Global macadamia market expected to reach approximately USD 4.5 billion by 2024, growing at a CAGR of around 6% between 2018 and 2024. Macadamia nuts are buttery flavored nuts obtained from macadamia tree. Macadamia nut trees are usually cultivated and harvested in the tropical climates of Brazil, Indonesia, New Zealand, Australia, South Africa, and Kenya.
The report covers a detailed analysis and forecast for the macadamia market on a global and regional level from 2015 to 2024. The study offers historical data for 2015, 2016, and 2017 along with a forecast from 2018 to 2024 based on revenue (USD Billion). The study comprises a comprehensive view of the market with the review of market drivers, restraints, and opportunities. It also provides the level of impact of drivers and restraints on the macadamia market between 2017 and 2024.
The study includes a detailed competitive scenario and the product portfolio of key vendors. The report evaluates Porter’s Five Forces model to analyze the different factors affecting the growth of the macadamia market. Moreover, the study encompasses a market attractiveness analysis, which provides the most attractive and least attractive market segments information by application and region.
The report includes detailed segmentation of macadamia market based on application and region. On the basis of application, the market can be classified into the cosmetic industry and food industry. Major regional segment analyzed in this report include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa with its further bifurcation into major countries including the U.S. Germany, France, UK, China, Japan, India, and Brazil.
The report provides detailed competitive outlook including market share and company profiles of the key players operating in the global market. Some of the key participants in the report include Hamakua Macadamia Nut Company, Royal Macadamia (Pty) Ltd., Golden Macadamias, Kenya Nut Company Ltd., Mauna Loa Macadamia Nut Corp., MacFarms, Nambucca Macnuts Pty Ltd., MWT Foods Australia, and Wondaree Macadamias, and others.
This report segments the global macadamia market as follows:
Global Macadamia Market: Application Segment Analysis
Global Macadamia Market: Regional Segment Analysis
Macadamia nuts are the fruits of macadamia tree which is native to eastern Australia. Macadamia nuts are round and shiny of approximate 1-inch diameter and have a leathery, thick husk that splits alongside during the ripening process. Macadamia is commercially produced in Hawaii. Once the macadamia nuts are matured they fall on the ground. The matured nuts are then machine-hulled, dried, and stored for processing.
Growing use of macadamia nuts in the confectionery products due to its nutritional values and rising demand for the macadamia in the skin products owing to its natural oil and vitamin content are the key factors that are expected to positively impact the global macadamia market. Moreover, the growing awareness among consumers about natural cosmetic ingredients and healthy food with high content of vitamins and minerals is expected to drive the demand for macadamia in the near future. However, fluctuation in supply due to increasing crop losses leads to rising prices, which is expected to restrain the growth of the macadamia market during the forecast period.
Based on the application, the macadamia market can be segmented into the food industry and cosmetic industry. Cosmetic industry segment accounted for larger market share. In cosmetic industry, macadamia is used as a natural ingredient to produce vitamin and mineral rich cosmetics. As macadamia possesses anti-inflammatory properties and high content of antioxidants, it is preferred by cosmetic manufacturers to produce a wide range of products for hair, skin, and body care. The food industry segment is expected to show substantial growth during the forecast period due to increased use of macadamia in the production of confectionery and bakery products such as ice creams, chocolates, cakes, and candies.
By geography, North America accounted for the largest chunk of market share in terms of revenue in 2016. The industry is expected to be driven by busy lifestyles. In terms of revenue, North America was followed by the Asia Pacific and Europe in 2017. Asia Pacific is expected to show significant growth in the years to come. This is mainly due to increasing demand for natural and organic cosmetics, brought on by the improved standard of living in countries such as China, Japan, and India, increasing the growth of the Macadamia market in North America.
The major market players in the global macadamia market gained a significant share of the market in 2017. Some of the leading companies have been investing in technological advancement, quality standard maintenance, and product innovation, in order to retain their existing customer base. Some of the primary players are Nambucca Macnuts Pty Ltd., Hamakua Macadamia Nut Company, MWT Foods Australia, Royal Macadamia (Pty) Ltd., Mauna Loa Macadamia Nut Corp., Kenya Nut Company Ltd., MacFarms, Wondaree Macadamias, and Golden Macadamias.
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