MARKET OVERVIEW
The global walnut market industry reached USD 8.7 billion in 2024 and is projected to climb to USD 12.7 billion by 2033, at a solid CAGR of 4.2%. Rising health awareness, expanding retail and online distribution, growing popularity of walnut‑based products such as milk and oils, and technological advances in cultivation and trade policy shifts are all fuelling this projected growth.
STUDY ASSUMPTION YEARS
- BASE YEAR: 2024
- HISTORICAL YEAR: 2019–2024
- FORECAST YEAR: 2025–2033
WALNUT MARKET KEY TAKEAWAYS
- Global market size was USD 7 billion in 2024, forecasted to reach USD 12.7 billion by 2033 at a 4.2% CAGR.
- Asia‑Pacific leads market share thanks to strong local consumption and premium positioning.
- Segmentation is consistent across type, product, nature, form and end‑use, capturing diverse consumer scenarios.
- Rising health consciousness is boosting demand for walnuts in snacks, bakery, and personal care applications.
- Technological improvements in farming and processing are increasing yield, quality and availability.
- Expansion of distribution channels—especially online and supermarket networks—is improving accessibility and convenience.
MARKET GROWTH FACTORS
Expanding Applications in Food and Beverage Industry
The walnut market is experiencing strong momentum due to its widespread applications in the food and beverage sector. Food manufacturers are increasingly incorporating walnuts into bakery products, confectionery, dairy alternatives, spreads, and beverages. From walnut butter to walnut-infused milk and yogurt, the versatility of this nut is driving innovation in product development. Moreover, the rising popularity of plant-based diets is encouraging manufacturers to use walnuts as a base for protein alternatives, enhancing the nut’s value across vegan and vegetarian segments. Restaurants and cafés are also integrating walnuts into salads, desserts, sauces, and gourmet recipes, reflecting consumer demand for wholesome and flavorful food options. In beverages, walnut-based drinks are gaining traction as dairy-free alternatives that provide both taste and nutrition. As global brands explore new formulations, such as walnut protein powders and snacks, the walnut market is expected to see expanding opportunities in food service, retail, and packaged goods sectors.
Health and Wellness Trends Fuelling Consumption
The global wellness movement is significantly boosting walnut consumption, as consumers increasingly prioritize foods with proven health benefits. Walnuts are widely recognized for their ability to reduce cholesterol levels, improve heart health, regulate blood sugar, and support cognitive function. Clinical research and promotional campaigns highlighting these benefits are reinforcing consumer trust in walnuts as a superfood. This health-focused narrative aligns with the rising prevalence of lifestyle-related diseases such as obesity, diabetes, and cardiovascular disorders, prompting consumers to adopt preventive diets. Additionally, the growing interest in mental wellness and cognitive health is driving walnut consumption, as they are associated with improved memory and brain function. The shift toward clean-label products also benefits walnuts since they are naturally free from additives, gluten, and allergens. With functional food trends shaping consumer behaviour, walnuts are not just a snack but a lifestyle choice, creating a powerful driver for long-term market expansion.
Increasing Popularity of Plant-Based Diets
The rise of plant-based eating habits worldwide is another crucial factor accelerating the walnut market. With more consumers reducing or eliminating animal-based products, walnuts serve as a natural alternative for protein and healthy fat sources. They are increasingly used in meat substitutes, vegan cheese, non-dairy milk, and protein powders, catering to the booming vegan and flexitarian population. Beyond direct consumption, walnut oil is gaining popularity as a plant-based cooking ingredient with rich flavor and health benefits. The shift toward sustainable eating further enhances walnuts’ market potential since nut farming has a relatively lower carbon footprint compared to livestock production. Major food manufacturers are innovating with walnut-based recipes to tap into this segment, offering consumers diverse choices aligned with their dietary preferences. This expansion of plant-based food markets globally ensures a robust demand outlook for walnuts in the coming years.
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MARKET SEGMENTATION
Based on the IMARC report, the global walnut market is segmented as:
- By Type:
- In‑shell
- Shelled
- By Product:
- Persian or English Walnut
- Black Walnut
- By Nature:
- Organic
- Conventional
- By Form:
- Raw
- Processed
- By End Use:
- Household
- Industrial
- Personal Care and Cosmetics
- Others
- Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
REGIONAL INSIGHTS
The Asia Pacific region is leading the global walnut market, thanks to robust local production and a surge in consumption. As walnuts become more recognized as a health food, their significance in local culinary traditions and the growth of retail options are driving this upward trend. With consumers increasingly focused on wellness foods, along with rising disposable incomes and better access to e-commerce, Asia Pacific is solidifying its top position in both value and volume.
RECENT DEVELOPMENTS NEWS
In recent years, the walnut industry has embraced innovation, introducing products like walnut milk, oil, flour, and various baked goods. The rise of plant-based and clean label trends has pushed manufacturers to create ready-to-eat walnut snacks and health-focused foods. Moreover, cosmetic companies are tapping into walnut oil for their skincare and haircare lines. These changes highlight a growing consumer preference for natural, functional, and sustainable ingredients, leading to a wider use of walnuts in food, wellness, and beauty products.
KEY PLAYERS
- Agromillora Group
- Alpine Pacific Nut Company
- Andersen and Sons Shelling Inc.
- Crain Walnut Shelling Inc.
- Empire Nut Company LLC
- GoldRiver Orchards Inc.
- Grower Direct Nut Co. Inc.
- Guerra Nut Shelling Co. Inc.
- Haleakala Walnut Shelling Inc.
- Kashmir Walnut Group
- Poindexter Nut Company
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