Pistachio Market Will Grow At Highest Pace Owing To Increasing Consumption Of Nutritious Snacks

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The pistachio market comprises pistachio nuts and related products such as shelled or unshelled pistachios, pistachio kernels, pistachio butter and pistachio flour. Pistachios are nutrient-dense tree nuts rich in protein, healthy fats, fibre, vitamins and minerals. They are known for their distinctive flavor and are commonly consumed as snacks or used in ice creams, bakery products and savory snacks. The rising awareness about the health benefits of pistachios such as maintaining cardiovascular health, controlling diabetes and maintaining weight is driving their demand globally. Moreover, the millennial population prefers nutritious on-the-go snacks over junk food, boosting the uptake of pistachios.

The Global pistachio Market is estimated to be valued at US$ 53.56 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the pistachio market are Merck KGaA, OriGene Technologies, Inc., Thermo Fisher Scientific Inc., Feldan Therapeutics, ACROBiosystems, Abcam plc., Randox Laboratories Ltd., SOL GROUP, Proteintech Group, Inc, Planet Biotechnology, Inc., INFINITE ENZYMES, INC., ORF Genetics, GenScript, BTL Biotechno Labs Pvt Ltd., Prospec-Tany Technogene Ltd., BPS Bioscience, Inc., Sino Biological, Cape Bio Pharms, Abnova Corporation, GeNext Genomics. The surging demand for plant-based snacks and protein-rich foods is fueling the sales of pistachios globally. Technologies like predictive harvesting and robotic harvesting are helping maximize yields while improving efficiency in the pistachio market.

Market trends

Increased investments in agricultural automation: Major pistachio producers are investing in farm mechanization and precision agriculture technologies like robotic harvesting, predictive harvesting and AI-based crop monitoring to reduce labor costs and maximize yields.

Rising popularity of flavored pistachios: Pistachio processors are innovating new flavors by infusing pistachios with spices, herbs and chocolate to appeal to diverse consumer tastes. Flavored pistachios are finding increased usage in confectionery products and bakery items.

Market Opportunities

Growing imports in Asia: Developing countries in Asia like India and China are emerging as major import markets for pistachios as their spending power and demand for high-quality snacks increases. Producers can leverage this opportunity.

Use in plant-based dairy alternatives: Pistachio milk and ice cream are gaining traction as more people opt for plant-based diets. Pistachios can be incorporated into vegan yogurts, cheeses and other dairy-free products.

Impact of COVID-19 on Pistachio Market

The COVID-19 pandemic has significantly impacted the Global Pistachio Market Size . During the initial lockdown phases in 2020, the supply chain disruptions affected the production and transportation of pistachios globally. Many pistachio processing plants had to temporarily shut down or operate at limited capacities to comply with social distancing norms. This led to reduced availability of pistachios in the market.

The demand for pistachios also took a hit initially as people's focus shifted to panic buying of essential items. With restrictions on social gatherings and closure of several food outlets, the out-of-home consumption of pistachios minimized. However, as people stayed home for longer periods, the demand for snacking nuts saw an uptick. Pistachios being a healthy snack gained traction. The rising health consciousness among people during the pandemic further boosted the demand.

Moving ahead, the pistachio market is expected to recover steadily from 2021 onwards. The supply chains and production facilities are resuming operations gradually. Adopting appropriate safety protocols will help stabilize production volumes in the coming years. On the demand side, the trend of healthy snacking at home is likely to sustain even in the post-pandemic period. This shifts consumer preference towards nuts including pistachios. The market players need to focus on digital marketing strategies to engage consumers online and tap the increased demand. Ensuring consistent supply through optimized logistics is another key area to drive the market's future growth.

Geographical Regions with Highest Pistachio Market Concentration

Majority of the global pistachio production and market are concentrated in the Middle Eastern region, especially Iran, Turkey, Syria, and Afghanistan. As per estimates, Iran alone contributes over half of the global pistachio supply. Favorable climate conditions, suitable soil, and long tradition of pistachio farming have established this region as the epicenter for pistachio sourcing globally.

Fastest Growing Regional Market for Pistachios

The pistachio market in Asia Pacific region, especially India and China, is witnessing the fastest growth presently in terms of value. With the increasing health awareness and westernization of diets, the demand for tree nuts including pistachios is escalating rapidly in the emerging Asian economies. Moreover, the rising middle-class population provides an expanded consumer base. The Asia Pacific pistachio market is projected to double in size during the forecast period owing to the strong market drivers in the region.

For more Insights, Read –

https://www.newsstatix.com/pistachio-market-size-market-share-analysis/

 

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