Macadamia Market Size (2024 - 2029)

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 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).