Global Recipe Pecan Market Size 2024, Forecast To 2033
6 Mar, 2024
The recipe pecan market has also witnessed substantial growth, escalating from $2.08 billion in 2023 to $2.23 billion in 2024, with a noteworthy compound annual growth rate (CAGR) of 7.5%. This growth in the historical period can be attributed to factors such as the flourishing food and beverage industry, heightened awareness of health and nutrition, regional and cultural preferences, as well as effective marketing and promotional efforts. The market size is projected to experience continued strong growth, reaching $2.92 billion in 2028, supported by a CAGR of 6.9%. This anticipated growth is fueled by the increasing demand for healthy snacks, the popularity of gourmet and specialty cuisine, a shift towards plant-based diets, and the influence of culinary influencers and celebrity endorsements. Key trends in the forecast period include diversification in culinary usage, the rising popularity of plant-based ingredients, innovation in recipe development, culinary fusion and experimentation, and the preference for health-conscious consumer choices.
Global Recipe Pecan Market Key Driver
The anticipated surge in demand for plant-based products is poised to drive the growth of the recipe pecan market. Plant-based products, derived from plant ingredients, encompass a variety of food items like plant-based meat alternatives, dairy-free milk and cheese alternatives, and vegan desserts. The increasing consumer awareness regarding the benefits of plant-based products is fueling the demand for such items. Pecans, being a plant-based product and a rich source of calcium, magnesium, and potassium, are particularly sought after for their potential to lower blood pressure. In 2021, the Plant Based Foods Association (PBFA) reported a 6.2% increase in plant-based retail sales in the US, reaching a market value of $7.4 billion. Additionally, plant-based product purchases in the United States rose from 61% (77 million in 2020) to 62% (79 million in 2021). This heightened demand for plant-based products is expected to continue driving the growth of the recipe pecan market in 2023, 2024, and 2028.
Get A Free Sample Of The Global Recipe Pecan Market ReportGlobal Recipe Pecan Market Segments
The recipe pecan market covered in this report is segmented –
1) By Type: In-shelled, Shelled
2) By Application: Directly Eat, Confectionery, Bakery
3) By Distribution Channel: Online, Offline
By Geography:The regions covered in the recipe pecan market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the recipe pecan market in 2023. North America is expected to be the fastest-growing region in the global recipe pecan market report during the forecast period. The regions covered in the recipe pecan market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Recipe Pecan Industry Players
Archer Daniels Midland Company, Green Valley Pecan Company, Hudson Pecan Company Inc., John B. Sanfilippo & Son Inc., La Nogalera Group SA de CV, Lamar Pecan Company, Maco Pecan SA de CV, National Pecan Company, Navarro Pecan Company, Oliver Pecan Company Inc., San Saba Pecan LP, South Georgia Pecan Company, Sun City Nut Company Inc., Whaley Pecan Company Inc., Atwell Pecan Company, Durham-Ellis Pecan Company, Golden Kernel Pecan Company, Greenbrier Pecan Company, Hill Country Pecan Company, Indianola Pecan House, Koinonia Farm Pecans, Lenny's Pecans, Millican Pecan Company, Missouri Northern Pecan Growers, Pearson Farm, Pecan Deluxe Candy Company, Pecan Grove Farms, Royalty Pecan Farms, Valley Pecans Products Inc., J & W Pecan Company, New Mexico Pecan Company, Pecan House, Pecan Ridge Plantation, Pecan Shoppe, Pecan Valley Pecans
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Recipe Pecan Market Overview
Recipe pecan refers to the preparation of a pecan recipe using an oblong edible nut from the fruit of a tall tree that has a thin shell. Recipe pecan consists of calcium, magnesium, and potassium, which help lower blood pressure and help in the maintenance of health.
Recipe Pecan Global Market Report 2023 provides data on the global recipe pecan market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The recipe pecan market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.