Macadamia Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.61 Billion |
| Market Size (2029) | USD 2.69 Billion |
| CAGR (2024 - 2029) | 10.88 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Macadamia Market Analysis
The Macadamia Market size is estimated at USD 1.61 billion in 2024, and is expected to reach USD 2.69 billion by 2029, growing at a CAGR of 10.88% during the forecast period (2024-2029).
- The market is growing faster with the importance of healthy eating habits and increased demand for plant-based protein foods. For instance, according to the Government of Canada, the protein demand is expected to reach 953.5 million metric tons by 2025, which includes a 14% of annual increase in plant-based proteins. This increase in dependency is becoming a driving factor for the market. The pandemic further boosted it. Consumers are more frequently choosing nuts as a healthy snack option and incorporating them into their daily diets resulting in healthy market growth over the long term.
- Additionally, organic macadamia is gaining popularity on the consumption side, with increasing demand coming from European countries. The wide application of processed macadamia in different industrial segments, such as the food and beverage and cosmetics and personal care industries, is also augmenting the growth of these nuts in the global market.
- Moreover, South Africa, Australia, Kenya, China, and Hawaii in the United States are the largest macadamia producers in the world. As reported by the Australian Macadamia Society, favorable weather conditions, with most regions receiving good rains, resulted in sound production in 2021. In contrast, adverse conditions during flowering and early nut development, mature orchards, pruning, and insects and diseases led to declined macadamia crops in South Africa in 2021. Therefore, the increased usage and growing production of macadamia is contributing to the market's growth in the coming years.
Macadamia Market Trends
This section covers the major market trends shaping the Macadamia Market according to our research experts:
Increase in Government Initiatives is Supporting Macadamia Production and Trade
The rising commodity demand and the supply shortage in the global market lead to discrepancies in the demand-supply commodity situation, because of which there is a dire need for investments in the industry and contributions from government organizations. It may also act as a growth catalyst for market development. For instance, the Hawaii Macadamia Nut Association researched nutrient management and leaf sampling, integrated pest management, orchard floor, canopy management, micronutrient management, and many more. One such project was on fertilizing macadamia, which included all the critical factors affecting fertilizing, important soils in macadamia nuts, determining the nutrient status, soil analysis, tissue concentration for bearing macadamia nuts, and other factors.
Along with this, in 2021, Digital Transformation Grant is a project under Queensland's Economic Recovery Plan that will facilitate the Australian Macadamias Society, which would use its USD 58,620 grant on this project. This project is to improve microclimate monitoring and digital data for decision-making in the macadamia industry. Moreover, the under another project, a grant of USD 118,960 will help with the installation of weather stations and sensors, the creation of a new online dashboard platform for growers, and provide instructional programs to farmers, farm laborers, liaison officers, and research personnel. Therefore, this program immediately impacts the macadamia business, assisting it in reaching a fast-expanding client base.
These government initiatives are a driving factor for increased production in the major producing countries. For instance, according to International Nut & Dried Fruit Council, in 2021, the production of macadamia in South Africa, Australia, Kenya, and China stood at 54,174, 48,500, 38,500, and 32,000 metric tons, respectively. Therefore, an increase in demand is giving rise to production, aided by government support, and is further expected to market growth in the forecast period.
Australia is Expected to be the Fastest-growing Market for Macadamia Nuts
The Australian macadamia crops have grown steadily over the years, mainly driven by sustained investment in productivity improvements and doubling the export of tree nuts. For instance, Australian macadamia producers invest USD 2 million annually in cutting-edge research and development. They are also dedicated to protecting the natural resources that support the country's world-class products. These investments are raising macadamia production. According to the International Nut & Dried Fruit Council, the country's macadamia production accounted for 48,500 metric tons in 2021, which increased from 46,900 metric tons in 2020.
Along with this, macadamia is native to Australia and is predominantly grown in northern New South Wales and Bundaberg. Nevertheless, these nuts are also produced in the Northern Rivers. The expansion was recorded across all growing regions, including relatively newer areas such as Emerald north of Bundaberg and Yamba south of Ballina, which fuelled the macadamia nuts production in the country. Additionally, according to the Australian Macadamia Society, more than 700 growers spread over three states in Australia and produce approximately 50,000 metric tons per year. 70% of the macadamia harvest is exported to more than 40 nations. The major export markets are Japan, Korea, Taiwan, China, Europe, and North America.
Moreover, Australian macadamia is the most sought-after worldwide, with 75% of the country's production being exported overseas. Macadamias are Australia's fourth largest horticultural export. In 2020, the Australian Macadamia Society estimated the farm gate value of macadamia production to be USD 293 million, with a five-year average production of approximately 46 thousand metric tons. The changing consumer preferences toward nutritious diets, coupled with the growing importance of macadamia nuts in the international markets, are likely to drive the demand for macadamia nuts. Therefore, the growers' investments in research and development are increasing production, thereby raising the export market and contributing to the market growth in the forecast period.
Macadamia Market News
- April 2022: Golden Macadamias South African cooperative business invested in TOMRA 5C sorting machine with Biometric Signature Identification technology. This machine is a high-end optical sorting device for nut and dried fruit applications. It helps in attaining the highest product quality with large production volumes of macadamias.
- March 2022: Milkadamia company launched a new macadamia nut oil milk product at Natural Products Expo West. This milk is available in salted caramel and pumpkin pie varieties.
- January 2022: The World Macadamia Organisation based in China launched the organization's First Consumer Marketing Campaign to promote the role of macadamias by showing the ritual of cracking nut-in-shell macadamias during particular moments of Chinese Festivals like Chinese New Year.
Macadamia Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Value Chain Analysis
5. MARKET SEGMENTATION
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5.1 Geography - Production Analysis(Volume), Consumption Analysis (Value and Volume), Import Analysis (Value and Volume), Export Analysis (Value and Volume), and Price Trend Analysis
- 5.1.1 United States
- 5.1.2 Canada
- 5.1.3 Guatemala
- 5.1.4 Brazil
- 5.1.5 Germany
- 5.1.6 Netherlands
- 5.1.7 China
- 5.1.8 Japan
- 5.1.9 Vietnam
- 5.1.10 Australia
- 5.1.11 South Africa
- 5.1.12 Kenya
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityMacadamia Industry Segmentation
Macadamia is a genus of four tree species indigenous to Australia and constituting part of the plant family Proteaceae. Macadamia nuts are native to northeastern New South Wales and central and southeastern Queensland. The Macadamia Market is segmented by geography (United States, Canada, Guatemala, Germany, Netherlands, China, Australia, Japan, Vietnam, Brazil, South Africa, and Kenya). The report includes the Production Analysis (volume), consumption analysis (value and volume), export analysis (value and volume), import analysis (value and volume), and price trend analysis. The report offers market estimation and forecast in value (USD thousand) and volume (metric ton).
| Geography - Production Analysis(Volume), Consumption Analysis (Value and Volume), Import Analysis (Value and Volume), Export Analysis (Value and Volume), and Price Trend Analysis | United States |
| Canada | |
| Guatemala | |
| Brazil | |
| Germany | |
| Netherlands | |
| China | |
| Japan | |
| Vietnam | |
| Australia | |
| South Africa | |
| Kenya |
Macadamia Market Research FAQs
How big is the Macadamia Market?
The Macadamia Market size is expected to reach USD 1.61 billion in 2024 and grow at a CAGR of 10.88% to reach USD 2.69 billion by 2029.
What is the current Macadamia Market size?
In 2024, the Macadamia Market size is expected to reach USD 1.61 billion.
Which is the fastest growing region in Macadamia Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Macadamia Market?
In 2024, the North America accounts for the largest market share in Macadamia Market.
What years does this Macadamia Market cover, and what was the market size in 2023?
In 2023, the Macadamia Market size was estimated at USD 1.45 billion. The report covers the Macadamia Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Macadamia Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the major distribution channels for Macadamia Nuts?
The major distribution channels for Macadamia Nuts are a) Supermarkets b) Online retailers c) Bulk food stores d) Potential for direct-to-consumer sales
Macadamia Nuts Industry Report
The global macadamia nut market is experiencing robust growth, driven by escalating consumer awareness about the health benefits and a widespread shift towards plant-based diets. These nuts are favored for their versatility across the food, beverage, and cosmetic sectors, enhancing their demand globally. With a diverse range of products including raw, roasted, and coated macadamias, the market caters to various consumer preferences for textures and flavors. Organic macadamias are particularly gaining traction due to their nutrient-rich profile and sustainable production methods. The market sees dynamic distribution both online and offline, with e-commerce platforms rapidly growing due to their convenience and extensive product selections. North America and Europe are leading in macadamia consumption, incorporating these nuts more into health-based foods and gourmet snacks. The Asia Pacific region also marks significant growth due to higher health awareness and rising disposable incomes, promoting healthier diets. For deeper insights into macadamia production by country and detailed market forecast outlooks, a free report PDF download is available from Mordor Intelligence™ Industry Reports.
