Macadamia Nuts Market Overview
Macadamia nuts contain minerals, amino acids, vitamin B-complex, and trace elements. They are mainly used in various food products such as frozen desserts, bakery products, and snacks. Macadamia integrifolia oil has a similar composition to olive oil and contains about 58% monounsaturated fatty acids and is thus considered healthy due to the low cholesterol content. The oil also maintains the balance between omega-6 and omega-3 fatty acids, thereby maintaining proper blood circulation. Macadamia nuts and oils are also used in the manufacture of personal care products due to their high vitamin content. Thus, the demand for macadamia nuts is soaring globally.
Asia-Pacific is expected to be the largest Macadamia Nuts Market Size during the review period owing to the presence of leading food producers in the region. Australia is one of the main commercial growers of macadamia nuts, producing more than 40,000 tons per year. The nuts are enriched with healthy lipids, vitamins, minerals, and protein. Therefore, macadamia nuts are not only used for culinary purposes, but also in personal care products as the oil protects the skin, lips, and hair from moisture loss.
The North American market is projected to register the highest growth rate during the forecast period owing to the increasing awareness regarding the health benefits of macadamia nuts. Enriched with iron, potassium, magnesium, calcium, manganese, niacin, and thiamin, macadamia nuts contain nutraceutical compounds, including tocopherols; they also have antioxidant properties that aid in maintaining blood pressure and preventing chronic diseases.
The market in the rest of the world includes South America, the Middle East, and Africa. Africa and the Middle East are major markets for macadamia nuts. The growth of the market in the rest of the world can be attributed to the growing food & beverage industry and rising demand for high-quality nuts for their taste and flavor.
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The Global Macadamia Nuts Market has also been segmented based on type, category, application, and region. By type, the global macadamia nuts market has been segmented into whole, halves, whole and half blends, chips, and others. The whole segment is expected to account for the largest market share owing to the easy availability and high use of whole macadamia nuts in various food products such as chocolates, biscuits, cakes, and ice cream. The segment is also expected to register the highest growth rate during the review period.
Based on category, the global macadamia nuts market has been segregated into organic and conventional. The conventional segment accounted for the larger market share in 2017 owing to the widespread availability and lower prices of conventional nuts as compared to organic nuts. However, the organic segment is projected to register the highest growth rate during the forecast period due to changing consumer preferences.
Some of the key players in the global Macadamia Nuts Market are Alimentos Selectos S.A. (Guatemala), Hamakua Macadamia Nut Co Inc. (US), Royal Macadamia (Pty) Ltd (South Africa), Golden Macadamias (South Africa), Kenya Nut Company Ltd (Kenya), Mauna Loa Macadamia Nut Corp (US), MacFarms (US), Nambucca Macnuts Pty Ltd (US), MWT Foods Australia (Australia), and Wondaree Macadamias (Australia).
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