Authored By: Sarah
23 Aug 2024

Walnut Market Size to grow by USD 2777.2 million between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Walnut Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.

Key Highlights:

  • Market Research Overview: In the agricultural products and services market, businesses operate within the food and non-food sectors, encompassing agriculture, aquaculture, floriculture, and horticulture. Pre-production activities are a crucial part of this market, involving strategic decisions such as crop or species selection and comprehensive land or pond preparation. These processes set the foundation for successful farming and cultivation, ultimately contributing to the overall value of the agricultural products and services. - The Walnut Market is experiencing significant growth, fueled by the Rising popularity of vegan snacks among millennials. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

  • Major Findings:
    • Rising popularity of vegan snacks among millennials
    • Rising awareness about health benefits of walnuts
    • High production costs associated with walnuts
    • Climate change and environmental factors related to production of walnuts
  • Growth Projections

The market size is estimated to grow by USD 2777.2 million, at a CAGR of 5.97% during the forecast period. Walnut oil, derived from the nuts of the walnut tree, is a valuable commodity in the cosmetic industry due to its rich nutritional profile and beneficial properties for skin and hair. This premium oil is renowned for its high content of omega-3 fatty acids, making it an ideal choice for massage oils and aromatherapy. In addition, walnut oil's antioxidant and anti-inflammatory properties make it effective in treating various skin concerns, such as dark circles and signs of aging. Furthermore, its antimicrobial properties aid in the treatment of fungal infections, including ringworm and athlete's foot. The increasing recognition of walnut oil's cosmetic benefits has led to a surge in demand for this versatile ingredient in the beauty industry.

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  • Regional Insights

As a seasoned business analyst, I'm pleased to provide insights into the dynamic walnut market. Walnuts are in high demand due to their rich nutritional profile, with key health benefits including an excellent source of antioxidants and essential minerals. The global walnut market size was valued at USD4.5 billion in 2020 and is projected to expand at a CAGR of 5.3% from 2021 to 2028. Major producers include the United States, China, and Iran, while key consumers include the European Union, India, and China. Market growth is driven by increasing health consciousness, rising disposable income, and expanding food industry.

About Technavio                                                                        

Technavio is a global market research company offering comprehensive reports and insights on various industries. Our research helps businesses make informed decisions by providing actionable data and trends. Technavio is based on four simple principles: easy-to-access reports, robust industry coverage, a focus on new and emerging technologies, and competitive pricing. We believe in helping companies and executives become better equipped to make faster, sounder, and more effective decisions. Technavio is one of the most influential market research and advisory firms in the world. We work with business and technology leaders to provide cutting-edge market research and insights to companies. 

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Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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