Walnuts Global Market Report 2024

The walnuts market size has grown strongly in recent years. It will grow from $7.27 billion in 2023 to $7.66 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to increasing consumer awareness about health and sustainability, the rising popularity of plant-based protein, expansion of the walnut market, changes in dietary preferences, and increased globalization.

The walnuts market size is expected to see strong growth in the next few years. It will grow to $9.59 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The anticipated growth in the forecast period can be attributed to projected economic expansion in emerging markets, the proliferation of e-commerce platforms, shifts in trade agreements and regulations, and a growing focus on sustainability and ethical sourcing practices. Significant trends expected in the forecast period include the introduction of innovative products, a greater emphasis on sustainability in walnut harvesting, the adoption of regenerative agricultural practices, alignment with health and wellness trends, and the expansion of product portfolios.

The walnuts market is expected to experience growth driven by the increasing awareness of healthy lifestyles. Healthy lifestyles encompass behaviors and habits aimed at enhancing physical, mental, and emotional well-being. This surge in awareness is attributed to greater access to information, heightened concerns about chronic diseases, and a growing focus on preventive healthcare measures. Walnuts, abundant in omega-3 fatty acids and antioxidants, play a significant role in promoting heart health and reducing inflammation, making them a valuable addition to balanced diets and plant-based lifestyles. For example, findings from an online survey conducted in May 2022 by the International Food Information Council, a US-based non-profit organization, revealed that 52% of respondents followed specific diets or eating patterns, marking an increase from 39% in 2021. Notable dietary trends included clean eating, mindful eating, calorie counting, and plant-based eating. Consequently, the rising awareness of healthy lifestyles is fueling the growth of the walnuts market.

Key players in the walnuts market are intensifying their efforts to develop walnut-based protein supplements like Black Walnut Protein Powder in response to the growing demand for healthy and sustainable food options. Black Walnut Protein Powder is a premium supplement derived from wild-grown, sustainably harvested, and processed black walnuts sourced from native North American trees. For instance, in January 2023, Surthrival Ltd., a US-based provider of regenerative food substances, introduced Black Walnut Protein Powder, a plant-based protein powder derived from wild-foraged black walnuts. The powder is produced using a carbon dioxide extraction process to ensure purity and quality, free from exposure to pesticides, herbicides, or fertilizers.

In May 2023, Flagstone Foods, a US-based manufacturer of snacks and trail mixes, completed the acquisition of Emerald Nuts from Campbell Soup Company for an undisclosed sum. This strategic move is aimed at broadening Flagstone Foods' portfolio and enhancing its presence in the North American snack market. By incorporating Emerald Nuts into its lineup, Flagstone Foods aims to offer customers a wider array of snack options, including healthier choices to cater to the growing demand for better-for-you products. Emerald Nuts, a US-based provider of nuts including walnuts, aligns with Flagstone's objectives and positions the company for growth in the dynamic snack industry.

Major companies operating in the walnuts market are Olam Group, John B. Sanfilippo And Son Inc., Borges International Group, Sierra Cascade Nut Company, Mariani Nut Company Inc., Webster Limited, Poindexter Nut Company, Grower Direct Nut Co. Inc., Morada Produce Co LP, Crain Walnut Shelling Inc., Alpine Pacific Nut Company, Andersen and Sons Shelling Inc., Mid Valley Nut Co Inc., Agromillora Group, Sacramento Valley Walnut Growers LLC, Guerra Nut Shelling Company, Kashmir Walnut Group, Empire Nut Company LLC, Stewart And Jasper Orchards, Valley Harvest Nut Company, GoldRiver Orchards Inc., Montna Farms.

Asia-Pacific was the largest region in the walnuts market in 2023. The regions covered in the walnuts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the walnuts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Walnuts are nutrient-rich seeds obtained from trees of the Juglans genus, known for their tough, wrinkled shells housing edible seeds. They are abundant in healthy fats, protein, fiber, vitamins, and minerals, including omega-3 fatty acids and antioxidants, which contribute to various health advantages such as improved heart health, cognitive function, and reduced inflammation.

The varieties of walnuts include black walnuts and English walnuts. Black walnuts are obtained from the Juglans nigra tree and are available in both organic and conventional forms, categorized as in-shell or shelled walnuts. Walnuts find application across a range of sectors including households, industrial settings, the food industry, personal care, cosmetics, and pharmaceuticals.

The walnuts market research report is one of a series of new reports that provides walnuts market statistics, including walnuts industry global market size, regional shares, competitors with a walnuts market share, detailed walnuts market segments, market trends and opportunities, and any further data you may need to thrive in the walnuts industry. This walnuts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The walnuts market consists of sales of white walnut, and California walnut. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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