“Global Macadamia Butter Market to reach a market value of USD 315.5 Million by 2031 growing at a CAGR of 11%”
The Global Macadamia Butter Market size is expected to reach $315.5 billion by 2031, rising at a market growth of 11% CAGR during the forecast period. In the year 2023, the market attained a volume of 1,912.08 tonnes, experiencing a growth of 9.7% (2020-2023).
Canada is seeing a distinct surge in demand for macadamia butter driven by the nation’s increasing emphasis on health and wellness products. The country has seen a sharp rise in the popularity of clean eating and organic food movements. Macadamia butter’s nutrient-dense profile and the push for organic, minimally processed food have made it a popular product in health-conscious Canadian households, particularly in provinces like British Columbia and Ontario, where organic food trends are most pronounced. Thus, the North America region acquired 36% revenue share in the macadamia butter market in 2023. In terms of volume, the North America region is expected to utilize 1,119.04 tonnes of macadamia butter by 2031.
A robust demand for macadamia butter has been established as a versatile, plant-based spread that caters to a wide variety of dietary preferences because of the convergence of increasing veganism, plant-based eating, and flexitarian lifestyles. Therefore, the market is experiencing growth because of these factors. Additionally, the convenience, accessibility, and often lower prices offered by online platforms are major contributors to this growing demand. Thus, as the global e-commerce sector grows, macadamia butter is expected to become even more accessible, further driving market expansion.
However, the market faces intense competition from other well-established nut butters, including peanut, almond, and cashew butter. These alternatives have been household staples for decades and are deeply ingrained in consumer preferences. Peanut butter, for example, is a cost-effective, widely available product that has long dominated the nut butter industry. In contrast, macadamia butter remains a relatively niche product, with limited availability and a much higher price point, making it difficult to capture a significant share of the nut butter industry.
On the basis of form, the market is classified into raw and roasted. The raw segment recorded 44% revenue share in the market in 2023. Raw macadamia butter, known for retaining more of the natural nutrients and health benefits of macadamia nuts, appeals to health-conscious consumers. In terms of volume, 1,587.83 tonnes of raw macadamia butter is expected to be utilized by 2031.
By application, the market is divided into food & beverages, cosmetics & personal care, nutraceuticals, and others. The food & beverages segment witnessed 58% revenue share in the market in 2023. Health-conscious consumers' increasing demand for plant-based, nutrient-dense, and gourmet food products is a significant factor in this. In terms of volume, 1,925.23 tonnes of macadamia butter are expected to be utilized in food & beverage applications by 2031.
Based on nature, the market is bifurcated into organic and conventional. The conventional segment garnered 79% revenue share in the market in 2023. This can be attributed to several factors, including the broader availability and lower cost of conventional macadamia butter than its organic counterpart. In terms of volume, 2,683.07 tonnes of conventional is expected to be utilized by 2031.
Free Valuable Insights: Global Macadamia Butter Market size to reach USD 315.5 Million by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured 27% revenue share in the market in 2023. In countries such as China, Japan, and Australia, the growing demand for premium and nutritious food products, the increasing consumer awareness of the health benefits of macadamia butter, and the rise in disposable incomes are all contributing factors. In terms of volume, the Asia Pacific region is expected to utilize 1,168.55 tonnes of macadamia butter by 2031.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 144.3 Million |
| Market size forecast in 2031 | USD 315.5 Million |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 11% from 2024 to 2031 |
| Quantitative Data | Volume in Tonnes, Revenue in USD Million, and CAGR from 2020 to 2031 |
| Number of Pages | 284 |
| Number of Tables | 670 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Nature, Form, Application, Region |
| Country scope |
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| Companies Included | Artisana Organics (Premier Organics Inc.), The Hain Celestial Group, Inc., Futters Nut Butters, Wilderness Poets, Big Spoon Roasters, Yumbutter, Inc. (Tribe 9 Foods), Carley’s of Cornwall Ltd., Tiny Isle, Torere Macadamias Limited, and Garden Picks Food Manufacturing LLP |
By Nature (Volume, Tonnes, USD Million, 2020-2031)
By Form (Volume, Tonnes, USD Million, 2020-2031)
By Application (Volume, Tonnes, USD Million, 2020-2031)
By Geography (Volume, Tonnes, USD Million, 2020-2031)
This Market size is expected to reach $315.5 billion by 2031.
Growth of vegan and plant-based diets are driving the Market in coming years, however, High cost of macadamia nuts restraints the growth of the Market.
Artisana Organics (Premier Organics Inc.), The Hain Celestial Group, Inc., Futters Nut Butters, Wilderness Poets, Big Spoon Roasters, Yumbutter, Inc. (Tribe 9 Foods), Carley’s of Cornwall Ltd., Tiny Isle, Torere Macadamias Limited, and Garden Picks Food Manufacturing LLP
In the year 2023, the market attained a volume of 1,912.08 tonnes, experiencing a growth of 9.7% (2020-2023).
The Roasted market is leading the Market by Form in 2023; thereby, achieving a market value of $169.5 million by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $106.5 million by 2031.
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