The global walnut market is expected to grow at 4.4% over the forecast period (2021-2026). Coronavirus outbreak has caused disruptions to walnut production, including in the supply chain logistics, distribution, packing, and export markets. Value addition activities suffered as a result of the disruptions to the distribution channels. This tends to reduce the walnuts’ market value. In the Asia Pacific, the region with the highest walnut consumption, the lockdown extended has impacted both demand and consumption. Walnuts are a tree nut that is highly nutritious and has many health benefits. This is due to the increasing desire of consumers to live a healthy lifestyle. The market is also growing due to rising per capita walnut consumption, increasing demand for convenience foods, innovation in packaging, and a growing population willing and able to pay more for healthy fruits. According to FAOSTAT, China’s production of in-shell nuts will be 2.52 million metric tons in 2019. Due to the effects of frost damage in the previous year, the production is expected to be 15% lower. In addition, the lack of adequate supplies in China and high international walnut prices have impacted the demand for walnuts from China in 2018-2019. This has kept the imports down. Nearly half of all walnuts worldwide are sold to consumers, while 42% are used in food processing as ingredients in nut butter, bakery products, and similar products.
Scope of the Report
Walnuts are single-seeded, round stone fruits that come from walnut trees. Segmentation of the Walnut Market can be made by Geography (North America and South America, Europe; Asia-Pacific, Middle East, Africa); The report includes Production Analysis (Volume), Cost Analysis (Value & Volume), Consumption Analysis, Value & Volume, Export Analysis (Value & Volume), Import Analysis(Value / Volume), and Price Trend Analysis.
Geography (Production Analysis and Consumption Analysis by Valu & Volume, Import Analysis & Value & Quantity, Import Analysis & Value & Bulk, Export Analysis & Value & Price Trend Analysis).
- North America
- United States
- Asia Pacific
- South America
- The Middle East and Africa
Key Market Trends
Food Processing Industry: Increasing Demand
Globally traded walnuts are used in many industries, such as confectionery, chocolate, and nut butter. Walnuts are also used in ready-to-eat meals and beef jerky snacks. Walnuts are also being used in traditional sweets and savory dishes. With the rise in walnuts’ international trade, the versatility of walnuts has increased. As consumers use walnuts in their beverages, breakfast cereals, and home baking, this is evident. The confectionary channel accounts for close to 60% of all walnuts consumed worldwide by the food industry.
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Increased Walnut Consumption in Asia-Pacific Region
The Asia Pacific region accounts for nearly 36.0% of global walnut consumption. In 2018, the value of walnuts consumed by the regions was 2.73 billion. China dominates walnut consumption in the region. China’s per capita walnut consumption is rising and has increased 10.5 times over the last 21 years. The majority of the walnuts consumed in the country are produced domestically. Nearly half of it is processed and baked foods. The majority of walnuts are consumed by the snacking industry, which is expected to continue during the forecast period.