Pecans are tree nut crops that are known for their buttery flavour and healthy attributes. The market of pecans is witnessing an upsurge with the rise in product adoption. Persistence Market Research (PMR) highlights the growth trajectory of the global pecans market in a new report titled ‘Pecan Market: Global Industry Analysis 2013 – 2017 and Forecast 2018 – 2026’. Revenue growth of the global market is primarily driven by a rise in acceptance of pecans in many application areas, and also by the growing awareness about the various health benefits of pecans. According to the outcomes of PMR’s in-depth research, the global pecan market is expected to hold a market value of over US$ 1,700 Mn in 2018, and reach a valuation of over US$ 3,000 Mn by the end of 2026. The global market is anticipated to witness a growth rate of 6.9% during the forecast period 2018 – 2026.
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What’s Trending the Global Market for Pecans?
Lately, people are becoming increasingly aware of the various health benefits associated with pecans. The presence of minerals, vitamins, and antioxidants makes pecans gain more likelihood of application in various industries such as household, commercial and industrial. The pecan market is gradually expanding in non-traditional regions such as China, South Africa, Vietnam, Mexico, etc. There is also a boost in the export of pecans especially by China. The demand for pecans is rapidly expanding across the world, which has improved the production capacity as well as import base.
Some of the other trends that have helped augment market growth include pecans being used as a substitute to other expensive nuts. Some of the expensive nuts like pistachios are being replaced by pecans, which are quite similar in taste and nutritional value but less expensive. Pecans are the ideal nut for consumption by middle or lower income families. As more people become aware of these trends, the global pecan market is expected to witness a leap in the foreseeable future.
Pecan Market: Segmental Analysis
The global market comprises pecans of both organic and conventional nature. Segmental analysis of the global pecan market reveals that conventional pecans hold a much higher market value currently; however, organic pecans are expected to surpass this growth and witness higher demand in the upcoming years. It is also expected that the use of pecans will be higher by households in the coming years, while the current consumption is higher in the industrial segment.
Among the regional pecan markets, North America currently holds the highest market value and is projected to reach a valuation of more than US$ 1,400 Mn by the end of 2026. In terms of growth rate, APAC is expected to witness an impressive growth rate with the highest regional CAGR of 9.4% during the forecast period.
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Companies Dominating the Global Pecan Market
This comprehensive research report presents a brief profile of all the leading companies operating in the global pecan market. A section on the company profiles includes a SWOT analysis, helping readers obtain a clear picture of the current level of competition prevalent in the global market. Some of the leading companies mentioned in the report include Missouri Northern Peccan Manufacturers, Farmers Investment Co., The Kraft Heinz Company, and Sahale Snacks.