The Increasing Demand For Plant-Based Snacks Is Anticipated To Openup The New Avenue For Pistachio Market

Pistachio Market


The Pistachio Market is estimated to be valued at US$ 46.49 Mn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Pistachios are green colored edible seeds that grow on Pistacia vera trees. They are rich in nutrients including proteins, vitamins, minerals, and antioxidants. They are commonly consumed as snacks and used in bakery and confectionery products due to their unique flavor and nutritional profile. Pistachios help in reducing the risk of heart diseases, managing weight, and improving gut and brain health. They are available in various forms including shelled, unshelled, roasted and flavored pistachios.

Market Dynamics:
One of the key drivers for the Pistachio Market is the rising health consciousness among consumers. Pistachios are considered a superfood due to their excellent nutritional profile. They have lower calories and fat as compared to other nuts making them a healthier snacking option. Moreover, pistachios help in reducing cholesterol levels and managing diabetes. The health benefits associated with pistachio consumption are increasing its demand globally. Secondly, the changing lifestyle trends have increased the demand for convenient and nutritious on-the-go snacks. This has propelled the demand for pistachio products like pistachio butters, trail mixes and flavored nuts. Pistachios serve as a better alternative to traditional high-calorie snacks due to their nutritional composition.

Segment Analysis
The pistachio market is dominated by the inshell segment. The inshell pistachio segment accounts for around 70% of the overall market share owing to growing demand for inshell pistachios across various end-use industries like bakery & confectionery, desserts, and culinary applications. Inshell pistachios allow industrial manufacturers to directly incorporate pistachio kernels into their recipes during food processing, thereby reducing additional processing costs involved with shelled pistachios. This makes inshell pistachios more preferable for industrial buyers.

PEST Analysis
Political: The pistachio market is influenced by the trade policies set by major producing and exporting countries. Changes in tariff and non-tariff regulations can impact the prices and supply of pistachios globally.
Economic: Rising disposable incomes and growing health awareness are driving the demand for nutrient-rich pistachios globally. The market is also benefiting from increased usage of pistachios in various food applications by food processors.
Social: Changing consumer preferences toward healthy and snack-style foods are increasing the popularity of pistachios around the world. Social media promotions by key players are also creating awareness about pistachio nutrition.
Technological: Adoption of advanced harvesting and sorting technologies allows processors to efficiently separate shell and hull from pistachio kernels. Investment in storage infrastructure helps maintain year-round supplies.

Key Takeaways
Global Pistachio Market Size is expected to witness high growth, exhibiting CAGR of 3.7% over the forecast period of 2023-2030 due to increasing demand for healthy and nutrient-rich nuts globally. The market size is projected to grow from US$ 46.49 Mn in 2023 to US$ 62.92 Mn by 2030.

Regional analysis: Regionally, North America accounted for the highest value share of over 40% in the global pistachio market in 2023 owing to rising domestic consumption in the US. Meanwhile, Asia Pacific region is anticipated to exhibit fastest growth in the coming years on account of growing popularity of pistachio-based baked goods and snacks.

Key players analysis: Key players operating in the pistachio market are The Wonderful Company LLC, Germack Pistachio Company, Primex Farms, LLC, Horizon Growers, Nichols Pistachio, Keenan Farms and Setton Pistachio of Terra Bella Inc. These players are focusing on partnerships with bakeries, restaurants, and other food processors to push product visibility. 

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