Published: Dec, 2017
Transparency Market Research has delivered a new report on the global pistachio market, offering in-depth insights and analysis for the forecast period, 2017 to 2026. The report provides a chapter on competition landscape of the global pistachio market, profiling proactive players and tracking their presence through an intensity map. Key market players included in TMR’s report are The Pistachio Co Food Trading LLC., Setton Pistachio of Terra Bella, Inc., Germack Pistachio Company, Wonderful Pistachios & Almond Company LLC, Rasha Pistachio Co., Bates Nut Farm, Sierra Nut House, Meridian Growers LLC, Houston Pecan Company, and Whistler Foods.
These market players are employing a variety of promotional strategies for boosting sales of their products. Regional level competition is relatively higher in pistachio producing regions such as the U.S., where numerous vendors compete based on price and quality. Level of competition in the global pistachio market is likely to intensify in the upcoming years, as vendors are increasingly focusing on expansion of their operations in untapped markets globally.
Revenues from Global Pistachio Sales to Reach Revenues Nearly US$ 5,000 Mn by 2026-End
Being a mature market, global sales of pistachio will exhibit a moderate CAGR through 2026. As pistachio contains antioxidants, and is rich in fiber, it enables controlling sugar levels and helps reduce cholesterol levels. On account of these properties, pistachio consumption is highly beneficial for type 2 diabetic patients. In addition, high vitamin B6 content in pistachios aids in increasing immunity levels, which has gained huge traction among health-conscious consumers. Sales of pistachios across the globe are estimated to bring in revenues worth nearly US$ 5,000 Mn by 2026-end. Pistachios are witnessing a tremendous surge in popularity, as more consumers discern nuts as a guilt-free and better source of nutrients.
Pistachio is considered to be one of the most popular flavors employed in food products, particularly in deserts, in light of their unique and subtle essence. In addition to their inclusion in bakery products such as cakes, biscuits, and cookies, pistachios are being highly preferred in frozen foods as well. Pistachios are also widely being utilized in the food processing industry, food joints, and restaurants. As people are becoming accustomed to witnessing pistachio-based offerings in food joints, it is more likely that they would commence seeking these nuts in grocery stores. Food manufacturers, particularly in dessert and snacks space, are shifting their focus toward rolling out pistachio-flavored products, in a bid to capitalize on flavor craze trend before a new ingredient forays into the market. Several culinary experts are vigorously experimenting with pistachios as a major ingredient in food products such as soups, appetizers, and main course dishes.
Key Research Findings from TMR’s Report on Pistachio Market
- Europe will continue to be the most financially rewarding market for pistachios, with sales projected to account for one-third revenue share of the global market by 2026-end. However, sales of pistachios will register a relatively faster expansion in Latin America and Asia-Pacific excluding Japan (APEJ) through 2026.
- Whole and split pistachios will remain preferred among consumers globally. Revenues from whole and split pistachio sales will account for over three-fourth share of the market during the forecast period. Powdered pistachio will emerge as the top-selling form of pistachios, although these account for a low revenue share of the market currently.
- Pistachios will witness the largest end-use in snacks, and bakery and confectionery. Revenues from these two end-use segments are collectively estimated to surpass US$ 2,500 Mn by 2026-end. Bakery & confectionery will also remain the fastest expanding end-use of pistachios throughout the forecast period.
- In terms of revenues, wholesaler/distributor will lead the global pistachio market, based on distribution channel. In addition, sales of pistachios will reflect a robust expansion in online sales through 2026.
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