Walnuts Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope
Walnuts are nutrient-dense seeds harvested from the Juglans genus tree, characterized by their hard, wrinkled shells enclosing edible seeds. They contain high levels of healthy fats, protein, fiber, vitamins, and minerals, including omega-3 fatty acids and antioxidants, which contribute to various health benefits, including improved heart health, brain function, and reduced inflammation.

Sizing and Forecast
The walnuts market size has grown strongly in recent years. It will grow from $7.27 billion in 2023 to $7.66 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%.  The growth in the historic period can be attributed to increasing consumer awareness about health and sustainability, the rising popularity of plant-based protein, expansion of the walnut market, changes in dietary preferences, and increased globalization.

The walnuts market size is expected to see strong growth in the next few years. It will grow to $9.59 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%.  The growth in the forecast period can be attributed to projected economic growth in emerging markets, expansion of e-commerce platforms,  changes in trade agreements and regulations, and increasing emphasis on sustainability and ethical sourcing practices. Major trends in the forecast period include innovative products, sustainability in walnut harvesting, adoption of regenerative agricultural practices, health and wellness trends, and expanding product portfolios.

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Segmentation & Regional Insights
The walnuts market covered in this report is segmented –

1) By Product: Black Walnuts, English Walnuts
2) By Nature: Organic, Conventional
3) By Category: In Shell Walnuts, Shelled Walnuts
4) By End-User: Household, Industrial, Food Industry, Personal Care And Cosmetics, Pharmaceuticals

Asia-Pacific was the largest region in the walnuts market in 2023. The regions covered in the walnuts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The rise in awareness about healthy lifestyles is expected to propel the walnuts market going forward. A healthy lifestyle refers to a way of living that incorporates behaviors and habits aimed at promoting physical, mental, and emotional well-being. The surge in awareness about healthy lifestyles is due to increasing access to information, rising concerns about chronic diseases, and a growing emphasis on preventive healthcare measures. Walnuts are rich in omega-3 fatty acids and antioxidants, promoting heart health and reducing inflammation, making them a nutritious addition to balanced diets and plant-based lifestyles. For instance, in May 2022, according to an online survey with 1,005 Americans ages 18 to 80 conducted by the International Food Information Council, a US-based non-profit organization, 52% of participants followed a specific diet or eating pattern, up from 39% in 2021. Further,  the most common diets or eating patterns include clean eating (16%), mindful eating (14%), calorie counting (13%), and plant-based eating (12%). Therefore, the rise in awareness about healthy lifestyles is driving the growth of the walnuts market.

Key Industry Players
Major companies operating in the walnuts market report are Olam Group; John B. Sanfilippo And Son Inc.; Borges International Group; Sierra Cascade Nut Company; Mariani Nut Company Inc.; Webster Limited; Poindexter Nut Company; Grower Direct Nut Co. Inc.; Morada Produce Co LP; Crain Walnut Shelling Inc.; Alpine Pacific Nut Company; Andersen and Sons Shelling Inc.; Mid Valley Nut Co Inc.; Agromillora Group; Sacramento Valley Walnut Growers LLC; Guerra Nut Shelling Company; Kashmir Walnut Group; Empire Nut Company LLC; Stewart And Jasper Orchards; Valley Harvest Nut Company; GoldRiver Orchards Inc.; Montna Farms

The walnuts market report table of contents includes:

1. Executive Summary
2. Walnuts Market Characteristics
3. Walnuts Market Trends And Strategies
4. Walnuts Market – Macro Economic Scenario
5. Global Walnuts Market Size and Growth
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31. Global Walnuts Market Competitive Benchmarking
32. Global Walnuts Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Walnuts Market
34. Walnuts Market Future Outlook and Potential Analysis
35. Appendix

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