Market Trends of Pistachio Industry
This section covers the major market trends shaping the Pistachio Market according to our research experts:
Progressive Demand for Healthy Snacks
Pistachios have many advantages, including reduced risk of cardiovascular diseases and diabetes, improved digestion system, immune system, and nervousness, which is also helpful in improving body metabolism. One of the major trends witnessed in the pistachio market is that various food producers, especially in snacks and dessert fields, are shifting their attention towards winding out pistachio-flavored products in a bid to benefit on flavor.
The changing consumer lifestyle, rapid urbanization, and high disposable income are progressing the demand for on-the-go healthy convenience foods and snacks. Altering food consumption behavior among consumers and improved willingness to spend are the results of rapid urbanization, in turn, are increasing the disposable income among consumers, leading to increased spending of the final consumer on such a healthy snacks segment. These products are earning the praises of vegan and highly health-conscious consumers. Hence these factors tend to drive the pistachio market globally.
North America is Leading the Market in Terms of Production
According to the International Dried Fruits and Nuts Council, North America is the largest producer of pistachio worldwide and accounted for 58% of the global production in 2018, with a volume of 450,794 MT. The United States was the top exporting country in 2017, accounting for 46% of world exports, up 46% from 2016, and the main markets for United States pistachios were China (52%) and the European Union (31%). Turkey and Greece are the countries that export pistachio to the US market to support domestic demand.
The fertile soil, hot and dry climate, and moderately cold winters offer the ideal growing conditions for the pistachios in North America. The rising demand for natural and low-sugar snack items, changes in consumption patterns, food requirements, and an inclination toward vegetarian products for protein sources in the region are driving the pistachio market in North America.
