Pecan Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Raw, Processed, Others), By Application (Household Consumption, Commercial Consumption), By Distribution Channel (Online, Offline), And By Geography - Forecasts From 2023 To 2028

Eating healthy food accounts for customers who are shifting their meal products to something which is full of nutrients and which is healthy such as pecans. Due to growing consumer knowledge of their health benefits, pecan nut demand has been significantly increasing in the worldwide nut industry.

One of the major factors contributing towards the growth of pecan nuts is fourteen types of minerals as well as nutrients which are found adding to pecan nutritional composition. The amount of protein it serves as well as the natural food oxidants that are present in it adds to its nutritional composition as well. There are healthy nuts which are widely available in the market but pecan nuts in the market are growing as it has established themselves as a healthy source. Due to their popularity among health-conscious consumers as one of their favoured nuts, pecan-based food products are currently in demand. Moreover, they are found in different varieties such as in the form of pecan biscuits and pecan muffins, resulting in the bakery segment of pecan nuts becoming popular as part of a healthy diet.

Rising pecan consumption is anticipated to boost the pecan market over the upcoming years as the health and nutrition aspect of consumer food choices would continue to dominate the market.

The direct-to-consumer model will drive the market growth

In the global nut industry, the model of direct-to-consumers is becoming popular as this model efficiently allows the producers into forming a much more efficient tailored approach towards the marketing of the product by the provision and availability of valuable consumer behaviour insights. The direct-to-consumer acts as a growth driver for the pecan market as it is efficient in allowing organizations to build direct relationships about the needs of their consumers. On the other hand, the distribution channel industry such as online and offline retailing for example e-commerce platforms and speciality stores are moreover supporting the identification of new upcoming demands and trends of the customers and furthermore improvising for the formulation of better strategic analysis. This efficient consumer interaction strategy is carefully crafted using the direct-to-consumer model which is allowing pecan producers in knowing the consumer buying requirements and launching pecan products which might fall under those requirements.

For instance, to generate more talk about its products, Diamond Food is actively involved in brand marketing and promotional activities. This company has moreover involved itself in understanding the sentiments of its consumers and formulating different products with different flavours in compliance with their customer's requirements.

Geographical Insights

The region of North America is anticipated to grow significantly in the pecan market. According to the United States Department of Agriculture, in the years 2020 and 2021, the production of pecan in the United States in the marketing season accounted for at least 302 million pounds of utilised in-shell basis. Pecan consumption in the United States, which peaked in 2019 at 65,842 tonnes, is among the highest in the world. Additionally, according to data on consumption given by the US Department of Agriculture, pecan consumption per capita reached 0.2 kg per person per year in 2019. Despite the rising trend in consumption, the nation's pecan output was also characterised as robust and reached a peak of 119,250 tonnes in 2019. The pecans moreover constitute high dietary fibres which is resulting in increased awareness and preference of the pecan along with the availability of multiple other nutrients which comes along with the consumption of pecans such as phosphorous, manganese and even thiamine. This particular aspect is further driving the market growth of the pecan market amongst vegan consumers. Additionally, significantly greater shelled pecan stock levels on US cold storage shelves are probably going to increase demand over the forecast period.

Key developments

• In August 2019, A pecan pie festival was held to honour Cane River Pecan Company's 50th anniversary. The business sold sweet potato soufflé and pecan pies at the event, and customers gave positive feedback.

Segmentation:

• By Type
  • Raw
  • Processed
  • Others
• By Application
  • Household Consumption
  • Commercial Consumption
• By Distribution Channel
  • Online
  • Offline
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Taiwan
    • Thailand
    • Indonesia
    • Others