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Growing demand for healthy snacks fueling global sales of pistachios: Report
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Tuesday, 14 March, 2023, 16 : 00 PM [IST]
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Our Bureau, Mumbai
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A newly published research report by Fact.MR, a market research and competitive intelligence provider, states that worldwide demand for pistachios is growing due to rising awareness about their high nutritional value. The global pistachios market is estimated to expand at a CAGR of 5.8% and reach US$7.4 billion by 2033.
Pistachios are a rich source of antioxidants and fibre and help lower cholesterol levels, reduce the risk of cancer, and maintain blood sugar levels. They are widely consumed by patients suffering from type 2 diabetes. North America has favourable conditions for growing pistachios, with a moderate climate, hot and dry weather, and fertile soil. Iran, Türkiye, and the United States produce around 90% of the world's pistachios. The United States exports pistachios to countries such as Spain, Germany, and China.
Consumption of pistachios provides numerous benefits, including boosting the immune and digestive systems and improving metabolism. Many food producers, particularly in the desserts and snacks industry, are incorporating pistachios into their products. Rapid urbanisation and changing lifestyles are driving the demand for healthy, convenient snacks, and with their increasing disposable income, consumers are willing to spend more on healthy snacking options, which benefits suppliers of pistachios.
Roasted pistachios are becoming popular among health-conscious and vegan consumers as a healthy snack alternative to high-fat options. This growing demand for healthy snacks presents lucrative opportunities for the pistachios market. Additionally, consumers’ shift toward vegetarianism is driving the sales of pistachios.
Key Takeaways from Market Study
- The global pistachios market is forecasted to expand at a CAGR of 5.8% from 2023 to 2033.
- Sales of pistachios around the world are estimated to reach US$7.4 billion by 2033.
- The present size of the global pistachios market is US$4.5 billion.
- Demand for pistachios in Canada is predicted to advance at a CAGR of 4.1% from 2023 to 2033.
- Sales of pistachios in Germany are expected to progress at a CAGR of 3.6% from 2023 to 2033.
According to a Fact.MR analyst, “Demand for pistachios is being driven by their increasing use as a flavour enhancer in various bakery products and their growing popularity as a nutritious snack option.”
Key Market Players
Key global suppliers of pistachios are Del Alba International, Wonderful Company LLC, Setton Pistachio of Terra Bella, Inc., Santa Barbara Pistachio Company, Primex Farms, LLC, Nichols Pistachio, Keenan Farms, and Horizon Growers.
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