Pecans Market: Overview

The drive for pecans stems from the demand for food that packed with nutrients and further show versatility with recipes. The increasing worldwide trend of healthy eating has propelled the prospects of the pecans market. A major part of the worldwide pecan crop production comes from New Mexico, Texas and Georgia in the U.S. and Mexico. According to a study in the Journal of Agricultural and Food Chemistry, pecans contain more antioxidants than any other tree nut. This aside, the spending of consumers in the pecans market has gathered momentum due to the vast range of healthy recipes that can be made with pecans, given the fact that pecan nuts are a treasure trove of minerals and vitamins.

The pecans market gained commercial impetus chiefly from the North American populations. They include this nut in several of their quintessential recipes in the culinary arts. Even in other parts of the world, pecan muffins and pecan biscuits have gathered steam, propelling the revenue generation in the pecans market. Pecans can be consumed whole or in processed form. They can be in-shelled or shelled forms.

Key application areas in the pecans market are beverage industry, dairy industry, bakery industry, and confectionery industry. All types of distribution channels can be grouped into hypermarkets/supermarkets, convenience stores, specialty retail, and online retail.

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Pecans Market: Competitive Analysis and Key Developments

Players in the pecans market are leaning in expanding the range of snacks made of pecans to allure prospective consumers. They are expanding their product portfolios. For instance, a few prominent confectionery manufacturers in developed countries are coming out with innovative flavor combinations. Over the past few years, food processors have expanded their investments to serve the needs of the snacking industry by tapping into the large popularity of pecans in North America. Global players in the pecans market have benefitted from the export of value-added agricultural products such as in ASEAN countries. They are looking for expanding their distribution channels in new geographic markets.

However, most players have been reeling under the disruptions due to COVID-19 pandemic and the worldwide lockdowns in recent months. However, they are trying to keep the distribution channel afloat.

Some of the players in the pecans market are Hudson Pecan Company, Navarro Pecan Company Inc., Golden Peanut and Tree Nut, Merritt Pecan, Inc., Ellis Bros. Pecans, Inc., Pecan Argentina S.A., Atwell Pecan Co., Inc., New Aces, Inc., Lamar Pecan Company, Guidry Organic Farms, LLC., Sahale Snacks, Inc., Farmers Investment Co., John B. Sanfilippo & Son, Inc., Royalty Pecan Farms, Diamond Foods, Inc., and The Kraft Heinz Company.

Pecans Market: Key Trends

The drive for pecans market comes fundamentally from the adoption of healthy eating trends especially in popularity of plant-based source of proteins. Especially in the developing world, pecan-based recipes are attracting the attention of consumers who want to try new superfoods. This is evident in the rising consumer sentiment for new flavors based on pecans in snacking. Some of the purported health benefits of pecans are in reducing cardiovascular risk, digestion improvement, weight loss, lowering the risks of certain cancers, and anti-inflammatory and immunity benefits.

The direct-to-consumer models is a key trend in the pecans market. In recent years, the drive for tailored approach to marketing and product differentiation has expanded avenues in the global pecans market. Specialty stores and online retailing have been quick on capitalizing on these avenues. Developments being made by snacking manufacturers on brand marketing and promotional activities are boosting the pecans market.

Pecans Market: Regional Assessment

Some of the regions in the pecans market are North America, Europe, Asia Pacific, the Middle East and Africa. Of note, China and ASEAN countries are witnessing the revenue potential in the pecans market. European countries have seen rapidly rising consumption of pecan snacks, adding a large momentum to the evolution of the pecans market.

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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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