Albany, NY — 12/29/2017 — Market Introduction:
Walnuts are the edible seeds from the tree genus Juglans and are round in shape. The seeds contains significant amount of proteins, minerals and essential fatty acids such as omega-3 fatty acids, anti-oxidants etc. and are exclusively used in food industry. Walnuts has found a huge application in food industry, pharmaceutical industry, cosmetics and personal care, paints and chemicals etc. Walnuts are exclusively used as ingredients in sauces and condiments. Walnut oil has found application in various culinary preparations such as salads, chicken dishes, sea foods etc. Walnuts are assumed to reduce cancer and cardiac risks. Walnuts are also exclusively used in preparations of chocolates and bars. The endocarp of walnut is used in paints and tannins industry and has various other applications. China accounts for relatively high production of walnuts which is approximately half of the total world's production and is expected to remain dominant in terms of production over the forecast period. On the basis of consumption, China walnut market is expected to exhibit relatively high value share. Europe walnut market is expected to hold second position in terms of value by the end of year 2017.
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Global walnut market is expected to increase with significant value CAGR over the forecast period, owing to increasing application of walnuts in various industries among which, food industry holds the majority of share.
Walnut Market: Segmentation
Walnut market is segmented on the basis of nature, form, product type, applications, sales channel and region.
On the basis of nature, walnut market is segmented into organic and conventional. Organic segment of Walnut market is expected to witness relatively high growth over the forecast period, as it is assumed that organic products are more healthful as compared to conventional food products.
Walnut market is segmented on the basis of form into in-shell walnuts and walnut kernels. Walnut kernels are inner edible seed of walnut fruit which is processed by removing the endocarp or shell.
Walnut market is further segmented on the basis of product type into black walnut and English or Persian walnut. This differentiation is based on the appearance of walnuts.
On the basis of application, walnut market is segmented into food industry, pharmaceutical industry, cosmetics and personal care, paints and tannin industry and others. Food industry is sub-segmented into raw and processed sub-segments. The processed sub-segment is further divided into categories such as oil, butter, sauces & condiments, bakery & confectionery, and others.
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Walnut market is further segmented on the basis of sales channel into direct sales and retail sales. Retail sales is further sub-segmented into modern trade, convenience stores, specialty outlets, modern grocery stores, online retailing and other retailing formats. Modern trade segment is expected to exhibit relatively high value CAGR over the forecast period.
Walnut market: Drivers, Restraints, and Trends
Increasing health consciousness among individuals across the globe is expected to drive the growth of walnut market across the globe. Walnuts possess multiple nutrients, minerals, proteins as well as essential fatty acids, owing to which it is preferred by individuals. In many developed regions such as China, Europe, the U.S., walnut market is booming, owing to couple of reasons such as increasing awareness about healthy foods among individuals and increasing per capita disposable income. Millennial demographic of the world is increasingly inclined towards natural source of proteins and snacks which are clean label, which is a factor driving growth of walnut market. Changing lifestyles, health benefits regarding walnut consumption, increasing social awareness, is also expected to drive demand for Walnut. Because of all these factors, people are preferring to consume walnut, which is driving growth of the walnut market and this is expected to continue over the forecast period.
On the other side, climatic conditions could possibly affect the yield of walnuts, hence could be considered as a restraint, impeding the market's trajectory over the forecast period and affecting the growth of walnut market.
Walnut Market: Regional Outlook
On the basis of region, walnut market is segmented into five different regions: North America, Latin America, Europe, Asia Pacific and MEA. Among these regions, Asia-Pacific walnut market is expected to dominate with relatively high value share. China holds relatively high value of walnut market among the Asia-Pacific as well as global market. Europe and the U.S. is also expected to have the significant value share of walnut market, as both of these regions accounts for significant consumption of walnut. The Latin America Walnut market is expected to grow significantly over the forecast period. The MEA walnut market is also expected to increase with significant value CAGR over the forecast period. Iran accounts for approximately 13% of world's walnut production.
Walnut Market: Key Players
Some of the key players in Walnut market are California Walnut Company, Inc., Sacramento Valley Walnut Growers LLC., Crain Walnut Shelling, Inc., Royal Saffron Company, Kashmir Walnut Group, Webster Ltd, Diamond Foods, Borges India Private Limited and others.
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