of such native species. “For persons who are lactose intolerant, vegan, or looking to explore dairy-free options, macadamia nut milk is a terrific alternative to dairy products,” says Maya Feller, M.S., R.D., CDN. Macadamias have a higher fat content than other nuts. The increased public awareness of the health benefits of nuts and dried fruits have been a major driver of industry growth. In recent years, there has been a considerable increase in global demand for healthy and nutritious snacks, particularly among the younger generation and the working-class population. People are also moving away from non-vegetarian sources of protein and toward plant-based alternatives. However, high prices for macadamia nuts, rising competition in the macadamia ingredients industry, limited species for commercial use, a lack of consumer awareness, the availability of alternative goods, allergies to macadamia nuts, traditional traditions, and regulatory limitations impasse market expansion.
Global Macadamias Ingredients Market Segmentation Analysis-By Ingredient Type
The Global Macadamias Ingredients market based on ingredient type is further segmented into raw, roasted, and coated. In 2021, the raw category had the most market share. This is mainly attributed to its cost-effectiveness owing to the fact that raw ingredients find most of their application in the preparation of skin renewing and moisturizing treatments as well as in various meals. Furthermore, the raw form has a high-fat content which makes it a healthy one. As in actuality the fat contained in it is cholesterol-free and contains palmitoleic acid which further assists the human body in the control of insulin level and a healthy bodily mechanism. As per US CDC, around 94 million people within the country have cholesterol higher than 200mg/dl, thereby consuming such nuts as snacks have helped them in multiple ways.
However, during the forecast period 2021-2027, the roasted segment of the market is anticipated to be the fastest-growing, with a CAGR of 5.2%. As macadamia kernels that have been roasted can be consumed; when cooked with or processed into a number of goods. Roasted, roasted, and salted, chocolate coated, honey-roasted, and wasabi-flavored are some of the most popular flavors. Moreover, they are also ground into a paste and cold-pressed into oil, which finds its application used in biscuits, pastries, and ice cream. Oil-roasted macadamia nut kernels are popular, but dry-roasted nuts are preferred as they contain just endogenous macadamia oil. All these factors together are to pave way for the segmental market growth.
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Global Macadamias Ingredients Market Segmentation Analysis-By Distribution Channel
The Global Macadamias Ingredients market based on distribution channel is further segmented into offline and online. In 2021, the online category has the largest market share. This is mainly owing to the fact that there is an increase in the number of online retail channels, especially in developing economies, which has augmented the penetration of modern grocery retail chains during the COVID-19, further contributing to the sales of such ingredient based products in the year of study. Also, during the forecast period 2021-2027, this segment of the market is anticipated to be the fastest-growing, with a CAGR of 6.0%. Instacart, ShopFoodEx, Tesco, Sainsbury’s, Asda Stores Limited, FreshDirect, Alibaba Group, Walmart, Kroger, and Amazon are the largest e-commerce portals that sell macadamia ingredient products. E-commerce platforms also provide users with value-added services such as cash-on-delivery, cash-backs, and discounted prices. For example, a brand names Miltop- offers its Macadamia Nuts at a deep discount of 25% on its MRP. As a result, these factors are anticipated to propel the online segment’s expansion over the projection period.
Global Macadamias Ingredients Market Segmentation Analysis-By Geography
The Global Macadamias Ingredients market based on Geography is further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. In 2021, Asia Pacific dominated the market with a 40% share and is poised to be the fastest-growing region. The Asia Pacific market is prone to be affected by rising awareness of nutrient-dense diets, as well as the increasing inclusion of tree nuts in diets across the region. China, Japan, Vietnam, Australia, South Korea, Malaysia, Thailand, and Singapore have all seen an increase in macadamia nut ingredients consumption. The increased penetration of macadamia nut ingredients into the normal diet of the population in these countries is responsible for the rising consumption. Furthermore, around 19% of the world’s macadamia nut consumption comes from China. As nuts ingredients are an important part of the Chinese diet pertaining to their well-known health benefits, according to information derived from Traditional Chinese Medicine.
Global Macadamias Ingredients Market Drivers
The ever-increasing number of government programs is propelling the market growth
The increasing adoption of macadamia nut ingredients and the disruption in supply in the global market prompted a fluctuation in the demand-supply of macadamia nuts, necessitating a high level of investment in the industry and government initiatives, which is poised to be a major factor in the macadamia ingredients market’s growth globally. Furthermore, WMO founding chief executive officer Jillian Laing, based in New Zealand, said the organization will position macadamias in the areas of health, luxury, and natural goodness and align with consumer trends towards mindful eating. Further, she estimates that the three resolute features would drive the market, the first being to consolidate the Indian market, the second being to grow the frequency of consumption in China, and the third is to make strong label claims.
The market is being driven by the extensive application of processed nut ingredients
Since macadamia ingredients in the processed form are beneficial to one’s health, they have found widespread use in a variety of end-use businesses. They are used to produce ice cream as well as to serve as a topping. There is an abundance of macadamia ice cream available on the market. Additionally, they are also employed in the preparation of cookies, biscuits, muffins, and cakes. Chocolates, health bars, nougats, and brittles are also made with them. Furthermore, nut consumption as a snack has become increasingly popular. Consumers, if are not able to obtain macadamia nut in raw form, they tend to consume it in any other offering. In a survey, respondents constituting around 1000 of which 51% revealed they are more likely to purchase a food item that has a nut in it, so as to intake higher proteins.
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Global Macadamias Ingredients Market Challenges
High prices of macadamia nuts are factors impeding market growth
Macadamia nuts are widely regarded as the costliest nuts on the planet. 250 grams of macadamia nut offering can cost anywhere near INR 850-INR 1100 as compared to almonds which can be obtained at a price equivalent of INR 450-INR 500 for 500 grams. Flowering macadamia trees are primarily harvested in north-eastern Australia, and it takes an average of eight years for them to begin producing nuts. As a result, the nuts of this tree are only picked for a few months each year. Furthermore, macadamia nut harvesting necessitates the ideal atmosphere, which includes rich soil, mild temperatures, and enough rain. As a result, places that do not match the requirements for ideal weather are unable to harvest macadamia nuts which thereby restricts the market growth for ingredients by creating a gap between the harvests and processing it to be used as ingredients.
Global Macadamias Ingredients Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the market. Global Macadamias Ingredients top 10 companies include:
In February 2022, Marquis Macadamias opened a new depot in Pongola, South Africa. Serving the greater northern KwaZulu-Natal region, the depot will ensure macadamia growers can easily deliver their crop and access processing facilities. Moreover, the company said, “Given the significant crop forecasts, it is therefore prudent for growers to have the necessary support, be it at an advisory or processing level, to assist with maximizing grower profits and increasing sustainability.” The director of the firm said that the new facility would give greater consistency in the offering and would fulfill the requirement in developing countries.
In February 2022, Insomnia Cookies has bought sweet treats option in Westwood. In terms of cookie offerings, customers can choose between two sizes – the $2.50 classic or $4.25 deluxe – with the deluxe being a little under twice as large as the classic. A less decadent option is the white chocolate macadamia. The white chocolate gives the cookie a milkier feeling, while the taste of macadamia harmonizes well with the rest of the cookie without overpowering the chocolate and cookie dough.
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Geographically, Asia-Pacific owing to the increasing demand for Global Macadamias Ingredients accounted for the highest revenue share in 2021, accounting for 40% of the worldwide market share over the projected period 2022-2027. The Asia Pacific market is prone to be affected by rising awareness of nutrient-dense diets, as well as the increasing inclusion of tree nuts in diets across the region.
During the forecast period 2022-2027, the market would be driven by people who are moving away from non-vegetarian sources of protein and moving towards plant-based alternatives.
A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Global Macadamias Ingredients Market Report.
A. Global Macadamia Market
B. Fruit And Vegetable Ingredients Market
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