Global pistachios market size, share and growth analysis for 2024-2033

The Business Research Company’s pistachios Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 24, 2024 /EINPresswire.com/ -- The pistachios market has experienced robust growth in recent years, expanding from $4.01 billion in 2023 to $4.22 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth in the historic period can be attributed to growing awareness of the nutritional benefits of pistachios, rise in health and wellness trends, higher disposable incomes, expansion of pistachio cultivation, and growth in disposable income levels.

Strong Future Growth Anticipated
The pistachios market is projected to continue its strong growth, reaching to $5.21 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to increasing health consciousness, evolving consumer preferences towards natural, minimally processed foods, rising awareness of environmental issues, and increasing demand for vegan-friendly products.

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Growth driver of the pistachios market
The growing penetration of e-commerce is expected to propel the growth of the pistachios market in the future. E-commerce refers to the online business model facilitating the exchange of goods and services through the Internet. The growing penetration of e-commerce is due to expanding internet access and shifting consumer preferences towards online shopping. E-commerce facilitates convenient access to pistachio products, catering to diverse consumer preferences and expanding market reach for almond sellers. This digital platform enables direct-to-consumer sales, streamlining the distribution process and potentially increasing profit margins for pistachio producers.

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Major Players and Market Trends
Key players in the pistachios market include Nestlé S.A., Kraft Heinz Company, Hormel Foods Corporation, J.M. Smucker Company, The Wonderful Company LLC, Nichols Farms, Ready Roast Nut Company.
Major companies operating in the pistachio market are focusing on developing innovative products such as flavored pistachios, to gain a competitive edge in the market. Flavored pistachios are nuts infused or coated with various seasonings, spices, or other flavorings to enhance their taste.

Segments:
1) By Product Type: In-shelled, Shelled
2) By Form: Whole, Powdered, Roasted, Splits
3) By Distribution Channel: Wholesaler Or Distributor, Modern Trade, Convenience Stores, Online Sales, Other Distribution Channels
4) By End-Use: Bakery And Confectionery, Flavored Drink, Breakfast Cereals, Snacks, Butter And Spread, Dairy Products, Other End-Uses

Geographical Insights: North America Leading the Market
North America was the largest region in the pistachios market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of pistachios.

Pistachios Market Definition
Pistachios are edible seeds from the pistachio tree, known for their nutty flavor and greenish-yellow color. Pistachios are renowned for their rich, nutty taste and are frequently enjoyed as a snack, whether roasted and salted or eaten raw. They find widespread use in cooking, featuring in desserts, salads, and savory dishes, and are highly valued for their nutritional profile, which includes beneficial fats, protein, and fiber, as well as vitamins and minerals.

Pistachios Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

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