Walnuts Market Growth Analysis With Investment Opportunities
Walnuts Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033
LONDON, GREATER LONDON , UK, June 24, 2024 /EINPresswire.com/ -- The walnuts market, driven by increasing consumer awareness about health benefits and sustainability, is set to grow robustly in the coming years. Starting from $7.27 billion in 2023, the market is projected to reach $7.66 billion in 2024, marking a compound annual growth rate (CAGR) of 5.5%. It will grow to $9.59 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. This growth is attributed to expanding dietary preferences favoring plant-based proteins and the globalization of walnut consumption.
Rising Consumer Awareness Fuels Market Expansion
The surge in awareness about health benefits associated with walnuts, rich in omega-3 fatty acids and antioxidants, is a key driver propelling market growth. Consumers are increasingly integrating walnuts into their diets for heart health benefits and to reduce inflammation, aligning with broader trends towards healthier lifestyles.
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Major Players and Market Trends
Leading companies in the walnuts market such as Olam Group and John B. Sanfilippo And Son Inc. are focusing on innovative products and sustainable practices. For instance, there is a growing trend towards walnut-based protein supplements like Black Walnut Protein Powder, meeting the rising demand for nutritious and sustainable food choices.
In January 2023, Surthrival Ltd. launched the Black Walnut Protein Powder, derived from sustainably foraged black walnuts using a carbon dioxide extraction process to ensure purity and quality.
Walnuts Market Key Trends Shaping the Market
Innovative product developments, sustainability in walnut harvesting, and adoption of regenerative agricultural practices are major trends expected to drive market growth. The emphasis on health and wellness among consumers continues to expand product portfolios and drive innovation in the walnut market.
Walnuts Market Segments
The walnuts market is segmented based on:
• Product Type: Black Walnuts, English Walnuts
• Nature: Organic, Conventional
• Category: In Shell Walnuts, Shelled Walnuts
• End-User: Household, Industrial, Food Industry, Personal Care And Cosmetics, Pharmaceuticals
Regional Insights: Asia-Pacific Leads the Market
Asia-Pacific emerged as the largest region in the walnuts market in 2023 and is expected to maintain its leading position. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.
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Walnuts Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Walnuts Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on walnuts market size, walnuts market drivers and trends, walnuts market major players, competitors' revenues, market positioning, and market growth across geographies. The walnuts market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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