Macadamia & Cardamom market size, share & industry analysis, By Nature (Organic, Conventional), By Application (Bakery Products, Dairy Products, Confectionary, Snacks, Beverages) and regional Forecast, 2024-2032

In recent years, consumer buying patterns have significantly evolved due to the economic developments and rising income levels. Consumers are willing to spend more on premium products to fulfil their cravings for indulgent foods. The trend of healthy snacking is emerging across the globe owing to the rising awareness of dietary habits-realted health conditions such as diabetes, obesity and cardiovascular diseases. Macadamia nuts are high in  polyunsaturated fatty acids omega-3 and omega-6. They are also a good source of vitamins and minerals zinc, potassium and phosphorus. Nut-based snacks and other products such as desserts, spreads & beverages are emerging as mainstream products in the healthy snacking space.

The growing intrest in trying exotic flavours and tastes is the other factor supporting the growth of macadamia and cardamom market. Cardamom adds aroma and spice to a wide range of preparations such as milk-based beverages, bakery products and confectioneries. Creamy, buttery and nutty taste notes of macadamia has resulted in its increased utilization in ice-cream toppings, butter spreads, and nut-based bars. The growing demand for plant-based, organic and clean-label products, especially in developed countries will contribute to further innovations and new product developments in the industry.

The emerging trend of premiumisation of food products primarily drives the growth of the global macadamia and cardamom market. Macadamia and cardamom flavour have recently gained momentum in sweets & dessert sector. The growing population with increasing discretionary income is contributing to the rise in demand for premium desserts and sweets such as macadamia & cardamom flavoured ice cream, cakes, beverages and spreads.  The increasing demand for healthy products is expected to drive the growth of macadamia market owing to its higher fatty acid content. Cardamom flavour is now being utilized in various mainstream confectioneries, dairy beverages and bakery products. The growing demand for spiced food preparations is projected to support the growth of the industry in foreseeable years.

High production and processiong costs of macadamia nuts and cardamom are the key factors that hamper the growth of the market. The availability of various other nuts such as almonds, walnuts and cashews negatively affects the growth of macadamia nuts. These nuts are largely being used for various food preparations serving the same purpose as macadamia nuts. The availability of other cheap spice flavours are expected to hamper the cardamom utilization in premium products.

Key Players Covered:

Diaspora Co., Macadamia Processing Co. Ltd., Suncoast Gold Macadamias, Green Farms Nut Co., Ivory Macadamias, The Archer Danials Midland Company, The Kys International, Royal Spices, Royal Macadamia Pty. Ltd., and Nambucca Macnuts Pty Ltd. are the key players operating in the global macadamia and cardamom market.

Organic macadamia & cardamom products are expected to exhibit strong sales performance due to the growing popularity of organic foods. Organic products are perceived to be safer and healthier as compared to conventional products. The innovations and product developments to introduce organic macadamium and cardamom flavoured snacks in the market is anticipated to contribute to the growth of the segment. Conventional macadamia and cardamom are being utilized in variety of dairy products and bakery products.

Snacks category is expected to witness robust growth attributed to the emerging trend of healthy snacking. The modern-day hectic lifestyle of consumers has resulted in the increased demand for on-the-go nutrition in the form of snacks. Bakery products are anticipated to exhibit promising growth owing to the rising demand for premium desserts such as cakes & pastries with macadamia toppings. Cardamum flavoured confectioneries are projected to gain traction in forthcoming years owing to the growing interest in spiced confectioneries.

Regional Analysis:

North America is expected to exhibit strong growth of the market owing to the emerging trend of healthy indulgence. The growing demand for foods high in unsaturated fatty acids to reduce the risk of various lifestyle related chronic diseases supports the growth of the macadamia market in the region. The European market for macadamia nuts & cardamom is expected to witness substantial growth driven by evolution in the consumption patterns of consumers in the region. There is a rising demand for healthier snacking options and plant-based protein. Consumers are also seeking new flavour and taste experiences that are offered by cardamom and macadamia nuts. Recent advancements in convenience foods is expected to support the growth of the market in the region.

Asia Pacific is projected to exhibit promising growth owing to the flourishing bakery and dairy industry in the region. The rising demand for cakes, pastries, ice creams and confectionery products has led to innovations and new product developments that utilize novel nutty and spiced flavours. The rapidly evolving foodservice sector in Asian countries is anticipated to fuel the growth of the market due to the rising demand for flavoured beverages and bakery products.

Segmentation

Key Industry Developments

• In May 2020, Indian Spice Board’s Quality Evaluation Laboratories introduced a new regulation of testing six chemical residues due to the growing demand for cardamom from West Asia. The new testing protocol will enable the free flow of small cardamoms to Saudi Arabia.


• In February 2020, Australia’s leading macadamia processors and marketers launched a new global brand, Marquis Macadamias. The launch of this brand is expected to drive the growth and opportunities in macadamia production.