Market Size of Walnut Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 8.83 Billion |
| Market Size (2029) | USD 11.22 Billion |
| CAGR (2024 - 2029) | 4.90 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Walnut Market Analysis
The Walnut Market size is estimated at USD 8.83 billion in 2024, and is expected to reach USD 11.22 billion by 2029, growing at a CAGR of 4.90% during the forecast period (2024-2029).
- With the growing inclination of consumers toward maintaining a healthy lifestyle, the high amount of nutritional content and health benefits associated with walnuts make them one of the most important species of tree nuts. Moreover, the rising per capita consumption of walnuts, the rising demand for convenience food, innovation in packaging, and the expanding population willing to pay a premium for healthy fruits are other factors propelling the market growth.
- Furthermore, with increasing health consciousness, consumers are choosing to snack healthy, owing to which the demand for flavored walnuts is rising in the United States. As Americans increasingly look to eat nutritionally dense snacks, explore food especially plant-based and eat on the go, these categories are ripe for growth and innovation in this market. Walnuts are a great nutritional snack, either as a stand-alone nut to grab in between larger meals or as an inclusion in a heartier snack. Nut butter bites, chocolate walnut and apple cinnamon walnut varieties, honey roasted walnuts, blueberries, grapes, and mini vanilla-formed granola walnut are also available in the market.
- Though, some of the restraints that have plagued the industry's development over the years are a lack of vertical integration in the manufacturers of walnut and goods. This has also increased the pricing of walnuts reaching consumers after various processing sites.
