Pecans Market Report 2024, Share, Growth, Size and Forecast Till 2032

The latest report by IMARC Group, titled “Pecans Market Report by Type (Raw, Processed, and Others), Application (Household, Commercial, Food Industry, Cosmetic and Personal Care, and Others), and Region 2024-2032“, The global pecans market size reached US$ 2.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2024-2032.

Factors Affecting the Growth of the Pecans Industry:

Rising Demand for Plant-Based Diets:

The rising demand for plant-based diets is driving the popularity of pecans, as they offer a nutrient-dense, plant-based protein source that fits seamlessly into vegetarian and vegan lifestyles. As more consumers shift away from animal products in favor of plant-based alternatives, they are widely seeking foods that are versatile and nutritious. Additionally, pecans, with their rich content of healthy fats, proteins, and essential nutrients, provide an ideal option. They can be easily incorporated into numerous meals, from salads and smoothies to main dishes and desserts, making them a staple in plant-based kitchens. Besides, as awareness regarding the environmental and health benefits of plant-based diets continues to grow, pecans are gaining recognition for their taste and for their role in supporting a sustainable and healthy diet across the globe.

Expansion in Food Products:

Pecans are experiencing rising demand due to their increasing use in numerous food products. The versatility of pecans has led to their incorporation into a broader array of food items, including snacks, granolas, baked goods, and even plant-based dairy alternatives like pecan milk and cheese. This diversification of uses is expanding the market for pecans, as food manufacturers recognize their potential to enhance flavor, texture, and nutritional value in various products. The nut's rich, buttery flavor makes it a popular ingredient in sweet and savory dishes, while its health benefits appeal to consumers seeking nutritious options. Furthermore, the trend toward clean eating and whole foods is driving the inclusion of pecans in minimally processed products, further propelling their market appeal. As consumers continue to explore new and innovative food products, the demand for pecans is expected to influence market growth.

Growing Popularity of Organic Farming:

The increasing popularity of organic and sustainable farming practices is positively influencing the demand for pecans, which are well-suited to organic cultivation. As consumers become more conscious of the environmental impact of their food choices, there is a growing preference for products that are grown with minimal chemical inputs and in an environmentally friendly manner. Additionally, pecans, being a native crop to regions like the southern United States, can be cultivated with fewer pesticides and fertilizers compared to other agricultural products, making them an attractive option for organic farming. Moreover, the rise in demand for organic products, driven by health and environmental concerns, has created a niche market for organic pecans, which command a premium price. This trend supports the growth of the pecan industry and aligns with broader consumer preferences for sustainably sourced, organic foods across the globe.

Competitive Landscape with Key Player:

Debbie Roy Brokerage Company Inc.

Diamond Foods LLC (Blue Road Capital)

Durden Pecan Co

Ellis Bros. Pecans Inc.

Guidry Organic Farms L.L.C.

Hudson Pecan Co. Inc.

John B. Sanfilippo And Son

Lamar Pecan Company LLC

Merritt Pecan Company Inc

Royalty Pecan Farms LLC

The Alabama Pecan Company LLC

The Great San Saba River Pecan Company Inc (Chase Farms)

Whaley Pecan Company Inc.

Wharton Ranch Inc.

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Report Segmentation:

The report has segmented the market into the following categories:

Type Insights:

Raw

Processed

Others

Raw represents the largest segment due to their versatility and preference for their natural flavor in a wide range of culinary uses.

Application Insights:

Household

Commercial

Food Industry

Cosmetic and Personal Care

Others

The food industry accounts for the largest market share due to the increasing demand for pecans in snacks, baking, and cooking, where their flavor and texture are highly valued.

Market Breakup by Region:

North America (United States, Canada)

Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)

Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

Latin America (Brazil, Mexico, Others)

Middle East and Africa

North America’s dominance in the pecans market is attributed to its extensive pecan production in the U.S. and Mexico, coupled with strong domestic consumption and export demand.

Global Pecans Market Trends:

At present, consumers are aware about the health benefits of nuts, including pecans. It is rich in antioxidants, vitamins, and healthy fats, and gaining popularity as a nutritious snack and ingredient in various diets which is escalating the demand in traditional and emerging markets. Moreover, the market is witnessing various innovative pecan products, such as flavored nuts, pecan-based snacks, and pecan-based butter. These new offerings cater to diverse consumer preferences and expand the market. Furthermore, pecans are widely used in a range of food and beverage products, from baked goods to salads and desserts due to their versatility which is influencing the market growth.

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