By the end of the year 2022, the worldwide demand for macadamia was estimated to be worth around US$ 2.2 billion. Further, the net revenue from total macadamia nuts sales globally in 2023 is anticipated to be about US$ 2.37 billion. The entire market value is predicted to rise at an 11.2% annual growth rate between 2023 and 2033. Finally, the global macadamia market value is expected to reach US$ 5.08 billion by the end of 2033.
An evolving trend for healthy snack alternatives among consumers across the world has significantly increased demand for macadamia nuts. Also, its nutritional properties due to containing high levels of monounsaturated fats and other vital components, have increased its popularity in non-native locations. Macadamia powder can be added to several culinary dishes, ranging from baked foods to confectionery, which has generated a diversified and vast customer base.
Currently, investments in precision agricultural techniques and cutting-edge processing technology have increased macadamia production efficiency and assured a consistent supply of high-quality macadamia nuts. Notably, more production of premium macadamia nuts has enabled advantageous pricing, which has contributed to strong revenue growth in the present market.
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Key Takeaways from the Macadamia Market Report
- The total consumption of macadamia in the United States is higher in comparison to other countries. The country is estimated to account for almost 24.4% of the global revenue share.
- In Europe, Germany is the leading regional market for the processing and consumption of macadamia products. In the current year 2023, this regional market is estimated to contribute to almost 7.4% of the global revenue share.
- Though Australia is known to be the native place for macadamia nuts, it has only a 3.2% market share in processed macadamia business worldwide.
- In Asia, China is known as the hub for macadamia processing and export. As of 2023, it holds around 13.2% of the global demand for macadamia.
- Japan is also a significantly growing market for sales of macadamia in Asia these years. It is expected to hold a global market share of 5.4% in the current year 2023.
Competitive Landscape for the Macadamia Market
Industries and participants in the global macadamia business are positioning themselves strategically to benefit from the growing popularity of macadamia outside Australia’s mainland. Added to that, a greater emphasis on marketing and distribution through online sales channels has allowed market participants to reach a broader audience.
“After the emergence of new participants, the global market is seeing an increase in product variety, such as flavored macadamias and value-added goods. So, marketing of novel products with attractive packaging has surged the consumption of macadamia in recent years.” – FMI analyst.
Recent developments by the Macadamia Processing Industries
A South African cooperative firm named Golden Macadamias developed a TOMRA 5C sorting system with Biometric Signature Identification technology in April 2022. This is a high-end optical sorting system or machine for nuts and dried fruits to achieve the finest product quality with a huge macadamia production volume.
Milkadamia Inc. debuted a new macadamia nut oil milk product line at Natural Products Expo West in March 2022. Macadamia milk under this category comes in salted caramel and pumpkin pie flavors aimed at attracting more consumers in the younger age group.
The World Macadamia Organization, located in China, launched its first consumer marketing campaign in January 2022. It was initiated to promote the importance of macadamias by presenting the ritual of cracking nut-in-shell macadamias during specific Chinese Festivals.