Rockville , Dec. 07, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global Pecan Market is estimated at a value of US$ 2.02 billion in 2024 and is predicted to advance at a noteworthy CAGR of 6.1% from 2024 to 2034. The pecan market is a fascinating terrain that combines agriculture, business, and culinary arts.
Pecans have earned a position in the global market as highly sought-after nuts due to their rich, buttery flavor and versatility. Cultivation, harvesting, processing, and distribution of pecans contribute to their importance in a range of industries.
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Key Segments of Pecan Industry Research Report
| By Product Type | By Form | By End Use | By Distribution Channel | By Region |
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Pecans are an important product in international trade in addition to being a culinary delight. The pecan market is driven by factors such as supply and demand, climatic conditions that affect crop productivity, and worldwide trade policies. Harvesting pecans necessitates rigorous preparation and time-consuming procedures. Use of professional labor to ensure a successful harvest while preserving the quality of the nuts is essential. Mechanical shakers, tree shakers, and other specialized equipment aid in the effective collection of pecans while minimizing tree damage.
Pecans have more and more popular in industries such as food and beverages, cosmetics, and pharmaceuticals. The market is shifting toward more sustainable and organic techniques. Consumers are increasingly looking for ethically sourced and sustainably produced pecans, which has resulted in an increase in certifications and labels indicating responsible farming techniques. To accommodate rising demand while preserving product quality, industry players are concentrating on technological developments and sustainable practices. Growing popularity of plant-based diets and the need for natural, nutrient-rich products are also set to boost global pecan market expansion.
Key Takeaways from Market Study
- The global pecan market is estimated at US$ 2.02 billion in 2024.
- The market is forecasted to reach US$ 3.64 billion by 2034-end.
- Demand for pecans is projected to rise at a CAGR of 6.1% from 2024 to 2034.
- The market in East Asia is predicted to expand at 5.3% CAGR over the next 10 years.
- Processed form of pecans is set to hold 59.8% market share in 2024.
- Based on distribution channel, the business-to-business model is estimated to account for a 68.2% market share in 2024.
- North America will account for 18.2% of the global market share in 2024.
“Market competition, fluctuating prices, and changing consumer preferences need ongoing innovation and adaptation within the pecan business. Sustainable farming practices, advancements in technology, and marketing strategies all play an essential part in the pecan market growth and resilience,” says a Fact.MR analyst.
Globalization and International Trade of Pecans
Increased accessibility to markets worldwide, along with evolving trade agreements, has widened the distribution channels for pecans, making them available in various regions and countries. International trade agreements and improved logistics enable the efficient movement of pecans to various regions.
Establishment of strong trade networks and partnerships between pecan-producing countries and importing nations fosters market growth. Tariff reductions and trade policies also impact the flow of pecans, influencing market dynamics and pricing. Market research and adaptation to diverse cultural preferences are crucial for successful penetration into new international markets, ensuring sustained growth in the global pecan trade.
Countries such as China, Canada, and Mexico rank among the significant importers of pecans from the United States. However, global trade dynamics, geopolitical factors, tariffs, and market fluctuations often influence the flow of pecans across borders, impacting market trends and prices.
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| Report Attribute | Details |
| Value Projection (2034) | USD 3.64 Billion |
| Growth Rate (2024-2034) | 6.1% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 80 Tables |
| No. of Figures | 219 Figures |
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the pecan market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product type (in-shell, shelled), form (raw/whole, processed, others), end use (food industry, dietary supplements, cosmetics & personal care, retail/households), and distribution channel (business to business, business to consumer), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
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