PecansMarket: Overview
The drivefor pecans stems from the demand for food that packed with nutrients andfurther show versatility with recipes. The increasing worldwide trend ofhealthy eating has propelled the prospects of the pecans market. A major partof the worldwide pecan crop production comes from New Mexico, Texas and Georgiain the U.S. and Mexico. According to a study in the Journal of Agricultural andFood Chemistry, pecans contain more antioxidants than any other tree nut. Thisaside, the spending of consumers in the pecans market has gathered momentum dueto the vast range of healthy recipes that can be made with pecans, given thefact that pecan nuts are a treasure trove of minerals and vitamins.
The pecansmarket gained commercial impetus chiefly from the North Americanpopulations. They include this nut in several of their quintessential recipesin the culinary arts. Even in other parts of the world, pecan muffins and pecanbiscuits have gathered steam, propelling the revenue generation in the pecansmarket. Pecans can be consumed whole or in processed form. They can bein-shelled or shelled forms.
Keyapplication areas in the pecans market are beverage industry, dairy industry,bakery industry, and confectionery industry. All types of distribution channelscan be grouped into hypermarkets/supermarkets, convenience stores, specialtyretail, and online retail.
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PecansMarket: Competitive Analysis and Key Developments
Players inthe pecans market are leaning in expanding the range of snacks made of pecansto allure prospective consumers. They are expanding their product portfolios.For instance, a few prominent confectionery manufacturers in developedcountries are coming out with innovative flavor combinations. Over the past fewyears, food processors have expanded their investments to serve the needs ofthe snacking industry by tapping into the large popularity of pecans in NorthAmerica. Global players in the pecans market have benefitted from the export ofvalue-added agricultural products such as in ASEAN countries. They are lookingfor expanding their distribution channels in new geographic markets.
However,most players have been reeling under the disruptions due to COVID-19 pandemicand the worldwide lockdowns in recent months. However, they are trying to keepthe distribution channel afloat.
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Some ofthe players in the pecans market are Hudson Pecan Company, Navarro PecanCompany Inc., Golden Peanut and Tree Nut, Merritt Pecan, Inc., Ellis Bros.Pecans, Inc., Pecan Argentina S.A., Atwell Pecan Co., Inc., New Aces, Inc.,Lamar Pecan Company, Guidry Organic Farms, LLC., Sahale Snacks, Inc., FarmersInvestment Co., John B. Sanfilippo & Son, Inc., Royalty Pecan Farms,Diamond Foods, Inc., and The Kraft Heinz Company.
Pecans Market: Key Trends
The drivefor pecans market comes fundamentally from the adoption of healthy eating trendsespecially in popularity of plant-based source of proteins. Especially in thedeveloping world, pecan-based recipes are attracting the attention of consumerswho want to try new superfoods. This is evident in the rising consumersentiment for new flavors based on pecans in snacking. Some of the purportedhealth benefits of pecans are in reducing cardiovascular risk, digestionimprovement, weight loss, lowering the risks of certain cancers, andanti-inflammatory and immunity benefits.
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Thedirect-to-consumer models is a key trend in the pecans market. In recent years,the drive for tailored approach to marketing and product differentiation hasexpanded avenues in the global pecans market. Specialty stores and onlineretailing have been quick on capitalizing on these avenues. Developments beingmade by snacking manufacturers on brand marketing and promotional activitiesare boosting the pecans market.
Pecans Market: Regional Assessment
Some ofthe regions in the pecans market are North America, Europe, Asia Pacific, theMiddle East and Africa. Of note, China and ASEAN countries are witnessing therevenue potential in the pecans market. European countries have seen rapidlyrising consumption of pecan snacks, adding a large momentum to the evolution ofthe pecans market.
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