Packaged Pistachio Market Is The Largest Segment Driving The Growth Of Pistachio Market
The global Pistachio Market is estimated to be valued at US$ 46.49 Mn or Mn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Pistachios are a type of edible nuts known for their nutritional value and flavor. They are rich in healthy fats, proteins, vitamins and minerals. The packaged pistachio segment dominates the market owing to ease of use and longer shelf life of packaged products.
Market key trends:
One of the key trends in the pistachio market is the rising popularity of flavored pistachios. Manufacturers are introducing innovative flavors such as salted caramel, chocolate coated, berry Blast etc. to cater to changing consumer preferences. This is positively impacting the growth of pistachio market. Furthermore, the increasing awareness about health benefits of pistachios is another major trend driving its demand. Pistachios are considered a superfood owing to their antioxidant and anti-inflammatory properties. The nut also helps in maintaining heart, brain and gut health.
Market key trends:
The global pistachio market has been witnessing rising popularity and demand over the past few years. Pistachios are increasingly being used in baked goods, snacks, and desserts due to their rich flavor and health benefits. The demand for nutrient-dense snacks is growing significantly among health-conscious consumers. Pistachios are packed with nutrients like protein, fiber, vitamins, and minerals. They are also known to have beneficial properties for heart health, digestion, and weight management. The increased awareness about these benefits is driving more people to include pistachios in their diet.
SWOT Analysis
Strength: Pistachios are highly nutritious with a good nutritional profile. They are a good source of protein, fiber, antioxidants, and various vitamins and minerals.
Weakness: Pistachio cultivation is limited to specific geographical regions and dependent on climatic conditions. Production can witness fluctuations due to weather changes.
Opportunity: Increasing health consciousness is raising the demand for healthy and nutritious snacks. Pistachios present a great opportunity to capitalize on this trend. Rise in per capita income also allows consumers to spend more on better quality foods.
Threats: Pistachios have to compete with other popular nuts in the market. Price fluctuations of raw pistachios affect the profits of processors and retailers. Pests and diseases can damage crops and disrupt supply.
Key Takeaways
Global Pistachio Market Size is expected to witness high growth, exhibiting CAGR of 3.7% over the forecast period of 2023 to 2030. The market size for 2023 is US$ 46.49 Mn.
The regional analysis indicates that Iran, the United States, and Turkey collectively account for over 85% of global pistachio production. The United States represents the largest market for pistachios globally, followed by Iran. The pistachio market in the U.S. is growing at a significant rate due to rising demand from the snack and bakery industries.
Key players operating in the pistachio market are The Wonderful Company LLC, Germack Pistachio Company, Primex Farms, LLC, Horizon Growers, Nichols Pistachio, Keenan Farms and Setton Pistachio of Terra Bella Inc. Other players are Santa Barbara Pistachio Company, Hellas Farms LLC, Del Alba International and Ready Roast Nut Company. The Wonderful Company owns several leading brands including Wonderful, Late July, and POM Wonderful. It dominates over 40% of global pistachio supply.
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