In terms of value, the pecan market is expected to reach 5,474.2 US$ Mn by 2033, up from 2,447.9 US$ Mn in 2022, with a 9.35% growth rate over the forecast period. Healthy eating trends, notably the increased acceptance of plant-based protein sources, are driving the pecan industry.
The worldwide pecan market is expanding rapidly, and this trend is expected to continue in the next years due to the widespread use of pecans in the food and beverage sector. Pecans are a hickory nut species endemic to South Central North America. It is commonly used in the creation of snacks. The market sells a variety of pecan nuts. Caryaillonoinensis is a thin-shelled pecan nut with a thicker kernel than other species. Other varieties of pecan nuts are Carya ovata and Caryacordiformis, which are enormous in size with a thin shell.
Cultivated in the Spanish Costa del Sol, these species are of the Mahan and Elisabeth types. A hard pecan nut is the mockernut. A shagbark is a thin-shelled, ovoid-shaped nut. The store also has Shellbark, Pignut, Bitternut, Hican, Witchita, Apache, Sioux, Shawnee, and Barton varieties of pecan nuts.
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Pecans Market Segmentation
By Application
- Household
- Commercial
- Food Industry
- Cosmetics
- Personal Care
Regional Scope
- North America
- Europe
- APAC
- South America
- Middle East
- Africa
Key Players
Royalty Pecan Farms, Merritt Pecan, Inc., Whaley Pecan Company, NAVARRO PECAN COMPANY INC., CANE RIVER PECAN COMPANY, Hudson Pecan, Missouri Northern Pecan Growers, LLC, FICO / Green Valley Pecan Company, Stahmanns Inc., JOHN B. SANFILIPPO & SON, INC., Golden Peanut, and Tree Nuts, South Georgia Pecan Co., Diamond Foods, Sahale Snacks, Inc., Guidry Organic Farms, Lamar Pecan Company, Lane Southern Orchards, Atwell Pecan Co., Inc (Stuckey’s Corp), Pecan Argentina, Oliver Pecan Co,
Application Insights
The food industry has led the market in terms of application, holding a sizable proportion of 34.27% in 2022 and predicted to grow to a valuation of US$ 2,063.9 Mn by 2033. The household category then came in second, with a share of around 18.83% in 2022 and a predicted CAGR of 10.06% during the projection period.
Even with the availability of other nutritious nuts, pecans are still becoming more and more popular among consumers. In addition to being a popular nut in culinary trends, pecans are also well-liked by health-conscious customers. For example, pecan-based meals such as pecan muffins, pecan biscuits, and other bakery items are growing in popularity as part of the healthy eating trends. This element is significantly increasing the demand for pecans in the food business sector, which is expected to continue dominating the worldwide market.
Regional Insights
Geographically, North America held a 68.42% market share in 2022 and is projected to grow to a value of US$ 3,923.0 million by 2033. The US market, which supplies around 80% of the world’s supply of pecans, has expanded its production, making pecan nuts more accessible. A significant portion of pecan production and consumption also comes from Mexico.
The pecan sector is anticipated to expand in the upcoming years as customer preferences for food will likely be influenced by concerns about nutrition and health. Europe and Asia Pacific have a substantial proportion of the worldwide pecan market, followed by North America. Over the projection period, Asia Pacific is expected to develop at a CAGR of 9.64%. It is anticipated that a sharp increase in pecan output in emerging nations will propel market expansion.
Scope of the Report
This study provides estimates and data for the global pecan market for the past, present, and future. An extensive research approach was used to establish the market estimations that are included in the study. Multiple research channels are used in the accepted research approach, including primary, secondary, and subject-related expert input. The Seasonal Affective Disorder Market is estimated by taking into account the impact of many economic, social, and political aspects in addition to the present market dynamics. The market data is also defined by different laws, government expenditures, and the expansion of research and development. The market projections take into account both favorable and unfavorable changes in the market.
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