The global Pecan Nuts Market, production was assessed at 124,000 metric tons in 2018. The United States and Mexico combined accounted for more than 93 percent of the overall output in the world while the rest is included by countries like South Africa, and Australia among others. Moreover, the United States was not only a minor supplier to the Pecan Nuts Market Supply but also one of the largest consumers of Pecan Nuts in the globe. For instance, in the year 2019, the country used almost 65,842 metric tons of Pecan Nuts, contributing to more than half of the global Pecan Nuts supply for the same year. The increasing per capita spending on vegan meals, coupled with the increased nutritional awareness across various consumer groups, is pushing the market for Pecan Nuts throughout the worldwide demographics.
The introduction of the Pecan Nuts to the market: Trees that produce pecan nuts can be found throughout the northern United States. Protein, calcium, magnesium, and potassium vitamins, as well as fibre, are abundant in pecan nuts. These nutrients work together to lower blood pressure and cholesterol. Healthy edible fats are those that include a high percentage of unsaturated fat, such as those found in this product. You may obtain it in shelled or unshelled form in the market, which has a buttery flavour and crunchy texture.
MARKET DYNAMICS
Healthy and nutritious nuts are becoming increasingly popular among the general public, and pecan nuts are no exception. The pecan nuts market’s prospects have improved as a result of the growing popularity of baking items made with pecans. Pecan nuts are gaining in popularity as a source of plant-based nourishment, as people become more aware of the benefits of eating a healthy diet, and as a result, the pecan nut market is expected to grow. Pecan nuts, on the other hand, face competition from almonds, walnuts, pistachios, cashews, and other nut replacements.
Scope of the Report
Pecan Nuts is defined as an edible nut which is also termed as Carya illinoinensis, is native to the warmer portions of the United States and Mexico. For the aim of the study both shelled and in-shell nuts have been studied for examining the consumption patterns of Pecan Nuts across the worldwide demographics.
Increasing Pecan Nuts Supply to Drive the Consumption Trend
The Pecan Nuts is commonly referred to as a tree nut that is native to the North American region. As per the National Agricultural Statistics Service (NASS), the global Pecan Nuts output peaked at 147,222 metric tons in 2019, which greatly rose with the United States’ contribution to the global Pecan Nuts production. For instance, in the year 2018, the production of Pecan Nuts in the United States was peaked at 99,450 metric tons, which dramatically grew to 119,250 metric tons by 2019. Thus, the expanding output in the United States market, which fundamentally attributes to approximately 80 percent of the worldwide Pecan Nuts production, had boosted the availability of Pecan Nuts in the world. Moreover, as per the data given by the United States Department of Agriculture, shelled Pecan Nuts stockpiles in the United States market have expanded significantly by 27 percent in cold storage from 2018 to 2019. Thus, the aforementioned explanations could disclose the possible consumption trend of Pecan Nuts over the projection period.
Pecan Nuts Market: Competitive Analysis and Key Developments
Players in the Pecan Nuts industry are leaning in boosting the assortment of snacks made of Pecan Nuts to entice prospective consumers. They are increasing their product offerings. For instance, a few renowned candy producers in industrialized countries are coming out with unique flavor combinations. Over the past few years, food processors have expanded their investments to fulfill the needs of the snacking sector by tapping on the great popularity of Pecan Nuts in North America. Global companies in the Pecan Nuts industry have gained from the export of value-added agricultural products, such as in ASEAN countries. They are searching for increasing their distribution networks in new geographic markets.
However, most players have been struggling from the disruptions due to the COVID-19 epidemic and the worldwide lockdowns in recent months. However, they are trying to keep the distribution route afloat.
Leading Market Players: Hudson Pecan Company, Navarro Pecan Company Inc., Golden Peanut and Tree Nut, Merritt Pecan Inc., Ellis Bros. Pecans Inc., Pecan Argentina S.A., Atwell Pecan Co. Inc., New Aces Inc., Lamar Pecan Company, Guidry Organic Farms LLC., Sahale Snacks Inc., Farmers Investment Co., John B. Sanfilippo & Son Inc., Royalty Pecan Farms, Diamond Foods Inc., and The Kraft Heinz Company.
The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but are not limited to
- North America, South America, and the Americas
- Asia Pacific and Japan
- Europe
- Latin America
- Middle East and Africa
Also Read: Global Tobacco Products Industry Growth Rate
