Walnut Market Growth Analysis - Market Size, Share, Forecast Trends and Outlook Report (2024-2032)

Global Walnut Market Growth

Global walnut production reached a historic high of 3,874,025 tonnes in 2022 due to favourable growing conditions, recording a year-on-year growth of 9.97%. Countries such as China (1,400,000 tons), the United States of America, and Iran led the global production of walnuts with a share of 62.9%. China accounted for nearly 36.1% of the global production in 2022.

In 2021, the number of Google searches related to “vegan food near me” surged by over 5000%. This indicates a rising number of people shifting to plant-based products due to concerns related to animal welfare (68.1%), health and wellness (17.4%), and sustainability (9.7%). Globally, there are nearly 7.9 million vegans with a substantial presence in cities like London, New York, Berlin, Toronto, and Los Angeles. The United Kingdom, Austria, Israel, Australia, and New Zealand have the highest number of vegans in the world. The vegan fashion industry is flourishing due to the rapid increase in the demand for cruelty-free cosmetic products. This is expected to accelerate the demand for walnuts, as they are extensively used as a natural ingredient in food items and cosmetic products, which enhances their consumer appeal.

Key Trends and Developments

Increasing walnut production due to favourable conditions; increasing household demand for walnuts; rising cultivation of climate-resilient crops; and rising demand for packaged food products are the major trends impacting the walnut market expansion

October 2023

The California Walnut Commission adopted a range of measures by roping in dieticians, researchers, food connoisseurs, and social media influencers to expand its market in India.

July 2023

Unbound Snacks announced its plan to introduce flavoured walnut snacks in brightly-coloured packaging for American consumers.

July 2023

Across 780 retail stores of Tesco (UK), sales of walnuts produced by Californian farmers surpassed weekly diet coke sales.

February 2020

The California Walnut Commission launched a global marketing initiative known as “Power of 3” to raise consumer awareness regarding the health benefits of walnuts in countries such as Japan, the UK, Germany, India, and Turkey, among others. Walnuts are rich in omega-3 ALA, and the consumption of three handfuls (90 grams) of walnuts weekly is an effective way of improving overall nutrition among humans.

Increasing walnut production due to favourable conditions

The production of walnuts surged significantly in China, Romania, and Moldova, reaching 1,500,000 MT, 40,000 MT, and 20,800 MT respectively.

Increasing household demand for walnuts

Walnuts have various culinary applications, including baking, salads, and toppings. This has sustained their popularity among consumers, despite rising prices.

Rising cultivation of climate-resilient crops

In 2023, the USA produced nearly $26.6 billion worth of fruit and tree nuts, which is set to rise substantially by 2033.

Rising demand for packaged food products

Nearly 76% of all consumers consider walnuts to be a healthy ingredient in packaged food products, with 73% of them showing an increased preference for products with walnuts.

Global Walnut Market Trends

During 2022-2033, the aggregate production of tree nuts in the United States is expected to surge by 17%, reaching 8.1 billion pounds in 2033. As per the US Department of Agriculture, the total volume of tree and fruit nut production is expected to cross 51 billion pounds by 2033, with their total value reaching $33.8 billion. This is expected to drive the market expansion over the forecast period.

Global Walnut Industry Segmentation

Global Walnut Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Shelled
• In-Shell

Market Breakup by Product

• Black Walnut
• Persian or English Walnut

Market Breakup by Form

• Raw
• Processed

Market Breakup by Nature

• Conventional
• Organic

Market Breakup by End Use

• Personal Care and Cosmetics
• Industrial
• Pharmaceuticals
• Household
• Food Industry
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Global Walnut Market Share

Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2024-2032, the Asia Pacific is expected to grow at a CAGR of 5.4% as walnut demand and production in countries like China and India surge.

Leading Companies in the Global Walnut Market

Major walnut producers are expected to witness a surge in demand from the food and beverage sector, as companies seek to incorporate natural ingredients into their food products and enhance their nutritional profile.

• Diamond Foods, LLC
• Mariani Nut Company
• BORGES AGRICULTURAL & INDUSTRIAL NUTS, S.A.
• Poindexter Nut Company
• California Walnut Company, Inc.
• Tierra Farm
• ROYAL NUT COMPANY
• BORGES AGRICULTURAL & INDUSTRIAL NUTS, S.A.
• GoldRiver Orchards, Inc.
• Crain Walnut Shelling, LP
• Others

The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.