To meet this growing demand, production in all countries has been growing steadily. As demand for nuts is increasing due to flavor and preference, interest in nut products is particularly strong in these categories. Analysts at Rabo AgriFinance have published a five-year outlook for walnuts, and the market seems to be flattening out after record growth. However, there are promising signs for long-term market opportunities, despite a tumultuous year for port congestion, supply chain contraction and a drought that could deepen.
The California Walnut Commission, established in 1987, is funded through mandatory producer assessments. Walnuts consist of two halves contained within a hard shell that is enclosed in green fruit and is a large wrinkled edible seed of a deciduous tree. Asia is expected to become a major player at the end of the forecast period, with a significant CAGR attributed to the increase in per capita nut consumption in the region. Interestingly, nut consumers tend to be more outgoing and adventurous when it comes to trying new foods and eating healthy.
The shelled nut segment is likely to be the most attractive segment in the forecast period due to increased use of walnut meats in several end-user industries. A positive aspect of the growing competition is that having more good quality nuts could increase demand. Continuously growing population, growing demand for convenience foods and consumers' willingness to spend more on healthy, quality food, leading to an increase in demand for nuts. Inc, Poindexter Nut Company, Andersen Shelling Inc, Webster Limited, California Walnut Company, Kashmir Walnut Group, Mariani Nut Company Inc, Morada Produce Company L.
The global walnut market is experiencing strong growth due to increasing disposable incomes of the population, along with increasing walnut consumption. Walnut is actually a quality, natural product with numerous health benefits for most industries and cultures around the world. The California Walnut Board was established in 1948 to represent California walnut growers and handlers. Growing demand for walnuts due to their nutritional qualities for the personal care and cosmetic industry is expected to boost the global nut market.
Increased competition for walnuts could drive new collaborations with some Chilean exporters, allowing the industry to grow and expand into new markets, benefiting food manufacturers and retailers with a more reliable supply. At the regional level, a broad buyer base and a nut-as-a-bite culture will help the Asia-Pacific (APAC) locality graphically represent a critical CAGR over the time period of the conjecture.
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