Macadamia Market To Report Impressive Growth, Revenue To Surge To US$4.5 Billion By 2024

With the presence of a large pool of participants, the global macadamia market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Golden Macadamias, Hamakua Macadamia Nut Company, Nambucca Macnuts Pty Ltd, Royal Macadamia (Pty) Ltd, MWT Foods Australia, Kenya Nut Company Ltd, Wondaree Macadamias, Mauna Loa Macadamia Nut Corporation, and MacFarms are some of the key vendors of macadamia across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the macadamia market study.

This review is based on a report by Zion Market Research, titled “Macadamia Market by Application (Food Industry and Cosmetic Industry): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2024.”- Report at https://www.zionmarketresearch.com/report/macadamia-market

Citing an instance, in March 2018, Buderim Group Limited acquired Royal Hawaiian Orchards TM and combined it with retail macadamia nut product referred as MacFarms. Reportedly, the merger projects Buderim to be the biggest marketer of macadamia nuts across the U.S.

In yet another instance, in July 2018, macadamia nut crop in Hawaii posted massive yield in last six years, thereby setting a new record with high farm price.

As estimated in this report, the global macadamia market stood at US$ 2.99 billion in 2017. Witnessing a tremendous rise during the period from 2018 to 2024, the revenue in this macadamia market is expected to reach US$ 4.5 billion by the end of the forecast period.

Humungous Product Demand In Cosmetics & Food Sectors To Impel Growth

“Escalating demand for macadamia in cosmetics & food sectors along with massive product use in production of cakes, desserts, confectionaries, cookies, and chocolates is anticipated to uplift the scope of macadamia market,” says the author of this study. Apart from this, anti-inflammatory, antioxidant, and antimicrobial properties of the product are anticipated to boost macadamia market revenue in the coming years.

Low cultivability and massive product costs, however, is expected to hinder macadamia market earnings over the years ahead.

Massive Consumption Of Dried Fruits & Nuts To Help APAC Maintain Dominance

Regionally, Asia Pacific has been leading the worldwide macadamia market and is anticipated to continue on the dominant position in the years to come, states the macadamia market study. Rising healthcare awareness and large intake of dried fruits & nuts in countries such as Japan, India, and China is the main factor behind the dominance of the Asia Pacific macadamia market. The high number of market players being headquartered in Asia Pacific is another significant factor that is supporting this regional macadamia market. In addition, rapidly exploding population along with rise in the disposable incomes is expected to drive macadamia market size in the region. Rapidly increasing vegan population along with introduction of new vegan products is expected to favorably influence the growth of macadamia market across APAC.

The global macadamia market is segmented as follows:

By Application

• Cosmetic Industry
• Food Industry

By Region

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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