The global pistachio market was pegged at 657,380.0 tons in 2017, according to Pistachio Market Report, by Product Type (Shelled and Unshelled), by Distribution Channel (Hypermarkets, Supermarkets, Specialty Stores, Convenience Stores, and Online Channel), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa).
The global pistachio market is projected to reach 851,582.0 tons by 2027, exhibiting a CAGR of 3.2% during the forecast period. Increasing popularity of pistachio as flavoring agent in desserts such as ice-cream, cakes, cookies, and others have increased growth of the pistachio market. The manufacturers in global pistachio market are focusing on organic and inorganic growth strategies, in order to expand their product portfolio. For instance, in August 2018, the Wonderful Company, LLC launched No Shell Roasted & Salted Pistachio. The new pack offers pistachio without the need to crack open the shells.
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Key Trends and Analysis of the Pistachio Market:
- Pistachios are increasingly gaining popularity, as consumers distinguish nuts as a better source of nutrients.
- According to International Nut and Dried Fruit Council (INC), world pistachio exports were pegged at over 360,960 metric tons in 2016, a 23% increase from the previous year, 293,884 metric tons and 18% compared to the prior 10-year average. Furthermore, according to the United States Department of Agriculture, pistachio production in the U.S. was 213,188 metric tons during 2013-2014, which increased to 450,924 metric tons during 2018-2019.
Key Takeaways of the Market:
- Asia Pacific held significant market share in 2017 in the global pistachio market, owing to increasing trade. China and Hong Kong combined were the largest importers of pistachios in 2018. According to International Nut and Dried Fruit Council (INC), pistachio import from China was pegged at 67,198 metric tons in 2015 and increased up to 100,082 metric tons in 2016.
- Growing demand from food & beverages, sweets and confectionery industry is further driving the market growth in this region. According to the Investment and Development Agency of Latvia (LIAA), food & beverages industry in China has grown steadily by 30% annually in the recent past.
- Europe accounted for the largest market share of 31.1% in the global pistachio market in 2017. This is attributed to growing bakery and confectionery industry in this region. According to Government of Canada, Agriculture and Agri-Food Canada, the bakery products market size in France and Germany was US$ 23,777.5 Mn and US$ 23,711.3 Mn, respectively in 2014 and is expected to grow at an annual rate of 0.66% and 0.72%, respectively over the forecast period 2009-2019.
- The Middle East is expected to show significant growth in the global pistachio market by 2020, owing to increasing production of pistachio in Iran. According to the U.S. International Trade Commission (USITC), the production increased to 463 million pounds in crop year 2015-2016 from 374.8 million pounds in crop year 2013-2014. Iran is one of the leading pistachio exporters in the world and exported over 90% of its production in 2013- 2014, 2014-2015, and 2015-2016.
- Some of the players operating in the global pistachio market include The Wonderful Company LLC, Germack Pistachio Company, Primex Farms, LLC, Horizon Growers, Nichols Pistachio, Keenan Farms and Setton Pistachio of Terra Bella Inc. Other players are Santa Barbara Pistachio Company, Hellas Farms LLC, Del Alba International and Ready Roast Nut Company.