Global Pecan market is valued at USD 1710 Million in 2018 and expected to reach USD 2728 Million by 2025 with the CAGR of 6.9% over the forecast period.
The growth of the global Pecan market is driven by factors such as increasing consumer awareness regarding their health benefits and Rising Demand for Plant-based Food Products
A pecan is a tree that grows nuts also known as pecans. These hard-shelled nuts are similar to walnuts and used for sweet treats like praline candy and pecan tart. Pecans provide phytonutrients, plant-based compounds that have powerful antioxidant benefits. Pecans are excellent sources of manganese and copper, two minerals that boost overall metabolic health may contain anti-inflammatory properties and potentially help reduce risk of heart disease. The added benefit is nutrients have shown promise specifically in preventing in high blood pressure. Pecan nuts are an excellent source of vitamin-E, vitamin-A, zinc, folate and phosphorous which play an important role in continuing good skin. Also Pecan-based food products are currently trending, as they have become one of the preferred nuts among health-conscious consumers.
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Global Pecan market report is segmented on the basis of type and application. Based upon type Pecan is classified into Nuts, Oil and Flour. Based upon application Pecan is classified into Households, Commercial, Industrial, Food Industry, Cosmetics and Personal Care, Dietary Supplements and Functional Food and Others.
Global Pecan market Report covers prominent players are like,
Navarro Pecan, Cane River Pecan, Hudson Pecan, Kalahari Desert Products, The Archer Daniels Midland, Missouri Northern Pecan Growers, Farmers Investment, Stahmann Farms Enterprises, John B. Sanfilippo and Son, The Kraft Heinz, Diamond Foods, Sahale Snacks, Guidry Organic Farms, Lamar Pecan, New Aces, Atwell Pecan, Pecan Argentina, Ellis Bros Pecans, Royalty Pecan Farms, Merritt Pecan , other
The regions covered in this global Pecan market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level market of Pecan is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Pecan market Segmentation –
By Type: Nuts, Oil, Flour
By Application: Households, Commercial, Industrial, Food Industry, Cosmetics and Personal Care, Dietary Supplements and Functional Food, Others
The growth of the global Pecan market is driven by factors such as increasing consumer awareness regarding their health benefits and Rising Demand for Plant-based Food Products.
The growth of the global Pecan market is driven by factors such as increasing consumer awareness regarding their health benefits and Rising Demand for Plant-based Food Products. As the availability of other healthy nuts, pecan is still emerging as a healthy source for consumers. Pecan-based food products are currently trending, as they have become one of the favored nuts among health-conscious consumers. For instance, pecan-based products such as pecan muffins, pecan biscuits and many other pecan-based bakery products are becoming popular as a part of healthy diets. According to National Agricultural Statistics Service, in 2019, the value of the crop totaled USD469 million, up 14 percent for comparable States from the previous season with an average annual price of USD1.77 per pound. Improved variety pecan production, at 242 million pounds, increased 10 percent for comparable States from the previous year. Growing Demand for Plant-based Food Products is expected to drive the growth of Pecan market. Pecan-based products such as pecan muffins, pecan biscuits and many other pecan-based bakery products are becoming popular as a part of healthy diets. As the health and nutrition factor would continue to dominate consumer food preferences. According to National Center for Biotechnology Information, Current protein demand for the 7.3 billion inhabitants of the world is approximately 202 million tones globally. The production scope, cost structure is influencing the growth of Pecan market. Innovation and new product development can provide a growth opportunity for the growth of Pecan Market.
North America is dominating the Pecan Market
North America is expected to dominate the growth of Pecan Market. The health and nutrition factor would continue to dominate consumer food preferences, rising pecan consumption is expected to drive the pecan market in North America. According to United States Department of Agriculture (USDA), variety pecans accounted for 92 percent of the United States total pecan production. Native and seedling variety production totaled 22 million pounds, up significantly for comparable States from 2018. New Mexico had the highest utilized production at 96.6 million pounds, followed by Georgia at 69.0 million pounds. Europe is second largest region for the growth of Pecan Market, due to rising consumer demand for pecan based products. Europe has seen a rise in the consumption of shelled pecans. Increasing number of customers is turning to healthy eating, and nutritious nuts are emerging as a major source of healthy food, which includes pecans. In Asia pacific, the demand for pecans is increasing at high rate, compelling producers in the country to boost their production capacities and also explore opportunities to expand Pecan Market.
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