report-image

Global Pecans Market Analysis by Type, Application and Region-Value (USD Million) Volume (K Tons) and Forecast

  • PUBLISHED ON
  • 4/19/2023
  • NO OF PAGES
  • 276
  • CATEGORY
  • Food & Beverages
Market Overview
In terms of value, pecans market is anticipated to reach 5,474.2 US$ Mn by 2033 from 2,447.9 US$ Mn in 2022, registering the growth rate at 9.35% during the forecast period. The market for pecans is primarily driven by the adoption of healthy eating trends, particularly the growing acceptance of plant-based sources of protein.

Report Scope

Report Attributes

Description

Market Size in 2022 (Value)

USD 2,450 Million

Market Size in 2022 (Volume)

212.2 K tons

Market Forecast in 2031 (Value)

USD 5,476

Market Forecast in 2031 (Volume)

448 K Tons

CAGR % 2023-2031 (Value)

9.4%

CAGR % 2023-2031 (Volume)

8.7%

Base Year

2022

Historic Data

2019-2021

Forecast Period

2023-2033

Report USP

Production, Consumption, company share, company heatmap, company production capacity, growth factors and more

Segments Covered

Type and Application

Regional Scope

North America, Europe, APAC, South America and Middle East and Africa

Country Scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria

Key Companies

Royalty Pecan Farms, Merritt Pecan, Inc., Whaley Pecan Company, NAVARRO PECAN COMPANY INC., CANE RIVER PECAN COMPANY, Hudson Pecan, Missouri Northern Pecan Growers, LLC, FICO / Green Valley Pecan Company, Stahmanns Inc., JOHN B. SANFILIPPO & SON, INC., Golden Peanut and Tree Nuts, South Georgia Pecan Co., Diamond Foods, Sahale Snacks, Inc., Guidry Organic Farms, Lamar Pecan Company, Lane Southern Orchards, Atwell Pecan Co., Inc (Stuckey’s Corp), Pecan Argentina, Oliver Pecan Co,



Segments Covered Type and Application

Key Companies
  • Royalty Pecan Farms
  • Merritt Pecan, Inc.
  • Whaley Pecan Company
  • NAVARRO PECAN COMPANY INC.
  • CANE RIVER PECAN COMPANY
  • Hudson Pecan
  • Missouri Northern Pecan Growers
  • LLC, FICO / Green Valley Pecan Company
  • Stahmanns Inc.
  • JOHN B. SANFILIPPO & SON, INC.
  • Golden Peanut and Tree Nuts
  • South Georgia Pecan Co.
  • Diamond Foods
  • Sahale Snacks, Inc.
  • Guidry Organic Farms
  • Lamar Pecan Company
  • Lane Southern Orchards
  • Atwell Pecan Co. Inc (Stuckey’s Corp)
  • Pecan Argentina
  • Oliver Pecan Co

By Product Type

  • Nuts
  • Oil
  • Flour

By Application

  • Household
  • Commercial
  • Food Industry
  • Cosmetics and Personal Care
  • Others
By Region
North America
• U.S.
• Canada
• Mexico
Europe
• Germany
• U.K.
• France
• Italy
• Russia
• Rest of Europe
Asia Pacific
• China
• Japan
• India
• Australia
• Rest of Asia pacific
South America
• Brazil
• Argentina
• Colombia
• Rest of South America
Middle East & Africa
• UAE
• KSA
• South Africa
• Turkey
• Rest Of MEA

Regional Scope North America, Europe, APAC, South America and Middle East and Africa
Country Scope U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria

In terms of volume, pecans market is anticipated to reach 448.7 K Tons by 2033 from 212.0 K Tons in 2022, registering the growth rate at 8.68% during the forecast period. Pecan is still establishing itself as a healthy source for consumers, even with the availability of other beneficial nuts. Pecan-based foods are popular right now because health-conscious customers now choose them over other nuts.
Pecan has 14 different types of vitamins and minerals in every serving, which significantly contributes to the nutritional profile of the nut. Strong natural dietary antioxidants and sources of protein are additional components enriching the nutritional profile of pecans. Furthermore, some of the supposed health benefits of pecans include reduced risk pf cardiovascular ailments, weight loss, digestion improvement, decreased cancer risks along with anti-inflammatory and immunity benefits.
Pecan is still establishing itself as a healthy source for consumers, even with the availability of other beneficial nuts. As one of the favorite nuts among health-conscious customers, pecans are currently prominent in food trends. For instance, pecan-based items such as pecan muffins, pecan biscuits, and other pecan-based bakery products are becoming popular as a part of the healthy dietary trends. Rising pecan consumption is anticipated to boost the pecan market over the upcoming years as the health and nutrition aspect of consumer food choices would continue to dominate.

Impact of COVID
Since World War II, the COVID-19 pandemic has posed the biggest humanitarian threat to humanity. Governments are trying to curb the spread of the virus, but it has already spread extensively and the number of cases is increased everyday. Due to the entire shutdown of businesses in all areas, the economy was paralyzed.
Despite the fact that agricultural operations were excluded, the agriculture value chain experienced significant interruptions during the early stages of the lockdown. The production and consumption patterns for pecans may change as a result of the COVID-19 pandemic in both the short and long terms. Short-term supply chain losses might rise as a result of demand reduction and logistical impediments.
It has been seen that COVID-19 has an effect on the entire process from the field to the customer when looking at the food supply chain, one of the most significant sectors of the economy. There is currently a great deal of worry regarding food production, processing, distribution, and demand in light of recent issues in the food supply chain.
COVID-19 had a negative impact on the food supply chain financially and by restricting labor migration, altering consumer demand, closing food manufacturing facilities, and restricting food trade laws.
Disruption of trade across the globe was major barrier for pecans market during covid-19. Also imposition of lockdown across the globe by each and every country has reduced the consumer demand for the products.
However, several stores, households have did stock piling of the products which have maintained the significant demand for product during covid-pandemic.

Pricing Analysis

Average Selling Price (US$/Ton)

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

2031

North America

 11,382

 11,444

 11,502

 11,560

 11,626

 11,693

 11,762

 11,832

 11,905

 11,979

 12,055

 12,134

 12,215

Europe

 11,600

 11,666

 11,728

 11,791

 11,862

 11,935

 12,009

 12,085

 12,163

 12,243

 12,325

 12,410

 12,497

Asia Pacific

 11,044

 11,103

 11,158

 11,213

 11,276

 11,340

 11,405

 11,473

 11,542

 11,612

 11,685

 11,760

 11,836

Middle East and Africa

 11,492

 11,551

 11,606

 11,662

 11,725

 11,789

 11,854

 11,921

 11,990

 12,061

 12,133

 12,208

 12,285

South America

 10,792

 10,860

 10,924

 10,989

 11,062

 11,137

 11,213

 11,292

 11,372

 11,455

 11,540

 11,628

 11,718


 
Type Insights
In terms of Product Type, Nuts has dominated the market with significant share of 62.21% in 2022 and expected to reach a value of US$ 3,560.6 Mn by 2033. Followed to this, Oil segment captured around 28.09% of share in 2022 and anticipated to grow at CAGR 8.96% during forecast period.
Growing demand from households for raw nuts, salted processed nuts boosting the demand for nuts segment in the global market. Also different types of product categories are emerging in the market which also favorable for nuts segment. Due to increasing health awareness regarding health benefits of the pecans surging the demand for pecans oil market. Emerging countries across Asia Pacific region also have huge market opportunities for pecans in coming years.

Application Insights
In terms of Application, Food industry has dominated the market with significant share of 34.27% in 2022 and expected to reach a value of US$ 2,063.9 Mn by 2033. Followed to this, Household segment captured around 18.83% of share in 2022 and anticipated to grow at CAGR 10.06% during forecast period.
Despite the availability of alternative healthful nuts, pecan is still establishing itself as a source for customers. Pecans are a popular nut among consumers who are concerned about their health, and they are now popular in culinary trends. For instance, as part of the healthy eating trends, pecan-based foods like pecan muffins, pecan biscuits, and other bakery products are becoming more and more well-liked. This factor majorly boosting the demand for pecans in food industry segment which anticipated to remain dominated the global market.
 
Regional Insights
In terms of region, North America accounted for 68.42% share of the market in 2022 and expected to reach a value of US$ 3,923.0 Mn by 2033. Because the US market, which produces approximately 80% of the world's pecans, has increased its output, pecan nuts are now more widely available. Mexico also have major share in the production and consumption of the pecans.
The pecan industry is expected to grow in the next years as consumer food choices will continue to be dominated by health and nutrition considerations. Followed to the North America, Europe and Asia Pacific holds significant share in the global pecans market. Asia Pacific is anticipated to grow at CAGR 9.64% during forecast period. Rapid surge in production of Pecan across emerging countries is expected to drive the market growth.

Competitive Analysis
Some of the key players operating in the market are Royalty Pecan Farms, Merritt Pecan, Inc., Whaley Pecan Company, NAVARRO PECAN COMPANY INC., CANE RIVER PECAN COMPANY, Hudson Pecan, Missouri Northern Pecan Growers, LLC, FICO / Green Valley Pecan Company, Stahmanns Inc., JOHN B. SANFILIPPO & SON, INC., Golden Peanut and Tree Nuts, South Georgia Pecan Co., Diamond Foods, Sahale Snacks, Inc., Guidry Organic Farms, Lamar Pecan Company, Lane Southern Orchards, Atwell Pecan Co., Inc (Stuckey’s Corp), Pecan Argentina, Oliver Pecan Co,

Why to buy this Report?
The report provides quantitative and qualitative aspect for the market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.

The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
 Business Model
 Production Capacity, Revenue, Sales, Gross Margin
 Key Business Strategy
 SWOT Analysis

In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
 Company Share Analysis from 2018-2022
 Company Analysis by Revenue and Sales
 Company Production Capacity, Gross Margin
 Company Share Analysis by Application/End Use
 Company Share Analysis by Product/Specification

Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
  • Project kickoff meeting with client
  • Conduct frequent client communications
  • Form project steering committee
  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
  • Certify project staff in SR methodologies & standards
  • Monitor client satisfaction
  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.


Sample Request Customized Requirement Speak to Analyst Check Discount
CHOOSE LICENSE TYPE
QLOUD
Pricing

Select a license type that suits your business needs

Single User Access

US $4250

Only Four Thousand Two Hundred Fifty US dollar

Buy Now
  • 1 User access
  • 15% Additional Free Customization
  • Free Unlimited post-sale support
  • 100% Service Guarantee until achievement of ROI
Multi User Cost

US $5250

Only Five Thousand Two Hundred Fifty US dollar

Buy Now
  • 5 Users access
  • 25% Additional Free Customization
  • Access Report summaries for Free
  • Guaranteed service
  • Dedicated Account Manager
  • Discount of 20% on next purchase
  • Get personalized market brief from Lead Author
  • Printing of Report permitted
  • Discount of 20% on next purchase
  • 100% Service Guarantee until achievement of ROI
Enterprise User Cost

US $6250

Only Six Thousand Two Hundred Fifty US dollar

Buy Now
  • Unlimited User Access
  • 30% Additional Free Customization
  • Exclusive Previews to latest or upcoming reports
  • Discount of 30% on next purchase
  • 100% Service Guarantee until achievement of ROI