Macadamia Nuts Market Size was valued at USD 0.8 billion in 2021. The macadamia nuts market industry is projected to grow from USD 0.9 billion in 2024 to USD 1.9 by 2030, exhibiting a compound annual growth rate (CAGR) of 11.20% during the forecast period (2024 - 2030). The increasing use of macadamia in industries such as personal care, pharmaceuticals, cosmetics, and food and beverages is the key market driver enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
A surge in demand for plant-based snacks will likely lead to a significant expansion in the macadamia nuts market. These nuts are harvested from macadamia trees and are widely cultivated in Australia, the United States, China, and several regions of Africa. High-income nations, including the United States, China, Canada, Japan, Australia, and France, consume a lot of macadamias. The International Nut & Dried Fruit Council reports that macadamia output has been steadily increasing over the previous ten years, reaching 62,800 metric tonnes in 2020, an increase of 4% over production levels in 2019. Health-conscious customers have been drawn to the diversity of macadamia-based snacks that are readily available, which has fueled the recent expansion of the market. The burgeoning plant-protein sector is developing new functional foods and value-added goods that replace animal proteins. The demand for macadamia nuts will increase due to the rise in plant-based proteins, as eating macadamia nuts is the best way to meet one's daily protein and fat requirements without consuming animal protein. Customers can keep their vegan diets without getting lactose sensitivity as a result. The market CAGR will expand due to the growing demand for plant-based snacks.
Figure 1: Production of macadamia in the Bundaberg region
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Furthermore, the public's increased awareness of the benefits of nuts for health has been a major driver of the industry's growth. Additionally, macadamia nuts are used to make the increasingly popular macadamia oil, which is popular with both consumers and businesses. The International Nut & Dried Fruit Organization claims that tree nut output has been rising rapidly over the past ten years, reaching over 5.3 million metric tonnes in season 2020/2021, up 15% from 2019/20 and 65% from ten years ago. Macadamia nuts have several advantages, including the fact that they are nutrient-rich, may improve heart health, are packed with antioxidants, and more. Because of these advantages, macadamia nuts are becoming much more popular, which will fuel the expansion of the macadamia industry.
Additionally, there is an urgent need for investments in the industry and support from government organizations because of the discrepancies in the demand-supply situation of the commodity caused by the rising demand and the lack of supply on the market, which may act as a growth catalyst for the market's development. For instance, the Hawaii Macadamia Nuts Association has researched various subjects, including micronutrient management, integrated pest control, orchard floor management, nutrient management, and leaf sampling.
However, the expansion of the market is predicted to be driven by an increase in demand for macadamia oil from the cosmetics sector. Because macadamia oil nourishes the skin and hair, it is increasingly used to create natural and organic cosmetics. The oil's high oleic and palmitoleic acid content makes it perfect for formulation in body lotions, sun care products, and anti-aging creams. Thus, it acts as another trend driving the growth of the macadamia nuts market revenue.
The macadamia nuts market segmentation, based on type, includes whole, halves, whole & half blends, chips, and others. The freshwater category held the majority share in 2021 regarding the macadamia nuts market revenue. The bakery & confectionery, snack, and other food processing businesses receive the majority of the whole macadamia nuts supply. Additionally, macadamia butter has recently gained popularity among consumers; therefore, butter and oil companies frequently purchase entire nuts.
The macadamia nuts market segmentation, is based on category, organic and conventional. The conventional segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Since conventional macadamia nuts are less expensive than organic ones, the general increase in nut consumption is increasing demand for them. Additionally, they are used to make macadamia oil, which is becoming more and more well-liked by both consumers and enterprises. Hence, increased consumption of these nuts positively impacts market growth.
Figure 2: Macadamia Nuts Market by Category, 2021 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The macadamia nuts market data has been segmented by application into food & beverage, personal care, and others. The food & beverage segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Snack, confectionery, bakery, dessert, and beverage producers use a lot of macadamia and components derived from it. Macadamia is a healthy and appealing component in various food and beverage items due to the natural availability of key nutrients and monosaturated fats.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific macadamia nuts market accounted for USD 0.32 billion in 2021 and is expected to exhibit a 40.60 % CAGR during the study period. The market is anticipated to be driven by rising consumer awareness of diets high in protein and nutrients and rising consumption of tree nuts in the region.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: MACADAMIA NUTS MARKET SHARE BY REGION 2021 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
North American macadamia nuts market accounts for the second-largest market share. An increase in the demand for these nuts in daily diet results from the high acceptability of a healthy lifestyle in this region. Additionally, a strong social trend toward health has helped the fitness business establish itself in this area. Further, the U.S. macadamia nuts market held the largest market share, and the Canada macadamia nuts market was the fastest-growing market in the North American region
The European macadamia nuts market is expected to grow at a substantial CAGR from 2022 to 2030. This increase is linked to the health benefits and appealing & distinctive flavor of macadamia nuts. Additionally, the market expansion in Europe is attributed to the increasing use of these nuts in the food processing sector. Some items that employ macadamia nuts as an ingredient are seeing the biggest growth in Europe, including fruit and nut bars, cereal and nutrition bars, and ice cream toppings. Moreover, U.K. macadamia nuts market held the largest market share, and the France macadamia nuts market was the fastest-growing market in the European region.
Major market players are spending a lot on R&D to increase their product lines, which will help the macadamia nuts industry grow even more. Market participants also take various strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, market developments, and collaboration with other organizations. Competitors in the industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market industry.
One of the primary business strategies manufacturers adopt in the macadamia nuts industry to benefit clients and expand the sector is manufacturing locally to reduce operating costs. The macadamia nuts industry has provided medicine with some of the most significant benefits in recent years. The macadamia nuts market major player such as Kenya Nut Company Ltd (Kenya), MacFarms (U.S.), MWT Foods Australia (Australia), Alimentos Selectos S.A. (Guatemala), Mauna Loa Macadamia Nuts Corp (U.S.), Royal Macadamia (Pty) Ltd (South Africa), Nambucca Macnuts Pty Ltd (U.S.), Wondaree Macadamias (Australia), Hamakua Macadamia Nuts Co Inc. (U.S.) and Golden Macadamias (South Africa).
The MacFarms Macadamia Orchard is located on Hawaii's Big Island. The largest macadamia plantation in the world, the Kapua Ranch Orchard, includes over 250,000 trees. To bring you the highest quality macadamias in the world, straight from Hawaii, our nuts are hand-selected and freshly cracked on location. In 2019, a new range of confectionary snacks for the on-the-go has been introduced by MacFarms that combines the rich, butterflied flavor of responsibly cultivated macadamia nuts with dark chocolate, caramel, and coconut candy coatings.
Also, the factory of Royal Macadamia (Pty) Ltd., which was founded in 1996 by seven macadamia nuts farmers, is located in the South African province of Limpopo's Levubu district. In February 2019, the Royal Hawaiian Orchards (RHO) brand was acquired by the Health and Plant Protein Group Limited. MacFarms LLC and RHO would produce over 65% of the macadamias in the USA. Additionally, RHO would increase its stake in Buderim, and long-term agreements that would guarantee the security and origin of the supply would increase the likelihood of developing cooperative processing facilities in Hawaii.
Macadamia Nuts Industry Developments
June 2021: Frozen Matcha Treat is the seventh flavor created in collaboration with Hawaiian Host and Uncle's Ice Cream. The company intended this launch to highlight Uncle's Japanese Matcha ice cream and their Matcha Green Tea macadamia treats from their premium Paradise Collection. The companies linked up to launch their newest product because their initial partnership was a big success.
January 2020: Uncle's Ice Cream and Hawaiian Host collaborated. The businesses would work together to include the best local ingredients in their goods, such as sandwiches with macadamia nuts spread.
| Report Attribute/Metric | Details |
| Market Size 2021 | USD 0.8 Billion |
| Market Size 2024 | USD 0.9 Billion |
| Market Size 2030 | USD 1.9 Billion |
| Compound Annual Growth Rate (CAGR) | 11.20% (2024-2030) |
| Base Year | 2021 |
| Forecast Period | 2024-2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Category, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Kenya Nut Company Ltd (Kenya), MacFarms (U.S.), MWT Foods Australia (Australia), Alimentos Selectos S.A. (Guatemala), Mauna Loa Macadamia Nuts Corp (U.S.) and Royal Macadamia (Pty) Ltd (South Africa) |
| Key Market Opportunities | Surge in demand for plant-based snacks Public's increased awareness of the benefits of nuts for health |
| Key Market Dynamics | Increasing use of macadamia in industries such as personal care, pharmaceuticals, and cosmetics, and food and beverages |
Macadamia Nuts Market Highlights:
Frequently Asked Questions (FAQ) :
The market size was expected to be USD 0.8 billion in 2021
The market is expected to register a CAGR of ~11.20% over the next ten years.
Asia-Pacific held the largest market share in the market.
Kenya Nut Company Ltd (Kenya), MacFarms (U.S.), MWT Foods Australia (Australia), Alimentos Selectos S.A. (Guatemala), Mauna Loa Macadamia Nuts Corp (U.S.) and Royal Macadamia (Pty) Ltd (South Africa) are the key players in the industry.
The whole category led the type segment in the market.
Food & beverages category had the largest market share in the market.
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