Global Macadamia Market to Hit Sales of $2.95 Billion by 2028 | Marquis Macadamias Produces 16% of the Global and 43% of Australia’s Macadamia
Global macadamia market was valued at USD 1.45 billion in 2021 and it is expected to reach at USD 2.95 billion by 2028, at a CAGR of 10.9% over the forecast period (2022-2028).
Westford, USA, Dec. 19, 2022 (GLOBE NEWSWIRE) — According to SkyQuest, global macadamia shipments are anticipated to grow from 210,000 metric tons in 2016 to 286,000 tons by 2022. South Africa is the largest producer of macadamia. In 2021, it produced over 54 metric tons of macadamia in nut-shell, which was followed by Australia. The high growth rate is due to the increasing demand for Macadamia nuts for food and beverage applications. The global macadamia market is driven by the increasing demand for macadamia nuts for food and beverage applications. In particular, the Asia-Pacific region is expected to account for the largest share of the global market in 2021. This is mainly due to the growing economies in this region and their rising preference for premium foods. Furthermore, the increasing popularity of healthy foods among consumers is also boosting the demand for Macadamias.
However, high cost of raw materials such as feedstock is a major restraint on the growth of this market. Additionally, a lack of skilled manpower and a fragmented distribution channel are also hindering growth prospects of this market. In fact, the global macadamia market is still in its early stages of development, with a relatively small number of large growers and processors. However, the market has shown consistent growth over the past decade, driven by healthy demand from key markets such as Asia, the US and Europe. SkyQuest expects the market to continue growing at a CAGR of 10.9% over the next few years. This growth will be driven by continued demand from Asia and other key markets, as well as by expansion into new markets such as South America and Africa.
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Exports to Emerging Economies and New Product Development to Offer Lucrative Opportunity for Players in Global Macadamia Market
In November 2022, SkyQuest released a comprehensive report on the global macadamia market. The report found that the market was valued at $1.45 billion in 2021, and is expected to grow to $2.95 billion by 2028. The report dissects the macadamia industry value chain, starting with growers/orchardists, followed by processors, marketers, and retailers. It also analyses the key trends driving growth in the industry, and highlights the challenges faced by each stakeholder group.
Some of the key findings of our analysis are as follows:
Orchardists are facing an uphill battle due to volatile weather conditions and pest pressures. In addition, they have to contend with low prices due to oversupply in certain regions. As a result, many growers are choosing to exit the industry or consolidate their operations.
On the other hand, processors in the global macadamia market are struggling with low margins, as they are unable to pass on higher costs to customers. In addition, they face fierce competition from other players in the industry, as well as from substitutes such as almonds and peanuts. Whereas, marketers are finding it difficult to differentiate their products in an increasingly commoditized market. In addition, they must contend with strict food safety regulations and rising marketing costs. However, retailers are benefiting from the growing popularity of macadamias as a healthy snack option. Nevertheless, they must deal with the challenges of managing stock levels and safeguarding against potential food.
According to SkyQuest, the current state of the macadamia market is positive, with strong demand and price growth expected over the next few years. This is due to a combination of factors, including population growth in key consuming countries, increased awareness of the benefits of macadamia nuts, and increased production by specialty growers. The report notes that while some challenges remain (e.g., constrained supplies), these are mainly manageable and should not have a significant impact on market dynamics over the next few years.
Key growth opportunities for the market include exports to emerging economies and new product development.
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Top Trends in Global Macadamia Market
In its analysis of the global macadamia industry, we have identified four key trends that are shaping the market:
1. The rise of Asia as a key market for macadamias: Asia is now the largest market for macadamias, accounting for more than 60% of global market share. Australia and Vietnam are some of the biggest producers in the region, followed by India and Japan. The region’s growing middle class and expanding restaurant sector are fueling demand for premium nuts like macadamias.
2. The growing popularity of organic and Fairtrade certified macadamias: Organic and Fairtrade certified macadamias are also gaining in popularity in the global macadamia market, as consumers become more conscious of the environmental and social impact of their food choices. This is particularly true in Europe and North America, where these certification schemes are well-established.
3. The expansion of the industry into new value-added product categories
The macadamia industry is also innovating by expanding into new product categories such as plant-based milk, butter and cheese. Macadamia oil is another promising growth area, as it is increasingly being used as a healthier alternative to other cooking oils.
4. The consolidation of the macadamia market through mergers and acquisitions.
Finally, the industry is consolidating, with larger players buying up smaller growers and processors. This trend is being driven by the need to achieve scale in order to compete effectively in global markets.
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Marquis Macadamias Holds 16% of the Global Macadamia Market
Marquis Macadamias is the largest macadamia producer in the world, and the company dominates the industry. In 2021, it held over 40% of the Australia macadamia market and 16% of the global market share, which translates to over 23.65 metric tons. The company has a long history of producing high-quality macadamia nuts. The company sells its products through a network of distributors and retailers worldwide.
The company’s flagship product is its raw macadamia nuts. Marquis Macadamias’ raw macadamia nuts are USDA Organic certified and are roasted using low-temperature methods that preserve the natural flavor and aroma of the nuts. Moreover, the company invests heavily in R&D to develop new products and technologies that make it easier for consumers to enjoy its products. It exports almost 90% of the total production to over 25 countries around the globe.
Top Players in the Global Macadamia Market
- Marquis Macadamia.
- Health and Plant Protein Group Limited
- Superior Nut Company, Inc.
- Hawaiian Host Group
- Hamakua Macadamia Nut Company
- T.M. Ward Coffee Company
- North Shore Macadamia Nut Company
- Mac’s Nut Co. of Hawaii
- Makua Coffee
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Global Feed Essential Oils Market
Global Feed Major Minerals Market
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